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; it is estimated to register a CAGR of 4.2% from 2023 to 2031.
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. 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.
The South & Central America liquid nitrogen market growth is attributed to the expansion of the food & beverages industry. Brazil accounts for one of the largest market shares owing to the increased consumption and production of processed foods in the country. According to the Brazilian Food Processors' Association, the food processing sector in the country accounted for a revenue of US$ 231 billion in 2023. This growing food & beverages industry in the region boosts the demand for liquid nitrogen, which fuels the market growth.
Additionally, the region's steel production is witnessing rapid growth, with countries such as Brazil, Argentina, Chile, Columbia, and Costa Rica contributing to its growth. For instance, according to the World Steel Association AISBL, Brazil is among the world's top 10 steel producing countries. Brazil accounted for 8.3 metric tons of steel production in January-March 2024 with an increase of 6.2% from January-March 2023. This increasing steel production in the region gives rise to the demand for liquid nitrogen in South & Central America over the forecast period.
South & Central America Liquid Nitrogen Market Segmentation
The South & Central America liquid nitrogen market is categorized into manufacturing method, end-use industry, and country.
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 a larger South & Central America liquid nitrogen market share in 2023.
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 the largest South & Central America liquid nitrogen market share in 2023.
By country, the South & Central America liquid nitrogen market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America liquid nitrogen market share in 2023.
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 are some of the leading companies operating in the South & Central America liquid nitrogen market.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 627.82 Million |
| Market Size by 2031 | US$ 874.89 Million |
| CAGR (2023 - 2031) | 4.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Manufacturing Method
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South & Central America Liquid Nitrogen Market is valued at US$ 627.82 Million in 2023, it is projected to reach US$ 874.89 Million by 2031.
As per our report South & Central America Liquid Nitrogen Market, the market size is valued at US$ 627.82 Million in 2023, projecting it to reach US$ 874.89 Million by 2031. This translates to a CAGR of approximately 4.2% during the forecast period.
The South & Central America Liquid Nitrogen Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Liquid Nitrogen Market report:
The South & Central America Liquid Nitrogen Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Liquid Nitrogen Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Liquid Nitrogen Market value chain can benefit from the information contained in a comprehensive market report.
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