NEW YORK, Feb. 16, 2016 /PRNewswire/ -- "Increasing demand for electronics to drive the liquid nitrogen market"
The liquid nitrogen market size is projected to grow from USD 12.48 billion in 2015 to USD 16.14 billion by 2020, at a CAGR of 5.28%. The liquid nitrogen market is driven by factors such as rise in demand for electronic products in developing countries and the growing demand from healthcare sector market.
"Pressure swing adsorption to gain maximum traction during the forecast period"
The pressure swing adsorption segment is projected to be the fastest-growing production technology in the next five years. It can be a cost-effective technique of onsite generation of nitrogen for a broad range of purity and flow requirements. Cryogenic distillation is estimated to have the largest market share during the forecast period. It is the most widely used technique for producing high purity oxygen, nitrogen, and argon on an industrial scale, as it is one of the cost-effective and economic technology solutions for plants with high production rate plants.
Asia-Pacific is estimated to be the fastest growing region.
North America is estimated to have the largest market share during the forecast period in the liquid nitrogen market. Asia-Pacific is projected to grow at the highest CAGR from 2015 to 2020. The Asia-Pacific region is the most attractive market for liquid nitrogen owing to the rapid socio-economic development in the region. The growth of this region is supplemented by the expansion of the metal manufacturing industry in developing economies such as India and China. The demand for liquid nitrogen is primarily driven by developing countries for applications in various industries such as health care, energy, and electronics.
Breakdown of Primaries
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of the liquid nitrogen market. Estimates reached after analyzing secondary sources were validated through these interviews. Primary sources include professionals such as liquid nitrogen manufacturers, distributors, and academic professionals. The distribution of primary interviews is as follows:
By Company Type: Tier 1: 43%; Tier 2: 33%; Tier 3: 24%
By Designation: C-level: 40%; Director level: 35%; Others*: 25%
By Region: North America: 40%; Europe: 20%; Asia-Pacific: 25%; RoW: 15%
Note: *Others include sales managers, marketing managers, and product managers.
The tier of the companies is defined on the basis of their total revenue, as of 2013.
Tier 1: Revenue > USD 10 billion; Tier 2: USD 1 billion to USD 10 billion; Tier 3: Revenue < USD 1 billion
The various key liquid nitrogen providers profiled in the report are as follows:
1. The Linde Group (Germany)
2. Praxair Inc. (U.S.)
3. Nexair LLC. (U.S.)
4. Air Products and Chemicals, Inc. (U.S.)
5. Taiyo Nippon Sanso Corporation (Japan)
6. Messer Group (Germany)
7. Air Liquide S.A. (France)
8. Gulf Cryo (United Arab Emirates)
9. Emirates Industrial Gases Co. LLC. (United Arab Emirates)
10. Southern Industrial Gas Berhad (Malaysia)
Reasons to buy the report.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the liquid nitrogen market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, agreements, partnerships and joint ventures, and mergers & acquisitions.
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