Liquid Nitrogen Market Size to grow by USD 5,846.77 million from 2022 to 2027, The growing adoption of liquid nitrogen in the food and beverage industry to boost the market growth - Technavio

NEW YORK, June 5, 2023 /PRNewswire/ -- The global liquid nitrogen market size is estimated to increase by USD 5,846.77 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 6.14% during the forecast period. The growing adoption of liquid nitrogen in the food and beverage industry is the key factor driving the growth of the global LN2 market. By adding pressure to the liquid nitrogen, which causes it to dissolve in the liquid, resulting in carbonation, liquid nitrogen can be used to create carbonated drinks. Furthermore, the use of liquid nitrogen in the food and beverage industry has several advantages. Additionally, the rapid cooling with liquid nitrogen helps preserve food texture and quality and extends shelf life. Hence, such applications in end-user segments drive market growth during the forecast period. Discover some insights on the market size historic period (2017 to 2021) and Forecast 2023-2027 before buying the full report -Request a sample report

Liquid nitrogen market – Vendor Analysis
Vendor Landscape - The global liquid nitrogen market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer liquid nitrogen in the market are Air Liquide SA, Air Products and Chemicals Inc., AMCS Corp., Asia Industrial Gases Pte. Ltd., Asia Technical Gas Co Pte Ltd., Buzwair Industrial Gases Factories, Cryomech Inc., Goyal Group, Gulf Cryo Holding CSC, Linde Plc, Messer SE and Co. KGaA, MVS Engineering Pvt. Ltd., Nippon Sanso Holdings Co., Ltd., Statebourne Cryogenics Ltd., and Yingde Gas Group Co. Ltd. and others.

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Vendor Offerings -

• Air Liquide SA - The company offers liquid nitrogen for the food and beverage industry.
• Air Products and Chemicals Inc. - The company offers liquid nitrogen such as liquid nitrogen in cryogenic liquid cylinders and cryogenic storage tanks.
• AMCS Corp. - The company offers liquid nitrogen such as AMCS Ultra N and NL series liquid nitrogen.
• For details on the vendor and their offerings – Request a sample report

Liquid Nitrogen Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on application (chemicals/pharma/biotech, food and beverages, metal manufacturing and construction, and others), usage (coolant and refrigerant), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

• The market share growth by the chemicals/pharma/biotech segment will be significant for overall market growth during the forecast period. Liquid nitrogen finds a wide array of applications in the chemical industry, such as pressurizing gas and transporting liquids by propelling them through pipelines. Also, in the pharmaceutical and biotechnology sector, liquid nitrogen is used to freeze medicines, chemical formulations, and biological samples for subsequent studies and research. The stringent environmental regulations to control hazardous air pollutants, liquid nitrogen is beneficial as it reduces VOC emissions when used as a refrigerant. Furthermore, it condenses VOCs by cooling the emissions at a low temperature, which helps in the recovery of valuable products and encourages recycling. Hence, such applications in different industries drives the segment growth during the forecast period.

Geography Overview
By geography, the global liquid nitrogen market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global liquid nitrogen market.

• North America is estimated to account for 44% of the growth of the global market during the forecast period. The region has the major share of the global liquid nitrogen market during the forecast period due to an increase in development activities, an increasing number of manufacturers and suppliers, and joint ventures and new manufacturing plants. For instance, Air Products and Chemicals will have a joint venture with Linde North America to set up a manufacturing plant in New York, which produces liquid nitrogen, oxygen, and argon. Hence, the demand for gases will be driven by the healthcare, construction, and metals industries in this region.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report

Liquid Nitrogen Market – Market Dynamics

Key Trends - 

• Liquid nitrogen as a jet medium in petroleum engineering is an emerging trend influencing the global LN2 market growth. 
• Liquid nitrogen can effectively clean and remove unwanted material from oil wells, pipelines, and other equipment.
• This makes it a popular blasting medium in petroleum engineering. Furthermore, the use of liquid nitrogen as a blasting medium in petroleum engineering involves injecting liquid nitrogen into a well or pipeline at high pressure. 
• This process, which is known as nitrogen lifting or nitrogen injection, causes the liquid nitrogen to expand rapidly, further creating a high-velocity jet stream that can loosen and remove clogs, scale, and other debris.
• Hence, such trends boost market growth for liquid nitrogen during the forecast period.

