Cryogenic Liquids market increases from US$28.74 billion in 2023 to US$34.80 billion by 2030, with a 2.8% CAGR, due to growing demand in the downstream market.
The global cryogenic liquids market deals in the production, storage, and transportation of liquefied gases maintained at extremely low temperatures, typically below -150°C. These gases, also known as cryogens, possess unique physical properties that make them invaluable across a diverse range of industries. Liquid nitrogen, for example, finds applications in food preservation, metalworking, and scientific research due to its ability to freeze and preserve materials at a cellular level. Liquefied natural gas (LNG), on the other hand, plays a vital role in the energy sector as a clean-burning and efficient fuel source. The transport of LNG requires cryogenic temperatures to maintain it in a liquid state, significantly reducing its volume and enabling efficient storage and transportation over long distances. Helium, another key cryogenic liquid, is essential in various scientific applications such as Magnetic Resonance Imaging (MRI) scans, which rely on its unique properties to generate detailed images of the human body.
According to our publisher’s latest study, the global Cryogenic Liquids market size was valued at US$ 28740 million in 2023. With growing demand in downstream market, the Cryogenic Liquids is forecast to a readjusted size of US$ 34800 million by 2030 with a CAGR of 2.8% during review period.
The research report highlights the growth potential of the global Cryogenic Liquids market. Cryogenic Liquids are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Cryogenic Liquids. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Cryogenic Liquids market.
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A cryogenic liquid is defined as a liquid with a normal boiling point below –130°F (–90°C). The most commonly used industrial gases that are transported, handled, and stored in the liquid state at cryogenic temperatures are argon, helium, hydrogen, nitrogen, and oxygen.
The Cryogenic Liquids industry can be broken down into several segments, Liquid Nitrogen, Liquid Oxygen, etc.
Across the world, the major players cover Linde Group, Air Liquide, etc.
Global cryogenic liquids key players include Linde, Air Liquide, Air Products, Taiyo Nippon Sanso, Messer Group, etc. Global top 2 manufacturers hold a share over 48%.
Asia-PacificNorth America is the largest market, with a share about 30%, followed by Asia-Pacific and Europe, both have a share about 50% percent. In terms of product, liquid nitrogen is the largest segment, with a share about 50%. And in terms of application, the largest application is metals, followed by manufacturing.
Key Features:
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Manmayi Raval
Research Consultant
The report on Cryogenic Liquids market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Cryogenic Liquids market. It may include historical data, market segmentation by Type (e.g., Liquid Nitrogen, Liquid Oxygen), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Cryogenic Liquids market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Market Dynamics in the Global Cryogenic Liquids Market
The global cryogenic liquids market chills with opportunity, driven by several key forces:
Market Drivers:
• Growing Industrial Applications: The increasing use of cryogenic liquids in various industries like oil & gas, metallurgy, and electronics manufacturing is a major driver.
• Advancements in Healthcare: The expanding use of cryogenic liquids in medical procedures like cryosurgery and long-term cell preservation fuels market growth.
Market Trends:
• Shift Towards Liquefied Natural Gas (LNG): The growing adoption of LNG as a cleaner and more efficient fuel source is driving demand for cryogenic storage and transportation solutions.
• Focus on Sustainability: Research into eco-friendly production methods and the development of more energy-efficient cryogenic equipment are gaining traction.
Market Challenges:
• Fluctuating Energy Prices: The volatility of natural gas prices, a key feedstock for some cryogenic liquids, can create market instability.
• Strict Regulations: Stringent safety regulations regarding storage, transportation, and handling of cryogenic liquids pose logistical challenges.
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Competitive Landscape: The research report provides analysis of the competitive landscape within the Cryogenic Liquids market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Cryogenic Liquids industry. This include advancements in Cryogenic Liquids technology, Cryogenic Liquids new entrants, Cryogenic Liquids new investment, and other innovations that are shaping the future of Cryogenic Liquids.
• Advanced Insulation Materials: New materials with superior insulating properties are being developed to minimize heat transfer during storage and transportation, reducing boil-off and energy loss.
• Smarter Cryogenic Tanks: Sensor-equipped tanks can monitor pressure, temperature, and liquid levels in real-time, enabling remote monitoring and predictive maintenance.
• Improved Refrigeration Systems: More efficient refrigeration technologies are being explored to reduce energy consumption during the liquefaction process of cryogenic gases.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Cryogenic Liquids market. It includes factors influencing customer ' purchasing decisions, preferences for Cryogenic Liquids product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Cryogenic Liquids market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Cryogenic Liquids market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Cryogenic Liquids market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Cryogenic Liquids industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
• Growth Industries: The increasing demand for Liquefied Natural Gas (LNG) as a cleaner fuel source and the continued expansion of industrial gas applications in various sectors like metallurgy and energy will drive market growth.
• Technological Advancements: Research into more efficient liquefaction and storage technologies can reduce costs and minimize environmental impact, making cryogenic liquids more accessible.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Cryogenic Liquids market.
• Expanding Scientific Research: The growing importance of cryogenic temperatures in fields like superconductivity research, advanced materials development, and space exploration is driving demand for cryogenic liquids like liquid nitrogen and helium.
