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Global Liquid Nitrogen Market is estimated to be valued at USD 22.82 Bn in 2025 and is expected to reach USD 33.87 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.8% from 2025 to 2032.

The global liquid nitrogen market has witnessed significant growth in recent years, driven by its increasing applications across various industries. Liquid nitrogen, a colorless, odorless, and tasteless cryogenic liquid, is produced through the liquefaction of atmospheric air. It finds extensive use in food processing, healthcare, manufacturing, and scientific research due to its unique properties, such as ultra-low temperature and ability to rapidly cool materials. The market's expansion is fueled by technological advancements, growing demand for cryogenic processing, and the need for efficient cooling solutions in diverse sectors. This article aims to provide a comprehensive overview of the global liquid nitrogen market, including its market dynamics, key features, and future prospects.

Market Dynamics:

The global liquid nitrogen market is influenced by several factors that shape its growth trajectory. One of the primary drivers is the increasing demand from the healthcare sector, where liquid nitrogen is used in cryotherapy, cryosurgery, and the preservation of biological samples. The growing prevalence of chronic diseases and the need for advanced treatment options are expected to boost the demand for liquid nitrogen in healthcare applications. Additionally, the food processing industry heavily relies on liquid nitrogen for freezing, chilling, and packaging purposes, contributing to the market's growth. However, the market also faces certain restraints, such as the high cost of production and storage, as well as stringent regulations regarding the handling and transportation of cryogenic liquids. Despite these challenges, the market presents significant opportunities for growth,

Key Features of the Study:

• This report provides in-depth analysis of the global liquid nitrogen market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global liquid nitrogen market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Air Products and Chemicals, Inc., Linde plc, Praxair Technology, Inc., Matheson Tri-Gas, Inc., Air Liquide S.A., Messer Group GmbH, Cryogenmash, Universal Industrial Gases, Inc., Reliance Gas, Southern Industrial Gas Sdn Bhd, Gulf Cryo, Indura S.A., INOX Air Products, NOVA Chemicals, and Graham Partners
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global liquid nitrogen market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global liquid nitrogen market

Market Segmentation

• Production Method Insights (Revenue, USD Bn, 2020 - 2032)
  • Cryogenic Distillation
  • Pressure Swing Adsorption (PSA)
  • Others
• Storage Insights (Revenue, USD Bn, 2020 - 2032)
  • Cylinders & packaged gas
  • Merchant liquid/ Bulk
  • Tonnage
  • Others
• Function Insights (Revenue, USD Bn, 2020 - 2032)
  • Coolant
  • Refrigerant
• End-use Industry Insights (Revenue, USD Bn, 2020 - 2032)
  • Chemicals & pharmaceuticals
  • Healthcare
  • Food & beverages
  • Metal manufacturing & construction
  • Rubber & plastic
  • Others
• Regional Insights (Revenue, USD Bn, 2020 - 2032)
  • North America
  • U.S.
  • Canada
  • Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
  • Europe
  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
  • Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
  • Africa
  • South Africa
  • North Africa
  • Central Africa
• Key Players Insights
  • Air Products and Chemicals, Inc.
  • Linde plc
  • Praxair Technology, Inc.
  • Matheson Tri-Gas, Inc.
  • Air Liquide S.A.
  • Messer Group GmbH
  • Cryogenmash
  • Universal Industrial Gases, Inc.
  • Reliance Gas
  • Southern Industrial Gas Sdn Bhd
  • Gulf Cryo
  • Indura S.A.
  • INOX Air Products
  • NOVA Chemicals
  • Graham Partners

Table of Contents

1. Research Objectives and Assumptions

• Research Objectives
• Assumptions
• Abbreviations

2. Market Purview

• Report Description
  • Market Definition and Scope
• Executive Summary
  • Global Liquid Nitrogen Market, By Production Method
  • Global Liquid Nitrogen Market, By Storage
  • Global Liquid Nitrogen Market, By Function
  • Global Liquid Nitrogen Market, By End-use Industry
  • Global Liquid Nitrogen Market, By Region

3. Market Dynamics, Regulations, and Trends Analysis

• Market Dynamics
• Impact Analysis
• Key Highlights
• Regulatory Scenario
• Product Launches/Approvals
• PEST Analysis
• PORTER's Analysis
• Market Opportunities
• Regulatory Scenario
• Key Developments
• Industry Trends

4. Global Liquid Nitrogen Market, By Production Method, 2020-2032, (USD Bn)

• Introduction
  • Market Share Analysis, 2025 and 2032 (%)
  • Y-o-Y Growth Analysis, 2021 - 2032
  • Segment Trends
• Cryogenic Distillation
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
• Pressure Swing Adsorption (PSA)
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
• Others
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)

5. Global Liquid Nitrogen Market, By Storage, 2020-2032, (USD Bn)

• Introduction
  • Market Share Analysis, 2025 and 2032 (%)
  • Y-o-Y Growth Analysis, 2021 - 2032
  • Segment Trends
• Cylinders & packaged gas
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
• Merchant liquid/ Bulk
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
• Tonnage
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
• Others
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)

6. Global Liquid Nitrogen Market, By Function, 2020-2032, (USD Bn)

• Introduction
  • Market Share Analysis, 2025 and 2032 (%)
  • Y-o-Y Growth Analysis, 2021 - 2032
  • Segment Trends
• Coolant
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
• Refrigerant
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)

7. Global Liquid Nitrogen Market, By End-use Industry, 2020-2032, (USD Bn)

• Introduction
  • Market Share Analysis, 2025 and 2032 (%)
  • Y-o-Y Growth Analysis, 2021 - 2032
  • Segment Trends
• Chemicals & pharmaceuticals
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
• Healthcare
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
• Food & beverages
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
• Metal manufacturing & construction
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
• Rubber & plastic
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
• Others
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)

8. Global Liquid Nitrogen Market, By Region, 2020 - 2032, Value (USD)

• Introduction
  • Market Share (%) Analysis, 2025, 2028 & 2032, Value (USD)
  • Market Y-o-Y Growth Analysis (%), 2021 - 2032, Value (USD)
  • Regional Trends
• North America
  • Introduction
  • Market Size and Forecast, By Production Method, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Storage, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Function, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD)
    • U.S.
    • Canada
• Latin America
  • Introduction
  • Market Size and Forecast, By Production Method, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Storage, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Function, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD)
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
• Europe
  • Introduction
  • Market Size and Forecast, By Production Method, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Storage, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Function, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD)
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
• Asia Pacific
  • Introduction
  • Market Size and Forecast, By Production Method, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Storage, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Function, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD)
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
• Middle East
  • Introduction
  • Market Size and Forecast, By Production Method, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Storage, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Function, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD)
    • GCC Countries
    • Israel
    • Rest of Middle East
• Africa
  • Introduction
  • Market Size and Forecast, By Production Method, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Storage, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Function, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD)
  • Market Size and Forecast, By Country/Region, 2020 - 2032, Value (USD)
    • South Africa
    • North Africa
    • Central Africa

9. Competitive Landscape

• Air Products and Chemicals, Inc.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Linde plc
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Praxair Technology, Inc.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Matheson Tri-Gas, Inc.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Air Liquide S.A.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Messer Group GmbH
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Cryogenmash
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Universal Industrial Gases, Inc.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Reliance Gas
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Southern Industrial Gas Sdn Bhd
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Gulf Cryo
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Indura S.A.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• INOX Air Products
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• NOVA Chemicals
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Graham Partners
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies

10. Analyst Recommendations

• Wheel of Fortune
• Analyst View
• Coherent Opportunity Map

11. References and Research Methodology

• References
• Research Methodology
• About us