[Online Quarterly Update] Liquid Nitrogen (LN2) is the liquid form of Nitrogen gas, industrially produced by fractional distillation of liquid air at low temperature (−195.79 °C or −320 °F) boiling point at sea level). It is a colorless, odorless, low viscosity liquid that is widely used as a coolant. Being widely used as a cryogen to shock-freeze food, store biological material, perform cryosurgery and cryogenically grind plastics, pulverization etc., the demand for Liquid Nitrogen has grown exponentially in the past few years. Hence, the global Liquid Nitrogen market is projected to grow at a CAGR of 5.5% during the forecast period.
Due to its remarkable cooling and refrigeration properties, a large quantity of Liquid Nitrogen produced globally is used in the food and beverage industry wherein it is used to maintain safe temperatures for the storage and transportation of food products. Also, LN2 is extremely beneficial in the retail food and beverage industry as it is widely used at restaurants worldwide as a method for instantly freezing food and drinks, for manufacturing novelty ice creams and cocktails or creating an impressive cloud of vapor when exposed to air. Due to its inertness and low impact on the environment, its usage in the food & beverage industry is likely to grow enormously over the forecast period. It is also used in the food packaging industry because it protects food from rancidity. This cryogenic property has led to the use of liquid nitrogen in the packaging of meat, poultry, fish, dairy products, fruits and vegetables, microwavable meals, and bakery products. Among industrial applications, it is used for rubber removal, shrink-welding of machinery, temporary ground freeze, metal hardening, and pipe freezing. Growing demand for Liquid Nitrogen from its end user industries coupled with cost advantages associated to its production, would propel its consumption in the forecast period. Growing use of Liquid Nitrogen in the pharmaceutical industry to retain the cold reaction temperature during production of medicines is expected to provide a strong impetus to the global Nitrogen market over the next five years. Moreover, rising applications for cryotherapies, cryosurgeries, and cryopreservation for curing skin, removing skin tags, skin cancers, and moles would further drive the Liquid Nitrogen consumption across the medical sector.
A number of technologies are used to manufacture Liquid Nitrogen with a range of specifications such as purity, usage pattern, portability and power consumption. Pressure Swing Adsorption (PSA) is the more cost-effective and suitable method than the traditional cryogenic distillation technology when Liquid Nitrogen of purity higher than 99% is required.
North America holds the largest market share, accounting for more than 30% of the global demand in 2019, followed by Asia Pacific. Rising number of manufacturers and suppliers in region are expected to strengthen the supply-chain. Emerging economies in the APAC regions like India and China have bolstered the market sentiment in recent years. Moreover, increased number of Cold Chain Projects in the food processing industry in India have portrayed increasing application of Liquid Nitrogen in the forecast period.
Years Considered for this Report:
Historical Years: 2015 – 2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021 – 2030
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Objective of the Study:
•The primary objective of the study was to evaluate and forecast Nitrogen capacity, production, demand and demand – supply gap globally.
•To categorize Nitrogen demand based on technology, end use, region and sales channel.
•To study company shares in Global Nitrogen market.
•To identify major customers of Nitrogen globally.
•To evaluate and forecast Nitrogen pricing in Global Nitrogen market.
•To identify and profile major companies operating in Global Nitrogen market.
•To identify major news, deals and expansion plans in Global Nitrogen market.
The global Nitrogen market carries huge market potential, driving leading players to expand their existing plant capacities and merge with the main consuming sectors. The key players operating in the global liquid nitrogen market include L’Air Liquide SA, Air Products and Chemicals,Inc., Linde Group, Praxair Inc., Messer Group Gmbh, Taiyo Nippon Sanso, Nexair LLC., Emirates Industrial Gases Co. LLC., Southern Industrial Gas BHD and Gulf Cryo. In addition, a significant portion of the international Nitrogen produced relates to customer-owned plants. In July 2020, Linde announced start-up of a new air separation unit in LaPorte, Texas to supply oxygen, nitrogen and carbon monoxide to Celanese, under a previously signed long-term agreement. The air separation unit is connected to Linde’s nitrogen and oxygen pipeline network which ensures safe and continuous supply to Celanese and customers in the region.
The unprecedented outbreak of Coronavirus led to significant plunge in the global Nitrogen demand during the first half of 2020. However, the situation is likely to improve in the latter half with the markets showing a sharp rebound with lift in lockdown restrictions and reopening of consuming sectors. Nitrogen CFR China price plummeted to USD XX/Litre, tracing the economic slowdown and a similar trend was observed in the LN2 prices of Europe and the Americas.
To extract data for Global Nitrogen market, primary research surveys were conducted with Nitrogen manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Nitrogen market over the coming years.
ChemAnalyst calculated Nitrogen global demand by analyzing the historical data and demand forecast was carried out the market dynamics of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
•Nitrogen manufacturers and other stakeholders
•Organizations, forums and alliances related to Nitrogen distribution
•Government bodies such as regulating authorities and policy makers
•Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Nitrogen manufacturers, distributors, importers and end users. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
Report Scope:
In this report, the Global Liquid Nitrogen market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Healthcare, Food & beverage, Metal manufacturing & construction, Rubber & Plastic and Others
Market, by Sales Channel
Direct/Institutional Sales, Retail Sales, Other Channel Sales
Market, by Region
North America, APAC, Europe, MEA, South America
Market, by Region
North America
United States, Mexico, Canada
APAC
China, India, Japan, South Korea, Singapore, Indonesia, Thailand
Europe
Germany, Russia, France, United Kingdom, Spain, Italy
MEA
Saudi Arabia, UAE, South Africa
South America
Brazil, Argentina, Chile
Competitive Landscape
ChemAnalyst offers detailed analysis of major players including basic company details, Segmental/product information, financial performance, growth strategies, expansion plans, SWOT analysis etc.to give a comprehensive and meaningful insights on the Global Nitrogen market.
Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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Member - Board of Directors
Osaka Gas Co. Ltd
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