Liquid Nitrogen Purge Systems Market Outlook 2022-2032
The global liquid nitrogen purge systems market size is expected to reach a market size of US$ 506.40 Mn in 2022. The market is projected to grow at a CAGR of 5.5% to reach a market valuation of US$ 865 Mn by 2032. The growth of the market can be attributed to the extensive applications of liquid nitrogen purge systems.
The liquid nitrogen purge systems market is poised to witness healthy growth over the forecast period owing to the complete equipment assembly offered by liquid nitrogen purge systems providers. The manufacturers also offer complete monitoring, installation, and maintenance activities to the end users, which involve commissioning, lack testing, and simulations, thus boosting demand for liquid nitrogen purge systems.
Besides, the companies also offer assistance for the purging process by deploying contractual services, which bolster the demand for liquid nitrogen purge systems. The market for liquid nitrogen purge systems is gaining momentum due to its rising utilization in safety-critical process chambers like reactors to remove air and moisture during operations.
In other fields, such as the additive manufacturing (AM) industry, liquid nitrogen purge systems are vital in ensuring the precise atmospheric composition needed in 3D metal printer chambers and powder storage cabinets. The thriving additive manufacturing industry is propelling the sales of liquid nitrogen purge systems.
Further, the demand for these solutions is rising to control the adverse effects of oxidation during additive manufacturing and welding. Additionally, purging also discards the need for pumps. Therefore the risk of ignition, sparks, and cross-contamination is also eliminated. The capability to evaluate and monitor the atmosphere in printer chambers and AM storage cabinets, provided by liquid nitrogen purge systems, has a significant impact on the final quality, surface finish, and structural stability of 3D printed parts, thus boosting the demand for liquid nitrogen purge systems.
The application of liquid nitrogen purge solutions in the food industry to oust atmospheric gases while food packaging and mixing/ grinding vessels are bolstering the market growth. The deployment of liquid nitrogen purge systems in food packaging is increasing. The liquid gas turns gaseous upon entering an empty container and expands while doing so, thus providing rigidity to containers like plastic bottles.
This results in a stronger bottle despite having a thin wall, in addition to the extension of the shelf life of the product by displacing oxygen. The rising demand for enhancing shelf life and providing product rigidity in the food and beverage industry is propelling the market for liquid nitrogen purge systems.
Market Value (2022)
US$ 506.40 Mn
Market Forecast Value (2032)
US$ 865 Mn
Market CAGR (2022-2032)
5.5%
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Liquid Nitrogen Purge Systems Market Dynamics
The Liquid Nitrogen Purge Systems market consists of manufacturers either offering the complete equipment assembly or specializing in one or multiple equipment.
These enterprises offer complete installation, monitoring and maintenance activities to the customer such as Leak Testing, Live Simulations & Commissioning. Apart from the equipment manufacturers, industrial gases producing companies too offer assistance in purging process by employing contractual services.
The Liquid Nitrogen Purge Systems market is largely fragmented with local distributors supplying the equipment as a whole or by ingredient with a smaller organized OEM market as well. Parent Oil & Gas Companies, Petrochemical Refineries, Metal Welding & Fabrications are the major consumer segments of the liquid nitrogen purge systems.
Of late, the product is also finding acceptance in other industry sectors such as aviation, healthcare, electro physics and other industrial processes etc.
Liquid Nitrogen Purge Systems Market: Regional Outlook
Geographically, the Liquid Nitrogen Purge Systems industry is present across all geographic regions which include North America, Western & Eastern Europe, Asia-Pacific region, Japan, and Middle East & Africa.
The conventional Liquid Nitrogen Purge Systems markets involve OEMs from North American & European regions, whereas the Asian market is witnessing a significant growth owing to growth in related end use industries such as oil & gas, heavy engineering, automotive etc.
It can be inferred that the market growth of the Liquid Nitrogen Purge Systems would be proportional in nature with the respective growth rates of end use industries as the Liquid Nitrogen Purge Systems is a crucial aspect of their manufacturing process. Value additions by suppliers backed by maintenance & service would be a determining factor of the market.
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Liquid Nitrogen Purge Systems Market Players
The Liquid Nitrogen Purge Systems key players including manufacturers & source material suppliers identified across the value chain are Liquid Packaging Solutions Inc., Halliburton, IKM Testing UK Ltd., Airgas Inc., Epoxy Oil Serve Nigeria Limited, Vadilal Chemicals Ltd., GTS Maintenance Limited, Praxair Technology, Inc., Air Products and Chemicals, Inc. & Linde Group etc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.
The report covers exhaustive analysis on
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Value Chain
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Regional analysis includes
North America
Latin America
Asia Pacific
Japan
Western Europe
Eastern Europe
Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
Liquid Nitrogen Purge Systems Market Segmentation
The Liquid Nitrogen Purge Systems can be classified as following
By Technique:
Displacement- For simple operating systems
Dilution- For complex operating systems
By Monitoring Type:
Direct
Remote Controlled
End Use Industry:
Oil & Gas Refineries
Welding & Fabrication of Metals
Pharmaceuticals & Healthcare
Chemicals
Automotive
Aerospace
HVAC Systems
Electro Optics
Frequently Asked Questions
What is the Growth Outlook for Liquid Nitrogen Purge Systems Market?
The market is likely to register a CAGR of 5.5% through 2032.
What is the Current Valuation of the Market?
The market is currently valued at US$ 865 Mn in 2022.
How is the Future of the Market?
The market is likely to grow to a valuation of US$ 506.40 Mn by 2032.
Which is the Leading Region in the Market?
Asia Pacific is likely to be a leading market during the forecast period.
