Chemicals Research, Business & Intelligence | ChemAnalyst

Sunday, September 25, 2022

Liquid Nitrogen Market is Projected to Grow at a CAGR of 5.5% during the forecast period to 2030



According to ChemAnalyst report, “Global Liquid Nitrogen Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Global Liquid Nitrogen market has shown considerable growth in historic period and is anticipated to achieve a healthy CAGR of 5.5% during the forecast period. Growing demand of Liquid Nitrogen due to its non-inflammable and non-toxic properties in research labs and in cryotherapy to remove the skin abnormalities like warts and actinic keratosis is expected to boost the global Liquid Nitrogen market in the upcoming years. The manufacturing of Liquid Nitrogen is highly associated with safety concerns on human health as well as environment before it can be used which further enhances the compliance standards.

Liquid Nitrogen is a cryogenic liquid which is colorless, odorless and extremely cold in nature. It is basically a liquefied form of Nitrogen that is produced by the process of fractional distillation of liquid air. The demand of Liquid Nitrogen is extremely high in various sectors due to its numerous applications such as cryopreservation of biological samples, removal of skin lesions, coolant for superconductors, freezing and transporting food products and others. Liquid Nitrogen is extensively used as a cryogen to perform cryosurgery and it also helps in grinding plastics or pulverization cryogenically. There are many technologies that are used for the manufacturing of Liquid Nitrogen with a range of specifications like purity, usage, portability, pattern and power consumption. The more cost-effective and suitable method than the traditional cryogenic distillation technology is Pressure Swing Adsorption (PSA). The exponentially increasing demand of Liquid Nitrogen by Food and Beverage industry due to its remarkable properties of cooling and refrigeration is likely to augment the global market growth of Liquid Nitrogen. LN2 is proven extremely beneficial in the retail food and beverage industry as it is widely used in restaurants for freezing food and drinks and for manufacturing ice creams and cocktails.

Read Full Report Here: https://www.chemanalyst.com/industry-report/liquid-nitrogen-market-281

Liquid Nitrogen is also used in food packaging industries as it protects food from rancidity and going stale. Other industrial applications of Liquid Nitrogen include rubber removal, temporary ground freeze, shrink-welding of machinery, metal hardening, pipe freezing etc. Growing demand for Liquid Nitrogen from end-user industries including healthcare, Automotive, metal production and others coupled with cost advantages associated to its production, would drive the consumption of Liquid Nitrogen in the forecast period. In the pharmaceutical industry, growing use of Liquid Nitrogen to restore the cold reaction temperature during production of medicines is expected to provide a strong impetus to the Nitrogen market worldwide over the next five years. Moreover, with the rise in applications for cryotherapies, cryosurgeries, and cryopreservation for curing skin, removing skin tags, skin cancers, and moles would further accelerate the consumption of Liquid Nitrogen across the medical sector. Many leading players are merging with new companies to strengthen the R&D department and improve the product portfolio and market footprint.

In 2020, Due to the consequence of COVID-19, Due to nationwide lockdowns and government restrictions by major emerging economies, many industries halted their operations which further impacted the global market. However, The demand of Liquid Nitrogen from food and beverage and healthcare sector declined due to the nationwide lockdown and government restrictions.

Region wise, North America holds the largest market share of the global demand of Liquid Nitrogen followed by APAC. Rising number of manufacturers and suppliers in region of North America is expected to strengthen the global supply-chain. Emerging countries like India and China in the Asia Pacific region have bolstered the market in recent years.

Request Sample: https://www.chemanalyst.com/ChemAnalyst/RequestForm

    Major Players:

    • L’Air Liquide SA,
    • Air Products and Chemicals,Inc.,
    • Linde Group,
    • Praxair Inc.,
    • Messer Group Gmbh,
    • Taiyo Nippon Sanso, 
    • Nexair LLC.,
    • Emirates Industrial Gases Co. LLC.,
    • Southern Industrial Gas BHD
    • Gulf Cryo.

    “Being linked to the downstream applications in the Food & Beverage industry, the Global Liquid Nitrogen Industry has shown an impressive growth along with the increasing population and changes in the preference of costumer. It is projected that India will become one of the biggest consumer markets of Liquid Nitrogen during the forecast period. In addition, growing per capita income worldwide poised a stronger outlook to the country’s Liquid Nitrogen demand. Due to the Pandemic, Nationwide lockdowns around the world had affected the global supply chain logistics and happens to cause immediate shortage of raw materials which led to the increase in the prices of Liquid Nitrogen. Meanwhile, China serves as the major holder with latest technologies. With new competitors emerging across the Liquid Nitrogen market, it is extremely important to keep an eye  on which region will grab the biggest market shareduring the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

    About Us        

    ChemAnalyst is a subsidiary of Techsci Research, which was established in 2008, and has been providing exceptional management consulting to its clients across the globe for over a decade now. For the past four years, ChemAnalyst has been a prominent provider of Chemical commodity prices in more than 15 countries. We are a team of more than 100 Chemical Analysts who are committed to provide in-depth market insights and real-time price movement for 300+ chemical and petrochemical products. ChemAnalyst has reverberated as a preferred pricing supplier among Procurement managers and Strategy professionals worldwide. On our platform, we provide an algorithm-based subscription where users can track and compare years of historical data and prices based on grades and incoterms (CIF, CFR, FOB, & EX-Works) in just one go.

    The ChemAnalyst team also assists clients with Market Analysis for over 1200 chemicals including assessing demand & supply gaps, locating verified suppliers, choosing whether to trade or manufacture, developing Procurement Strategies, monitoring imports and exports of Chemicals, and much more. The users will not only be able to analyze historical data for past years but will also get to inspect detailed forecasts for the upcoming years. With access to local field teams, the company provides high-quality, reliable market analysis data for more than 40 countries.

    ChemAnalyst is your one-stop solution for all data-related needs. We at ChemAnalyst are dedicated to accommodate all of our world-class clients with their data and insights needs via our comprehensive online platform.

    Contact Us:

    Imani Jex

    420 Lexington Avenue,

    Suite 300, New York,

    NY, United States, 10170

    Call:- +1 3322586602

    Email: sales@chemanalyst.com

    Website: https://www.chemanalyst.com/

    No comments:

    Post a Comment

    Procuraverse, 2023: Unveiling the Future of Supply Chain with ChemAnalyst

    The first ever edition of Procuraverse will bring together the industry leaders and experts to discuss and address the evolving landscape of...