Global Cryogenic Liquids Supply, Demand and Key Producers, 2026-2032
1 Supply Summary
- 1.1 Cryogenic Liquids Introduction
- 1.2 World Cryogenic Liquids Supply & Forecast
- 1.2.1 World Cryogenic Liquids Production Value (2021 & 2025 & 2032)
- 1.2.2 World Cryogenic Liquids Production (2021-2032)
- 1.2.3 World Cryogenic Liquids Pricing Trends (2021-2032)
- 1.3 World Cryogenic Liquids Production by Region (Based on Production Site)
- 1.3.1 World Cryogenic Liquids Production Value by Region (2021-2032)
- 1.3.2 World Cryogenic Liquids Production by Region (2021-2032)
- 1.3.3 World Cryogenic Liquids Average Price by Region (2021-2032)
- 1.3.4 North America Cryogenic Liquids Production (2021-2032)
- 1.3.5 Europe Cryogenic Liquids Production (2021-2032)
- 1.3.6 China Cryogenic Liquids Production (2021-2032)
- 1.3.7 Japan Cryogenic Liquids Production (2021-2032)
- 1.3.8 Southeast Asia Cryogenic Liquids Production (2021-2032)
- 1.3.9 India Cryogenic Liquids Production (2021-2032)
- 1.3.10 South America Cryogenic Liquids Production (2021-2032)
- 1.3.11 Mid East & Africa Cryogenic Liquids Production (2021-2032)
- 1.4 Market Drivers, Restraints and Trends
- 1.4.1 Cryogenic Liquids Market Drivers
- 1.4.2 Factors Affecting Demand
- 1.4.3 Cryogenic Liquids Major Market Trends
2 Demand Summary
- 2.1 World Cryogenic Liquids Demand (2021-2032)
- 2.2 World Cryogenic Liquids Consumption by Region
- 2.2.1 World Cryogenic Liquids Consumption by Region (2021-2026)
- 2.2.2 World Cryogenic Liquids Consumption Forecast by Region (2027-2032)
- 2.3 United States Cryogenic Liquids Consumption (2021-2032)
- 2.4 China Cryogenic Liquids Consumption (2021-2032)
- 2.5 Europe Cryogenic Liquids Consumption (2021-2032)
- 2.6 Japan Cryogenic Liquids Consumption (2021-2032)
- 2.7 South Korea Cryogenic Liquids Consumption (2021-2032)
- 2.8 ASEAN Cryogenic Liquids Consumption (2021-2032)
- 2.9 India Cryogenic Liquids Consumption (2021-2032)
3 World Manufacturers Competitive Analysis
- 3.1 World Cryogenic Liquids Production Value by Manufacturer (2021-2026)
- 3.2 World Cryogenic Liquids Production by Manufacturer (2021-2026)
- 3.3 World Cryogenic Liquids Average Price by Manufacturer (2021-2026)
- 3.4 Cryogenic Liquids Company Evaluation Quadrant
- 3.5 Industry Rank and Concentration Rate (CR)
- 3.5.1 Global Cryogenic Liquids Industry Rank of Major Manufacturers
- 3.5.2 Global Concentration Ratios (CR4) for Cryogenic Liquids in 2025
- 3.5.3 Global Concentration Ratios (CR8) for Cryogenic Liquids in 2025
- 3.6 Cryogenic Liquids Market: Overall Company Footprint Analysis
- 3.6.1 Cryogenic Liquids Market: Region Footprint
- 3.6.2 Cryogenic Liquids Market: Company Product Type Footprint
- 3.6.3 Cryogenic Liquids Market: Company Product Application Footprint
- 3.7 Competitive Environment
- 3.7.1 Historical Structure of the Industry
- 3.7.2 Barriers of Market Entry
- 3.7.3 Factors of Competition
- 3.8 New Entrant and Capacity Expansion Plans
- 3.9 Mergers, Acquisition, Agreements, and Collaborations
4 United States VS China VS Rest of the World
- 4.1 United States VS China: Cryogenic Liquids Production Value Comparison
- 4.1.1 United States VS China: Cryogenic Liquids Production Value Comparison (2021 & 2025 & 2032)
- 4.1.2 United States VS China: Cryogenic Liquids Production Value Market Share Comparison (2021 & 2025 & 2032)
- 4.2 United States VS China: Cryogenic Liquids Production Comparison
- 4.2.1 United States VS China: Cryogenic Liquids Production Comparison (2021 & 2025 & 2032)
- 4.2.2 United States VS China: Cryogenic Liquids Production Market Share Comparison (2021 & 2025 & 2032)
- 4.3 United States VS China: Cryogenic Liquids Consumption Comparison
- 4.3.1 United States VS China: Cryogenic Liquids Consumption Comparison (2021 & 2025 & 2032)
