Global Liquid Nitrogen Market is estimated to be valued at USD 22.82 Bn in 2025 and is expected to reach USD 33.87 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.8% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 22.82 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
5.80%
2032 Value Projection:
USD 33.87 Bn
The global liquid nitrogen market has witnessed significant growth in recent years, driven by its increasing applications across various industries. Liquid nitrogen, a colorless, odorless, and tasteless cryogenic liquid, is produced through the liquefaction of atmospheric air. It finds extensive use in food processing, healthcare, manufacturing, and scientific research due to its unique properties, such as ultra-low temperature and ability to rapidly cool materials. The market's expansion is fueled by technological advancements, growing demand for cryogenic processing, and the need for efficient cooling solutions in diverse sectors. This article aims to provide a comprehensive overview of the global liquid nitrogen market, including its market dynamics, key features, and future prospects.
Market Dynamics:
The global liquid nitrogen market is influenced by several factors that shape its growth trajectory. One of the primary drivers is the increasing demand from the healthcare sector, where liquid nitrogen is used in cryotherapy, cryosurgery, and the preservation of biological samples. The growing prevalence of chronic diseases and the need for advanced treatment options are expected to boost the demand for liquid nitrogen in healthcare applications. Additionally, the food processing industry heavily relies on liquid nitrogen for freezing, chilling, and packaging purposes, contributing to the market's growth. However, the market also faces certain restraints, such as the high cost of production and storage, as well as stringent regulations regarding the handling and transportation of cryogenic liquids. Despite these challenges, the market presents significant opportunities for growth,
Key Features of the Study:
This report provides in-depth analysis of the global liquid nitrogen market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global liquid nitrogen market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Air Products and Chemicals, Inc., Linde plc, Praxair Technology, Inc., Matheson Tri-Gas, Inc., Air Liquide S.A., Messer Group GmbH, Cryogenmash, Universal Industrial Gases, Inc., Reliance Gas, Southern Industrial Gas Sdn Bhd, Gulf Cryo, Indura S.A., INOX Air Products, NOVA Chemicals, and Graham Partners
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global liquid nitrogen market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global liquid nitrogen market
Market Segmentation
Production Method Insights (Revenue, USD Bn, 2020 - 2032)
Cryogenic Distillation
Pressure Swing Adsorption (PSA)
Others
Storage Insights (Revenue, USD Bn, 2020 - 2032)
Cylinders & packaged gas
Merchant liquid/ Bulk
Tonnage
Others
Function Insights (Revenue, USD Bn, 2020 - 2032)
Coolant
Refrigerant
End-use Industry Insights (Revenue, USD Bn, 2020 - 2032)
Chemicals & pharmaceuticals
Healthcare
Food & beverages
Metal manufacturing & construction
Rubber & plastic
Others
Regional Insights (Revenue, USD Bn, 2020 - 2032)
North America
U.S.
Canada
Latin America
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
GCC Countries
Israel
Rest of Middle East
Africa
South Africa
North Africa
Central Africa
Key Players Insights
Air Products and Chemicals, Inc.
Linde plc
Praxair Technology, Inc.
Matheson Tri-Gas, Inc.
Air Liquide S.A.
Messer Group GmbH
Cryogenmash
Universal Industrial Gases, Inc.
Reliance Gas
Southern Industrial Gas Sdn Bhd
Gulf Cryo
Indura S.A.
INOX Air Products
NOVA Chemicals
Graham Partners
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Global Liquid Nitrogen Market, By Production Method
Global Liquid Nitrogen Market, By Storage
Global Liquid Nitrogen Market, By Function
Global Liquid Nitrogen Market, By End-use Industry
Global Liquid Nitrogen Market, By Region
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Industry Trends
4. Global Liquid Nitrogen Market, By Production Method, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Cryogenic Distillation
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
Pressure Swing Adsorption (PSA)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
5. Global Liquid Nitrogen Market, By Storage, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Cylinders & packaged gas
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
Merchant liquid/ Bulk
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
Tonnage
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
6. Global Liquid Nitrogen Market, By Function, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Coolant
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
Refrigerant
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
7. Global Liquid Nitrogen Market, By End-use Industry, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Chemicals & pharmaceuticals
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
Healthcare
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
Food & beverages
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
Metal manufacturing & construction
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
Rubber & plastic
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD)
8. Global Liquid Nitrogen Market, By Region, 2020 - 2032, Value (USD)
Introduction
Market Share (%) Analysis, 2025, 2028 & 2032, Value (USD)
Market Y-o-Y Growth Analysis (%), 2021 - 2032, Value (USD)
Regional Trends
North America
Introduction
Market Size and Forecast, By Production Method, 2020 - 2032, Value (USD)
Market Size and Forecast, By Storage, 2020 - 2032, Value (USD)
Market Size and Forecast, By Function, 2020 - 2032, Value (USD)
Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD)
U.S.
Canada
Latin America
Introduction
Market Size and Forecast, By Production Method, 2020 - 2032, Value (USD)
Market Size and Forecast, By Storage, 2020 - 2032, Value (USD)
Market Size and Forecast, By Function, 2020 - 2032, Value (USD)
Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD)
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Introduction
Market Size and Forecast, By Production Method, 2020 - 2032, Value (USD)
Market Size and Forecast, By Storage, 2020 - 2032, Value (USD)
Market Size and Forecast, By Function, 2020 - 2032, Value (USD)
Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
Introduction
Market Size and Forecast, By Production Method, 2020 - 2032, Value (USD)
Market Size and Forecast, By Storage, 2020 - 2032, Value (USD)
Market Size and Forecast, By Function, 2020 - 2032, Value (USD)
Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
Introduction
Market Size and Forecast, By Production Method, 2020 - 2032, Value (USD)
Market Size and Forecast, By Storage, 2020 - 2032, Value (USD)
Market Size and Forecast, By Function, 2020 - 2032, Value (USD)
Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD)
GCC Countries
Israel
Rest of Middle East
Africa
Introduction
Market Size and Forecast, By Production Method, 2020 - 2032, Value (USD)
Market Size and Forecast, By Storage, 2020 - 2032, Value (USD)
Market Size and Forecast, By Function, 2020 - 2032, Value (USD)
Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD)
Market Size and Forecast, By Country/Region, 2020 - 2032, Value (USD)