Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Liquid Nitrogen Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
How Will the Liquid Nitrogen Market Grow Between 2024 and 2025?
The market size of Liquid Nitrogen has seen substantial growth recently. The market, which was valued at $18.31 billion in 2024, is projected to increase to $19.24 billion in 2025 with a Compound Annual Growth Rate (CAGR) of 5.0%.
How Much Will the Liquid Nitrogen Market Be Worth in 2029?
The Liquid Nitrogen market is projected to reach a value of $25.25 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.0%.
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Which Liquid Nitrogen Market Drivers Are Linked to Revenue Growth?
The key Drivers in the liquid nitrogen market are:
• Surge in demand from the healthcare sector
• Utilization of liquid nitrogen in maintaining or restoring physical, mental, or emotional well-being
• Liquid nitrogen's use in the removal of warts, precancerous cells, and unwanted skin
• The role of liquid nitrogen in cryogenics and fast freezing of living cells
Which Segments Are Expected to Grow in the Liquid Nitrogen Market?
The liquid nitrogenmarket covered in this report is segmented –
1) By Manufacturing Process: Cryogenic Distillation, Pressure Swing Adsorption, Other Manufacturing Processes
2) By Function: Coolant, Refrigerant
3) By Industry Vertical: Chemicals and Pharmaceuticals, Food and Beverage, Healthcare, Metal Manufacturing and Construction, Rubber and Plastic, Other Industry Verticals
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What Are The Key Trends Impacting Growth In The Global Liquid Nitrogen Market?
The key trends in the liquid nitrogen market are:
• The liquid nitrogen market is seeing advancements in precision cooling and freezing technologies.
• A growing demand from sectors such as healthcare, food processing, and biotechnology is influencing market trends.
• There is a considerable emphasis on developing devices that enable efficient cryopreservation.
• The market is witnessing a trend towards producing larger capacity regulated freezers for optimizing nitrogen use and power requirements.
Who Are the Key Competitors in the Global Liquid Nitrogen Market?
The key players in the liquid nitrogen market are:
• Air Products and Chemicals Inc.
• Linde plc
• NexAir LLC
• Statebourne Cryogenics Ltd.
• Taiyo Nippon Sanso Corporation
• Gulf Cryo
• Emirates Industrial Gases Co. LLC
• Southern Industrial San Bhd
• Universal Industrial Gases Inc.
• Yingde Gases Group
• Messer Group
• AMCS Corporation.
• Air Liquide S.A.
• Asia Industrial Gases Pte. Ltd.
• MVS Engineering Pvt. Ltd.
• Cryogenic Industries Inc.
• Chart Industries Inc.
• Cryofab Inc.
• Cryoquip Inc.
• Cryostar SAS
• Buzwair Industrial Gases Factories
• INOX Air Products Pvt. Ltd.
• Yateem Oxygen
• Cryomech Inc.
Where Is the Liquid Nitrogen Market Growing Fastest Between 2025 and 2029?
North America was the largest region in the liquid nitrogen market in 2024