- 4.3.2 United States VS China: Cryogenic Liquids Consumption Market Share Comparison (2021 & 2025 & 2032)
- 4.4 United States Based Cryogenic Liquids Manufacturers and Market Share, 2021-2026
- 4.4.1 United States Based Cryogenic Liquids Manufacturers, Headquarters and Production Site (States, Country)
- 4.4.2 United States Based Manufacturers Cryogenic Liquids Production Value (2021-2026)
- 4.4.3 United States Based Manufacturers Cryogenic Liquids Production (2021-2026)
- 4.5 China Based Cryogenic Liquids Manufacturers and Market Share
- 4.5.1 China Based Cryogenic Liquids Manufacturers, Headquarters and Production Site (Province, Country)
- 4.5.2 China Based Manufacturers Cryogenic Liquids Production Value (2021-2026)
- 4.5.3 China Based Manufacturers Cryogenic Liquids Production (2021-2026)
- 4.6 Rest of World Based Cryogenic Liquids Manufacturers and Market Share, 2021-2026
- 4.6.1 Rest of World Based Cryogenic Liquids Manufacturers, Headquarters and Production Site (State, Country)
- 4.6.2 Rest of World Based Manufacturers Cryogenic Liquids Production Value (2021-2026)
- 4.6.3 Rest of World Based Manufacturers Cryogenic Liquids Production (2021-2026)
5 Market Analysis by Gas Type
- 5.1 World Cryogenic Liquids Market Size Overview by Gas Type: 2021 VS 2025 VS 2032
- 5.2 Segment Introduction by Gas Type
- 5.2.1 Liquid Nitrogen (LIN)
- 5.2.2 Liquid Oxygen (LOX)
- 5.2.3 Liquid Argon (LAR)
- 5.2.4 Liquid Hydrogen (LH2)
- 5.2.5 Liquid Helium (LHe)
- 5.2.6 Others
- 5.3 Market Segment by Gas Type
- 5.3.1 World Cryogenic Liquids Production by Gas Type (2021-2032)
- 5.3.2 World Cryogenic Liquids Production Value by Gas Type (2021-2032)
- 5.3.3 World Cryogenic Liquids Average Price by Gas Type (2021-2032)
6 Market Analysis by Supply Mode
- 6.1 World Cryogenic Liquids Market Size Overview by Supply Mode: 2021 VS 2025 VS 2032
- 6.2 Segment Introduction by Supply Mode
- 6.2.1 Merchant Bulk (Tanker)
- 6.2.2 Dewars Microbulk
- 6.2.3 Other
- 6.3 Market Segment by Supply Mode
- 6.3.1 World Cryogenic Liquids Production by Supply Mode (2021-2032)
- 6.3.2 World Cryogenic Liquids Production Value by Supply Mode (2021-2032)
- 6.3.3 World Cryogenic Liquids Average Price by Supply Mode (2021-2032)
7 Market Analysis by Purity Grade
- 7.1 World Cryogenic Liquids Market Size Overview by Purity Grade: 2021 VS 2025 VS 2032
- 7.2 Segment Introduction by Purity Grade
- 7.2.1 Industrial Grade
- 7.2.2 Medical Grade
- 7.2.3 High-Purity Semiconductor
- 7.2.4 Other Grade
- 7.3 Market Segment by Purity Grade
- 7.3.1 World Cryogenic Liquids Production by Purity Grade (2021-2032)
- 7.3.2 World Cryogenic Liquids Production Value by Purity Grade (2021-2032)
- 7.3.3 World Cryogenic Liquids Average Price by Purity Grade (2021-2032)
8 Market Analysis by Application
- 8.1 World Cryogenic Liquids Market Size Overview by Application: 2021 VS 2025 VS 2032
- 8.2 Segment Introduction by Application
- 8.2.1 Manufacturing
- 8.2.2 Chemical & Energy
- 8.2.3 Metals
- 8.2.4 Rubber & Plastic
- 8.2.5 Food & Beverages
- 8.2.6 Medical & Healthcare
- 8.2.7 Others
- 8.3 Market Segment by Application
- 8.3.1 World Cryogenic Liquids Production by Application (2021-2032)
- 8.3.2 World Cryogenic Liquids Production Value by Application (2021-2032)
- 8.3.3 World Cryogenic Liquids Average Price by Application (2021-2032)
9 Company Profiles
- 9.1 Linde
- 9.1.1 Linde Details
- 9.1.2 Linde Major Business
- 9.1.3 Linde Cryogenic Liquids Product and Services
- 9.1.4 Linde Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.1.5 Linde Recent Developments/Updates
- 9.1.6 Linde Competitive Strengths & Weaknesses
- 9.2 Air Liquide
- 9.2.1 Air Liquide Details
- 9.2.2 Air Liquide Major Business
- 9.2.3 Air Liquide Cryogenic Liquids Product and Services
- 9.2.4 Air Liquide Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.2.5 Air Liquide Recent Developments/Updates
