The global carbon dioxide market was valued at $84.2 billion in 2021, and is projected to reach $141.9 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031.
Carbon dioxide can be added to the air through a variety of ways, including the use of compressed CO2 tanks or generators that create CO2 through chemical reactions. CO2 concentrations are usually kept between 800 and 1,200 parts per million (ppm), which is higher than the average atmospheric concentration of around 400 ppm. In the beverage industry, carbon dioxide (CO2) is commonly used to give carbonation or fizz to soft drinks, beer, sparkling wine, and other carbonated beverages. Carbonation is accomplished by dissolving CO2 gas under pressure into the beverage, which creates tiny gas bubbles when the pressure is released.
Carbon dioxide is a colorless and odorless gas found in the Earth's atmosphere. It is made up of one carbon atom and two oxygen atoms and is produced as a byproduct of various natural and human activities such as respiration, the combustion of fossil fuels, and natural processes such as volcanic activity and organic matter decomposition. In greenhouses, carbon dioxide is used to boost plant development and yield. Controlled CO2 amounts in the greenhouse can increase yield by up to 30%.
Carbon dioxide is used in many industrial processes, including refrigeration and cooling, as a solvent in the manufacture of chemicals like urea and methanol, and as a cleaning aid in the electronics industry. CO2 is also used in medical procedures such as laparoscopy to inflate the abdomen and make room for the surgeon to work. It is also used in respiratory treatment to assist patients in breathing easier. Carbon dioxide removal (CDR) is the process of removing CO2 from the atmosphere and storing it for extended periods of time. This can be accomplished through a number of means, such as afforestation, ocean fertilization, and direct air capture.
By foam, liquid is the highest revenue contributor and fastest growing segment in the global carbon dioxide market in 2021. Liquid carbon dioxide, or CO2, has a wide range of industrial and commercial applications. Carbon, in the form of carbon dioxide (CO2), is commonly used in its liquid state for various industrial and commercial applications. Liquid carbon dioxide is a colorless, odorless, and non-flammable substance that is typically stored and transported in high-pressure cylinders or tanks. It has a wide range of uses, including as a cooling agent in food processing, a fire extinguishing agent, a medical application for cryotherapy, a shielding gas in welding and metal fabrication, and a fracturing fluid in the oil and gas industry.
By application, medical is the highest revenue contributor and fastest growing segment in the global carbon dioxide market in 2021. Carbon dioxide is a key component of the body's natural respiratory system and plays an important role in regulating the pH balance of the blood. In addition to its physiological functions, carbon dioxide has a wide range of medical applications and is used in various medical procedures and treatments. This article provides an overview of carbon dioxide usage in medicine, including its applications in diagnostic testing, therapeutic procedures, and surgical interventions.
In addition, the report covers profiles of key industry participants such as ACAIL GÁS, Buzwair Industrial Gases Factories, Dubai Industrial Gases, Ellenbarrie industrial Gases, Gulf Cryo, India Glycols Limited, Linde plc, Messer Group, SOL Spa, and Taiyo Nippon Sanso Corporation.
In February 2022, Linde plc (Linde) expanded its existing agreement with Celanese Corporation (Celanese), a global chemical and specialty materials company and started supplying carbon dioxide and hydrogen to the Celanese manufacturing site in Clear Lake, Texas. Linde provides oxygen, nitrogen, and carbon monoxide to the Clear Lake facility. As part of the updated agreement, Linde also provides carbon dioxide that was captured at a nearby facility it owns and operates to produce carbon monoxide. This agreement will increase the demand for the carbon dioxide market across the globe.
In October 2022, SOL Group invested USD 15 million in the development and startup of the liquid food carbon dioxide production facility in Wanze, Belgium. The installation of a new carbon dioxide liquefaction unit at a bioethanol production facility in Wanze, Belgium, allows for the recovery and transformation of a fraction of the gaseous carbon dioxide of biogenic origin into liquid form, containing the emission of the gas that would otherwise be released into the atmosphere. This expansion will increase the growth of the carbon dioxide market.
COVID-19 Analysis on Global Carbon Dioxide Market:
Carbon dioxide can be added to the air through a variety of ways, including the use of compressed CO2 tanks or generators that create CO2 through chemical reactions. CO2 concentrations are usually kept between 800 and 1,200 parts per million (ppm), which is higher than the average atmospheric concentration of around 400 ppm. In the beverage industry, carbon dioxide (CO2) is commonly used to give carbonation or fizz to soft drinks, beer, sparkling wine, and other carbonated beverages. Carbonation is accomplished by dissolving CO2 gas under pressure into the beverage, which creates tiny gas bubbles when the pressure is released.
Carbon dioxide is a colorless and odorless gas found in the Earth's atmosphere. It is made up of one carbon atom and two oxygen atoms and is produced as a byproduct of various natural and human activities such as respiration, the combustion of fossil fuels, and natural processes such as volcanic activity and organic matter decomposition. In greenhouses, carbon dioxide is used to boost plant development and yield. Controlled CO2 amounts in the greenhouse can increase yield by up to 30%.
