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Liquid Nitrogen Market growth is stimulated by rapidly growing healthcare industry across the globe

Author : Ronak Bora | Published Date : 2019-03-11 

Global Liquid Nitrogen Market is forecast to exceed USD 17.2 billion by 2025; according to a new research report. Global liquid nitrogen market will be driven by rapidly growing food & beverages industry across the globe. It is used in the food & beverages to freeze the food products rapidly and to preserve & transport it. Owing to the increasing population and shift in consumer preferences, food & beverages industry is likely to grow with a significant CAGR. Chemical & pharmaceutical was the major end-user of liquid nitrogen in 2017. This can be attributed to the increasing usage of liquid nitrogen in pharmaceutical industry. It is used in the pharmaceutical industry from raw material preparation to the final product packaging. Liquid nitrogen demand in chemical & pharmaceutical is forecast to remain the highest during the forecast period.

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However, stringent regulations regarding product usage in the food & beverages are likely to hamper the product demand over the forecast timespan. Many governments and government-controlled agencies are banning the usage of liquid nitrogen in food & beverages industry. For instance, government of Haryana (India) banned the usage of liquid nitrogen in food & drinks, due to its adverse effect on the human health. Many other states in India are likely to follow the Haryana's footstep in near future.

On-Site production was the major transportation segment in 2017 and shall grow with a highest CAGR during the forecast period. Remoteness is removed by the on-site production and it gives flexibility in production. In addition, it is cost effective and more environment friendly method, owing to which its is likely to grow with a highest CAGR in next few years. It is the most convenient mode of transportation to the end-users who need liquid nitrogen in bulk and on daily basis.

Automobile end-use segment is projected to grow with a highest CAGR over the forecast period. This can be attribute to the rapidly growing automobile industry in Asia Pacific. Automobile manufacturers are trying to manufacture the engines which will run on the liquid nitrogen. Liquid nitrogen is an environment friendly and cost-effective alternative for petroleum-based fuel. Rubber & plastic manufacturing will create major product demand during the forecast period, owing to the growing rubber & plastic production across the globe from past few years.

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Asia Pacific created the major chunk of product demand in 2017 and is anticipated to grow with a highest CAGR over the forecast period. This can be attributed to the increasing automobile manufacturing in the region. More than half of the global passenger & commercial vehicles are manufactured in Asia Pacific. This exponential size of the automobile industry shall fuel the liquid nitrogen demand in near future. North America liquid nitrogen demand shall grow with a healthy CAGR, owing to its matured food & beverage industry and increasing demand for the ready to eat products in the region.

Many multinational giants and local companies are operating in the liquid nitrogen market. Some prominent players working in the industry are Air Liquide S.A., Taiyo Nippon Sanso Corporation, Messer Group, Southern Industrial Gas Berhad, Emirates Industrial Gas Co. LLC, Linde Ag, Gulf Cryo, Nexair LLC, Praxair Inc. and Air products and Chemical Inc.

 

The liquid nitrogen market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in Million Liters and USD million from 2014 to 2025, for the following segments:

Liquid Nitrogen Market, Transportation by End-user

  • On-Site Production
    • Automotive
    • Chemical & Pharmaceutical
    • Rubber & Plastic
    • Food & Beverages
    • Healthcare
    • Metal Fabrication
    • Oil & Gas
    • Others
  • Bulk Liquid
    • Automotive
    • Chemical & Pharmaceutical
    • Rubber & Plastic
    • Food & Beverages
    • Healthcare
    • Metal Fabrication
    • Oil & Gas
    • Others
  • Packaged
    • Automotive
    • Chemical & Pharmaceutical
    • Rubber & Plastic
    • Food & Beverages
    • Healthcare
    • Metal Fabrication
    • Oil & Gas
    • Others

Liquid Nitrogen Market by End-user

  • Automotive
  • Chemical & Pharmaceutical
  • Rubber & Plastic
  • Food & Beverages
  • Healthcare
  • Metal Fabrication
  • Oil & Gas
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • APAC
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • LATAM
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE

 

Browse Full Report @ https://www.gminsights.com/industry-analysis/liquid-nitrogen-market

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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