Global Liquid Nitrogen Market to hit US$ 17 bn by 2025 Liquid Nitrogen Market

Liquid Nitrogen Market to grow at 5.8% CAGR from
2018 to 2025: Global Market Insights Inc.
Liquid Nitrogen Market to exceed USD 17 billion by 2025; driven by increasing
automobile manufacturing in Asia Pacific. Global liquid nitrogen market will be driven
by rapidly growing pharmaceutical industry. Liquid nitrogen finds use pharmaceutical
industry in many different processes and applications starting from raw material
preparation to packaging. Pharmaceutical is a one of the largest and significantly
growing industry across the globe. Food & beverages industry was the major product
end-user in 2017 and forecast to grow with a prominent CAGR in next few years.
Growing population, technological advancements, streamlined manufacturing
processes and improved cold chain facilities shall fuel the growth of pharmaceutical
industry in coming years.
However, high cost related to the liquid nitrogen transportation is likely the hamper
the product demand during the forecast period. In addition, increasing fuel prices
may hamper the liquid nitrogen market demand in near future. Upward trend in the
fuel prices increases the bulk and packaged liquid nitrogen transportation cost and
may propel demand for on-site production, particularly in gigantic chemical and
pharmaceutical manufacturing facilities.
Liquid Nitrogen Market
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