Liquid Nitrogen Market SIZE, SHARE, FACTS & FIGURES INDUSTRY GROWTH REPORT FORECAST TO 2022

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1 Liquid Nitrogen Market SIZE, SHARE, FACTS & FIGURES INDUSTRY GROWTH REPORT FORECAST TO 2022 P a g e 1

2 1 Summary Liquid nitrogen is formed at very low temperature in a liquefied form. Liquid nitrogen allows to freeze in first instant and can be stored and transported in suitable environment. Liquid nitrogen is produced by simultaneously removing the heat and compressing the air and in cryogenic fluid, helps in freezing foods. Liquid nitrogen is a nontoxic and it rapidly cools things. It is best for preserving food, biological and medical products. Liquid nitrogen is expected to cross USD 17 Billion by 2022, at a CAGR of approximately 6%. 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). P a g e 2

3 2 Market Overview One of the factors which drive the growth of liquid nitrogen is growing demand from healthcare sector. This is due to the growth in the pharmaceutical industry and the extensive use of liquid nitrogen as a cool reactors. Other factors which drives the growth of this segment are growing demand of electronic products, metal fabrication, automotive, and lighting. There is also rapid increase in the demand due to rapid urbanization, growing industrialization, increase in infrastructure and medical activities. In developing and under-developed region due to growing chemical industry, there is an opportunity for liquid nitrogen to grow rapidly. Drivers P a g e 3

4 3 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. P a g e 4

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