The major driving forces responsible for the growth of the liquid nitrogen market includes a rise in demand for electronic items and increasing demand from the healthcare domain. Additionally, the expansion of the chemical industry in the developing and emerging economies further propelling the growth of the liquid nitrogen market. Increasing demand for coolant in cars and heavy vehicles is encouraging the use of liquid nitrogen for the automobile industry. Moreover, the food industry finds a significant use from a storage perspective. However, health hazards associated with excessive use of liquid nitrogen is likely to limit the market growth in terms of use.