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 Insights

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).

High use of carbon dioxide in multiple industry verticals for different applications is expected to primarily drive the demand for carbon dioxide going forward. Extensive use of carbon dioxide in enhanced oil recovery technologies, preparation of carbonated beverages, freezing of food products, and other applications is presenting new opportunities for carbon dioxide companies over the coming years. High versatility of carbon dioxide in its various forms is also expected to bolster its demand on a global level. Rising use of carbon capture and storage technologies and increasing investments in the advancements of the same are also forecasted to create new business scope for carbon dioxide providers in the long run. On the contrary, imposition of stringent environmental regulations, high costs of storage and transportation, and health and safety risks associated with carbon dioxide are forecasted to slow down the adoption of carbon dioxide across the study period and beyond.

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FAQs

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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