Carbon Dioxide Market Overview
The Carbon Dioxide Market is characterized by constant innovation, driven by technological advancements and ever-changing consumer preferences. Our market overview serves as a vital resource for businesses to navigate this dynamic landscape, enabling informed decision-making and the ability to capitalize on emerging opportunities.
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Global Carbon Dioxide Market size was valued at USD 8.62 Bn. in 2022 and the total Carbon Dioxide revenue is expected to grow by 4.87 % from 2023 to 2029, reaching nearly USD 12.03 Bn.
Market dynamics for carbon dioxide:
Carbon Dioxide (CO2) is utilised in many different applications, including food processing, medicinal, carbonating beverages, and other industrial purposes that fuel the growth of the carbon dioxide sector. Global demand for CO2 emissions is being driven up by an increase in research and development (R&D) spending on cutting edge technologies such as enhanced oil recovery (EOR) and carbon capture and storage (CCS).
Global use of carbon dioxide in a variety of end-use applications is anticipated due to its tremendous abundance and numerous advantages over other industrial gases. The medical field makes extensive use of carbon dioxide for a variety of purposes, including cryotherapy, tissue freezing, invasive surgery to stabilise bodily cavities, and respiratory stimulation.
Carbon Dioxide Market Segment Analysis:
The carbon dioxide market is divided into categories such as hydrogen, ethylene alcohol, methyl alcohol, substitute natural gas, and others, according to the source. In 2022, the Ethyl Alcohol category held the highest market share, accounting for 32.17%. Alcoholic fermentation produces carbon dioxide as a byproduct during the ethyl alcohol production process. The high purity level and preference for food grade carbon dioxide derived from ethyl alcohol fuels the source demand for this source. Over the course of the projection period, the hydrogen segment is anticipated to grow quickly at a CAGR of 4.7%.
The carbon dioxide market is divided into several segments based on the application, including food and beverage, oil and gas, medical, rubber, fire fighting, and others. In 2022, the highest proportion (41.37%) was accounted for by the Food and Beverages segment. Carbon dioxide is primarily utilised in the food and beverage industries to manage pH levels, carbonate drinks, and freeze poultry and food sources. People’s changing lifestyles raise demand for frozen and ready-to-make foods, increasing carbon dioxide consumption. Additionally, the demand for food and beverages has increased due to the growing global population, which is anticipated to support the expansion of the carbon dioxide market throughout the course of the forecast period.
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Carbon Dioxide Market Key Companies
1. Universal Industrial Gases, Inc. [United States]
2. Linde Group
3. Air Products and Chemicals, Inc.
4. INOX Air Products Ltd.
5. Continental Carbonic Products, Inc. [United States] 6. Matheson Tri-Gas, Inc.
7. Air Liquide International S.A.
8. Praxair Inc.
9. Gulf Cryo
10. Bristol Gases–Concorde Corodex Group
11. Buzwair Industrial Gases Factory
12. Dubai Industrial Gases
14. Taiyo Nippon Sanso Corp.
Carbon Dioxide Market Regional Insights
North America region held the largest market share accounting for 40.88 % in 2022. The presence of a large number of oil and gas production and refineries in this region is driving the growth of the carbon dioxide market growth during the forecast period. As per the American Petroleum Institute, the oil and gas industry has registered significant demand for carbon dioxide for the last 35 years for additional oil recovery. The Department of Energy in the U.S. reported that nearly 137 billion barrels of potential oil resources are recoverable over carbon dioxide-enhanced oil recovery, almost 67 billion barrels recoverable at the cost of around US$ 85 per barrel. The U.S. accounted for 29% of global carbon dioxide demand in the year 2022. Asia Pacific region is also gaining some growth and is expected to witness a significant CAGR of 5.07% during the forecast period.
Table of Content: Carbon Dioxide Market
Part 01: Executive Summary
Part 02: Scope of the Carbon Dioxide Market Report
Part 03: Global Carbon Dioxide Market Landscape
Part 04: Global Carbon Dioxide Market Sizing
Part 05: Global Carbon Dioxide Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Key questions answered in the Carbon Dioxide Market are:
- What is Carbon Dioxide?
- What was the Carbon Dioxide market size in 2022?
- What is the growth rate of the Carbon Dioxide Market?
- Which are the factors expected to drive the Carbon Dioxide market growth?
- What are the different segments of the Carbon Dioxide Market?
- What growth strategies are the players considering to increase their presence in Carbon Dioxide?
- What are the upcoming industry applications and trends for the Carbon Dioxide Market?
- What major challenges could the Carbon Dioxide Market face in the future?
- What segments are covered in the Carbon Dioxide Market?
- Who are the leading companies and what are their portfolios in Carbon Dioxide Market?
- What segments are covered in the Carbon Dioxide Market?
- Who are the key players in the Carbon Dioxide market?
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
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