Liquid Nitrogen Market Regional Analysis:
APAC Market Insights
The liquid nitrogen market in Asia Pacific is expected to hold a share of 37% by the end of 2035, owing to the robust progress of chemical and pharmaceutical industries, especially in China, and India, and the increasing demand for electronic products. In addition, the presence of a large and diverse domestic drug industry is also predicted to boost the market growth. As per a report, in 2022, about 295 acquisitions of biotechnology or pharmaceutical companies involving Chinese parties were recorded. The majority of the products produced by Chinese companies are generics, therapeutic drugs, active pharmaceutical components, and traditional Chinese remedies. In China, generic medications make up more than 90% of all registered pharmaceuticals. These factors are expanding the market growth.
North American Market Insights
North America liquid nitrogen market is anticipated to hold a share of 28% during the forecast period, growing due to an increase in the number of manufacturers and suppliers, along with a rise in research and development activities. The demand for liquid nitrogen in the healthcare sector, specifically for preserving biological samples, is also contributing to the market growth. Additionally, liquid nitrogen is utilized for welding and cutting in the metal manufacturing and construction industries, due to increased reconstruction activities.
