South & Central America Liquid Nitrogen Market Forecast to 2031 - Regional Analysis - by Manufacturing Method (Cryogenic Distillation and Pressure Swing Adsorption) and End-use Industry (Aerospace and Defense, Automotive, Chemical, Food and Beverage, Meta

The South & Central America liquid nitrogen market was valued at US$ 627.82 million in 2023 and is expected to reach US$ 874.89 million by 2031; it is estimated to register a CAGR of 4.2% from 2023 to 2031.

Growing Number of Applications in Chemical Industry Fuels South & Central America Liquid Nitrogen Market

In the chemical industry, liquid nitrogen is often used in manufacturing, processing, handling, storage, and transportation. It is employed as a cryopreservation agent and serves as the raw material for cloning processes. Liquid nitrogen is used as a pressurizing gas, propelling liquids through pipelines. Also, it is used to shield oxygen-sensitive materials from the air as well as to remove volatile organic chemicals from process streams. In chemical analysis, liquid nitrogen is commonly used during sample preparation. It is used for maintaining concentration and reduction of the volume of liquid samples. Liquid nitrogen helps produce fertilizers, dyes, nitric acid, and explosives. Further, specialty chemicals manufacturing companies are expanding their capacities to cater to surging demand from domestic and international markets. Thus, the growing liquid nitrogen usage in chemical applications across various economies is expected to create lucrative opportunities for the liquid nitrogen market growth during the forecast period.

South & Central America Liquid Nitrogen Market Overview

The South & Central America liquid nitrogen market growth is attributed to the expansion of the food & beverages industry. Brazil accounts for one of the largest market shares owing to the increased consumption and production of processed foods in the country. According to the Brazilian Food Processors' Association, the food processing sector in the country accounted for a revenue of US$ 231 billion in 2023. This growing food & beverages industry in the region boosts the demand for liquid nitrogen, which fuels the market growth.

Additionally, the region's steel production is witnessing rapid growth, with countries such as Brazil, Argentina, Chile, Columbia, and Costa Rica contributing to its growth. For instance, according to the World Steel Association AISBL, Brazil is among the world's top 10 steel producing countries. Brazil accounted for 8.3 metric tons of steel production in January-March 2024 with an increase of 6.2% from January-March 2023. This increasing steel production in the region gives rise to the demand for liquid nitrogen in South & Central America over the forecast period.

South & Central America Liquid Nitrogen Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Liquid Nitrogen Market Segmentation

The South & Central America liquid nitrogen market is categorized into manufacturing method, end-use industry, and country.

Based on manufacturing method, the South & Central America liquid nitrogen market is bifurcated into cryogenic distillation and pressure swing adsorption. The cryogenic distillation segment held a larger South & Central America liquid nitrogen market share in 2023.

In terms of end-use industry, the South & Central America liquid nitrogen market is segmented into aerospace and defense, automotive, chemical, food and beverage, metal fabrication, pharmaceutical, electronics and semiconductors, and others. The metal fabrication segment held the largest South & Central America liquid nitrogen market share in 2023.

By country, the South & Central America liquid nitrogen market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America liquid nitrogen market share in 2023.

Linde Plc, L’Air Liquide SA, Air Products and Chemicals Inc, SOL SpA, Praxair Technology Inc, Ube Corporation, Air Water Inc, and Matheson Tri-Gas Inc are some of the leading companies operating in the South & Central America liquid nitrogen market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America liquid nitrogen market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the South & Central America liquid nitrogen market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the South & Central America liquid nitrogen market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.