Expert Market Research Explores the Top 5 Companies in the Global Liquid Nitrogen Market

The liquid nitrogen market is expected to increase rapidly following the growth in the industrial gas market across the globe. Liquid nitrogen is used as a cryogen when low temperatures are required in manufacturing.

It is widely used in cryotherapies, cryopreservation, and cryosurgeries, to destroy decayed tissues and remove warts, moles, skin tags, and some skin cancers. It is mainly used as a coolant in the shrinking of mechanical gears at machine assembly, making better intrusion fits. Another important end-use sector of liquid nitrogen was in the manufacturing of rubber and plastics, as liquid nitrogen in rubber and plastics production is used as a refrigerant. This function is expected to rise the demand for liquid nitrogen during the forecast period. Factors such as growing industrialisation and the rising medical sector are expected to be the significant growth carriers of the liquid nitrogen market over the next five years.

Coolant is projected to be the most practised function in the liquid nitrogen market as it is utilised in multiple industries such as steel manufacturing and construction, pharma, chemicals, and the healthcare industry. The cylinder and packaged distribution mode is expected to account for the largest market share in the liquid nitrogen segment. Verticals such as tonnage merchant liquid distribution and tonnage distribution will be fundamental growing distribution modes during the forecast period.

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The liquid nitrogen market has been studied for five major regions including North America, Asia-Pacific, Europe, South America, and the Middle East and Africa. North America region had the highest market share in 2018-2019. The growth in the region can be credited to the demand for the product in its well-established pharmaceutical industry for conserving biological samples and reactor cooling applications. Moreover, rising reconstruction activities create demand in manufacturing and construction equipment, leading to an increased need for liquid nitrogen in welding and cutting processes.

Mergers and acquisitions, product launch, trends and analysis on strategic collaborations are some of the key growth strategies adopted by prominent companies to strengthen their market position and augment their revenue share.

Top 5 Companies in the Global Liquid Nitrogen Market

Linde PLC

Linde plc is a multinational chemical company. It is the largest industrial gas company by market share and revenue. It serves customers in the healthcare, petroleum refining, manufacturing, food, beverage carbonation, fiber-optics, steel making, aerospace, chemicals, electronics, and water treatment industries. The company's primary business is the manufacturing and distribution of atmospheric gases, including oxygen, nitrogen, argon, rare gases, and process gases, including carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

Air Products Inc

Air Products and Chemicals, Inc. is an American international corporation whose principal business is selling gases and chemicals for industrial uses. Air Products' headquarters is in Allentown, Pennsylvania, in the Lehigh Valley region of Pennsylvania, in the United States. Air Products is the Lehigh Valley's third largest employer, after Lehigh Valley Hospital and St. Luke's University Health Network. Leonard P. Pool founded the company in 1940. Air Products’ current CEO and Chairman is Seifi Ghasemi.

Praxair

Praxair, Inc. was an American worldwide industrial gases company. Founded in 1907, Praxair was the largest industrial gases company in North and South America, and the third largest worldwide by revenue. In 2018 it merged with Linde AG to form Linde plc. The Praxair name was discontinued on September 1, 2020.

Taiyo Nippon Sanso India

Taiyo Nippon Sanso India (TNSI) is the 100% Indian subsidiary of Taiyo Nippon Sanso Corporation, Japan. It is a global major in the field of industrial, medical, electronic, and speciality gases. TNSI has its headquarters in Pune, Maharashtra, India, and facilities across the country. TNSI is present in industrial bulk and package, helium, speciality gases and chemicals. TNSI is a leader in the helium business in India with two transfilling facilities. They have a large Air Separation Plant (ASU) for cryogenic bulk liquids and a network of filling stations. They also have a speciality gas facility for manufacture of high purity gases and mixtures, a facility for debulking anhydrous HCL and a facility for manufacture of liquid CO2.

Southern Industrial Gas Sdn Bhd

Southern Industrial Gas Sdn Bhd was poised for success in the industry. The current mainstream of SIG is to manufacture liquid oxygen and liquid nitrogen. Re-filling and distribution of industrial gases such as oxygen, nitrogen, argon, carbon dioxide, acetylene, special gases, gas mixture, refrigerant products, gas-related services equipment and etc. SIG is fundamentally a 'one-stop' industrial gas solutions and service company. Our vast experience has been primarily customer-driven by proven capability, technical expertise, delivery efficiency and depth of industrial knowledge. With all these combined qualities, the priority of our business is to provide and facilitates top notch solutions to customers' businesses. SIG of today, is strategically positioned as one of the key players in the industry and an exclusive member of the FMM Malaysian Industrial Gas Manufacturers Association (FMM MIGMA).

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