The cryogenic liquid market is highly concentrated and Chinese companies have huge room for improvement.

Cryogenic liquids, also known as deep-frozen gases, refer to liquids with a boiling point below 120K (–150°C). Cryogenic liquids mainly include oxygen, nitrogen, argon, helium, hydrogen, etc. Due to their very low storage temperature, cryogenic liquids usually exist in liquid form. Cryogenic liquids have dangerous characteristics such as low boiling point, large expansion, strong oxidation, high vaporization rate, and easy explosion. Therefore, it is difficult to store and transport cryogenic liquids. At present, high-pressure cylinders, cryogenic tanks, pipelines, pipeline trailers, etc. are mainly used. To transport and store cryogenic liquids.

According to the “2022-2027 Cryogenic Liquid Industry Market In-depth Research and Investment Prospect Forecast Analysis Report released by the Industrial Research Center, cryogenic liquid industry Liquids are widely used in electronics, medical, national defense, aerospace, automotive and other fields. In recent years, thanks to the release of market demand, the global cryogenic liquid market has continued to expand, reaching more than US$27 billion in 2020. The cryogenic liquid market has a large space for development, but due to factors such as transportation, cost, and production, the cryogenic liquid market is growing slowly. It is expected that the global cryogenic liquid market will maintain a compound annual growth rate of 2.4% from 2022 to 2026.

Globally, the cryogenic liquid market in Europe and North America started early. With advantages in technology, first mover, and channels, European and American companies occupy the major share of the global cryogenic liquid market. The cryogenic liquid market is highly concentrated, with leading companies including American Air Products, Germany’s Linde AG, Messer Industrial Gases, Air Liquide, etc.

my country’s cryogenic liquid industry started late. However, with increased national support and mature technology, the cryogenic liquid market has developed rapidly, and a number of outstanding companies with certain competitive advantages have emerged in the country, such as Yingde Gas, Hangzhou Oxygen Co., Ltd., Shenma Co., Ltd., Sichuan Qiaoyuan Gas, Shanghai Baosteel Gas, Juhua Co., Ltd., etc. In recent years, the competitive advantages of my country’s cryogenic liquid companies have been continuously enhanced, but there is still some room for improvement compared with international companies.

From the perspective of market segments, according to different types, the cryogenic liquid market can be subdivided into liquid oxygen, liquid nitrogen, liquid argon, liquid helium, liquid hydrogen, etc. Among them, liquid nitrogen is the largest market segment, accounting for nearly 50% of the market , followed by liquid oxygen, with a market share of more than 30%. Liquid nitrogen is an industrial gas that is usually produced by air fractionation in industry. Nitrogen accounts for about 78% of the air. Therefore, there are abundant sources of liquid nitrogen raw materials and high industry output.

​Industry analysts said that low-temperature liquids have a wide range of applications, market demand is constantly being released, and there is large room for industry development in the future. Affected by transportation, production, technology and other factors, the global cryogenic liquid market is highly concentrated, with foreign companies occupying a major share of the global market. my country’s cryogenic liquid market started late, but is developing rapidly. It is expected that my country’s cryogenic liquid market will remain high in the next four years. growth rate relative to the global average.