Liquid Nitrogen Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

Liquid nitrogen is used in a large number of ways in industry. The market is expected to grow from a current size of $ 16.32 billion in 2024 to $ 26 billion in 2035. The CAGR of 4.36% between 2025 and 2035 is based on this growth rate. The rising demand for liquid nitrogen in the food and beverage industry, in the medical and pharmaceutical industry and in the electrical industry is a major growth driver for this market. The use of liquid nitrogen is increasing in all industries, as cooling and preservation solutions become more and more efficient. The technological development and innovation in the production and use of liquid nitrogen also promote the market. The development of more efficient cryogenic storage systems and the increasing use of liquid nitrogen in cryopreservation are a few examples of this. The main players in the market, such as The Linde Group, Air Products and Chemicals, Inc. and Praxair, Inc., are actively involved in strategic activities such as establishing collaborations and investing in research and development in order to enhance their product offerings and market share. This not only increases the competition in the market, but also reflects the continuous development of the liquid nitrogen market as it evolves to meet the needs of various industries.

Regional Market Size

Regional Deep Dive

The Liquid Nitrogen Market is characterized by a wide range of applications in various industries, including food preservation, medical, and manufacturing. The growth of this market is influenced by many factors, including industrial growth, technological development, and regulatory framework. The cryogenics industry is growing, and the food and beverage industry is growing. The environment and safety standards are regulating the industry. The industry is evolving and adapting to new technology and green initiatives.

Europe

• Europe is concentrating on the environment, and many companies are using liquid nitrogen in the production of green energy. Notable players like Linde and Air Liquide are launching initiatives to develop cleaner technology.
• The European Union's stringent regulations on emissions and waste management are driving industries to adopt liquid nitrogen for its efficiency in cooling and preservation, particularly in pharmaceuticals and biotechnology sectors.

Asia Pacific

• Industrialization is rapidly advancing in Asia and the Pacific. The demand for liquid nitrogen in the sectors of electronics and health care is rising. The Messer Group and Taiyo Nippon Sanso are expanding their operations to meet the increasing demand.
• Innovations in cryogenic technology, particularly in Japan and South Korea, are enhancing the efficiency of liquid nitrogen applications in manufacturing processes, which is expected to significantly impact production capabilities in the region.

Latin America

• Latin America is seeing a rise in the adoption of liquid nitrogen in the food processing industry, with companies like Indura and Air Products investing in local production facilities to meet regional needs.
• Regulatory frameworks in countries like Brazil are evolving to support the use of liquid nitrogen in food safety and preservation, which is expected to enhance market growth as food safety standards become more stringent.

North America

• Liquid nitrogen is undergoing a marked increase in demand in the North American market, particularly in the food industry, where it is used for the preservation and packaging of food. Companies such as Praxair and Air Products are investing in cryogenics in order to increase efficiency and reduce costs.
• A change in regulations, particularly in the United States, concerning the safety of food and its preservation methods, is driving the manufacturers to adopt liquid nitrogen solutions. The approval of nitrogen as a safe preservative by the Food and Drug Administration is expected to boost the sector.

Middle East And Africa

• In the Middle East and Africa, the liquid nitrogen market is driven by the oil and gas industry, where it is used for enhanced oil recovery and cooling applications. Companies like Gulf Cryo are expanding their services to cater to this demand.
• The region's growing focus on food security and preservation is leading to increased investments in liquid nitrogen technologies, supported by government initiatives aimed at improving agricultural practices and food supply chains.

Did You Know?

“Liquid nitrogen is so cold that it can freeze a flower in seconds, making it a popular choice for preserving biological samples and food products.” — National Institute of Health

Segmental Market Size

Liquid nitrogen has a long history as a refrigerant. In recent years, the cryogenic properties of liquid nitrogen have been recognized as being especially useful in cryogenic processes in medicine. This has led to a steady growth in the use of liquid nitrogen in medicine. The increasing use of liquid nitrogen in industry for cooling and inerting also adds to the stability of this market. At present, the development of liquid nitrogen is in a mature stage. The leading companies in this field are Air Products and Chemicals, Inc. and The Linde Group. The main applications of liquid nitrogen are in the food industry, in medicine for cryopreservation and in the semiconductor industry for cooling. As a result of the growing trend towards a sustainable economy, energy conservation and the development of cryogenics, liquid nitrogen will continue to be an important resource for various industries.

Future Outlook

From 2024 to 2035, the global liquid nitrogen market is expected to grow at a CAGR of 4.36% from $16.32 billion to $26 billion. The growth of this market is driven by the growing demand for liquid nitrogen in various fields such as food preservation, medicine and industry. In particular, as more and more industries adopt liquid nitrogen due to its high efficiency and cost-effectiveness, the penetration rate will be further increased, especially in emerging markets where industrialization is accelerating. In 2035, it is expected that the food processing and cryopreservation application of liquid nitrogen will account for more than 50% of the total demand. , driven by technological progress and increasing public awareness of food safety and quality. Also, cryogenic storage and transportation will be further developed, and the potential for market growth will be further enhanced. The development of more efficient liquefaction methods and the automation of liquid nitrogen application systems will reduce the cost of using liquid nitrogen and increase its application efficiency. The support of the government in terms of sustainable development and the reduction of carbon dioxide will also increase the industry's demand for liquid nitrogen. The demand for liquid nitrogen is also expected to increase with the popularity of nitrogen-containing beverages and the development of the pharmaceutical industry. Liquid nitrogen will become a key material in the development of high-speed growth industries in the next 10 years.