Top 3 trends favoring liquid nitrogen market outlook through 2025

11:22 AM, 21st January 2021
Liquid nitrogen or LN2 is finding immense use in packaged foods & beverages to freeze and preserve food items during long transits. The food & beverage sector is growing rapidly on account of rising shift in consumer preferences and mounting population growth.

The demand for liquid nitrogen is anticipated to touch new high as food & beverage businesses continue to record rapid growth. Liquid nitrogen or LN2 is finding immense use in packaged foods and beverages to freeze and preserve food items during long transits. The food & beverage sector is growing rapidly on account of rising shift in consumer preferences and mounting population growth. 

However, rising imposition of stringent regulations pertaining to the use of liquid nitrogen in consumables could affect the product demand slightly over the coming years. Various regulatory bodies are restricting or controlling the use of liquid nitrogen in food items due to numerous health effects associated with the compound on the human body. 

LN2 is also experiencing heavy demands across the semiconductor industry as more players look for effective cooling options for their chipsets. With the emergence of advanced GPUs that possess the ability to be overclocked at a higher rate, the need for efficient cooling solutions has become imminent.

Recently, a tech enthusiast in China had managed to overclock his AMD RX 6800 XT to 2.8 Ghz with the help of liquid nitrogen, ranking it as the fastest GPU present at the moment in the world.

According to a study conducted by Global Market Insights Inc, global liquid nitrogen market size could surpass $17.2 billion by the year 2025. This growth can be attributed to some of the ongoing trends explained below.

Consistent demand across the automotive sector -

The rampant growth of the automotive sector in Asia Pacific could propel the demand for LN2. Estimates suggest that the end-use segment might register the highest CAGR than any other segment within the next few years. Automakers are working on developing engines that can run on liquid nitrogen. It could be a cost-effective and environmentally friendly alternative for petroleum-based fuel.

Promising growth opportunities across APAC -

Growing presence of automobile companies in the region could boost the Asia Pacific liquid nitrogen market share over the forthcoming years. It is reported that over half of the global commercial and passenger vehicles are produced in the region. Factors like ample availability of skilled labor and supportive regulatory norms could advance the expansion of automotive sector in APAC. This could in turn be beneficial for regional local liquid nitrogen companies. 

Adoption of modern business strategies -

The global liquid nitrogen industry has a fair share of local and multinational players including Taiyo Nippon Sanso Corporation, Air Liquide SA, Southern Industrial Gas Berhad, Messer Group, Linde AG, Emirates Industrial Gas Co LLC, Nexair LLC, Gulf Cryo Chemical Inc, Praxair Inc and Air products, among others. 

These companies are constantly focusing on broadening their geographical reach by implementing lucrative business strategies such as new product launches, business expansion projects and R&D activities. Taking December 2018 for instance, Dearman had partnered with Air Products to introduce a new liquid nitrogen refueller that complements Dearman’s transport refrigeration units (TRU).

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: https://www.gminsights.com/request-sample/detail/2530

© Worldofchemicals News

Contact Info:

Arun Hegde
Corporate Sales, USA
Global Market Insights Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com

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