Carbon Dioxide Market
The Carbon Dioxide Market is estimated to grow at a significant CAGR over the forecast period (2020-2027).
The factors driving the growth of Carbon Dioxide Market includes increasing use of carbon dioxide in the oil and gas industry, growing demand for meat and poultry products, rise in the consumption of carbon dioxide from metal manufacturing & fabrication. According to the report published by Statista, the market value of Global Meat Industry was calculated around USD 897.5 billion in 2021 and is predicted to surpass USD 1.3 trillion by the end of 2027, which will accelerate the market growth in the approaching years. Moreover, growing application of carbon dioxide in invasive surgery and respiratory simulation, increase in the number of carbon dioxide-enhanced oil recovery projects in the United States and rising geriatric population across the globe, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, rapid urbanization, rising disposable incomes and growing population growth rates, are further contributing to the market growth.
However, the growth of Carbon Dioxide Market is hindered due to concerns related to leakage of carbon dioxide while transporting through pipelines.
The leading players operating in the market are Matheson Tri-Gas, Inc., Reliant Gases, Air Liquide, Linde plc, UIG, Air Products and Chemicals, Inc., Messer Group, Airgas, Inc., Praxair, Inc. and Continental Carbonic Products, Inc., among others.
Based on Source, the Hydrogen segment is predicted to expand at a remarkable CAGR during the forecast period
Carbon dioxide is increasingly used in the thermochemical and biological processes, are propelling the growth of the segment.
Based on Application, the Food & Beverages segment is projected to grow at a robust CAGR over the forecast period
Increasing application of carbon dioxide in carbonated drinks, growing demand for frozen food and products across the globe and changing lifestyles, are some of the factors propelling the growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to capture a sizeable market share during the forecast period
As per the Carbon Dioxide Market Analysis, expansion of the oil and gas industry, rise in the production of carbon dioxide, growing demand for frozen food products, rapid urbanization, improvements in the living standards and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.
Key Developments
- In 2019, Air Products and Chemical, Inc. acquired ACP Europe SA, to provide better service to customers and expand its foothold across Europe.
- In 2018, Air Liquide, entered into an agreement with AVR, which will the Air Liquide to facilitate the distribution and storage of liquid carbon dioxide.
Market Segmentation
Global Carbon Dioxide Market by Source
- Hydrogen
- Ethyl Alcohol
- Ethylene Oxide
- Substitute Natural Gas
- Others
Global Carbon Dioxide Market by Application
- Food & Beverages
- Oil & Gas
- Medical
- Rubber
- Fertilizer/Agrochemicals
- Metal Manufacturing
- Others
Global Carbon Dioxide Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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