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The increasing consumer demand for electronics products is the major factor contributing to propelling the market growth. In addition, growing adaption of liquid nitrogen in the food and beverage industry is another factor accelerating market growth
JERSEY CITY, N.J. , Oct. 26, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Liquid Nitrogen Market" By Storage, Distribution, And Transportation (Tonnage Distribution, Merchant Liquid Distribution, and Cylinder & Packaged Distribution), By Manufacturing Process (Cryogenic Distillation and Pressure Swing Adsorption), By End-User (Metal Manufacturing & Construction, Healthcare, Food & Beverage), and By Geography. According to Verified Market Research, the Global Liquid Nitrogen Market size was valued at USD 15.22 Billion in 2020 and is projected to reach USD 21.83 Billion by 2028, growing at a CAGR of 4.74% from 2021 to 2028.
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Global Liquid Nitrogen Market Overview
Liquid Nitrogen is the fractional distillation of the liquid air that is comprised of sharing the two covalent bonds of nitrogen. It is an inert cryogenic fluid with a temperature of − 196 °C. It is inert, colorless, odorless, non-corrosive, non-flammable nitrogen. Liquid Nitrogen is commercially produced by compressing and cooling nitrogen gas to a point below its evaporation point at around− 196 °C. Most common application of the liquid nitrogen is cryogenic refrigerant. The liquid nitrogen contains large amount of air (80%) thus, it can be manufactured easily with high thermal capacity representing long retention time. This liquid is used to serve the purpose of coolant in superconductors, vacuum pumps, and other materials and equipment.
In Medical sector, the liquid nitrogen is used for shielding for the liquid helium used for MRIs and cold temperature medical and beauty treatments. It is also used in removal of unwanted skin, precancerous cells, warts, and cryogenics. Liquid nitrogen in general considered as the cryogenic liquid that is capable of rapid freezing within the contact of living cells. Hence, it is used in cryopreservation of biological samples, such as sperm, eggs, and animal genetic samples.
Key Developments in Liquid Nitrogen Market
The major players in the market are Linde Group, Gulf Cryo, Nexair LLC., Praxair Inc., Air Liquide S.A., Messer Group, Taiyo Nippon Sanso Corporation, Air Products and Chemicals, Inc., Emirates Industrial Gases Co. LLC. And Southern Industrial Gas Berhad.
Verified Market Research has segmented the Global Liquid Nitrogen Market On the basis of Storage, Distribution, And Transportation, Manufacturing Process, End-User, and Geography.
Laboratory Gas Generators Market By Type (Nitrogen Gas Generators, Hydrogen Gas Generators, Zero Air Generators), By Application (Liquid Chromatography-Mass Spectrometry, Gas Chromatography, Gas Analyzers), By End-User (Life Science Industry, Chemical and Petrochemical Industry), By Geography, Forecast, 2021-2028
Food-Grade Industrial Gases Market By Product (Carbon Dioxide, Nitrogen, and Oxygen), By Application (Beverages, Meat, Fish & Seafood), By Geography, Forecast, 2021-2028
Gas Sensors Market By Type (Carbon dioxide, Carbon monoxide, Oxygen, and Nitrogen oxide), By Vertical (Oil & Gas, Automotive & Transportation, and Environmental monitoring & water treatment), By Geography, Forecast, 2021-2028
Global Nitrogenous Octane Boosters Market By Geography, Forecast, 2021-2028
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