- 9.2.6 Air Liquide Competitive Strengths & Weaknesses
- 9.3 Air Products
- 9.3.1 Air Products Details
- 9.3.2 Air Products Major Business
- 9.3.3 Air Products Cryogenic Liquids Product and Services
- 9.3.4 Air Products Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.3.5 Air Products Recent Developments/Updates
- 9.3.6 Air Products Competitive Strengths & Weaknesses
- 9.4 Taiyo Nippon Sanso
- 9.4.1 Taiyo Nippon Sanso Details
- 9.4.2 Taiyo Nippon Sanso Major Business
- 9.4.3 Taiyo Nippon Sanso Cryogenic Liquids Product and Services
- 9.4.4 Taiyo Nippon Sanso Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.4.5 Taiyo Nippon Sanso Recent Developments/Updates
- 9.4.6 Taiyo Nippon Sanso Competitive Strengths & Weaknesses
- 9.5 Messer Group
- 9.5.1 Messer Group Details
- 9.5.2 Messer Group Major Business
- 9.5.3 Messer Group Cryogenic Liquids Product and Services
- 9.5.4 Messer Group Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.5.5 Messer Group Recent Developments/Updates
- 9.5.6 Messer Group Competitive Strengths & Weaknesses
- 9.6 Air Water
- 9.6.1 Air Water Details
- 9.6.2 Air Water Major Business
- 9.6.3 Air Water Cryogenic Liquids Product and Services
- 9.6.4 Air Water Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.6.5 Air Water Recent Developments/Updates
- 9.6.6 Air Water Competitive Strengths & Weaknesses
- 9.7 Nippon Shokubai
- 9.7.1 Nippon Shokubai Details
- 9.7.2 Nippon Shokubai Major Business
- 9.7.3 Nippon Shokubai Cryogenic Liquids Product and Services
- 9.7.4 Nippon Shokubai Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.7.5 Nippon Shokubai Recent Developments/Updates
- 9.7.6 Nippon Shokubai Competitive Strengths & Weaknesses
- 9.8 Sasol
- 9.8.1 Sasol Details
- 9.8.2 Sasol Major Business
- 9.8.3 Sasol Cryogenic Liquids Product and Services
- 9.8.4 Sasol Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.8.5 Sasol Recent Developments/Updates
- 9.8.6 Sasol Competitive Strengths & Weaknesses
- 9.9 SABIC
- 9.9.1 SABIC Details
- 9.9.2 SABIC Major Business
- 9.9.3 SABIC Cryogenic Liquids Product and Services
- 9.9.4 SABIC Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.9.5 SABIC Recent Developments/Updates
- 9.9.6 SABIC Competitive Strengths & Weaknesses
- 9.10 Rasgas
- 9.10.1 Rasgas Details
- 9.10.2 Rasgas Major Business
- 9.10.3 Rasgas Cryogenic Liquids Product and Services
- 9.10.4 Rasgas Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.10.5 Rasgas Recent Developments/Updates
- 9.10.6 Rasgas Competitive Strengths & Weaknesses
- 9.11 ExxonMobil
- 9.11.1 ExxonMobil Details
- 9.11.2 ExxonMobil Major Business
- 9.11.3 ExxonMobil Cryogenic Liquids Product and Services
- 9.11.4 ExxonMobil Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.11.5 ExxonMobil Recent Developments/Updates
- 9.11.6 ExxonMobil Competitive Strengths & Weaknesses
- 9.12 Yingde Gases
- 9.12.1 Yingde Gases Details
- 9.12.2 Yingde Gases Major Business
- 9.12.3 Yingde Gases Cryogenic Liquids Product and Services
- 9.12.4 Yingde Gases Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.12.5 Yingde Gases Recent Developments/Updates
- 9.12.6 Yingde Gases Competitive Strengths & Weaknesses
- 9.13 Hangzhou Hangyang
- 9.13.1 Hangzhou Hangyang Details
- 9.13.2 Hangzhou Hangyang Major Business
- 9.13.3 Hangzhou Hangyang Cryogenic Liquids Product and Services
- 9.13.4 Hangzhou Hangyang Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.13.5 Hangzhou Hangyang Recent Developments/Updates
- 9.13.6 Hangzhou Hangyang Competitive Strengths & Weaknesses
- 9.14 Sichuan Qiaoyuan Gases
- 9.14.1 Sichuan Qiaoyuan Gases Details
- 9.14.2 Sichuan Qiaoyuan Gases Major Business
- 9.14.3 Sichuan Qiaoyuan Gases Cryogenic Liquids Product and Services
