Global Carbon Dioxide Market is valued at approximately USD 11.11 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 3.6% over the forecast period 2024-2032. Carbon dioxide (CO2) is a versatile chemical compound composed of one carbon atom and two oxygen atoms, known for its greenhouse gas properties and its significant role in the carbon cycle. Despite being present in low concentrations in the atmosphere, CO2 is vital for various industrial applications, including hydrogen production through steam reforming of natural gas, ethanol production via fermentation, and numerous others.
The compound's adaptability is evident in its wide range of uses, such as an acidifying agent in water treatment, an inert gas in metalworking and fire suppression, a solvent in oil recovery, and cooling applications. One of the prominent factors driving the market growth is the increasing demand for carbonated beverages, which significantly boosts CO2 consumption.
The adoption of Carbon Capture and Storage (CCS) technology is a critical trend propelling market growth. CCS technology captures CO2 emissions from fossil fuel combustion in electricity generation, cement manufacturing, and biomass power plants, preventing these emissions from entering the atmosphere. CO2 has diverse applications in the medical industry, such as stabilizing body cavities during minimally invasive surgery, respiratory stimulation, tissue freezing, and tooth sensitivity assessment. Additionally, the food & beverage industry uses CO2 for carbonating beverages and freezing meat & poultry, contributing to the rising demand for CO2 from packaged food & beverage producers.
Transportation challenges pose a significant hurdle to market growth. Pipelines, the primary mode for CO2 transport, require high maintenance and are subject to leakage risks, which can hinder market expansion. Additionally, protocols like the Kyoto Protocol, aimed at limiting greenhouse gas emissions, may further restrict the carbon dioxide market growth during the forecast period.
The key regions considered for the Global Carbon Dioxide Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is a dominating region in the Global Carbon Dioxide Market in terms of revenue. The market growth in the region is being attributed to factors including due to high demand from the food & beverage and medical industries. China, as a major manufacturing hub, significantly contributes to the region's demand for CO2. The market in India is also growing, driven by increased beverage consumption due to a rising population and higher disposable incomes. Whereas, the market in North America is anticipated to grow at the fastest rate over the forecast period fueled by demand for oil recovery applications. The well-established infrastructure and rising awareness of environmental issues further support market growth in this region.
Major market player included in this report are:
- Sicgil India Limited (India)
- Matheson Tri-Gas, Inc. (U.S.)
- Universal Industrial Gases, Inc. (U.S.)
- The Messer Group GmbH (Germany)
- SOL Spa (Italy)
- POET, LLC (U.S.)
- Reliant Gases (U.S.)
- India Glycols Limited (India)
- Linde plc (Ireland)
- Air Products and Chemicals, Inc. (U.S.)
- Air Liquide (France)
- Gulf Cryo
- BASF SE
- Coregas Pty Ltd
- Continental Carbonic Products, Inc.
The detailed segments and sub-segment of the market are explained below:
By Form
By Source
- Ethyl Alcohol
- Hydrogen
- Ethylene Oxide
- Substitute Natural Gas
- Others
By End-Use Industry
- Food & Beverage
- Oil & Gas
- Medical
- Metal Fabrication
- Firefighting
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Carbon Dioxide Market Executive Summary
- 1.1. Global Carbon Dioxide Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Form
- 1.3.2. By Source
- 1.3.3. By End-Use Industry
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Carbon Dioxide Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Carbon Dioxide Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Adoption of CCS Technology
- 3.1.2. Increasing Use in Medical and Food & Beverage Industries
- 3.2. Market Challenges
- 3.2.1. Transportation Concerns
- 3.2.2. Regulatory Restrictions
- 3.3. Market Opportunities
- 3.3.1. Expansion in Emerging Markets
- 3.3.2. Development of New Applications
- 3.3.3. Government Initiatives
Chapter 4. Global Carbon Dioxide Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Carbon Dioxide Market Size & Forecasts by Form 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Carbon Dioxide Market: Form Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Liquid
- 5.2.2. Gas
- 5.2.3. Solid
Chapter 6. Global Carbon Dioxide Market Size & Forecasts by Source 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Carbon Dioxide Market: Source Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Ethyl Alcohol
- 6.2.2. Hydrogen
- 6.2.3. Ethylene Oxide
- 6.2.4. Substitute Natural Gas
- 6.2.5. Others
Chapter 7. Global Carbon Dioxide Market Size & Forecasts by End-Use Industry 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Carbon Dioxide Market: End-Use Industry Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Food & Beverage
- 7.2.2. Oil & Gas
- 7.2.3. Medical
- 7.2.4. Metal Fabrication
- 7.2.5. Firefighting
- 7.2.6. Others
Chapter 8. Global Carbon Dioxide Market Size & Forecasts by Region 2022-2032
- 8.1. North America Carbon Dioxide Market
- 8.1.1. U.S. Carbon Dioxide Market
- 8.1.1.1. Form breakdown size & forecasts, 2022-2032
- 8.1.1.2. Source breakdown size & forecasts, 2022-2032
- 8.1.1.3. End-Use Industry breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Carbon Dioxide Market
- 8.2. Europe Carbon Dioxide Market
- 8.2.1. U.K. Carbon Dioxide Market
- 8.2.2. Germany Carbon Dioxide Market
- 8.2.3. France Carbon Dioxide Market
- 8.2.4. Spain Carbon Dioxide Market
- 8.2.5. Italy Carbon Dioxide Market
- 8.2.6. Rest of Europe Carbon Dioxide Market
- 8.3. Asia-Pacific Carbon Dioxide Market
- 8.3.1. China Carbon Dioxide Market
- 8.3.2. India Carbon Dioxide Market
- 8.3.3. Japan Carbon Dioxide Market
- 8.3.4. Australia Carbon Dioxide Market
- 8.3.5. South Korea Carbon Dioxide Market
- 8.3.6. Rest of Asia Pacific Carbon Dioxide Market
- 8.4. Latin America Carbon Dioxide Market
- 8.4.1. Brazil Carbon Dioxide Market
- 8.4.2. Mexico Carbon Dioxide Market
- 8.4.3. Rest of Latin America Carbon Dioxide Market
- 8.5. Middle East & Africa Carbon Dioxide Market
- 8.5.1. Saudi Arabia Carbon Dioxide Market
- 8.5.2. South Africa Carbon Dioxide Market
- 8.5.3. Rest of Middle East & Africa Carbon Dioxide Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Sicgil India Limited
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Market Strategies
- 9.3.2. Matheson Tri-Gas, Inc.
- 9.3.3. Universal Industrial Gases, Inc.
- 9.3.4. The Messer Group GmbH
- 9.3.5. SOL Spa
- 9.3.6. POET, LLC
- 9.3.7. Reliant Gases
- 9.3.8. India Glycols Limited
- 9.3.9. Linde plc (Ireland)
- 9.3.10. Air Products and Chemicals, Inc. (U.S.)
- 9.3.11. Air Liquide (France)
- 9.3.12. Gulf Cryo
- 9.3.13. BASF SE
- 9.3.14. Coregas Pty Ltd
- 9.3.15. Continental Carbonic Products, Inc.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes