The carbon dioxide market size is anticipated to reach around US$ 20 bn by 2027 and growing at a noteworthy CAGR of 8% over the forecast period 2020 to 2027.
In various uses, carbon dioxide is used for instance inert gas in fire fighting, EOR, soda charcoaling and milk cooling and freezing uses. Increased R&D investment in advanced EOR and Carbon Capture and Storage (CCS) technologies has led to an rise in CO2 demand which is, in effect, projected to fuel industry growth in the coming years.
In the forecast period, there will be significant growth in the demand for carbon dioxide (CO2). Increasing the offshore player enhanced oil recovery operations is projected to fuel market demand in order to sustain their production rates. Developing market growth is expected to be driven by a growing use of carbon dioxide in applications such as cooling, food and drinks, chemical wholesaling and medicines. Rising demand for soft and carbonated beverages is a significant driver of industry development for the next 9 years. The high cost of capturing and liquefying carbon dioxide and of transport is projected to be the primary limiting factor in market development. Regarding the increase in carbon dioxide supply and resulting decline in prices from several possible outlets, it is likely that now the expansion of the demand will be impeded.
The market research study on “Carbon Dioxide Market (By Type: Liquid Carbon Dioxide, Solid Carbon Dioxide, Gaseous Carbon Dioxide; By Application: Food & Beverages, Oil & Gas, Medical, Rubber, Fire Fighting, Others) - Global Industry, Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global carbon dioxide market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global carbon dioxide market are type, application and major geographic regions. The carbon dioxide market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
In 2019, the dominant regional demand was projected in North America. The main participating countries are the U.S. and Canada. Across the oil and gas sectors, CO2 carbon is commonly used for increased oil recovery. The gas is injected into the oil production pipes under high pressure and drives the oil through the top of the ground through these pipes. The use of CO2 gas simplifies oil flow and reduces the oil viscosity. The growth rate of the carbon dioxide demand in Asia Pacific is further analyzed in dividing the field into countries such as Australia and New Zealand, Japan , India, Vietnam, Thailand , South Korea, Indonesia , China and the rest of the Asia Pacific region like Taiwan. Indonesia is expected to increase oil and gas consumption due to various factors like population growth, solid economy and power, increased reliance on petroleum products, and increased investment by market players. The increased petroleum and gas activities in the Middle East and Africa are expected to boost demand for a range of technologies, including EOR and Improved Oil Recovery (Ior). Furthermore, the growing demand for oil and gas worldwide will stimulate regional market expansion which will support the growth of the sector.
The competitive landscape in the carbon dioxide industry analysis report offers extensive information on the major players in the carbon dioxide sector. Different viewpoints have been widely explored for influential players on the carbon dioxide market, including product portfolio, technical advances, primary differential approaches and other finances. Major players included in this report The Linde Group, Universal Industrial Gases, Inc., Air Products and Chemicals, Inc., Airgas, Inc., Continental Carbonic Products, Inc., INOX Air Products Ltd., Praxair, Inc., Air Liquide, Matheson Tri-Gas, Inc., Sicgil India Limited, and others.
The global carbon dioxide market is segmented as below:
Carbon Dioxide Market By Type
Carbon Dioxide Market By Application
Carbon Dioxide Market By Geography
Middle East & Africa
In various uses, carbon dioxide is used for instance inert gas in fire fighting, EOR, soda charcoaling and milk cooling and freezing uses.
Increasing use of Co2 in enhanced oil recovery (Eor) is the major drivers for the growth of the carbon dioxide market.
Increasing carbon emissions & high cost of carbon capture and storage (Ccs) technology are a major factor expected to restraint the growth of the market.
The market value of carbon dioxide is anticipated to be worth around US$ 20,000 Mn in 2027.
The carbon dioxide market is anticipated to grow around 8% CAGR amid the forecast period.2020-2027
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.
Major players included in this report The Linde Group, Universal Industrial Gases, Inc., Air Products and Chemicals, Inc., Airgas, Inc., Continental Carbonic Products, Inc., INOX Air Products Ltd., Praxair, Inc., Air Liquide, Matheson Tri-Gas, Inc., Sicgil India Limited, and others.