Product Code: A311694
The global carbon monoxide market was valued at $5.6 billion in 2022, and is projected to reach $8.2 billion by 2032, growing at a CAGR of 4.1% from 2023 to 2032.
Carbon monoxide (CO) is an odorless and colorless gas that consists of one carbon atom and one oxygen atom. It is produced by incomplete combustion, which is often associated with the burning of fossil fuels. Carbon monoxide is difficult to detect without advanced tools since it is odorless and invisible. It is used as a reducing agent in metallurgical operations and in many other chemical reactions, including the synthesis of methanol.
The rise in mining and metal extraction activities drives the growth of the carbon monoxide market. The increased demand for metals globally, fueled by the growth of infrastructure, innovations in technology, and the growing need for minerals in renewable energy technologies, is the main driver for a surge in mining and metal extraction activities. In addition, the mining industry is experiencing increased activity due to growing commodity prices and economic expansion in emerging markets.
Carbon monoxide is an essential reducing agent in metallurgical operations that helps remove metals from their ores. Its common use is in the reduction of iron ore to produce steel and iron. Melted iron and carbon dioxide are produced in blast furnaces when carbon monoxide and iron oxides combine. The demand for carbon monoxide in metallurgical operations rises with the globe's increasing demand for steel, driven by the growth of infrastructure and industrial expansion.
Carbon monoxide is also essential to the mining sector for many vital operations. Carbon monoxide is used in the carbon-in-pulp (CIP) and carbon-in-leach (CIL) techniques of gold extraction. In these procedures, carbon monoxide helps activated carbon regenerate while it is used to absorb and recover gold from cyanide leach solutions. Due to economic causes and the value of gold as a financial asset, there is a continual need for carbon monoxide in these extraction procedures due to the global expansion of gold mining activities. Thus, surge in use of carbon monoxide in mining and metal extraction activities is expected to boost the market growth during the forecast period.
The market for carbon monoxide is experiencing significant development restrictions due to inadequate infrastructure, that makes it difficult for the gas to be produced, distributed, and used effectively in a variety of industries. The infrastructure, that involves manufacturing facilities, storage facilities, transportation networks, and end-user applications, is essential to the carbon monoxide supply chain.
Production facilities are a major source of infrastructural restriction. Modern technology is used in the production of carbon monoxide through processes like gasification of solid feedstocks like coal or biomass, partial oxidation of hydrocarbons, and steam methane reforming (SMR). Significant equipment, safety, and environmental regulation compliance expenses are needed for the establishment and maintenance of these facilities. The construction of such sophisticated production facilities is difficult in areas with poor infrastructure, that limits the ability to satisfy the rise in demand for carbon monoxide.
The difficulties are made worse by the lack of a solid distribution network. For many uses, such as in metallurgy, chemicals, and polymers, carbon monoxide is an essential raw ingredient. A strong distribution network is essential to effectively distribute carbon monoxide to these companies. The logistics of transporting carbon monoxide to end consumers become difficult and expensive in areas without a vast network of pipes or dependable transportation networks, which inhibits market expansion. Thus, lack of infrastructure is expected to restrain the growth of the carbon monoxide market during the forecast period.
Technological developments have impacted the processes involved in the manufacture, use, and monitoring of carbon monoxide, significantly boosting the market's growth potential. Advanced methods including autothermal reforming, catalytic reforming, and innovative gasification techniques have improved the production sector's carbon monoxide generation's environmental sustainability and efficiency. These techniques produce CO streams with higher purity, give producers more exact control over reaction conditions, and frequently employ a wider variety of feedstocks, all of which increase production processes' flexibility and lessen their negative environmental effects.
The quality of carbon monoxide produced has also increased due to developments in gas purification and separation technologies, which ensure that contaminants are reduced to a minimum to satisfy strict industrial standards. Innovative separation methods, including membrane separation and pressure swing adsorption (PSA), enable the accurate removal of impurities, producing high-purity carbon monoxide that may be used in a variety of applications. Thus, technological advancements have created an excellent growth opportunity for the expansion of the carbon monoxide market.
