The global liquid nitrogen market is
expected to reach USD 21.3 billion by 2025, according to a new report by Grand
View Research, Inc. Globally, increasing consumption of electronic goods has
been a major factor driving the market growth. In addition, growing healthcare
industry has led to increase in demand for liquid nitrogen.
Due
to its low temperature property it is used as a cryogen in cryotherapies,
cryosurgeries, and cryopreservation to remove skin tags, warts, verrucae, skin
cancers, and moles in addition to demolishing the decayed tissues. Liquid
nitrogen shrink fitting solutions are one of the best fitted solutions for
joining of two metals which cannot be welded, cemented or soldered.
Rising
demand in various application sectors including automotive, metals &
fabrication, rubber & plastic, healthcare, electronics, construction, and
food & beverages is projected to propel the market over the coming years.
Rapid industrialization, infrastructural, and medical activities is anticipated
to augment the market growth from 2017 to 2025.
Coolant
function was projected to be the largest segment over the forecast period with
a market share of 61.1% in terms of revenue in 2016. It is used in large number
of applications to maintain low temperature such as food & beverages,
electronics, chemicals, storage medium, healthcare, and metal fabrication to
maintain low temperatures.
North
America is expected to observe the biggest regional segment over the next eight
years with an estimated CAGR of around 5.4% from 2017 to 2025.Increasing number
of manufacturers and suppliers in this region is anticipated to spur the market
growth. Asia Pacific is the fastest growing segment with potential growth
opportunites. This region is expecting the rise in demand from industries such
as metal manufacturing & fabrication, construction, food & beverage,
and chemicals & pharmaceutical.
Full Research Report
On Liquid Nitrogen Market Analysis:
www.grandviewresearch.com/industry-analysis/liquid-nitrogen-market
www.grandviewresearch.com/industry-analysis/liquid-nitrogen-market
Further key findings from the report
suggest:
·
The global liquid nitrogen
demand exceeded 7.85 million tons in 2016 and is expected to grow at a CAGR of
4.4% from 2017 to 2025
·
Cryogenic distillation emerged
as the largest technology segment in 2016 and is estimated to generate revenue
over USD 10.7 billion by 2025
·
Coolant segment was projected
to be the largest function segment and is anticipated to witness moderate
growth over the next eight years
·
Merchant liquid and bulk
storage segment was 3.12 million tons in 2016 and is expected to grow at a CAGR
of 4.4% over the forecast period
·
Chemicals and pharmaceuticals
segment is anticipated to be the fastest growing end-user of liquid nitrogen as
it is used from packaging to fire suppression in pharmaceutical sector
·
The industry in Asia Pacific is
projected to witness significant growth over the next eight years owing to
various developments across major economies, especially in the medical and food
products industry. The regional market in terms of revenue is expected to grow
at a CAGR of 6.3% from 2017 to 2025
·
Key players including, The
Linde Group, Praxair Inc., Air Liquide S.A. and Air Products & Chemicals
dominated the global liquid nitrogen market while accounting formajor share of
the total volume in 2016
Browse More Reports Of This
Category By Grand View Research At: www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has
segmented the global liquid nitrogen market on the basis of technology,
function, storage, end-use, and region:
Liquid
Nitrogen Technology Outlook (Volume, Million Tons; Revenue, USD Million, 2014 -
2025)
·
Cryogenic distillation
·
Pressure swing adsorption
·
Others
Liquid
Nitrogen Function Outlook (Volume, Million Tons; Revenue, USD Million, 2014 -
2025)
·
Coolant
·
Refrigerant
Liquid
Nitrogen Storage Outlook (Volume, Million Tons; Revenue, USD Million, 2014 -
2025)
·
Cylinders & packaged gas
·
Merchant liquid/ Bulk
·
Tonnage
·
Others
Liquid
Nitrogen End-use Outlook (Volume, Million Tons; Revenue, USD Million, 2014 -
2025)
·
Chemicals & pharmaceuticals
·
Healthcare
·
Food & beverages
·
Metal manufacturing &
construction
·
Rubber & plastic
·
Others
Liquid
Nitrogen Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2014 -
2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
UK
o
Germany
o
France
o
Belgium
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
·
Central & South America
·
Middle East & Africa
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-liquid-nitrogen-market
www.grandviewresearch.com/press-release/global-liquid-nitrogen-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
No comments:
Post a Comment