Carbon Dioxide Market Size Worth $6.83 Billion By 2030

The global carbon dioxide market size is projected to grow by USD 6.83 billion by 2030. It is among the various greenhouse gases responsible for creating a warm atmosphere on earth required to sustain life. One major driving factor for the market during the forecast period is the rising demand for carbon dioxide, especially in the food and beverages, and medical industries for Enhanced Oil Recovery (EOR).

The most usable form of this is liquid carbon dioxide for cryogenic freezing and cooling applications for better condition and durability of food items like meat and baked items. Owing to its properties, carbon dioxide is also used for fire suppression, inert gas for metalworking, and acts as an acidifier in water treatment. In addition, the demand for carbon dioxide in medical applications and treatments like tissue freezing and tooth sensitivity assessment is also surging.

Increasing dependence on crude oil, specifically in the Asia Pacific due to the depleting oil reserves led to the deployment of EOR technology. This is highly contributing to the expanding demand for Carbon Dioxide. At present, the key manufacturers are mainly focusing on carbon capture and its utilization, produced by fossil fuels’ combustion used for producing sodium bicarbonate, and for EOR in the gas and oil industry. The growing demand for Carbon Capture Storage (CCS) is encouraging market players to develop advanced technologies for controlling carbon emissions.

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Carbon Dioxide Market Report Highlights

• With the ongoing industrialization and the flourishing oil and gas industry, the U.S. possesses a large size manufacturing industries across the world

• Ethyl alcohol segment is predicted to witness constant growth in terms of revenue over the forecast period

• The markets within East Asia and North America are predicted to be dominant by 2030 with as much as 57% of the share

• The markets in countries like China, India, Japan, Indonesia, Thailand, and Malaysia are anticipated to expand at a high CAGR

Carbon Dioxide Market Segmentation

Million Insights has segmented the global carbon dioxide market based on source, application, and region:

Carbon Dioxide Source Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
    • Hydrogen
    • Ethyl Alcohol
    • Ethylene Oxide
    • Substitute Natural Gas
    • Others

Carbon Dioxide Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
    • Food & Beverages
    • Oil & Gas
    • Medical
    • Rubber
    • Firefighting
    • Others

Carbon Dioxide Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
        • Spain
        • Italy
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
    • Central & South America
        • Brazil
        • Argentina
    • Middle East & Africa
        • Saudi Arabia
        • UAE

List of Key Players in Carbon Dioxide Market
    • Acail Gás
    • Air Liquide
    • Air Products and Chemicals, Inc.
    • Greco Gas Inc.
    • Linde AG
    • Messer Group
    • Sicgil India Limited
    • SOL Group
    • Strandmøllen A/S
    • Taiyo Nippon Sanso Corporation