Carbon dioxide is used in many industrial processes, including refrigeration and cooling, as a solvent in the manufacture of chemicals like urea and methanol, and as a cleaning aid in the electronics industry. CO2 is also used in medical procedures such as laparoscopy to inflate the abdomen and make room for the surgeon to work. It is also used in respiratory treatment to assist patients in breathing easier. Carbon dioxide removal (CDR) is the process of removing CO2 from the atmosphere and storing it for extended periods of time. This can be accomplished through a number of means, such as afforestation, ocean fertilization, and direct air capture.
By foam, liquid is the highest revenue contributor and fastest growing segment in the global carbon dioxide market in 2021. Liquid carbon dioxide, or CO2, has a wide range of industrial and commercial applications. Carbon, in the form of carbon dioxide (CO2), is commonly used in its liquid state for various industrial and commercial applications. Liquid carbon dioxide is a colorless, odorless, and non-flammable substance that is typically stored and transported in high-pressure cylinders or tanks. It has a wide range of uses, including as a cooling agent in food processing, a fire extinguishing agent, a medical application for cryotherapy, a shielding gas in welding and metal fabrication, and a fracturing fluid in the oil and gas industry.
By application, medical is the highest revenue contributor and fastest growing segment in the global carbon dioxide market in 2021. Carbon dioxide is a key component of the body's natural respiratory system and plays an important role in regulating the pH balance of the blood. In addition to its physiological functions, carbon dioxide has a wide range of medical applications and is used in various medical procedures and treatments. This article provides an overview of carbon dioxide usage in medicine, including its applications in diagnostic testing, therapeutic procedures, and surgical interventions.
In addition, the report covers profiles of key industry participants such as ACAIL GÁS, Buzwair Industrial Gases Factories, Dubai Industrial Gases, Ellenbarrie industrial Gases, Gulf Cryo, India Glycols Limited, Linde plc, Messer Group, SOL Spa, and Taiyo Nippon Sanso Corporation.
In February 2022, Linde plc (Linde) expanded its existing agreement with Celanese Corporation (Celanese), a global chemical and specialty materials company and started supplying carbon dioxide and hydrogen to the Celanese manufacturing site in Clear Lake, Texas. Linde provides oxygen, nitrogen, and carbon monoxide to the Clear Lake facility. As part of the updated agreement, Linde also provides carbon dioxide that was captured at a nearby facility it owns and operates to produce carbon monoxide. This agreement will increase the demand for the carbon dioxide market across the globe.
In October 2022, SOL Group invested USD 15 million in the development and startup of the liquid food carbon dioxide production facility in Wanze, Belgium. The installation of a new carbon dioxide liquefaction unit at a bioethanol production facility in Wanze, Belgium, allows for the recovery and transformation of a fraction of the gaseous carbon dioxide of biogenic origin into liquid form, containing the emission of the gas that would otherwise be released into the atmosphere. This expansion will increase the growth of the carbon dioxide market.
COVID-19 Analysis on Global Carbon Dioxide Market:
- The COVID-19 pandemic had a major impact on the global economy and the carbon dioxide (CO2) market. The pandemic's effect has been both direct and indirect, with disruptions in supply chains and changes in demand patterns adding to price and availability fluctuations.
- Changes in consumer behavior during the pandemic had an indirect effect on the CO2 market, with a drop in demand for carbonated beverages and a drop in demand for CO2 used in the carbonation process. The pandemic has also raised the demand for medical gases such as oxygen and carbon dioxide, resulting in a shift in production towards medical gases and a reduction in carbon dioxide availability for other uses.
- According to the International Energy Agency (IEA), global energy-related CO2 emissions were flat in 2019 at 33 gigatonnes (Gt), but carbon dioxide levels continued to increase, reaching a record high of 414.72 parts per million in 2021.
- Furthermore, the average CO2 level has risen by 43.5 parts per million (ppm), representing a 12% increase. By reducing the oxygen level in the packaging and replacing it with a mixture of CO2 and nitrogen, MAP can help prolong the shelf life of food products.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the carbon dioxide market analysis from 2021 to 2031 to identify the prevailing carbon dioxide 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 dioxide 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 dioxide market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Form
- Liquid
- Gas
- Solid
By Application
- Food and Beverages
- Oil and Gas
- Medical
- Fire Fighting
- Agriculture
- Metal Fabrication
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Gulf Cryo
- India Glycols Limited
- Linde plc
- SOL Spa
- ACAIL GÁS
- Buzwair Industrial Gases Factories
- Dubai Industrial Gases
- Ellenbarrie Industrial Gases
- Messer Group
- Taiyo Nippon Sanso Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CARBON DIOXIDE MARKET, BY FORM
CHAPTER 5: CARBON DIOXIDE MARKET, BY APPLICATION
CHAPTER 6: CARBON DIOXIDE MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Gulf Cryo
- India Glycols Limited
- Linde plc
- SOL Spa
- ACAIL GÁS
- Buzwair Industrial Gases Factories
- Dubai Industrial Gases
- Ellenbarrie Industrial Gases
- Messer Group
- Taiyo Nippon Sanso Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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