The carbon monoxide market is segmented based on purity, application, and region. On the basis of purity, the market is segregated into below 99% and more than 99%. Depending on application, it is classified into metal fabrication, chemicals, pharmaceuticals, electronics, ore processing and extraction, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global carbon monoxide market are Air Liquide, Air Products and Chemicals, Inc., American Gas Products, ATCO Atmospheric And Speciality Gases Private Limited., Axcel Gases, Celanese Corporation, Linde plc, Messer, Middlesex Gases & Technologies, Inc., and Sipchem Company. Other players include Al-Barrak Group Company, Butler Gas Products, Chengdu Taiyu Industrial Gases Co., Ltd., Gruppo SIAD, Gulf Cryo, LOTTE INEOS CHEMICAL CO.,LTD, NEXAIR, PT Samator Indo Gas Tbk., and Topsoe A/S.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the carbon monoxide market analysis from 2022 to 2032 to identify the prevailing carbon monoxide market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the carbon monoxide market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global carbon monoxide market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
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- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Manufacturing Capacity
- Product Benchmarking / Product specification and applications
- Product Life Cycles
- Senario Analysis & Growth Trend Comparision
- Upcoming/New Entrant by Regions
- Technology Trend Analysis
- New Product Development/ Product Matrix of Key Players
- Regulatory Guidelines
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- List of customers/consumers/raw material suppliers- value chain analysis
- SWOT Analysis
Key Market Segments
By Purity
By Application
- Metal Fabrication
- Chemicals
- Pharmaceuticals
- Electronics
- Ore Processing and Extraction
- Others
By Region
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa,
- Saudi Arabia
- Rest of LAMEA
Key Market Players:
- Air Liquide
- Linde plc
- Air Products and Chemicals, Inc.
- American Gas Products
- Sipchem Company
- Messer
- ATCO Atmospheric And Speciality Gases Private Limited.
- middlesex gases & technologies, inc.
- Celanese Corporation
- Axcel Gases
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
- 3.5. Value Chain Analysis
- 3.6. Key Regulation Analysis
CHAPTER 4: CARBON MONOXIDE MARKET, BY PURITY
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Below 99%
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. More than 99%
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
CHAPTER 5: CARBON MONOXIDE MARKET, BY APPLICATION
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Metal Fabrication
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Chemicals
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Pharmaceuticals
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
- 5.5. Electronics
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country
- 5.6. Ore Processing and Extraction
- 5.6.1. Key market trends, growth factors and opportunities
- 5.6.2. Market size and forecast, by region
- 5.6.3. Market share analysis by country
- 5.7. Others
- 5.7.1. Key market trends, growth factors and opportunities
- 5.7.2. Market size and forecast, by region
- 5.7.3. Market share analysis by country
CHAPTER 6: CARBON MONOXIDE MARKET, BY REGION
- 6.1. Overview
- 6.1.1. Market size and forecast By Region
- 6.2. North America
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by Purity
- 6.2.3. Market size and forecast, by Application
- 6.2.4. Market size and forecast, by country
- 6.2.4.1. U.S.
- 6.2.4.1.1. Market size and forecast, by Purity
- 6.2.4.1.2. Market size and forecast, by Application
- 6.2.4.2. Canada
- 6.2.4.2.1. Market size and forecast, by Purity
- 6.2.4.2.2. Market size and forecast, by Application
- 6.2.4.3. Mexico
- 6.2.4.3.1. Market size and forecast, by Purity
- 6.2.4.3.2. Market size and forecast, by Application
- 6.3. Europe
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by Purity
- 6.3.3. Market size and forecast, by Application
- 6.3.4. Market size and forecast, by country
- 6.3.4.1. Germany
- 6.3.4.1.1. Market size and forecast, by Purity
- 6.3.4.1.2. Market size and forecast, by Application
- 6.3.4.2. UK
- 6.3.4.2.1. Market size and forecast, by Purity
- 6.3.4.2.2. Market size and forecast, by Application
- 6.3.4.3. France
- 6.3.4.3.1. Market size and forecast, by Purity
- 6.3.4.3.2. Market size and forecast, by Application
- 6.3.4.4. Italy
- 6.3.4.4.1. Market size and forecast, by Purity
