Portland, OR -- (SBWIRE) -- 08/25/2017 -- Cryogenic fuels are majorly used in rocket ships and satellites. These fuels include liquid hydrogen, oxygen, methane, LNG, nitrogen, carbon dioxide (CO2), acetylene, helium, xenon, neon, krypton, and argon and are stored at extremely low temperatures so that they can be maintained in a liquid state.Moreover, cryogenic fuels are also used in the aforementioned machines owing to the absence of the environment that supports combustion. Moreover, these fuels majorly are composed of liquefied gases such as liquid hydrogen. The high energy density of these fuels is used to generate thrust in rockets and also control consumption of fuels. Furthermore, cryogenic fuels are also regarded as environmentally cleaner than gasoline.The report segments the cryogenic fuels market on the basis of type, end-user, and geography. Based on type, it is divided into inert gases, flammable gases, and oxygen. Inert gases are further segmented into liquid nitrogen, liquid air, liquid helium, and liquid neon. Flammable gases are further categorized into liquid hydrogen, liquid natural gas, and liquid methane.
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The market is witnessing strong demand owing to rise in food safety concerns. Cryogenic nitrogen is increasingly deployed among the food & beverage industry owing to applications, such as freezing meat, poultry, fruits, seafood, vegetables, baked products, and prepared meals. Reduction in weight along with preservation of the quality of food in comparison with traditional mechanical freezing is another factor leading to market growth. Furthermore, recent trend of using LNG as a marine fuel has significantly reduced GHG emissions. Therefore, growth in use of LNG fuel in ships is also expected to drive the growth of the market. However, fluctuating prices of oil and gas and steel commodities hamper the market growth to some extent.
Comprehensive competitive analysis and profiles of major market players include:
-Air Products and Chemicals
-Advanced Gas Technologies
-Asia Technical Gas
- This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of the global cryogenic fuels market to identify the prevailing market opportunities.
-Major countries in each region are mapped according to individual market revenue.
-Comprehensive analysis of factors that drive and restrict the market growth is provided.
-An in-depth analysis of current research & clinical developments within the market is provided with key dynamic factors.
-Key players and their key developments in the recent years are listed.
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Cryogenic Fuels Market Key Segments:
- Liquid Nitrogen
- Liquid Air
- Liquid Helium
- Liquid Neon
- Liquid Hydrogen
- Liquid Natural Gas
- Liquid Methane
Other Market Players:
-Mitsubishi Chemical Holdings Group
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