At 4.8% CAGR, Europe Liquid Nitrogen Market is Projected to be Worth US$ 4,962.85 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Europe liquid nitrogen market was valued at US$ 3,409.70 million in 2023 and is expected to reach US$ 4,962.85 million by 2031, registering a CAGR of 4.8% from 2023 to 2031. Development of sustainable and lab-friendly liquid nitrogen and growing number of applications in chemical industry are among the critical factors attributed to drive the Europe liquid nitrogen market growth.

In the chemical industry, liquid nitrogen is often used in manufacturing, processing, handling, storage, and transportation. It is employed as a cryopreservation agent and serves as the raw material for cloning processes. Liquid nitrogen is used as a pressurizing gas, propelling liquids through pipelines. Also, it is used to shield oxygen-sensitive materials from the air as well as to remove volatile organic chemicals from process streams. In chemical analysis, liquid nitrogen is commonly used during sample preparation. It is used for maintaining concentration and reduction of the volume of liquid samples. Liquid nitrogen helps produce fertilizers, dyes, nitric acid, and explosives. Further, specialty chemicals manufacturing companies are expanding their capacities to cater to surging demand from domestic and international markets. The chemical sector in Japan, India, European countries, and the US is significantly increasing. Thus, the growing liquid nitrogen usage in chemical applications across various economies is expected to create lucrative opportunities for the liquid nitrogen market growth during the forecast period.

On the contrary, stringent regulatory framework hampers the growth of Europe liquid nitrogen market.

Based on manufacturing method, the Europe liquid nitrogen market is bifurcated into cryogenic distillation and pressure swing adsorption. The cryogenic distillation segment held 68.1% market share in 2023, amassing US$ 2,321.33 million. It is projected to garner US$ 3,430.31 million by 2031 to register 5.0% CAGR during 2023-2031.

In terms of end-use industry, the Europe liquid nitrogen market is segmented into aerospace and defense, automotive, chemical, food and beverage, metal fabrication, pharmaceutical, electronics and semiconductors, and others. The metal fabrication segment held 23.8% share of Europe liquid nitrogen market in 2023, amassing US$ 812.99 million. It is anticipated to garner US$ 1,169.28 million by 2031 to expand at 4.6% CAGR during 2023-2031.

Based on country, the Europe liquid nitrogen market is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 35.7% share of Europe liquid nitrogen market in 2023. It was assessed at US$ 1,218.24 million in 2023 and is likely to hit US$ 1,707.79 million by 2031, registering a CAGR of 4.3% during 2023-2031.

Key players operating in the Europe liquid nitrogen market are Linde Plc, L'Air Liquide SA, Air Products and Chemicals Inc, SOL SpA, Praxair Technology Inc, Nippon Sanso Holdings Corp, Ube Corporation, Air Water Inc, Osaka Gas Co Ltd, Messer SE & Co KGaA, and Matheson Tri-Gas, Inc, among others.


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