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Liquid Nitrogen Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

April 2022 | 145 pages | ID: L9934AE06D86EN
IMARC Group

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The global liquid nitrogen market reached a value of US$ 17.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 24.3 Billion by 2027, exhibiting a CAGR of 6.16% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Liquid nitrogen (LN) is a dry, condensed, scentless, inert and non-combustible cryogenic liquid used for rapid freezing. It is produced in air separation and liquefaction plants through cryogenic distillation and pressure swing adsorption processes and is usually stored in LN dewars, cryogenic liquid cylinders and cryogenic tanks. LN aids in rapid cooling and temporary shrinking of mechanical gears and components during machine assembly for improved intrusion fits. It is also used for cryosurgeries, cryotherapies and cryopreservation procedures to remove decayed tissues, warts, moles, skin tags and pre-cancerous cells in the body. LN also finds extensive applications for the freezing of food and beverages and creating an aesthetic cloud of vapor or fog over dishes in fine-dine restaurants, cafes and hotels.

Liquid Nitrogen Market Trends:
The increasing demand for cryogenic liquids for metal fabrication and manufacturing of electronics, healthcare, automotive and lighting systems is one of the key factors driving the market growth. LN is widely used as a coolant to prevent additional heat generation during the grinding process resulting in minimal corrosion and high-quality and uniformly sized ice particles. Moreover, the widespread adoption of LN as an organic additive for the development of generics, therapeutic medicines and active pharmaceutical ingredients is providing a thrust to the market growth. In line with this, significant growth in the food and beverage industry is also favoring the market growth. LN is widely used for rapid cooling freezing of bakery products, meat, poultry, fish, prepared meals, vegetables and fruits while retaining their original color, scent and flavor. Other factors, including rapid industrialization, along with the launch of innovative LN-compatible automobile engines for minimal carbon emissions, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global liquid nitrogen market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on technology, function, storage type and end-user.

Breakup by Technology:

Cryogenic Distillation
Pressure Swing Adsorption
Others

Breakup by Function:

Coolant
Refrigerant

Breakup by Storage Type:

Cylinders and Packaged Gas
Merchant Liquid/Bulk
Tonnage
Others

Breakup by End User:

Chemicals and Pharmaceuticals
Food and Beverage
Healthcare
Metal Manufacturing and Construction
Rubber and Plastic
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Air Liquide S.A., Air Products and Chemicals Inc., AMCS Corporation, Asia Industrial Gases Pte. Ltd., Cryomech Inc., Gulf Cryo, Linde plc, Messer Group GmbH, Statebourne Cryogenics Ltd and Taiyo Nippon Sanso Corporation (Mitsubishi Chemical Holdings Corporation). Key Questions Answered in This Report:
How has the global liquid nitrogen market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global liquid nitrogen market?
What are the key regional markets?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the function?
What is the breakup of the market based on the storage type?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global liquid nitrogen market and who are the key players?
What is the degree of competition in the industry?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL LIQUID NITROGEN MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY TECHNOLOGY

6.1 Cryogenic Distillation
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Pressure Swing Adsorption
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Others
  6.3.1 Market Trends
  6.3.2 Market Forecast

7 MARKET BREAKUP BY FUNCTION

7.1 Coolant
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Refrigerant
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY STORAGE TYPE

8.1 Cylinders and Packaged Gas
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Merchant Liquid/Bulk
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Tonnage
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Others
  8.4.1 Market Trends
  8.4.2 Market Forecast