- 6.3.4.4.2. Market size and forecast, by Application
- 6.3.4.5. Spain
- 6.3.4.5.1. Market size and forecast, by Purity
- 6.3.4.5.2. Market size and forecast, by Application
- 6.3.4.6. Rest of Europe
- 6.3.4.6.1. Market size and forecast, by Purity
- 6.3.4.6.2. Market size and forecast, by Application
- 6.4. Asia-Pacific
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by Purity
- 6.4.3. Market size and forecast, by Application
- 6.4.4. Market size and forecast, by country
- 6.4.4.1. China
- 6.4.4.1.1. Market size and forecast, by Purity
- 6.4.4.1.2. Market size and forecast, by Application
- 6.4.4.2. Japan
- 6.4.4.2.1. Market size and forecast, by Purity
- 6.4.4.2.2. Market size and forecast, by Application
- 6.4.4.3. India
- 6.4.4.3.1. Market size and forecast, by Purity
- 6.4.4.3.2. Market size and forecast, by Application
- 6.4.4.4. South Korea
- 6.4.4.4.1. Market size and forecast, by Purity
- 6.4.4.4.2. Market size and forecast, by Application
- 6.4.4.5. Australia
- 6.4.4.5.1. Market size and forecast, by Purity
- 6.4.4.5.2. Market size and forecast, by Application
- 6.4.4.6. Rest of Asia-Pacific
- 6.4.4.6.1. Market size and forecast, by Purity
- 6.4.4.6.2. Market size and forecast, by Application
- 6.5. LAMEA
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by Purity
- 6.5.3. Market size and forecast, by Application
- 6.5.4. Market size and forecast, by country
- 6.5.4.1. Brazil
- 6.5.4.1.1. Market size and forecast, by Purity
- 6.5.4.1.2. Market size and forecast, by Application
- 6.5.4.2. South Africa,
- 6.5.4.2.1. Market size and forecast, by Purity
- 6.5.4.2.2. Market size and forecast, by Application
- 6.5.4.3. Saudi Arabia
- 6.5.4.3.1. Market size and forecast, by Purity
- 6.5.4.3.2. Market size and forecast, by Application
- 6.5.4.4. Rest of LAMEA
- 6.5.4.4.1. Market size and forecast, by Purity
- 6.5.4.4.2. Market size and forecast, by Application
CHAPTER 7: COMPETITIVE LANDSCAPE
- 7.1. Introduction
- 7.2. Top winning strategies
- 7.3. Product mapping of top 10 player
- 7.4. Competitive dashboard
- 7.5. Competitive heatmap
- 7.6. Top player positioning, 2022
CHAPTER 8: COMPANY PROFILES
- 8.1. Air Liquide
- 8.1.1. Company overview
- 8.1.2. Key executives
- 8.1.3. Company snapshot
- 8.1.4. Operating business segments
- 8.1.5. Product portfolio
- 8.1.6. Business performance
- 8.1.7. Key strategic moves and developments
- 8.2. Linde plc
- 8.2.1. Company overview
- 8.2.2. Key executives
- 8.2.3. Company snapshot
- 8.2.4. Operating business segments
- 8.2.5. Product portfolio
- 8.2.6. Business performance
- 8.2.7. Key strategic moves and developments
- 8.3. Air Products and Chemicals, Inc.
- 8.3.1. Company overview
- 8.3.2. Key executives
- 8.3.3. Company snapshot
- 8.3.4. Operating business segments
- 8.3.5. Product portfolio
- 8.3.6. Business performance
- 8.3.7. Key strategic moves and developments
- 8.4. American Gas Products
- 8.4.1. Company overview
- 8.4.2. Key executives
- 8.4.3. Company snapshot
- 8.4.4. Operating business segments
- 8.4.5. Product portfolio
- 8.4.6. Business performance
- 8.4.7. Key strategic moves and developments
- 8.5. Sipchem Company
- 8.5.1. Company overview
- 8.5.2. Key executives
- 8.5.3. Company snapshot
- 8.5.4. Operating business segments
- 8.5.5. Product portfolio
- 8.5.6. Business performance
- 8.5.7. Key strategic moves and developments
- 8.6. Messer
- 8.6.1. Company overview
- 8.6.2. Key executives
- 8.6.3. Company snapshot
- 8.6.4. Operating business segments
- 8.6.5. Product portfolio
- 8.6.6. Business performance
- 8.6.7. Key strategic moves and developments
- 8.7. ATCO Atmospheric And Speciality Gases Private Limited.
- 8.7.1. Company overview
- 8.7.2. Key executives
- 8.7.3. Company snapshot
- 8.7.4. Operating business segments
- 8.7.5. Product portfolio
- 8.7.6. Business performance
- 8.7.7. Key strategic moves and developments
- 8.8. middlesex gases & technologies, inc.
- 8.8.1. Company overview
- 8.8.2. Key executives
- 8.8.3. Company snapshot
- 8.8.4. Operating business segments
- 8.8.5. Product portfolio
- 8.8.6. Business performance
- 8.8.7. Key strategic moves and developments
- 8.9. Celanese Corporation
- 8.9.1. Company overview
- 8.9.2. Key executives
- 8.9.3. Company snapshot
- 8.9.4. Operating business segments
- 8.9.5. Product portfolio
- 8.9.6. Business performance
- 8.9.7. Key strategic moves and developments
- 8.10. Axcel Gases
- 8.10.1. Company overview
- 8.10.2. Key executives
- 8.10.3. Company snapshot
- 8.10.4. Operating business segments
- 8.10.5. Product portfolio
- 8.10.6. Business performance
- 8.10.7. Key strategic moves and developments