• Healthcare Boom: Cryogenic storage plays a vital role in preserving medical samples, reproductive tissues, and vaccines, propelling demand for cryogenic liquids in the healthcare sector
Market Segmentation:
Cryogenic Liquids market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by type
Liquid Nitrogen
Liquid Oxygen
Liquid Hydrogen
Liquid Argon
Liquid Helium
Segmentation by application
Manufacturing
Chemical & Energy
Metals
Rubber & Plastic
Food & Beverages
Medical & Healthcare
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Linde
Air Liquide
Air Products
Taiyo Nippon Sanso
Messer Group
Air Water
Nippon Shokubai
Sasol
SABIC
Rasgas
ExxonMobil
Yingde Gases
Hangzhou Hangyang
Sichuan Qiaoyuan Gas
Baosteel Gases
Tangshan Tangsteel GGSES
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Cryogenic Liquids Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Cryogenic Liquids by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Cryogenic Liquids by Country/Region, 2019, 2023 & 2030
2.2 Cryogenic Liquids Segment by Type
2.2.1 Liquid Nitrogen
2.2.2 Liquid Oxygen
2.2.3 Liquid Hydrogen
2.2.4 Liquid Argon
2.2.5 Liquid Helium
2.3 Cryogenic Liquids Sales by Type
2.3.1 Global Cryogenic Liquids Sales Market Share by Type (2019-2024)
2.3.2 Global Cryogenic Liquids Revenue and Market Share by Type (2019-2024)
2.3.3 Global Cryogenic Liquids Sale Price by Type (2019-2024)
2.4 Cryogenic Liquids Segment by Application
2.4.1 Manufacturing
2.4.2 Chemical & Energy
2.4.3 Metals
2.4.4 Rubber & Plastic
2.4.5 Food & Beverages
2.4.6 Medical & Healthcare
2.4.7 Others
2.5 Cryogenic Liquids Sales by Application
2.5.1 Global Cryogenic Liquids Sale Market Share by Application (2019-2024)
2.5.2 Global Cryogenic Liquids Revenue and Market Share by Application (2019-2024)
2.5.3 Global Cryogenic Liquids Sale Price by Application (2019-2024)
3 Global Cryogenic Liquids by Company
3.1 Global Cryogenic Liquids Breakdown Data by Company
3.1.1 Global Cryogenic Liquids Annual Sales by Company (2019-2024)
3.1.2 Global Cryogenic Liquids Sales Market Share by Company (2019-2024)
3.2 Global Cryogenic Liquids Annual Revenue by Company (2019-2024)
3.2.1 Global Cryogenic Liquids Revenue by Company (2019-2024)
3.2.2 Global Cryogenic Liquids Revenue Market Share by Company (2019-2024)
3.3 Global Cryogenic Liquids Sale Price by Company
3.4 Key Manufacturers Cryogenic Liquids Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Cryogenic Liquids Product Location Distribution
3.4.2 Players Cryogenic Liquids Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2019-2024)
3.6 New Products and Potential Entrants
3.7 Mergers & Acquisitions, Expansion
4 World Historic Review for Cryogenic Liquids by Geographic Region
4.1 World Historic Cryogenic Liquids Market Size by Geographic Region (2019-2024)
4.1.1 Global Cryogenic Liquids Annual Sales by Geographic Region (2019-2024)
4.1.2 Global Cryogenic Liquids Annual Revenue by Geographic Region (2019-2024)
4.2 World Historic Cryogenic Liquids Market Size by Country/Region (2019-2024)
4.2.1 Global Cryogenic Liquids Annual Sales by Country/Region (2019-2024)
4.2.2 Global Cryogenic Liquids Annual Revenue by Country/Region (2019-2024)
4.3 Americas Cryogenic Liquids Sales Growth
4.4 APAC Cryogenic Liquids Sales Growth
4.5 Europe Cryogenic Liquids Sales Growth
4.6 Middle East & Africa Cryogenic Liquids Sales Growth
5 Americas
5.1 Americas Cryogenic Liquids Sales by Country
5.1.1 Americas Cryogenic Liquids Sales by Country (2019-2024)
5.1.2 Americas Cryogenic Liquids Revenue by Country (2019-2024)
5.2 Americas Cryogenic Liquids Sales by Type
5.3 Americas Cryogenic Liquids Sales by Application
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Cryogenic Liquids Sales by Region
6.1.1 APAC Cryogenic Liquids Sales by Region (2019-2024)
6.1.2 APAC Cryogenic Liquids Revenue by Region (2019-2024)
6.2 APAC Cryogenic Liquids Sales by Type
6.3 APAC Cryogenic Liquids Sales by Application
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe Cryogenic Liquids by Country
7.1.1 Europe Cryogenic Liquids Sales by Country (2019-2024)
7.1.2 Europe Cryogenic Liquids Revenue by Country (2019-2024)
7.2 Europe Cryogenic Liquids Sales by Type
7.3 Europe Cryogenic Liquids Sales by Application
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Cryogenic Liquids by Country
8.1.1 Middle East & Africa Cryogenic Liquids Sales by Country (2019-2024)
8.1.2 Middle East & Africa Cryogenic Liquids Revenue by Country (2019-2024)
8.2 Middle East & Africa Cryogenic Liquids Sales by Type
8.3 Middle East & Africa Cryogenic Liquids Sales by Application
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of Cryogenic Liquids
10.3 Manufacturing Process Analysis of Cryogenic Liquids
10.4 Industry Chain Structure of Cryogenic Liquids
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 Cryogenic Liquids Distributors
11.3 Cryogenic Liquids Customer
12 World Forecast Review for Cryogenic Liquids by Geographic Region
12.1 Global Cryogenic Liquids Market Size Forecast by Region
12.1.1 Global Cryogenic Liquids Forecast by Region (2025-2030)
12.1.2 Global Cryogenic Liquids Annual Revenue Forecast by Region (2025-2030)
12.2 Americas Forecast by Country
12.3 APAC Forecast by Region
12.4 Europe Forecast by Country
12.5 Middle East & Africa Forecast by Country
12.6 Global Cryogenic Liquids Forecast by Type
12.7 Global Cryogenic Liquids Forecast by Application
13 Key Players Analysis
13.1 Linde
13.1.1 Linde Company Information
13.1.2 Linde Cryogenic Liquids Product Portfolios and Specifications
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