Liquid Nitrogen Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Global Liquid Nitrogen Companies & Growth and it is Segmented by Storage Type (cylinder and packaged gas), Function (coolant and refrigerant), End-user Industry (chemical and pharmaceutical, healthcare, transportation, and other end-user industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The market size and forecasts for Liquid Nitrogen are provided in terms of volume (million tons) for all the above segments.

Liquid Nitrogen Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Liquid Nitrogen Market Size

Liquid Nitrogen Market Summary
Study Period 2019 - 2030
Market Volume (2025) 131.91 Million tons
Market Volume (2030) 166.36 Million tons
CAGR 4.75 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Liquid Nitrogen Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Liquid Nitrogen Market with other markets in Chemicals & Materials Industry

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Liquid Nitrogen Market Analysis

The Liquid Nitrogen Market size is estimated at 131.91 million tons in 2025, and is expected to reach 166.36 million tons by 2030, at a CAGR of 4.75% during the forecast period (2025-2030).

COVID-19 hampered the market growth. The transportation industry suffered from the pandemic due to restrictions worldwide. However, due to the pandemic, the healthcare industry witnessed huge growth because of increased health concerns. It increased the demand for the liquid nitrogen market, as the demand for medical devices increased tremendously. Currently, the market recovered from the pandemic and is growing at a significant rate.

  • Over the medium term, the increasing demand from the chemical and pharmaceutical industry and the growing application in the healthcare industry are driving market growth.
  • However, the regulatory restrictions in maintaining liquid nitrogen plants are expected to hinder the market's growth.
  • Nevertheless, developing new manufacturing techniques will likely create opportunities for the market in the coming years.
  • The Asia-Pacific region dominated the global market with the largest consumption from countries such as China, India, and Japan.

Liquid Nitrogen Industry Overview

The liquid nitrogen market is fragmented in nature. Some of the major players in the market include Air Liquide, Air Products and Chemicals, Inc., Gulf Cryo, Linde plc, and TAIYO NIPPON SANSO CORPORATION, among others.

Liquid Nitrogen Market Leaders

  1. TAIYO NIPPON SANSO CORPORATION

  2. Air Liquide

  3. Gulf Cryo

  4. Linde plc

  5. Air Products and Chemicals, Inc. 

  6. *Disclaimer: Major Players sorted in no particular order
Liquid Nitrogen Market Concentration
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Liquid Nitrogen Market News

  • April 2022: Linde plc signed another long-term arrangement to supply bulk industrial gases with a major space launch firm in Florida. Linde will deliver liquid nitrogen to the client from its air separation facility in Mims, Florida, expanding to increase production capacity by up to 50%. The extra capacity, expected to begin operations in 2023, will fulfill the new agreement's demands and increase demand from clients in the aerospace, healthcare, manufacturing, food processing, and water treatment end sectors.
  • February 2022: INOX Air Products opened its sixth air separation plant in Hosur, India, to satisfy expanding healthcare and industrial demand. The INR 3000 million (USD 36.48 billion) plant at SIPCOT Phase II was completed in just 20 months. It will produce high-purity liquid nitrogen with a capacity of up to 150 MT per day, twice the current amount.

Liquid Nitrogen Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Increasing Demand from the Chemical and Pharmaceutical Industry
    • 4.1.2 Growing Application in the Healthcare Industry
    • 4.1.3 Other Drivers
  • 4.2 Restraints
    • 4.2.1 Regulatory Restrictions in Maintaining Liquid Nitrogen Plant
    • 4.2.2 Other Restraints
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Buyers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION (Market Size in Volume)

  • 5.1 Storage Type
    • 5.1.1 Cylinder
    • 5.1.2 Packaged Gas
  • 5.2 Function
    • 5.2.1 Coolant
    • 5.2.2 Refrigerant
  • 5.3 End-user Industry
    • 5.3.1 Chemical and Pharmaceutical
    • 5.3.2 Healthcare
    • 5.3.3 Transportation
    • 5.3.4 Other End-user Industries
  • 5.4 Geography
    • 5.4.1 Asia-Pacific
    • 5.4.1.1 China
    • 5.4.1.2 India
    • 5.4.1.3 Japan
    • 5.4.1.4 South Korea
    • 5.4.1.5 Rest of Asia-Pacific
    • 5.4.2 North America
    • 5.4.2.1 United States
    • 5.4.2.2 Canada
    • 5.4.2.3 Mexico
    • 5.4.3 Europe
    • 5.4.3.1 Germany
    • 5.4.3.2 United Kingdom
    • 5.4.3.3 Italy
    • 5.4.3.4 France
    • 5.4.3.5 Rest of Europe
    • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Rest of South America
    • 5.4.5 Middle-East and Africa
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 South Africa
    • 5.4.5.3 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share Analysis (%) **/Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 Air Liquide
    • 6.4.2 Air Products and Chemicals, Inc.
    • 6.4.3 Cryomech Inc.
    • 6.4.4 Gulf Cryo
    • 6.4.5 Linde plc
    • 6.4.6 MVS Engineering Pvt. Ltd
    • 6.4.7 Southern Industrial Gas Sdn Bhd
    • 6.4.8 Praxair Technology, Inc.
    • 6.4.9 Messer Group
    • 6.4.10 TAIYO NIPPON SANSO CORPORATION
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Development of New Manufacturing Techniques
  • 7.2 Other Opportunities
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Liquid Nitrogen Industry Segmentation

Nitrogen in a liquid state at low temperature is known as liquid nitrogen. It is a form of element nitrogen and can be used in cryogenic and cooling applications. It is included in all main pharmacological medication classes, including antibiotics. The liquid nitrogen market is segmented based on storage type, function, end-user industry, and geography. The liquid nitrogen market is segmented into cylinders and packaged gas by storage type. By function, the market is segmented into coolant and refrigerant. The end-user industry segments the market into chemical, pharmaceutical, healthcare, transportation, and other industries. The report also covers the market size and forecasts for the liquid nitrogen market in 15 countries across major regions. Each segment's market sizing and forecasts are based on volume (million tons).

Storage Type Cylinder
Packaged Gas
Function Coolant
Refrigerant
End-user Industry Chemical and Pharmaceutical
Healthcare
Transportation
Other End-user Industries
Geography Asia-Pacific China
India
Japan
South Korea
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
Italy
France
Rest of Europe
South America Brazil
Argentina
Rest of South America
Middle-East and Africa Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Liquid Nitrogen Market Research FAQs

How big is the Liquid Nitrogen Market?

The Liquid Nitrogen Market size is expected to reach 131.91 million tons in 2025 and grow at a CAGR of 4.75% to reach 166.36 million tons by 2030.

What is the current Liquid Nitrogen Market size?

In 2025, the Liquid Nitrogen Market size is expected to reach 131.91 million tons.

Who are the key players in Liquid Nitrogen Market?

TAIYO NIPPON SANSO CORPORATION, Air Liquide, Gulf Cryo, Linde plc and Air Products and Chemicals, Inc. are the major companies operating in the Liquid Nitrogen Market.

Which is the fastest growing region in Liquid Nitrogen Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Liquid Nitrogen Market?

In 2025, the Asia Pacific accounts for the largest market share in Liquid Nitrogen Market.

What years does this Liquid Nitrogen Market cover, and what was the market size in 2024?

In 2024, the Liquid Nitrogen Market size was estimated at 125.64 million tons. The report covers the Liquid Nitrogen Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Liquid Nitrogen Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Liquid Nitrogen Industry Report

Statistics for the 2025 Liquid Nitrogen market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Liquid Nitrogen analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Liquid Nitrogen Market Report Snapshots