Major challenges - 

• Fluctuating prices of liquid nitrogen is a major challenge hindering the growth of the global LN2 market.
• The prices of liquid nitrogen are subject to changes in supply and demand, energy prices, and raw material costs.
• When prices are high, consumers may seek alternatives or reduce their usage, which leads to decreased demand and revenue for producers.
• Furthermore, the price of liquid nitrogen is highly dependent on several factors such as supply and demand, energy prices, and raw material costs.
• Such factors are unpredictable and subject to change, which can lead to volatility in liquid nitrogen prices.
• Hence, factors like fluctuating prices may impede the market growth of liquid nitrogen during the forecast period.

Drivers, Trends and challenges have an impact on market dynamics, which can impact businesses. Find more insights in the sample report! 

What are the key data covered in this Liquid Nitrogen Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the liquid nitrogen market between 2023 and 2027
• Precise estimation of the size of the liquid nitrogen market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the liquid nitrogen market across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of liquid nitrogen market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Usage
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global liquid nitrogen market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global liquid nitrogen market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Usage Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Usage Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Chemicals/pharmaceutical/biotechnology - Market size and forecast 2022-2027
• Exhibit 34: Chart on Chemicals/pharmaceutical/biotechnology - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Chemicals/pharmaceutical/biotechnology - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Chemicals/pharmaceutical/biotechnology - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Chemicals/pharmaceutical/biotechnology - Year-over-year growth 2022-2027 (%)

• 6.4 Food and beverages - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Food and beverages - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Food and beverages - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Food and beverages - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Food and beverages - Year-over-year growth 2022-2027 (%)

• 6.5 Metal manufacturing and construction - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Metal manufacturing and construction - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Metal manufacturing and construction - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Metal manufacturing and construction - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Metal manufacturing and construction - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027
• Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Application 
• Exhibit 50: Market opportunity by Application ($ million)
• Exhibit 51: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Usage

• 7.1 Market segments 
• Exhibit 52: Chart on Usage - Market share 2022-2027 (%)
• Exhibit 53: Data Table on Usage - Market share 2022-2027 (%)

• 7.2 Comparison by Usage 
• Exhibit 54: Chart on Comparison by Usage
• Exhibit 55: Data Table on Comparison by Usage

• 7.3 Coolant - Market size and forecast 2022-2027
• Exhibit 56: Chart on Coolant - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Coolant - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Coolant - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Coolant - Year-over-year growth 2022-2027 (%)

• 7.4 Refrigerant - Market size and forecast 2022-2027
• Exhibit 60: Chart on Refrigerant - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Refrigerant - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Refrigerant - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Refrigerant - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Usage 
• Exhibit 64: Market opportunity by Usage ($ million)
• Exhibit 65: Data Table on Market opportunity by Usage ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 103: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027
• Exhibit 107: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ million)
• Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 Air Liquide SA 
• Exhibit 119: Air Liquide SA - Overview
• Exhibit 120: Air Liquide SA - Business segments
• Exhibit 121: Air Liquide SA - Key offerings
• Exhibit 122: Air Liquide SA - Segment focus

• 12.4 Air Products and Chemicals Inc. 
• Exhibit 123: Air Products and Chemicals Inc. - Overview
• Exhibit 124: Air Products and Chemicals Inc. - Business segments
• Exhibit 125: Air Products and Chemicals Inc. - Key news
• Exhibit 126: Air Products and Chemicals Inc. - Key offerings
• Exhibit 127: Air Products and Chemicals Inc. - Segment focus

