Liquid Nitrogen Market to grow at 5.8% CAGR from 2018 to 2025

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Liquid Nitrogen Market to hit US 17 bn by 2025
Global Market Insights Inc.
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Industry Overview

• Liquid Nitrogen Market to exceed USD 17 billion
  by 2025 driven by increasing automobile
  manufacturing in Asia Pacific. Global liquid
  nitrogen market will be driven by rapidly growing
  pharmaceutical industry. Liquid nitrogen finds
  use pharmaceutical industry in many different
  processes and applications starting from raw
  material preparation to packaging. Pharmaceutical
  is a one of the largest and significantly growing
  industry across the globe. Food beverages
  industry was the major product end-user in 2017
  and forecast to grow with a prominent CAGR in
  next few years. Growing population, technological
  advancements, streamlined manufacturing processes
  and improved cold chain facilities shall fuel the
  growth of pharmaceutical industry in coming
  years.
• However, high cost related to the liquid nitrogen
  transportation is likely the hamper the product
  demand during the forecast period. In addition,
  increasing fuel prices may hamper the liquid
  nitrogen market demand in near future. Upward
  trend in the fuel prices increases the bulk and
  packaged liquid nitrogen transportation cost and
  may propel demand for on-site production,
  particularly in gigantic chemical and
  pharmaceutical manufacturing facilities.

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• On-Site production was having the largest market
  share in liquid nitrogen market in 2017 and
  forecast to grow with a highest CAGR. This can be
  attributed to the various benefits of the on-site
  production, such as low cost, easy availability
  of the product and flexibility in the production.
  Packaged liquid nitrogen demand will gain the
  significant market share in global liquid
  nitrogen market, owing to the strong distribution
  network and increase product applications in the
  various end-use segments.
• Chemical pharmaceutical was the largest end-use
  segment in liquid nitrogen market and it shall
  create the major chunk of product demand over the
  forecast period. This can be attributed to the
  usage of the liquid nitrogen in chemical and
  pharmaceutical manufacturing. Liquid nitrogen in
  metal fabrication used to reduce the heat
  generated while manufacturing the metals. Owing
  to its high-pressure properties liquid nitrogen
  finds major application in the oil gas. It is
  used in both onshore and offshore operations.
  Liquid nitrogen is used to prevent flammable
  gases from igniting and to protect the tubulars
  from downhole corrosion. In addition, it used to
  support the drilling operations of shale gas.

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Nitrogen Market _at_ https//bit.ly/2u9OjwD
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U.S. liquid nitrogen market size, by
transportation, 2014 - 2025 (USD Million)

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Industry Coverage

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• Asia Pacific liquid nitrogen market shall grow
  with a highest CAGR during the forecast timespan,
  owing to the growth of end-use industries in the
  region. China is having the largest market share
  in global automobile manufacturing and is growing
  with prominent CAGR. Pharmaceutical is the
  largest product end-user and shall create the
  major liquid nitrogen demand in near future.
• North America was another major region in 2017
  and will grow with a significant growth rate.
  This can be attributed to the rapidly increasing
  oil gas industry in the region. Liquid nitrogen
  plays an important role in discovery and
  manufacturing of shale gas. Since 2014, the U.S.
  have started the production of shale gas from its
  northern regions at rapid pace. This increased
  production of oil gas in North America is
  likely to fuel the liquid nitrogen market growth
  in the region.
• Global liquid nitrogen market comprises many
  large multinational players as well as mid-scale
  and small-scale vendors. Some prominent players
  operating in the industry are Taiyo Nippon Sanso
  Corporation, Southern Industrial Gas Berhad,
  Emirates Industrial Gas Co. LLC, Air Liquide
  S.A., Nexair LLC, Messer Group, Linde Ag, Gulf
  Cryo, Praxair Inc. and Air products and Chemical
  Inc.

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