Liquid Nitrogen Market Trends

Growth Drivers

• Increasing Demand for Liquid Nitrogen in Industrial Gas and Electronic Product Applications – Increasing demand for liquid nitrogen is estimated to fuel the liquid nitrogen market over the forecast period in applications for industrial gases and electronic devices. According to a study, industrial gases are an essential component for any production industry, including the food, electronics, construction, and chemical industries. As per a report, the biggest industrial gas businesses in the world are Taiyo Nippon Sanso, Air Products, Linde, and Air Liquide. These four firms collectively control more than 80% of the industrial gas sector. In the electronics sector, it is also employed as a semiconductor. These factors are driving the market growth.
• Growing Infrastructural Activities – Around the world, liquid nitrogen is frequently employed in construction projects. Pharmaceutical, food processing, chemical, and manufacturing industries are a few of them. In addition, as infrastructure projects increase globally, liquid nitrogen is in great demand for a variety of engineering and construction projects. 
• Growing Application in Automotive Sector – Liquid nitrogen can be utilized as a coolant for vehicles in the age of automotive emissions and air pollution. As a result, growing automotive production will fuel liquid nitrogen market expansion. For instance, around 68.21% of all motor vehicle sales worldwide were passenger automobiles, which accounted for the greatest percentage of sales.

Challenges

• Severe Effects of Liquid Nitrogen – If not utilized properly, at the proper temperature, and in the proper quantity, liquid nitrogen can be detrimental to the body. If cryogenic liquid gas comes into direct contact with the body, it can result in cold burns. Therefore, it is anticipated that its negative effects on human health will impede market expansion.
• High Cost Associated with the Production of Liquid Nitrogen
• Liquid nitrogen storage tank regulations