Liquid nitrogen is being considered as a zero-emission fuel source to hydrogen and electric fuel cells. One of the main advantages to liquid nitrogen is its cost. In US it is for a tenth of the price of the milk. A recent advance in engine technology allows the energy released by vaporizing the nitrogen to be used in a much more efficient way, which has spurred engineers in Europe into more research on liquid nitrogen technology.
Liquid Nitrogen, as a Fuel, is future of Green cars because it is very cheap compared to hydrogen and electric powered cars, which are seen as Zero Emission alternatives to Petrol and Diesel.
The liquid nitrogen market size is projected to grow from US$ 12.48 Billion in 2015 to US$ 19 Billion by 2027, at a CAGR of more than 5.00%.
Wherever low temperatures are needed there liquid nitrogen is used as a cryogen. It is used in cryosurgeries, cryotherapies, and cryopreservation to destroy decayed tissues and for removing warts, moles, skin tags, verrucae, and some skin cancers. Additionally, it is used as a coolant in temporary shrinking of mechanical gears at the time of machine assembly, to make better intrusion fits. This function is projected to encourage the demand for liquid nitrogen during the forecast period in this report.
Companies Profiled in this report are Nexair LLC. (U.S.), Taiyo Nippon Sanso Corporation (Japan), Air Products and Chemicals Inc. (U.S.), Gulf Cryo (United Arab Emirates), Emirates Industrial Gases Co. LLC. (United Arab Emirates), and Southern Industrial Gas BHD (Malaysia), Linde Ag (Germany), Praxair Inc., (U.S.) Air Liquide S.A. (France).
The Liquid Nitrogen Market is segmented as per below;
By Function:
• Coolant
• Refrigerant
• Fuel
By End-Use Industry:
• Chemicals & pharmaceuticals
• Automotive
• Food & beverages
• Healthcare
• Metal manufacturing & construction
• Rubber & plastic
• Others (electronics and energy)
By Storage, Distribution, and Transportation:
• Cylinder & packaged distribution
• Merchant liquid distribution
• Tonnage distribution
By Manufacturing Process:
• Cryogenic distillation
• Pressure swing adsorption
By Geography:
• North America
• Europe
• Asia-Pacific
• RoW
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1 INTRODUCTION
1.1 Key Take Aways
1.2 Report Description
1.3 Markets Covered
1.4 Stakeholders
1.5 Research Methodology
1.5.1 Market Size
1.5.2 Market Share
1.5.3 Key Data Points From Secondary Sources
1.5.4 Key Data Points From Primary Sources
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primary Interviews
2.2 Factor Analysis
2.2.1 Introduction
2.2.2 Demand-Side Analysis
2.2.2.1 Rising Population
2.2.2.2 Increasing Income and Spending Capacity
2.2.3 Supply-Side Analysis
2.2.3.1 Industry Regulations
2.2.3.2 Fluctuations in Fuel Prices
2.3 Market Size Estimation
2.4 Market Breakdown and Data Triangulation
2.5 Market Share Estimation
2.6 Research Assumptions & Limitations
2.6.1 Assumptions
2.6.2 Assumptions Made for This Study
2.6.3 Limitations
3 Executive Summary
3.1 Chemicals & Pharmaceuticals is Projected to Account for the Largest Share By 2024
3.2 North America is Projected to Dominate the Global Liquid Nitrogen Market By 2024
3.3 The Indian Market is Projected to Grow at the Highest CAGR From 2018 to 2024
4 Premium Insights (Page No. – 46)
4.1 Attractive Market Opportunities in the Liquid Nitrogen Market
4.2 Liquid Nitrogen Market in the Asia-Pacific Region
4.3 Emerging and Developed Markets for Liquid Nitrogen, 2018 vs 2024
5 Market Overview
5.1 Introduction
5.2 Market Evolution
5.3 Liquid Nitrogen Market Segmentation
5.3.1 By End-Use Industry
5.3.2 By Function
5.3.3 By Storage, Transportation & Distribution
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Electronic Products Have Seen an Increased Demand
