The market study covers the present scenario and growth prospects of the global liquid nitrogen market for 2017-2021. The report also lists the Americas, APAC, EMEA as the three major segments. The Americas dominated the market with 60% of the overall share in 2016.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global liquid nitrogen market:
- Increasing use of cryosurgery and cryotherapy
- Increased application in cryogenics
- Safety concerns in food and beverages industry
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Increasing use of cryosurgery and cryotherapy
Cryosurgery and cryotherapy are treatment techniques of using low temperature on the affected parts of the skin such as warts, seborrheic keratosis, and actinic keratosis. The technique is also being used for treating certain types of cancers. The advantage of this method is that the process is fast, requires less time, and does not leave any scar on the surface. The market for these techniques is expected to grow over USD 4 billion during the forecast period. Europe and North America are expected to have the maximum share as their healthcare sectors are well developed and have modern equipment to support such surgeries.
According to Kshama Upadhyay, a lead analyst at Technavio for industrial gases research, “Cryosurgery uses liquid nitrogen for treatment through both internal and external application. In internal applications, liquid nitrogen is passed through tubes, and for external cases, it is applied to the skin. It immediately freezes the affected cells and kills them before they separate from the body and fall off.”
Increased application in cryogenics
Cryogenic activities are increasing around the globe, with APAC driving the growth. Cryogenics is the science of using temperature as low as -180°C, in various applications such as chemicals, healthcare, pharmaceuticals, construction, automotive, and electronics. Industrial applications use cryogenic liquid gases such as nitrogen, carbon dioxide, argon, helium, and hydrogen. Nitrogen is the most prominent among these gases.
“The growth of cryogenic applications in APAC can be attributed to the development of the energy sector and the growth of the end-user industries such as food and beverages, healthcare, construction, and electronics. China and India are supporting the growth with initiatives such as Make in India,” says Kshama.
Safety concerns in food and beverages industry
Safety concerns in the food and beverage industry will boost the demand for liquid nitrogen. The food and beverage industry is growing due to the increasing population and competitive commodity branding of various products. The demand for bakery and confectionery food items is expected to grow at a rapid rate during the forecast period.
Liquid nitrogen finds application in the food processing industry for food items such as meat, fruits, vegetables, baked food, dairy products, and prepared foods. The benefits of cryogenic freezing over traditional mechanical freezing are that the former is eco-friendly, fast, less time-consuming, and does not alter the quality, texture, and color of the food product.
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