Global Market Size for Liquid Nitrogen Estimated to Reach USD 27.07 Billion by 2032, at 4.6% CAGR: Polaris Market Research

NEW YORK, April 13, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Liquid Nitrogen Market Share, Size, Trends, Industry Analysis Report, By Function (Refrigerant and Coolant); By Processing Technology; By End-Use; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global liquid nitrogen market size/share was valued at USD 17.25 billion in 2022 and is expected to reach USD 27.07 Billion by 2032, growing at a CAGR of 4.6% during the forecast period."

What is Liquid Nitrogen? How Big is Liquid Nitrogen Market Size/Share?

• Report Coverage & Overview

Liquid nitrogen is a configuration of element nitrogen that's sufficiently cold to survive in a liquid state and is utilized for several cooling and cryogenic implementation. The rapidly rising demand for the liquid nitrogen market can be attributed to its usage in freezing and transferring of food commodities. It is also used for the cryopreservation of biological specimens such as eggs, sperm, and animal genetic specimens.

Worldwide growing demand for LN2 in the trading gas and electronics commodities market is predicted to be a prominent element driving the market growth. Evolving chemical and metal assembling industries in both full-grown and impending economies are offering a chance for the market to rise in the near future. The growing usage of LN2 for chilling electronic commodities in the course of the assembling procedure is predicted to push the industry.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Are:

• Nexair LLC
• Taiyo Nippon Sanso Corporation
• Emirates Industrial Gases Co. LLC
• Messer Group
• Southern Industrial Gas Berhad
• Gulf Cryo
• Air Products and Chemicals Inc.
• Air Liquide S.A.
• Praxair Inc.
• The linde group

For Additional Information on Key Players, Request to Download Sample Pages Here: https://www.polarismarketresearch.com/industry-analysis/global-liquid-nitrogen-market/request-for-sample

Key Factors Driving Market Growth

• The maintenance of temperature in supercomputers by semiconductors to push the market

Currently accessible contemporary electronics have semiconductors embedded in them to ease electronic regulation. Semiconductors validate conductivity amidst insulators and metals. They are normally exposed to escalated temperatures. The liquid nitrogen market size is expanding as in supercomputers; semiconductors are needed to be maintained at a perpetual temperature as supercomputers scuttle extremely intricate calculations and carry out innumerable functions in just one second. The processors configure the fundamental of supercomputers to grasp the bulk of tasks from extremely intricate functions. Such performance warm up the system, which requires regulation.

Liquid nitrogen is engaged in dermatology for freezing and circumventing the development of precancers, benign growths, and skin cancers. Liquid nitrogen market sales are soaring as cancer and benign growths are handled by measures of spraying and putting out liquid nitrogen with the assistance of cotton swabs. The thawing procedure involves freezing tumors and conditions and injures the cells, and impeding their growth.

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Recent Trends Influencing the Market

• Increasing awareness of stockpiling cells to drive the market

Liquid nitrogen is also utilized to stockpiling cells and biological specimens at rock-bottom temperatures to conserve tissue specimens acquired from several surgeries for the intention of the study. It is also used in incryoconservation for conserving animal and human genes. Growing demand for such implementations of liquid nitrogen in the healthcare sector is anticipated to drive market growth over the forecast period.

Growing demand for liquid nitrogen as a coolant and refrigerant amidst several end-use industries such as metal fabrication, healthcare, rubber and plastic, food and beverage, electronics, automotive, construction, and pharmaceutical is predicted to push the market in the near future.

Segmentation Assessment

• The coolant segment accounted for the highest market share

Based on function, the coolant segment accounted for the highest market share. Liquid nitrogen market demand is on the rise due to its low-temperature characteristic. It is increasingly engaged in implementations needing immersion, injection, and spray cooling. The market is also expected to grow due to the increasing usage of liquid nitrogen as liquid nitrogen as a refrigerant in medical, research, and cookery. Rubber elimination, interim ground freezing, metal stiffening, and pipe-freezing are several other industrial uses.

• The cryogenic distillation segment dominated the market

Based on processing technology, the cryogenic distillation segment dominated the market over a projected timeline. Liquid nitrogen market trends include industrial gases such as argon, nitrogen, and oxygen being assembled with this means at an equitable price. Growing usage in the creation of semiconductor gadgets might accelerate market growth.

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Liquid Nitrogen Market: Report Scope

Geographic Overview

• Increase in developmental ventures to propel the North American market

North America held the largest liquid nitrogen market share as there was an increase in developmental ventures. An increasing number of suppliers and producers in this region is expected to fuel the industry. The construction sector assembles annual constructions valued over USD 1.4 trillion as per the Associated General Contractors of America and renders a notable economic handout to the US.

Asia Pacific region is growing at a fast pace due to India and China being two surfacing economies now encountering speedy economic proliferation. Demand in the food and beverage, electronics, construction, and pharmaceutical industries have been raised by growing population and living calibre.

Browse the Detail Report "Liquid Nitrogen Market Share, Size, Trends, Industry Analysis Report, By Function (Refrigerant and Coolant); By Processing Technology; By End-Use; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/global-liquid-nitrogen-market 

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Recent Developments

• In June 2021, According to information provided by Inox Air Products, the proposed factory in Hosur will generate liquid nitrogen, among other things, and go into operation in December 2022.
• In February 2021, Inox Air Products will construct eight new air separation units across India with an investment of USD 2,000 crore. States like Gujarat, Maharashtra, Tamil Nadu, Madhya Pradesh, Uttar Pradesh, Andhra Pradesh, and West Bengal would be home to these new factories.

Polaris Market Research has segmented the Liquid Nitrogen market report based on function, processing technology, end-use, and region:

By Function Outlook

• Refrigerant
• Coolant

By Processing Technology Outlook

• Pressure Swing Adsorption
• Cryogenic Distillation

By End Use Outlook

• Food & Beverages
• Healthcare
• Metal Manufacturing & Construction
• Chemicals & Pharmaceuticals
• Rubber & Plastic
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research

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