5.4.1.2 Healthcare Sector has Seen A Steady Growth
5.4.1.3 Growing Food & Beverage Industry
5.4.2 Restraints
5.4.2.1 Structural and Regulatory Restrictions
5.4.3 Opportunities
5.4.3.1 High Demand From Chemical Industry
5.4.4 Challenges
5.4.4.1 Intricate Manufacturing Process
6 Industry Trends
6.1 Introduction
6.2 Value Chain
6.3 Porter’s Five Forces Analysis
6.3.1 Threat of New Entrants
6.3.2 Threats of Substitutes
6.3.3 Bargaining Power of Suppliers
6.3.4 Bargaining Power of Buyers
6.3.5 Intensity of Competitive Rivalry
7 Liquid Nitrogen Market, By End-User Industry
7.1 Introduction
7.1.1 Liquid Nitrogen Market, By End-User Industry
7.1.1.1 Chemicals & Pharmaceuticals is the Fastest-Growing Segment for Liquid Nitrogen During the Review Period
7.2 Healthcare
7.3 Food & Beverages
7.4 Chemicals & Pharmaceuticals
7.5 Metal Manufacturing & Construction
7.6 Rubber & Plastic
7.7 Others
8 Liquid Nitrogen Market, By Storage, Distribution & Transportation
8.1 Introduction
8.1.1 Liquid Nitrogen Market, By Storage, Distribution & Transportation
8.1.1.1 Cylinder & Packaged Gas Segment is Projected to Grow at the Highest CAGR
8.2 Cylinders & Packaged Gas
8.3 Merchant Liquid/Bulk
8.4 Tonnage
9 Liquid Nitrogen Market, By Function
9.1 Introduction
9.1.1 Liquid Nitrogen Market, By Function
9.1.1.1 Coolant Projected to Be the Fastest-Growing Function in Liquid Nitrogen, By 2024
9.2 Coolant
9.2.1 Coolant in Liquid Nitrogen Market, By End-User Industry
9.2.1.1 Chemicals & Pharmaceuticals Dominated the Market in 2018
9.3 Refrigerant
9.3.1 Refrigerant in Liquid Nitrogen Market Size, By End-User Industry
9.3.1.1 Food & Beverages Projected to Be the Fastest-Growing End-Use Industry of Refrigerant, By 2020
10 Liquid Nitrogen Market, By Production Technology
10.1 Introduction
10.1.1 Liquid Nitrogen Market Size, By Production Technology
10.1.1.1 Cryogenic Distillation Dominated the Market, By Production Technology, in 2014
10.2 Cryogenic Distillation
10.3 Pressure Swing Adsorption
11 Liquid Nitrogen Market, By Region
11.1 Introduction
11.1.1 Liquid Nitrogen Market Size, By Region
11.1.1.1 North America Dominated the Market for Liquid Nitrogen in 2018
11.2 North America
11.2.1 North America: Liquid Nitrogen Market Size, By Country
11.2.1.1 U.S. is Projected to Be the Fastest-Growing Market By 2024
11.2.1.2 North America: Liquid Nitrogen Market Size, By End-Use Industry
11.2.1.2.1 North American Market Driven By Growing Chemicals & Pharmaceuticals Industry
11.2.1.3 North America: Liquid Nitrogen Market Size, By Storage, Distribution & Transportation
11.2.1.3.1 Cylinder & Packaged Gas Distribution Segment Dominated the Market in North America
11.2.1.4 North America: Liquid Nitrogen Market Size, By Function
11.2.1.4.1 Coolant Segment Accounted for the Largest Share Owing to Its Growing Function in the Liquid Nitrogen Industry
11.2.1.5 North America: Liquid Nitrogen Market Size, By Production Technology
11.2.1.5.1 Pressure Swing Adsorption Segment to Grow at the Highest Rate By 2020
11.2.2 U.S.
11.2.2.1 U.S.: Liquid Nitrogen Market Size, By End-Use Industry
11.2.2.1.1 Chemicals & Pharmaceuticals Segment Dominated the Market in the U.S., in 2014