• 12.5 AMCS Corp. 
• Exhibit 128: AMCS Corp. - Overview
• Exhibit 129: AMCS Corp. - Product / Service
• Exhibit 130: AMCS Corp. - Key offerings

• 12.6 Asia Industrial Gases Pte. Ltd. 
• Exhibit 131: Asia Industrial Gases Pte. Ltd. - Overview
• Exhibit 132: Asia Industrial Gases Pte. Ltd. - Product / Service
• Exhibit 133: Asia Industrial Gases Pte. Ltd. - Key offerings

• 12.7 Asia Technical Gas Co Pte Ltd. 
• Exhibit 134: Asia Technical Gas Co Pte Ltd. - Overview
• Exhibit 135: Asia Technical Gas Co Pte Ltd. - Product / Service
• Exhibit 136: Asia Technical Gas Co Pte Ltd. - Key offerings

• 12.8 Buzwair Industrial Gases Factories
• Exhibit 137: Buzwair Industrial Gases Factories - Overview
• Exhibit 138: Buzwair Industrial Gases Factories - Product / Service
• Exhibit 139: Buzwair Industrial Gases Factories - Key offerings

• 12.9 Cryomech Inc. 
• Exhibit 140: Cryomech Inc. - Overview
• Exhibit 141: Cryomech Inc. - Product / Service
• Exhibit 142: Cryomech Inc. - Key offerings

• 12.10 Goyal Group 
• Exhibit 143: Goyal Group - Overview
• Exhibit 144: Goyal Group - Product / Service
• Exhibit 145: Goyal Group - Key offerings

• 12.11 Gulf Cryo Holding CSC 
• Exhibit 146: Gulf Cryo Holding CSC - Overview
• Exhibit 147: Gulf Cryo Holding CSC - Product / Service
• Exhibit 148: Gulf Cryo Holding CSC - Key offerings

• 12.12 Linde Plc 
• Exhibit 149: Linde Plc - Overview
• Exhibit 150: Linde Plc - Business segments
• Exhibit 151: Linde Plc - Key news
• Exhibit 152: Linde Plc - Key offerings
• Exhibit 153: Linde Plc - Segment focus

• 12.13 Messer SE and Co. KGaA 
• Exhibit 154: Messer SE and Co. KGaA - Overview
• Exhibit 155: Messer SE and Co. KGaA - Product / Service
• Exhibit 156: Messer SE and Co. KGaA - Key offerings

• 12.14 MVS Engineering Pvt. Ltd. 
• Exhibit 157: MVS Engineering Pvt. Ltd. - Overview
• Exhibit 158: MVS Engineering Pvt. Ltd. - Product / Service
• Exhibit 159: MVS Engineering Pvt. Ltd. - Key offerings

• 12.15 Nippon Sanso Holdings Co., Ltd. 
• Exhibit 160: Nippon Sanso Holdings Co., Ltd. - Overview
• Exhibit 161: Nippon Sanso Holdings Co., Ltd. - Product / Service
• Exhibit 162: Nippon Sanso Holdings Co., Ltd. - Key offerings

• 12.16 Statebourne Cryogenics Ltd. 
• Exhibit 163: Statebourne Cryogenics Ltd. - Overview
• Exhibit 164: Statebourne Cryogenics Ltd. - Product / Service
• Exhibit 165: Statebourne Cryogenics Ltd. - Key offerings

• 12.17 Yingde Gas Group Co. Ltd. 
• Exhibit 166: Yingde Gas Group Co. Ltd. - Overview
• Exhibit 167: Yingde Gas Group Co. Ltd. - Product / Service
• Exhibit 168: Yingde Gas Group Co. Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 169: Inclusions checklist
• Exhibit 170: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 171: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 172: Research methodology
• Exhibit 173: Validation techniques employed for market sizing
• Exhibit 174: Information sources

• 13.5 List of abbreviations 
• Exhibit 175: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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