Global Carbon Dioxide Market

Global Carbon Dioxide Market Size, Share, Growth Analysis, By Application (Food & Beverages, Oil & Gas), By Source (Ethyl Alcohol, Hydrogen), By Region -Industry Forecast 2024-2031

Report ID: SQMIG15A2446 | Region: Global | Published Date: November, 2024
Pages: 162 | Tables: 68 | Figures: 65

Carbon Dioxide Market News

  • In May 2024, Mammoth, a new carbon capture and storage facility was launched in Iceland. The facility is developed by Climeworks, a Swiss start-up focusing on climate change and has the capacity to suck around 36,000 tonnes of carbon dioxide out of the atmosphere every year.
  • In July 2024, a biotechnology start-up launched in 2021 announced that it had raised USD 43 million. The Series A funding round was led by GV. The company intended to use these funds to commercialize its technology that makes acetic acid and its derivatives from carbon dioxide and hydrogen.
  • In September 2024, Italy’s first carbon capture and storage project was launched. Eni and Snam collaborated to develop and launch this project as part of their efforts to reduce carbon dioxide emissions from industries in the country. The project is powered by renewable energy sources to make it more sustainable.
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Global Carbon Dioxide Market size was valued at USD 10.15 Billion in 2022 and is poised to grow from USD 10.7 Billion in 2023 to USD 15.93 Billion by 2031, growing at a CAGR of 5.1% in the forecast period (2024-2031).

Using sustainable carbon dioxide production processes is expected to be a highly popular strategy for all companies going forward. Targeting the oil & gas industry along with hydrogen production industry is slated to create new opportunities for carbon dioxide providers in the future. Collaborations and partnerships to develop new projects are expected to be essential strategies for all carbon dioxide companies. 'Acail Gas', 'Air Liquide', 'Air Products and Chemicals, Inc.', 'Greco Gas Inc.', 'Linde AG', 'Messer Group', 'Sicgil India Limited', 'SOL Group', 'Quimetal', 'Taiyo Nippon Sanso Corporation'

Carbon dioxide is used for the preparation of carbonated beverages, freezing food products, and packaging to extend shelf life. Rapid expansion of the food and beverages industry to accommodate the rising demand for food products from an expanding population is slated to drive up the demand for carbon dioxide going forward.

Carbon Capture, Utilization, and Storage (CCUS) Technologies: Carbon dioxide companies should focus on advancements in carbon, capture, utilization, and storage technologies to maximize their business scope in the future. Repurposing carbon dioxide as fuels, chemicals, and construction materials through these technologies is expected to present new opportunities for market players in the long run.

North America is forecasted to spearhead the global carbon dioxide demand outlook over the coming years. The presence of a strong oil & gas industry, rising demand for frozen food products, and high adoption of carbon storage and capture technologies are expected to aid the dominance of the North American region. The United States is slated to spearhead revenue generation in this region owing to the high use of enhanced oil recovery technologies for mature oil wells. Canada is another important market for carbon dioxide providers operating in North America going forward. Rising demand for hydrogen production in this region is also expected to increase the production of carbon dioxide going forward.

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Global Carbon Dioxide Market

Report ID: SQMIG15A2446

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