Stratistics MRC’s Global Liquid Nitrogen Market value is expected to reach $31.78 billion growing at a CAGR of 7.8% during 2023-2030.
The liquefied form of the element nitrogen, known as liquid nitrogen, is created commercially by fractional distillation of liquid air. Its properties include being inert, colourless, odourless, non-flammable, and nontoxic. It is made at air separation and liquefaction factories using pressure swing adsorption and cryogenic distillation, and it are typically kept in LN Dewars, cryogenic liquid cylinders, and cryogenic tanks. Since liquid nitrogen has an exceptionally low temperature and is inert, it may be used as a refrigerant, coolant, and preservative. Among other things, it can be used in cryopreservation, cryosurgery, metallurgy, food processing, and electronics manufacture.
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North America is projected to have the highest CAGR over the forecast period. The increasing investment and development activities might be linked to the region’s strong market presence. Strong economic growth has been occurring in the region’s emerging economies. Demand in the food and beverage, construction, electronics, and pharmaceutical industries has been boosted by rising population and living standards. This region’s growing manufacturing base and supplier base are anticipated to drive market growth.
Some of the key players profiled in the Liquid Nitrogen Market include Statebourne Cryogenics Limited, Southern Industrial Gas Sdn Bhd, Air Liquide, MVS Engineering Pvt. Limited, Air Products Inc., Taiyo Nippon Sanso Corporation, Bombay Oxygen Investments Limited, Linde PLC, Buzwair Industrial Gases Factories, Gulf Cryo, Cryomech Inc., Ellenbarrie Industrial Gases Limited, Praxair India Pvt. Ltd., Yateem Oxygen, RoboGas, Air Water Inc., Cryotec Anlagenbau GmbH, Matheson Tri-Gas Inc, Parker Hannifin Corporation and SOL Group.
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Key Developments:
In March 2023, Air Liquide announced the expansion of its liquid nitrogen production facility in the United States. The expansion is expected to increase the company’s liquid nitrogen production capacity by 50%.
In February 2023, Praxair announced the acquisition of BOC’s liquid nitrogen business in the United States. The acquisition is expected to strengthen Praxair’s position in the liquid nitrogen market and expand its customer base.
In January 2023, Linde announced the launch of a new liquid nitrogen production facility in China. The facility is expected to be the largest liquid nitrogen production facility in China.
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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