Global Liquid Nitrogen Market is predicted to grow at approximately 6% by 2022
Pune, India, May, 2018 /MRFR Press Release/- Market research future published a half cooked research report on global liquid nitrogen market. The liquid nitrogen market is expected to grow over the CAGR of around 6% during the period 2018 to 2022.
Liquid nitrogen is formed at very low temperature in a liquefied form and is produced by simultaneously removing the heat and compressing the air. It allows freezing in first instance and it can be stored and transported easily in suitable environment.
Such nitrogen is best for preserving food, biological and medical products. Various drivers which are responsible for the growth of liquid nitrogen market are growing demand of electronic products and growing demand from healthcare sector. Metal fabrication, automotive, and lighting are other factors which drives the growth of these segment. There is an opportunity for the growth of liquid nitrogen due to growing chemical industries in developing and under-developed region.
The key players of global liquid nitrogen market are Linde Ag (Germany), Praxair Inc. (U.S.), Air Liquide S.A. (France), Nexair LLC (U.S.), Taiyo Nippon Sanso Corporation (Japan), Messer Group (Germany), Air Products and Chemicals Inc. (U.S.), Gulf Cryo (United Arab Emirates), Emirates Industrial Gases Co. LLC. (United Arab Emirates), and Southern Industrial Gas Berhad (Malaysia).
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Market Research Analysis
The factors contributing to the growth of liquid nitrogen are high demand of electronic products and increasing demand from healthcare sector. Growing chemical industry plays a major role in the growth of the liquid nitrogen because it is extensively used in chemical industries.
The market is highly application based. It is dependent on the usage in the end-use industries. Chemical & Pharmaceutical are the dominating segment, by end-user due to growing demand of liquid nitrogen in this region. In pharmaceutical industry, liquid nitrogen is widely used as a cool reactors which are filled with catalyst during the repair work which helps to maintain the required temperature. Liquid nitrogen is also expected to witness growth in different segments such as healthcare, food & beverages, and rubber & plastic sectors.
Scope of the Report
- This study provides an overview of the global liquid nitrogen market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global coating equipment market by function, by production technology, by end-use and by region
- By Function
- By Production Technology
- Cryogenic distillation
- Pressure swing adsorption
- By End-User
- Food & beverages
- By region
- North America
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