11.2.2.2 U.S.: Liquid Nitrogen Market Size, By Storage, Distribution & Transportation
11.2.2.2.1 Cylinder & Packaged Gas Distribution Segment Dominated the Market in 2014
11.2.2.3 U.S.: Liquid Nitrogen Market Size, By Function
11.2.2.3.1 Coolant Showing Signs of Potential Growth in the U.S.
11.2.2.4 U.S.: Liquid Nitrogen Market Size, By Production Technology
11.2.2.4.1 Cryogenic Distillation Segment Accounted for the Largest Share in 2014
11.2.3 Canada
11.2.3.1 Canada: Liquid Nitrogen Market Size, By End-Use Industry
11.2.3.1.1 Chemicals & Pharmaceuticals Was the Largest Segment in 2014
11.2.3.2 Canada: Liquid Nitrogen Market Size, By Storage, Distribution, & Transportation
11.2.3.2.1 Cylinder & Packaged Gas Distribution Segment to Grow at the Highest Rate By 2020
11.2.3.3 Canada: Liquid Nitrogen Market Size, By Function
11.2.3.3.1 Coolant Function Dominated the Liquid Nitrogen Market in 2018
11.2.3.4 Canada: Liquid Nitrogen Market Size, By Production Technology
11.2.3.4.1 Pressure Swing Adsorption Segment to Grow at the Highest CAGR in the Canadian Market
11.2.4 Mexico
11.2.4.1 Mexico: Liquid Nitrogen Market Size, By End-Use Industry
11.2.4.1.1 Mexican Liquid Nitrogen Market, By End-User Industry, Was Dominated By Chemicals & Pharmaceuticals Segment in 2015
11.2.4.2 Mexico: Liquid Nitrogen Market Size, By Storage, Distribution, & Transportation
11.2.4.2.1 Cylinder & Packaged Gas Distribution Segment to Grow at the Highest Rate By 2020
11.2.4.3 Mexico: Liquid Nitrogen Market Size, By Function
11.2.4.3.1 Refrigerant Segment to Grow at the Second-Highest Rate By 2024
11.2.4.4 Mexico: Liquid Nitrogen Market Size, By Production Technology
11.2.4.4.1 Cryogenic Distillation Segment Dominated the Market in 2018
11.3 Asia-Pacific
11.3.1 Asia-Pacific: Liquid Nitrogen Market Size, By Country
11.3.1.1 China Dominated the Asia-Pacific Liquid Nitrogen in 2014
11.3.1.2 Asia-Pacific: Liquid Nitrogen Market Size, By End-Use Industry
11.3.1.2.1 Chemicals & Pharmaceuticals Accounted for the Largest Market Share in 2014, By Value
11.3.1.3 Asia-Pacific: Liquid Nitrogen Market Size, By Storage, Distribution, & Transportation
11.3.1.3.1 Cylinder & Packaged Gas Distribution to Grow at the Highest CAGR By 2020
11.3.1.4 Asia-Pacific: Liquid Nitrogen Market Size, By Function
11.3.1.4.1 Coolant to Grow at the Highest Rate By 2024
11.3.1.5 Asia-Pacific: Liquid Nitrogen Market Size, By Production Technology
11.3.1.5.1 Cryogenic Distillation Was the Largest Market in 2018
11.3.2 China
11.3.2.1 China: Liquid Nitrogen Market Size, By End-Use Industry
11.3.2.1.1 Growing Chemicals & Pharmaceuticals Industry is Driving the Liquid Nitrogen Market in China
11.3.2.2 China: Liquid Nitrogen Market Size, By Storage, Distribution, & Transportation
11.3.2.2.1 Cylinder & Packaged Gas Distribution Dominated the Chinese Market
11.3.2.3 China: Liquid Nitrogen Market Size, By Function
11.3.2.3.1 Coolant Dominated the Market in China
11.3.2.4 China: Liquid Nitrogen Market Size, By Production Technology
11.3.2.4.1 Cryogenic Distillation Projected to Grow at the Highest Rate By 2020
11.3.3 India
11.3.3.1 India: Liquid Nitrogen Market Size, By End-Use Industry
