Florida, Feb 16: Market Research Engine has published a new report titled as “Liquid Nitrogen Market by Function (Coolant, Refrigerant, Fuel), by Production Technology, by Industry (Chemicals, Pharmaceuticals & Automotives), by Storage, Distribution & Transportation (Cylinder & Packaged Gas) – Global Trends and Forecast 2015 – 2022.”
The liquid nitrogen market size is projected to grow from USD 12.48 Billion in 2015 to more than USD 15.00 Billion by 2022, at a CAGR of more than 5.00%. The liquid nitrogen market is growing rapidly in accordance with the growth in the industrial gas market.
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Liquid nitrogen is being considered as a zero-emission fuel source to hydrogen and electric fuel cells. One of the main advantages to liquid nitrogen is its cost. In US it is for a tenth of the price of the milk. A recent advance in engine technology allows the energy released by vaporizing the nitrogen to be used in a much more efficient way, which has spurred engineers in Europe into more research on liquid nitrogen technology.
Liquid Nitrogen, as a Fuel, is future of Green cars because it is very cheap compared to hydrogen and electric powered cars, which are seen as Zero Emission alternatives to Petrol and Diesel.
Wherever low temperatures are needed there liquid nitrogen is used as a cryogen. It is used in cryosurgeries, cryotherapies, and cryopreservation to destroy decayed tissues and for removing warts, moles, skin tags, verrucae, and some skin cancers. Additionally, it is used as a coolant in temporary shrinking of mechanical gears at the time of machine assembly, to make better intrusion fits. This function is projected to encourage the demand for liquid nitrogen during the forecast period in this report.
Companies Profiled in this report are: Nexair LLC. (U.S.), Taiyo Nippon Sanso Corporation (Japan), Air Products and Chemicals Inc. (U.S.), Gulf Cryo (United Arab Emirates), Emirates Industrial Gases Co. LLC. (United Arab Emirates), and Southern Industrial Gas BHD (Malaysia), Linde Ag (Germany), Praxair Inc., (U.S.) Air Liquide S.A. (France).
The Liquid Nitrogen Market is segmented as per below:
By End-Use Industry:
- Chemicals & pharmaceuticals
- Food & beverages
- Metal manufacturing & construction
- Rubber & plastic
- Others (electronics and energy)
By Storage, Distribution, and Transportation:
- Cylinder & packaged distribution
- Merchant liquid distribution
- Tonnage distribution
By Manufacturing Process:
- Cryogenic distillation
- Pressure swing adsorption
- North America
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