- 9.14.4 Sichuan Qiaoyuan Gases Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.14.5 Sichuan Qiaoyuan Gases Recent Developments/Updates
- 9.14.6 Sichuan Qiaoyuan Gases Competitive Strengths & Weaknesses
- 9.15 Shanghai Baosteel Gases
- 9.15.1 Shanghai Baosteel Gases Details
- 9.15.2 Shanghai Baosteel Gases Major Business
- 9.15.3 Shanghai Baosteel Gases Cryogenic Liquids Product and Services
- 9.15.4 Shanghai Baosteel Gases Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.15.5 Shanghai Baosteel Gases Recent Developments/Updates
- 9.15.6 Shanghai Baosteel Gases Competitive Strengths & Weaknesses
- 9.16 Tangshan Tanggang Gases
- 9.16.1 Tangshan Tanggang Gases Details
- 9.16.2 Tangshan Tanggang Gases Major Business
- 9.16.3 Tangshan Tanggang Gases Cryogenic Liquids Product and Services
- 9.16.4 Tangshan Tanggang Gases Cryogenic Liquids Production, Price, Value, Gross Margin and Market Share (2021-2026)
- 9.16.5 Tangshan Tanggang Gases Recent Developments/Updates
- 9.16.6 Tangshan Tanggang Gases Competitive Strengths & Weaknesses
10 Industry Chain Analysis
- 10.1 Cryogenic Liquids Industry Chain
- 10.2 Cryogenic Liquids Upstream Analysis
- 10.2.1 Cryogenic Liquids Core Raw Materials
- 10.2.2 Main Manufacturers of Cryogenic Liquids Core Raw Materials
- 10.3 Midstream Analysis
- 10.4 Downstream Analysis
- 10.5 Cryogenic Liquids Production Mode
- 10.6 Cryogenic Liquids Procurement Model
- 10.7 Cryogenic Liquids Industry Sales Model and Sales Channels
- 10.7.1 Cryogenic Liquids Sales Model
- 10.7.2 Cryogenic Liquids Typical Distributors
11 Research Findings and Conclusion
12 Appendix
- 12.1 Methodology
- 12.2 Research Process and Data Source
The global Cryogenic Liquids market size is expected to reach $ 40930 million by 2032, rising at a market growth of 2.6% CAGR during the forecast period (2026-2032).
Cryogenic liquids are industrial gases maintained at extremely low temperatures to keep them in liquid form. The core products in scope are liquid nitrogen, liquid oxygen, liquid argon, liquid hydrogen, and liquid helium. They are delivered primarily through merchant bulk (tanker) or dewars/microbulk to on-site storage vessels, and then vaporized or used in liquid form where the process requires deep refrigeration. This supply model matters because it enables dense energy and mass transfer with minimal contamination, reliable quality, and flexible logistics to tens of thousands of mid-sized customers that are not connected to pipeline or on-site plants. Typical purity ladders range from industrial grade to medical specifications and high-purity/semiconductor grades, with certification and traceability setting the barrier to entry.
Upstream, cryogenic liquids depend on large air separation units for LIN/LOX/LAR, plus liquefaction, purification, and distribution assets (storage, vaporizers, tankers, dewars). Liquid hydrogen and liquid helium add specialized liquefaction and handling constraints. The equipment base is capital-intensive and highly regulated for safety. Downstream, demand spans metals and fabrication (shielding, cutting, heat treatment), healthcare (medical oxygen and cryogenic therapies), electronics and semiconductor manufacturing (inerting, cooling, purging), the energy and process industries (maintenance, inerting, purging, leak-testing), food and beverage (freezing, chilling), and aerospace/space/defense (propellants, testing, cryo-cooling). Commercially, merchant bulk and dewars are served under multi-year take-or-pay or volume-commitment contracts, often bundled with storage, vaporizers, telemetry, and maintenance services. Typical gross margins are supported by logistics density, asset utilization, and regulatory qualification of medical and high-purity grades; capital intensity and high switching costs create durable customer lock-in.
