Carbon Dioxide Production in the US - Industry Market Research Report

Slow leak: Industrial production growth and increased domestic oil drilling activity will boost industry revenue

Carbon dioxide producers manufacture and refine carbon dioxide, selling it to downstream industries in either gas, liquid or solid forms. Carbon dioxide has multiple uses across various industries, somewhat protecting producers from volatility. The pandemic directly impacted demand for carbon dioxide products. The healthcare sector boomed as a major market for carbon dioxide, as healthcare facilities rely heavily on dry ice to transport medicine and bio specimens at lower temperatures. Dry ice sales boomed due to the vaccine's rollout, enabling downstream manufacturers to distribute them with fewer risks. Similarly, the food and beverage sector uses carbon dioxide to freeze-dry foods, as an additive and to carbonate drinks. Although consumption of carbonated soft drinks, such as soda, has slowed down, the growing demand for beer and wine has been able to offset losses from the food and beverage sector. However, rising demand for frozen foods drives demand from the food and beverage sector. These trends are likely to cause revenue to grow at a CAGR of 4.7% to $1.1 billion, including a 1.1% dip in 2023 alone. This industry manufactures carbon dioxide in compressed and solid forms. Operators then supply the carbon dioxide to a diverse range of customers, including industrial, medical and specialized users. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.