The global Industrial Liquid Nitrogen Market is expected to display higher growth rate in the upcoming period. Rapid surge in the market is credited to the growing demand for liquid nitrogen in oil & gas sector and electronic devices market. Rise in the number of industry players that are strictly implementing environmental health and safety measure regulated by various governmental authorities to handle liquid nitrogen is expected to drive the growth of liquid nitrogen market over the forecast period. Globally, industrial liquid nitrogen market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of industrial liquid nitrogen.
Increase in number of chemical and metal manufacturers in both developed and developing economies across the globe are offering a lucrative opportunity for liquid nitrogen manufacturers to generate large revenue over the upcoming period. Additionally, rise in the use of the liquid nitrogen by electronics manufacturers for cooling of electronic devices during various manufacturing processes is expected to boost market demand of the liquid manufactures in the upcoming years.
Increasing adoption of liquid nitrogen as a coolant and refrigerant by a number of end-user industries like pharmaceutical, metal fabrication, and frozen food sector are anticipated to drive the growth of liquid nitrogen market over the forecast period. Other applications of the liquid nitrogen extends to food & beverages sector, rubber & plastic manufacturing, automobile sector, electronics devices market, healthcare sector, and construction & building industry.
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Cryogenic distillation is considered as one of the fastest growing segments in the liquid nitrogen market with substantial revenue generation in the last couple of years. The other factors spurring the demand for cryogenic distillation is increasing utilization in the fabrication of semiconductor devices. Cryogenic distillation is broadly adopted during the production of liquefied industrial gases because of the factors such as low initial investment and few utility requirements.
Substantial investment by leading industry players in research & development for the liquid nitrogen technologies is leading development of innovative products. These factors are critical for sustaining the growth of liquid nitrogen market during the forecast period.
The industrial liquid nitrogen market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies, surge in number of research & development activities and existence of well-established infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth over the coming years.
Asia-Pacific region is estimated to hold a major share in the industrial liquid nitrogen market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth in the region, ever-growing population demands, rapid industrialization, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the industrial liquid nitrogen market are Air Liquide S.A., The Linde Group, Praxair Incorporations, Air Products & Chemicals Incorporations, Taiyo Nippon Sanso Co., Messer Group Co., Emirates Industrial Gases Corporations, Gulf Cryo Co., Southern Industrial Gas Berhad Sdn. Bhd., and Nexair LLC.
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Leading players of Industrial Liquid Nitrogen including:
• The Linde Group
• Air Liquide
• Praxair Technology
• Air Products
• Yingde Gases Group
• TAIYO NIPPON SANSO
• Nippon Steel & Sumitomo Metal Corporation Group
Market split by Type, can be divided into:
• Cryogenic Fractional Distillated
• Pressure Swing Adsorpted
• Membrane Separated
Market split by Application, can be divided into:
• Metal manufacturing & fabrication
• Oil & gas
• Pharmaceutical & healthcare
• Food & beverages
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/chemicals-and-materials
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