9 MARKET BREAKUP BY END USER

9.1 Chemicals and Pharmaceuticals
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Food and Beverage
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 Healthcare
  9.3.1 Market Trends
  9.3.2 Market Forecast
9.4 Metal Manufacturing and Construction
  9.4.1 Market Trends
  9.4.2 Market Forecast
9.5 Rubber and Plastic
  9.5.1 Market Trends
  9.5.2 Market Forecast
9.6 Others
  9.6.1 Market Trends
  9.6.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1 North America
  10.1.1 United States
    10.1.1.1 Market Trends
    10.1.1.2 Market Forecast
  10.1.2 Canada
    10.1.2.1 Market Trends
    10.1.2.2 Market Forecast
10.2 Asia-Pacific
  10.2.1 China
    10.2.1.1 Market Trends
    10.2.1.2 Market Forecast
  10.2.2 Japan
    10.2.2.1 Market Trends
    10.2.2.2 Market Forecast
  10.2.3 India
    10.2.3.1 Market Trends
    10.2.3.2 Market Forecast
  10.2.4 South Korea
    10.2.4.1 Market Trends
    10.2.4.2 Market Forecast
  10.2.5 Australia
    10.2.5.1 Market Trends
    10.2.5.2 Market Forecast
  10.2.6 Indonesia
    10.2.6.1 Market Trends
    10.2.6.2 Market Forecast
  10.2.7 Others
    10.2.7.1 Market Trends
    10.2.7.2 Market Forecast
10.3 Europe
  10.3.1 Germany
    10.3.1.1 Market Trends
    10.3.1.2 Market Forecast
  10.3.2 France
    10.3.2.1 Market Trends
    10.3.2.2 Market Forecast
  10.3.3 United Kingdom
    10.3.3.1 Market Trends
    10.3.3.2 Market Forecast
  10.3.4 Italy
    10.3.4.1 Market Trends
    10.3.4.2 Market Forecast
  10.3.5 Spain
    10.3.5.1 Market Trends
    10.3.5.2 Market Forecast
  10.3.6 Russia
    10.3.6.1 Market Trends
    10.3.6.2 Market Forecast
  10.3.7 Others
    10.3.7.1 Market Trends
    10.3.7.2 Market Forecast
10.4 Latin America
  10.4.1 Brazil
    10.4.1.1 Market Trends
    10.4.1.2 Market Forecast
  10.4.2 Mexico
    10.4.2.1 Market Trends
    10.4.2.2 Market Forecast
  10.4.3 Others
    10.4.3.1 Market Trends
    10.4.3.2 Market Forecast
10.5 Middle East and Africa
  10.5.1 Market Trends
  10.5.2 Market Breakup by Country
  10.5.3 Market Forecast

11 SWOT ANALYSIS

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 VALUE CHAIN ANALYSIS

13 PORTERS FIVE FORCES ANALYSIS

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 PRICE ANALYSIS

15 COMPETITIVE LANDSCAPE

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
  15.3.1 Air Liquide S.A.
    15.3.1.1 Company Overview
    15.3.1.2 Product Portfolio
    15.3.1.3 Financials
    15.3.1.4 SWOT Analysis
  15.3.2 Air Products and Chemicals Inc.
    15.3.2.1 Company Overview
    15.3.2.2 Product Portfolio
    15.3.2.3 Financials
    15.3.2.4 SWOT Analysis
  15.3.3 AMCS Corporation
    15.3.3.1 Company Overview
    15.3.3.2 Product Portfolio
  15.3.4 Asia Industrial Gases Pte. Ltd.
    15.3.4.1 Company Overview
    15.3.4.2 Product Portfolio
  15.3.5 Cryomech Inc.
    15.3.5.1 Company Overview
    15.3.5.2 Product Portfolio
  15.3.6 Gulf Cryo
    15.3.6.1 Company Overview
    15.3.6.2 Product Portfolio
  15.3.7 Linde plc
    15.3.7.1 Company Overview
    15.3.7.2 Product Portfolio
    15.3.7.3 Financials
  15.3.8 Messer Group GmbH
    15.3.8.1 Company Overview
    15.3.8.2 Product Portfolio
  15.3.9 Statebourne Cryogenics Ltd
    15.3.9.1 Company Overview
    15.3.9.2 Product Portfolio
  15.3.10 Taiyo Nippon Sanso Corporation (Mitsubishi Chemical Holdings Corporation)
    15.3.10.1 Company Overview
    15.3.10.2 Product Portfolio

