(MENAFN- GlobeNewsWire - Nasdaq) Liquid Nitrogen market was valued at US$ 18.83 billion in 2023 and is expected to reach US$ 28.87 billion by 2031; it is estimated to register a CAGR of 5.5% from 2023 to 2031.
US & Canada, Oct. 09, 2024 (GLOBE NEWSWIRE) -- According to The Insight“Liquid Nitrogen Market Forecast to 2031 – Global and Regional Share, Trend, and Growth Opportunity Analysis – by manufacturing Method, End-Use Industry, and Geography". The market growth is attributed to the increasing use of liquid nitrogen in the Pharmaceutical industry and the rising demand for liquid nitrogen in the food & beverages industry. Liquid nitrogen can be produced for direct sale or as a byproduct of the liquid oxygen manufacturing process. The liquid nitrogen is produced commercially by using various technologies such as cryogenic separation and pressure swing adsorption.
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Liquid Nitrogen Market: Competitive Landscape and Key Developments
A few of the key players in the liquid nitrogen market include Linde Plc, L'Air Liquide SA, Air Products and Chemicals Inc, SOL SpA, Praxair Technology Inc, Nippon Sanso Holdings Corp, Ube Corporation, AIR WATER INC, Gulf Cryo LLC, Osaka Gas Co Ltd, Tokyo Gas Chemicals Co Ltd, Messer SE & Co KGaA, nexAir LLC, ADNOC Gas, and Matheson Tri-Gas Inc. Players operating in the market focus on providing high-quality products to fulfill customer demand.
Liquid nitrogen is used in applications such as aerospace & defense, automotive, chemical, food & beverages, metal fabrication, pharmaceutical, electronics & semiconductors, etc. Liquid nitrogen is used in the chemicals industry for applications such as inerting, nitrogen stripping and recovery, and reactor cooling. Also, liquid nitrogen is used for volatile organic compounds (VOCs) treatment and recovery. In the automotive industry, nitrogen is used for numerous functions, from tire inflation to welding and brazing. Various assembly plants use nitrogen to weld auto parts, frames, and other components, owing to their ability to offer the necessary atmosphere needed to produce adequate welds with any material. In addition, liquid nitrogen is used to increase the vehicle's cooling efficiency and reduce the cooling time.
The growing food & beverages industry across various economies boosts the demand for liquid nitrogen. Liquid nitrogen infusions are one of the latest eye-catching food trends. With the ability to create fog-like effects and flash-freeze foods, liquid nitrogen has recently found applications in ice cream, snacks, and cocktails. Moreover, as per the Food & Drink Federation, the food & beverages industry is the largest manufacturing sector in the UK; the food and beverage output increased by 8% in 2022 from 2021. Also, Russia has become the eighth largest market for processed food, with a trading volume of 27.5 metric tons, and drinks (alcoholic and soft), with a trading volume of 26 billion liters, as per the International Trade Administration (ITA). The increased volume shows significant demand for food and beverages across various countries.
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The liquid nitrogen market is bifurcated on the basis of manufacturing method and end-use industry. The market, based on manufacturing method, is divided into cryogenic distillation and pressure swing adsorption. The cryogenic distillation segment accounted for a larger market share in 2023. The principle of the cryogenic distillation method is based on a cryogenic distillation of liquefied air. In this method, the air separation unit is filled with atmospheric air. Then, it is compressed in the air compressor, and after being compressed, the air is sent into the cleanup system-where impurities, including moisture, hydrocarbons, and carbon dioxide-are removed. Furthermore, the air is passed through heat exchangers where it is cooled to cryogenic temperatures. At this stage, nitrogen is directed into the high-pressure distillation column where it is physically separated from other different gases and is formed at the top of the column. Finally, nitrogen is removed from the column and moved to the low-pressure column, where it is distilled till it meets the commercial specifications for purity.
By end-use industry, the market is segmented into aerospace & defense, automotive, chemical, food & beverage, metal fabrication, pharmaceutical, electronics & semiconductors, and others. The metal fabrication segment held the largest share of the market in 2023. The pharmaceutical segment held the second-largest share of the market in 2023.
In the pharmaceutical & biotechnology industry, liquid nitrogen is used for reactor cooling and lyophilization. Nitrogen is used to replace an undesirable atmosphere with an inert, dry atmosphere. Nitrogen reduces the presence of oxygen, which might provide the catalyst for combustion or adversely affect the quality of products. Nitrogen also helps maintain the sterility and cleanliness of pharmaceutical products and control the oxygen level in a workspace, labs, and throughout an entire facility. Liquid nitrogen is also important for the cryopreservation of cell samples, organs, and tissues, both for research and transplantation. Further, in the food & beverages industry, liquid nitrogen is used for freezing and chilling, flour and dough cooling, meat mixing, and modified atmosphere packaging.
Liquid nitrogen, being a cryogenic liquid, is capable of accomplishing extremely low temperatures-which makes it a top-notch tool for diverse packages in meal processing and protection. Liquid nitrogen is used for flash freezing, which involves subjecting food items to extremely low temperatures within a short period. This facilitates preserving the texture and nutritional value of the meals by minimizing ice crystal formation and preserving the integrity of cellular systems. Also, liquid nitrogen plays an important role in extending the shelf life of perishable food objects. Liquid nitrogen is used in modified atmosphere packaging (MAP) to extend the shelf life of food products. It entails replacing the air within the packaging with a managed fuel combination, which includes liquid nitrogen. Thus, the wide applications of liquid nitrogen in the food & beverages industry drive the market.
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Another method is Pressure Swing Adsorption (PSA), which is a technology that uses adsorption processes to separate nitrogen from air. PSA is useful for producing high-purity nitrogen in smaller quantities and is used in applications like food packaging and laboratory instrumentation. However, it requires a steady ambient temperature and is associated with high initial capital costs. Additionally, the purity level of the nitrogen produced using PSA is linked to the flow rate, with high-purity PSA systems being more expensive.
In terms of end-use industries, metal fabrication held the largest market share in 2023. Liquid nitrogen plays a crucial role in heat treatment and inerting processes. In metalworking, nitrogen is used in the annealing process to reduce hardness and increase ductility. It is also used in plasma and laser cutting of metals like stainless steel and aluminum. The rising demand for lightweight materials, especially in the aerospace and automotive sectors, is driving the growth of metal fabrication and, consequently, the demand for liquid nitrogen.
The food and beverage industry is also a major consumer of liquid nitrogen. It is used in freezing and chilling applications, such as flash freezing, which preserves food textures and nutritional values by minimizing ice crystal formation. Liquid nitrogen is also employed in modified atmosphere packaging (MAP), where it is used to extend shelf life by displacing oxygen within the packaging. These applications make liquid nitrogen a critical tool for meal processing and the preservation of perishable food items.
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In addition to metal fabrication and food and beverage, liquid nitrogen is used across other industries such as aerospace and defense, automotive, pharmaceuticals, electronics and semiconductors, and chemicals. In aerospace, for instance, it is used in propulsion and testing, while in the pharmaceutical and electronics sectors, it is used for cryogenic cooling. These diverse applications further contribute to the growing demand for liquid nitrogen.
In summary, cryogenic distillation remains the dominant method for large-scale production of liquid nitrogen due to its efficiency in producing high-purity nitrogen. The metal fabrication industry is the largest end-user sector, driven by the increasing demand for nitrogen in heat treatment and metal cutting processes. The food and beverage industry also significantly contributes to market growth due to the use of liquid nitrogen in freezing and food preservation technologies. The market is expected to continue expanding due to ongoing industrial growth, technological advancements, and the increasing application of cryogenic processes in various sectors.
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