Liquid Nitrogen Market Highlights:-
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.
On the basis of function, coolant is expected to grow with highest Liquid Nitrogen Market share in the forecast period because at low temperature liquid nitrogen serves as an ideal coolant for many industries. On the basis production technology, cryogenic distillation is expected to witness the largest market share because it is most widely used for high purity oxygen, nitrogen and argon for industries. On the basis of end-user, chemicals & pharmaceutical segment is expected to dominate the market due to the growth in the pharmaceutical industry globally. North America is expected to witness the highest market share in the forecast period.
Liquid Nitrogen Global Market Top Key Players:-
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 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.
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.
Liquid Nitrogen Market Scope:-
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 Production Technology
- Cryogenic distillation
- Pressure swing adsorption
- Food & beverages
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- North America