At 4.2% CAGR, South & Central America Liquid Nitrogen Market is Projected to be Worth US$ 874.89 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the South & Central America liquid nitrogen market was valued at US$ 627.82 million in 2023 and is expected to reach US$ 874.89 million by 2031, registering a CAGR of 4.2% 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 South & Central America liquid nitrogen market growth.

Traditionally, liquid nitrogen is obtained from cryogenic separation and pressure swing adsorption process in which the nitrogen gets separated from atmospheric air and then processed into a liquid format. However, the process emits greenhouse gas emissions, increasing the environmental concern among manufacturers. Thus, manufacturers are now developing environment-friendly production processes to limit the impact on the environment. For instance, these processes include the use of biomass that has been gasified with nitrogen. This technique produces liquid nitrogen by mixing hydrogen gas and carbon dioxide gas into a gaseous state. This trend of advanced development of liquid nitrogen offers high efficiency of industrial processes for producing liquid nitrogen; the process is also eco-friendly and user-friendly. It does not cause greenhouse gas emissions, making this process a popular option among manufacturers. ECHEMI GLOBAL CO is a leading chemical manufacturer and offers sustainable and lab-friendly liquid nitrogen. Thus, the development of sustainable and lab-friendly liquid nitrogen is expected to bolster market growth in the coming years.

On the contrary, stringent regulatory framework hamper the growth of South & Central America liquid nitrogen market.

Based on manufacturing method, the South & Central America liquid nitrogen market is bifurcated into cryogenic distillation and pressure swing adsorption. The cryogenic distillation segment held 67.0% market share in 2023, amassing US$ 420.82 million. It is projected to garner US$ 601.20 million by 2031 to register 4.6% CAGR during 2023-2031.

In terms of end-use industry, the South & Central America 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 24.9% share of South & Central America liquid nitrogen market in 2023, amassing US$ 156.60 million. It is anticipated to garner US$ 216.62 million by 2031 to expand at 4.1% CAGR during 2023-2031.

Based on country, the South & Central America liquid nitrogen market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 70.5% share of South & Central America liquid nitrogen market in 2023. It was assessed at US$ 442.87 million in 2023 and is likely to hit US$ 625.63 million by 2031, registering a CAGR of 4.4% during 2023-2031.

Key players operating in the South & Central America liquid nitrogen market are Linde Plc, L'Air Liquide SA, Air Products and Chemicals Inc, SOL SpA, Praxair Technology Inc, Ube Corporation, Air Water Inc, and Matheson Tri-Gas Inc, among others.

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