LIST OF TABLES

Table 1: Global: Liquid Nitrogen Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Liquid Nitrogen Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 3: Global: Liquid Nitrogen Market Forecast: Breakup by Function (in Million US$), 2022-2027
Table 4: Global: Liquid Nitrogen Market Forecast: Breakup by Storage Type (in Million US$), 2022-2027
Table 5: Global: Liquid Nitrogen Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 6: Global: Liquid Nitrogen Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Liquid Nitrogen Market: Competitive Structure
Table 8: Global: Liquid Nitrogen Market: Key Players

LIST OF FIGURES

Figure 1: Global: Liquid Nitrogen Market: Major Drivers and Challenges
Figure 2: Global: Liquid Nitrogen Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Liquid Nitrogen Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Liquid Nitrogen Market: Breakup by Technology (in %), 2021
Figure 5: Global: Liquid Nitrogen Market: Breakup by Function (in %), 2021
Figure 6: Global: Liquid Nitrogen Market: Breakup by Storage Type (in %), 2021
Figure 7: Global: Liquid Nitrogen Market: Breakup by End User (in %), 2021
Figure 8: Global: Liquid Nitrogen Market: Breakup by Region (in %), 2021
Figure 9: Global: Liquid Nitrogen (Cryogenic Distillation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Liquid Nitrogen (Cryogenic Distillation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Liquid Nitrogen (Pressure Swing Adsorption) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Liquid Nitrogen (Pressure Swing Adsorption) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Liquid Nitrogen (Other Technologies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Liquid Nitrogen (Other Technologies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Liquid Nitrogen (Coolant) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Liquid Nitrogen (Coolant) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Liquid Nitrogen (Refrigerant) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Liquid Nitrogen (Refrigerant) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Liquid Nitrogen (Cylinders and Packaged Gas) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Liquid Nitrogen (Cylinders and Packaged Gas) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Liquid Nitrogen (Merchant Liquid/Bulk) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Liquid Nitrogen (Merchant Liquid/Bulk) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Liquid Nitrogen (Tonnage) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Liquid Nitrogen (Tonnage) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Liquid Nitrogen (Other Storage Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Liquid Nitrogen (Other Storage Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Liquid Nitrogen (Chemicals and Pharmaceuticals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Liquid Nitrogen (Chemicals and Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Liquid Nitrogen (Food and Beverage) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Liquid Nitrogen (Food and Beverage) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Liquid Nitrogen (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Liquid Nitrogen (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Liquid Nitrogen (Metal Manufacturing and Construction) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Liquid Nitrogen (Metal Manufacturing and Construction) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Global: Liquid Nitrogen (Rubber and Plastic) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Global: Liquid Nitrogen (Rubber and Plastic) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Global: Liquid Nitrogen (Other End Users) Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Global: Liquid Nitrogen (Other End Users) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: North America: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: North America: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: United States: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: United States: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Canada: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Canada: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Asia-Pacific: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Asia-Pacific: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: China: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: China: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Japan: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Japan: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: India: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: India: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: South Korea: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: South Korea: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Australia: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Australia: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Indonesia: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Indonesia: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Others: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Others: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Europe: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Europe: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Germany: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Germany: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: France: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: France: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: United Kingdom: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: United Kingdom: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Italy: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Italy: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Spain: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Spain: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Russia: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Russia: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Others: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Others: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Latin America: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Latin America: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Brazil: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Brazil: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Mexico: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: Mexico: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 83: Others: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 84: Others: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 85: Middle East and Africa: Liquid Nitrogen Market: Sales Value (in Million US$), 2016 & 2021
Figure 86: Middle East and Africa: Liquid Nitrogen Market: Breakup by Country (in %), 2021
Figure 87: Middle East and Africa: Liquid Nitrogen Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 88: Global: Liquid Nitrogen Industry: SWOT Analysis
Figure 89: Global: Liquid Nitrogen Industry: Value Chain Analysis
Figure 90: Global: Liquid Nitrogen Industry: Porter's Five Forces Analysis


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