Quadintel published a new report on the Liquid Nitrogen Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
Global Liquid Nitrogen Market is valued at approximately USD 16.14 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.28% over the forecast period 2022-2028.
Liquid Nitrogen (LN2) is the most commonly used cryogenic liquid. Liquid Nitrogen is the fractional distillation of the liquid air that includes sharing of two covalent bonds of nitrogen. It is a cryogenic liquid, which is condensed gases that have limits beneath 130F.
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Liquid Nitrogen is non-combustible, dry, idle, scentless, and non-poisonous gas that is commonly used as a cryogenic refrigerant in various applications. The increasing industrialization and rapid urbanization, growing demand for LN2 in industrial gas and electronic products, coupled with the rising adoption of Liquid Nitrogen in various applications such as metal fabrication, electronics, healthcare, automotive, and lighting are the significant factors that may accelerate the market demand across the globe. For instance, according to the Indian Brand Equity Foundation (IBEF), in 2019, the appliances and consumer electronics market was accounted for USD 10.93 billion in India and projected to reach USD 21.18 billion by 2025. Thereby, the growth of the electronic industry is further propelling the market demand. However, structural and regulatory restrictions impede the growth of the market over the forecast period of 2022-2028. Also, high demand from the chemical industry is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the Global Liquid Nitrogen Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the increasing number of developmental activities, coupled with a huge presence of the leading manufacturers and suppliers in the region. Whereas, Asia-Pacific is also anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the emerging economies, rising disposable income, and growth of the chemicals, electronic, and metal manufacturing industries would create lucrative growth prospects for the Liquid Nitrogen Market across the Asia-Pacific region.
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Major market players included in this report are:
Air Products and Chemicals Inc.
Emirates Industrial Gases Co. LLC.
Asia Industrial Gases Pte. Ltd
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Storage, Distribution, and Transportation
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Furthermore, years considered for the study are as follows:
Target Audience of the Global Liquid Nitrogen Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
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The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.
What aspects regarding the regional analysis Market are included in this report?
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