Liquid Nitrogen Market seems to gain immense traction on automobile sector

6:30 AM, 15th January 2021
Liquid nitrogen market has achieved maturation in the automobile sector due to the product's large-scale demand across APAC region. Supporting this, various auto manufacturers are looking forward to producing the engines that find operability on liquid nitrogen.

Liquid nitrogen market has achieved maturation in the automobile sector chiefly due to the product’s large-scale demand across the emerging countries in the APAC region. Supporting this, various automobile manufacturers are looking forward to producing the engines that find operability on liquid nitrogen.

Irrefutable properties of the liquid nitrogen like the environment friendly and cost efficiency have provided an added-on advantage in the growth of liquid nitrogen market from the automotive segment.

On the other hand, chemical and pharmaceutical sector, in 2017, was slated to be the largest end-use segment and is speculated to register a major proportion of the industry share by 2025.

The global liquid nitrogen industry, as per the transportation mode is segmented into three modes - on-site production, bulk liquid and packaging.

The on-site production segment is projected to accrue hefty proceeds over the foreseeable time on the grounds of innumerable benefits such as reduced costs, easy availability and flexibility in the production.

The segment in 2017 acquired approximately a major share in the liquid nitrogen industry across the transportation mode. Imperatively, it is one of the most convenient modes of transportation on daily basis.

Supported by profusion of features, liquid nitrogen finds huge scope across a plethora of industries which rely massively on nitrogen in every way. This is subjected to accelerate the liquid nitrogen market growth over the span of seven years.

The worldwide liquid nitrogen market, needless to mention, is massively driven by the rapidly expanding food and beverages industry. The product is used to freeze the food products at a faster rate and also helps preserve and transport food efficiently. Product adoption across the sector is remarkably rising owing to the burgeoning population and high consumer inclination towards frozen foods, prompting liquid nitrogen market from food and beverages segment to amass noteworthy gains over 2018-2025.

Procuring a considerable share of global liquid nitrogen market share in 2017, chemical and pharmaceutical sector has emerged to become one of the major revenue pockets for the industry. What has contributed to the growth of this segment is proliferating use of liquid nitrogen in pharmaceutical industry over the past years. The product finds application across the industry right from raw material preparation to the final product packaging, leaving ample room for market expansion.

Growth Drivers: 

  • Strong growth indicators in pharmaceutical industry
  • Increasing automobile manufacturing in Asia Pacific
  • Strong product demand in rubber & plastic manufacturing

Linde Ag, Praxair Inc, Air Liquide SA, Nexair LLC, Taiyo Nippon Sanso Corporation, Messer Group, Air Products and Chemicals Inc, Gulf Cryo, Transportation landscape, Emirates Industrial Gases Co LLC, Southern Industrial Gas Berhad are the major companies in the market.

Browse key industry insights spread across 146 pages with 243 market data tables & 18 figures & charts from the report, “Liquid Nitrogen market size by transportation (on-site production, bulk liquid, packaged), by end-user (automotive, chemical & pharmaceutical, rubber & plastic, food & beverages, healthcare, metal fabrication, oil & gas) industry analysis report, regional outlook, application growth potential, price trends, competitive market share & forecast, 2018 – 2025” in detail along with the table of contents:

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Arun Hegde
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Global Market Insights Inc.
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