11.3.3.1.1 Chemicals & Pharmaceuticals Projected to Grow at the Highest Rate By 2020
11.3.3.2 India: Liquid Nitrogen Market Size, By Storage, Distribution & Transportation
11.3.3.2.1 Cylinder & Packaged Gas Distribution Dominated the Market in 2014
11.3.3.3 India: Liquid Nitrogen Market Size, By Function
11.3.3.3.1 Liquid Nitrogen Market in India is Largely Driven By Growth in the Income of Middle-Class Population
11.3.3.4 India: Liquid Nitrogen Market Size, By Production Technology
11.3.3.4.1 Cryogenic Distillation Showing Potential for Growth in India
11.3.4 Japan
11.3.4.1 Japan: Liquid Nitrogen Market Size, By End-Use Industry
11.3.4.1.1 Chemicals & Pharmaceuticals to Grow at the Highest CAGR By 2024
11.3.4.2 Japan: Liquid Nitrogen Market Size, By Storage, Distribution & Transportation
11.3.4.2.1 Cylinder & Packaged Gas Distribution Dominated the Market in 2018
11.3.4.3 Japan: Liquid Nitrogen Market Size, By Function
11.3.4.3.1 Function of Liquid Nitrogen in Coolant Was the Highest in 2018
11.3.4.4 Japan: Liquid Nitrogen Market Size, By Production Technology
11.3.4.4.1 Cryogenic Distillation Projected to Grow at the Highest Rate By 2024
11.3.5 South Korea
11.3.5.1 South Korea: Liquid Nitrogen Market Size, By End-Use Industry
11.3.5.1.1 Food & Beverage to Grow at the Second-Highest CAGR By 2024
11.3.5.2 South Korea: Liquid Nitrogen Market Size, By Storage, Distribution & Transportation
11.3.5.2.1 Merchant Liquid Distribution to Grow at the Second Highest Rate By 2024
11.3.5.3 South Korea: Liquid Nitrogen Market Size, By Function
11.3.5.3.1 Function of Liquid Nitrogen in Coolant Was the Largest in 2018
11.3.5.4 South Korea: Liquid Nitrogen Market Size, By Production Technology
11.3.5.4.1 Cryogenic Distillation Accounted for the Largest Market Share in 2018
11.3.6 Rest of Asia-Pacific
11.3.6.1 Rest of Asia-Pacific: Liquid Nitrogen Market Size, By End-Use Industry
11.3.6.1.1 Chemicals & Pharmaceuticals Held the Largest Share in the Rest of Apac Liquid Nitrogen Market
11.3.6.2 Rest of Asia-Pacific: Liquid Nitrogen Market Size, By Storage, Distribution & Transportation
11.3.6.2.1 Cylinder & Packaged Gas Distribution Was the Largest Market in 2018
11.3.6.3 Rest of Asia-Pacific: Liquid Nitrogen Market Size, By Function
11.3.6.3.1 Refrigerant Was the Second-Largest Function for Liquid Nitrogen in 2014
11.3.6.4 Rest of Asia-Pacific: Liquid Nitrogen Market Size, By Production Technology
11.3.6.4.1 Pressure Swing Adsorption Was the Second-Largest Market in 2018
11.4 Europe
11.4.1 Europe: Liquid Nitrogen Market Size, By Country
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The Liquid Nitrogen Market is segmented as per below;
By Function:
• Coolant
• Refrigerant
• Fuel
By End-Use Industry:
• Chemicals & pharmaceuticals
• Automotive
• Food & beverages
• Healthcare
• Metal manufacturing & construction
• Rubber & plastic
• Others (electronics and energy)
By Storage, Distribution, and Transportation:
• Cylinder & packaged distribution
• Merchant liquid distribution
• Tonnage distribution
By Manufacturing Process:
• Cryogenic distillation
• Pressure swing adsorption
By Geography:
• North America
• Europe
• Asia-Pacific
• RoW
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