In the current market, global production is around 318,million tons, with an average selling price of about 102 USD per ton (EXW basis). The competitive landscape combines global leaders with strong regional champions. Linde, Air Liquide, Air Products, Taiyo Nippon Sanso, Messer, and Air Water anchor global merchant supply footprints, while regional players such as Yingde Gases, Hangzhou Hangyang, and other local operators ensure last-mile coverage. Outside the pure-play industrial gases sphere, large energy and chemical companies interact with cryogenic value chains (for example, through feedstock integration, hydrogen, or LNG-adjacent logistics), which influences contracting structures and capital allocation. CR5 is typically elevated in merchant gases due to network economies in distribution, stringent safety/quality regimes, and the need to balance liquefaction capacity with geographically dense customer bases. Looking ahead to 2025–2031, demand growth is likely to concentrate in electronics/semiconductor, healthcare, and energy-transition projects (including hydrogen ecosystems), while metals/process industries will move with the macro cycle. The main bottlenecks are the long lead times for ASUs and liquefiers, qualified drivers and tank fleets, helium availability and price volatility, and local permitting around medical oxygen infrastructure. Cost curves will be shaped by power prices, logistics intensity, and asset utilization; companies that maintain high route density and leverage digital telemetry to cut boil-off and truck-turn times will defend margins best.
This report studies the global Cryogenic Liquids production, demand, key manufacturers, and key regions.
This report is a detailed and comprehensive analysis of the world market for Cryogenic Liquids and provides market size (US$ million) and Year-over-Year (YoY) Growth, considering 2025 as the base year. This report explores demand trends and competition, as well as details the characteristics of Cryogenic Liquids that contribute to its increasing demand across many markets.
Highlights and key features of the study
Global Cryogenic Liquids total production and demand, 2021-2032, (Kiloton)
Global Cryogenic Liquids total production value, 2021-2032, (USD Million)
Global Cryogenic Liquids production by region & country, production, value, CAGR, 2021-2032, (USD Million) & (Kiloton), (based on production site)
Global Cryogenic Liquids consumption by region & country, CAGR, 2021-2032 & (Kiloton)
U.S. VS China: Cryogenic Liquids domestic production, consumption, key domestic manufacturers and share
Global Cryogenic Liquids production by manufacturer, production, price, value and market share 2021-2026, (USD Million) & (Kiloton)
Global Cryogenic Liquids production by Gas Type, production, value, CAGR, 2021-2032, (USD Million) & (Kiloton)
Global Cryogenic Liquids production by Application, production, value, CAGR, 2021-2032, (USD Million) & (Kiloton)
This report profiles key players in the global Cryogenic Liquids market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Linde, Air Liquide, Air Products, Taiyo Nippon Sanso, Messer Group, Air Water, Nippon Shokubai, Sasol, SABIC, Rasgas, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the World Cryogenic Liquids market
Detailed Segmentation:
Each section contains quantitative market data including market by value (US$ Millions), volume (production, consumption) & (Kiloton) and average price (US$/Ton) by manufacturer, by Gas Type, and by Application. Data is given for the years 2021-2032 by year with 2025 as the base year, 2026 as the estimate year, and 2027-2032 as the forecast year.
Global Cryogenic Liquids Market, By Region:
United States
China
Europe
Japan
South Korea
ASEAN
India
Rest of World
Global Cryogenic Liquids Market, Segmentation by Gas Type:
Liquid Nitrogen (LIN)
Liquid Oxygen (LOX)
Liquid Argon (LAR)
Liquid Hydrogen (LH2)
Liquid Helium (LHe)
Others
Global Cryogenic Liquids Market, Segmentation by Supply Mode:
Merchant Bulk (Tanker)
Dewars Microbulk
Other
Global Cryogenic Liquids Market, Segmentation by Purity Grade:
Industrial Grade
Medical Grade
High-Purity Semiconductor
Other Grade
Global Cryogenic Liquids Market, Segmentation by Application:
Manufacturing
Chemical & Energy
Metals
Rubber & Plastic
Food & Beverages
Medical & Healthcare
Others
Companies Profiled:
Linde
Air Liquide
Air Products
Taiyo Nippon Sanso
Messer Group
Air Water
Nippon Shokubai
Sasol
SABIC
Rasgas
ExxonMobil
Yingde Gases
Hangzhou Hangyang
Sichuan Qiaoyuan Gases
Shanghai Baosteel Gases
Tangshan Tanggang Gases
Key Questions Answered:
1. How big is the global Cryogenic Liquids market?
2. What is the demand of the global Cryogenic Liquids market?
3. What is the year over year growth of the global Cryogenic Liquids market?
4. What is the production and production value of the global Cryogenic Liquids market?
5. Who are the key producers in the global Cryogenic Liquids market?
6. What are the growth factors driving the market demand?