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Liquid Nitrogen Market to showcase significant growth via oil & gas industry

Author : Ronak Bora | Published Date : 2019-08-07 

For the liquid nitrogen market, the oil & gas industry is one of the most prominent end-use spaces. With a commendable boost in shale oil and gas sectors in recent years and spike in hydraulic fracturing, enhanced oil recovery, which greatly involves the use of nitrogen, has witnessed revived interest adding traction to the liquid nitrogen market.

Powered by an increase in upstream activities include exploration and extraction, liquid nitrogen is among the industrial gas products used to enhance oil production rates and yields, while also lowering total costs. Many of the gas industry contenders are seen capitalizing on this demand for nitrogen products in oil and gas services in recent years as liquid nitrogen is extensively used in well stimulation, pressure testing, drill stem testing, coil tubing operations and cleaning and jetting.

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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.

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.

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.

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.

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.

Glimpse of Table of Content (ToC)

Chapter 4.  Liquid Nitrogen Market, Transportation By End-user

4.1.  Liquid Nitrogen market transportation insights

4.2.  On-site production

4.2.1.   Global on-site production liquid nitrogen market estimates and forecast, 2014 - 2025

4.2.2.   Global on-site production liquid nitrogen market estimates and forecast by end-user, 2014 - 2025

·   Automotive

·   Chemicals & pharmaceuticals

·   Rubber & plastic

·   Food & beverages

·   Healthcare

·   Metal fabrication

·   Oil & gas

·   Others

4.2.3.   Global on-site production liquid nitrogen market estimates and forecast by region, 2014 - 2025

4.3.  Bulk liquid

4.3.1.   Global bulk liquid nitrogen market estimates and forecast, 2014 - 2025

4.3.2.   Global bulk liquid nitrogen market estimates and forecast by end-user, 2014 - 2025

·   Automotive

·   Chemicals & pharmaceuticals

·   Rubber & plastic

·   Food & beverages

·   Healthcare

·   Metal fabrication

·   Oil & gas

·   Others

4.3.3.   Global bulk liquid nitrogen market estimates and forecast by region, 2014 - 2025

4.4.  Packaged

4.4.1.   Global packaged liquid nitrogen market estimates and forecast, 2014 - 2025

4.4.2.   Global packaged liquid nitrogen market estimates and forecast by end-user, 2014 - 2025

·   Automotive

·   Chemicals & pharmaceuticals

·   Rubber & plastic

·   Food & beverages

·   Healthcare

·   Metal fabrication

·   Oil & gas

·   Others

4.4.3.   Global packaged liquid nitrogen market estimates and forecast by region, 2014 - 2025

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/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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