Global Liquid Nitrogen Market-2020-2027 Industry Analysis and Forecast: By end-use industry, function, storage, distribution and transportation, manufacturing process and region.
In 2019, total revenue is expected to grow at a compound annual growth rate of approximately 5.27% from 2020 to 2027
Liquid nitrogen is in liquid form under pressure and has a very low temperature. The extremely low temperature of liquid nitrogen makes it a cryogenic liquid. Cryogenic liquids are liquefied gases with a boiling point below -90°C (-130°F). The boiling point of liquid nitrogen is -196°C (-320°F). The handling and storage of liquid nitrogen requires special equipment and materials. Liquid nitrogen is contained in a special sealed container to avoid pressure buildup. Depending on the design of the Dewar flask, it can be stored for several hours or as long as several weeks.
The report covers the estimation and forecast of the liquid nitrogen market, and is based on the data obtained through the secondary research, combined with the revenue of the major suppliers. When determining market performance and driving factors, different types of products offered by suppliers operating in the market will be considered. Analyzed the overall market size of the global liquid nitrogen market using a bottom-up procedure, and analyzed the income of major market participants. Accurate static representation and data representation are carried out in a certain way to obtain detailed information of all segments and represent them well in the final report. In terms of global inorganic chemistry, liquid nitrogen occupies the largest share in volume. It is used in many industrial applications and scientific applications. Liquid nitrogen is also used for food processing, drying, grinding and deburring of plastics and rubber, metal processing, crushing, and biological sample preservation. The development of technology has created huge opportunities and applications for liquid nitrogen.
By end-use industries, the market is segmented into chemical and pharmaceutical, food and beverage, cryogenic distillation, metal manufacturing and construction, rubber and plastics, and others (electronics and energy). Among these applications, chemistry and pharmaceuticals are the main areas of global liquid nitrogen in 2019.
By region, North America has the largest market share of liquid nitrogen in 2019. This is due to the mature pharmaceutical industry and the growing demand for reactor cooling applications and biological samples. In addition, the increase in recovery activities is creating demand for metal construction and manufacturing, which has led to an increase in demand for liquid nitrogen used in cutting and welding processes.
Due to the growth of the liquid nitrogen market in the past few years, the Asia-Pacific region is expected to be the fastest growing regional liquid nitrogen market and will follow the same trend during the forecast period. The main factors driving the growth of the regional market are the growth of the healthcare and pharmaceutical industries and the use of liquid nitrogen in various medical applications (such as platelet preservatives and cryotherapy). Many automobile manufacturing processes are gradually using liquid nitrogen as a coolant. It is also expected to promote the demand for liquid nitrogen in the Asia-Pacific region.
The report also helps to understand the dynamics and structure of the liquid nitrogen market by analyzing market segments and predict the size of the liquid nitrogen market. Through clear analysis of investors, supply chains, prices, financial conditions, product portfolios, growth strategies and regional distribution in the liquid nitrogen market, a competitive analysis of major players can be carried out, which will become a guide for reporting investors.