Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Liquid Nitrogen Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The Global Liquid Nitrogen Market Report for 2024: Deep Dive into Industry Verticals and Regional Growth Dynamics
As industries worldwide continue to seek advanced cooling solutions, the global liquid nitrogen market is experiencing robust expansion, with significant advances particularly noted in the healthcare and food and beverage sectors.
A comprehensive market research report detailing this growth and the future outlook of liquid nitrogen's applications across diverse verticals is now available for industry stakeholders.
Key Drivers and Market Trends
The liquid nitrogen market is witnessing substantial growth attributed to its critical role in the healthcare industry, food and beverage preservation, and specialized industrial applications. The latest report encapsulates the market trends that are forecasted to contribute to the rise in market value from $17.29 billion in 2023 to an anticipated $23.86 billion by 2028, progressing at a steady compound annual growth rate (CAGR) of 6.7%.
Industry Applications Fueling Expansion
- Healthcare Sector: In medical applications like cryopreservation and dermatological treatments, the utilization of liquid nitrogen continues to drive the sector's growth.
- Food and Beverage: With rapid freezing capabilities essential for quality preservation, the substance is critical to the development of frozen desserts, ice cream, and cryogenic processing in food safety.
- Emerging Technologies: The advent of new technologies such as cryotherapy and biopreservation is further complementing the upsurge in market demand for liquid nitrogen.
Regional Insights
North America stands as the biggest contributor to the liquid nitrogen market currently, but the Asia-Pacific region is expected to surpass growth rates during the forecasted period. This is due to the expanding industrial base and increased usage in healthcare and technology sectors within these regions.
The report analyzes vital market segments, shedding light on the competitive landscape and offering a deep examination of the factors driving industry progress. It serves as a crucial resource for enterprises operating in or entering the liquid nitrogen domain, addressing market opportunities and challenges that lie ahead.
Strategic partnerships and mergers, as harnessing the innovations in pressure swing adsorption technology, are key strategies adopted by major players to strengthen their market position and deliver high-quality liquid nitrogen solutions. These alliances are vital for expanding their operational capabilities and meeting the rising demand in niche markets.
Comprehensive Analysis for Informed Decision-Making
Stakeholders stand to benefit from the detailed insights and projections provided in this report, empowering them with the knowledge to make strategic decisions. The exhaustive analysis enclosed within the report is poised to guide market professionals, investors, and businesses to navigate the promising trajectory of the liquid nitrogen industry.
Note: The report offers a holistic view of the market without focusing on sales offers or customization details, providing pure insights and factual milestones for businesses and industry analysts.
For further information and to understand the breadth and depth of the liquid nitrogen market's potential, access the full report available now.
A selection of companies mentioned in this report includes
- Air Products and Chemicals Inc.
- Linde plc
- Praxair Inc.
- 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.
- The Linde Group
- Asia Industrial Gases Pte. Ltd.
- MVS Engineering Pvt. Ltd.
- Airgas Inc.
- Cryogenic Industries Inc.
- Chart Industries Inc.
- Cryofab Inc.
- Cryoquip Inc.
- Cryostar SAS
- Buzwair Industrial Gases Factories
- INOX Air Products Pvt. Ltd.
- Yateem Oxygen
- Fujitsu Limited
- Cryomech Inc.
For more information about this report visit https://www.researchandmarkets.com/r/mwbcup
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