Carbon Monoxide Market Size, Share & Trends Analysis Report by Application (Chemical, Metal Fabrication, Electronics, Pharma & Biotechnology, Meat & Coloring Preservative), and Region (North America, Europe) with Growth Forecasts, 2025-2030

The Carbon Monoxide Market was valued at USD 5.42 billion in 2024, and is projected to reach USD 6.97 billion by 2030, rising at a CAGR of 4.30%. The carbon monoxide market is expected to grow as carbon monoxide is primarily used in metal extraction, chemical production, and as a reducing agent in various industrial processes, which drives demand across sectors such as metallurgy and pharmaceuticals.

Chemical segments are crucial in the carbon monoxide market due to their various applications in producing chemicals. Carbon monoxide is essential in processes such as the hydroformylation of alkenes, which produces aldehydes, and in the synthesis of methanol, a key precursor for many chemical products. Additionally, carbon monoxide is used in producing phosgene, a compound vital for manufacturing isocyanates and polyurethanes. This highlights its significance in bulk chemicals manufacturing and industrial applications.

The Asia Pacific carbon monoxide market is projected to remain at the forefront of the market due to growing consumption, particularly in industrial applications such as metal fabrication and chemical manufacturing. Carbon monoxide plays a vital role in various chemical processes, including producing methanol and other chemicals, further reinforcing its importance in the region's industrial landscape.

Some of the prominent players in the carbon monoxide market include Air Liquide, Linde plc, Air Products and Chemicals, Inc., Celanese Corporation, Messer, MESA Specialty Gases & Equipment, Sipchem Company, Axcel Gases, Praxair Inc., and American Gas Products

Carbon Monoxide Market Report Highlights

Based on application, the chemical segment dominated the market with a revenue share of 18.2% in 2024. The chemical segment plays a crucial role in the carbon monoxide market because it produces essential compounds. Carbon monoxide is primarily used in hydroformylation to create aldehydes and in methanol synthesis, which serves as a precursor for various chemicals. Additionally, carbon monoxide is used in producing phosgene, a key component in manufacturing isocyanates and polyurethanes, underscoring its significance in bulk chemical production.
Based on region, Asia Pacific is the dominant region for the aluminum hydroxide market, with a revenue share of 47.0% in 2024. The region is anticipated to dominate the market due to rising consumption fueled by industrial applications, especially in metal fabrication and chemical manufacturing. In industrial applications, carbon monoxide plays a vital role in chemical processes, such as producing methanol and various other chemicals, reinforcing its importance in the region's industrial landscape.
In May 2023, Air Products announced its plans to construct and operate two new carbon monoxide (CO) production facilities in Texas, one in La Porte and the other in Texas City, collectively producing over 70 million standard cubic feet per day (MMSCFD) of CO. The La Porte facility, set to be operational in 2024, will supply more than 30 MMSCFD to LyondellBasell, while the Texas City facility will come online in 2026, producing over 40 MMSCFD for Eastman Chemical Company. These facilities will integrate with Air Products' Gulf Coast CO pipeline network, enhancing supply reliability for regional customers.

This report addresses:

Market intelligence to enable effective decision-making.
Market estimates and forecasts from 2018 to 2030.
Growth opportunities and trend analyses.
Segment and regional revenue forecasts for market assessment.
Competition strategy and market share analysis.
Product innovation listings for you to stay ahead of the curve.
COVID-19's impact and how to sustain in this fast-evolving market.

Why Should You Buy This Report?

Comprehensive Market Analysis: Gain detailed insights into the market across major regions and segments.
Competitive Landscape: Explore the market presence of key players.
Future Trends: Discover the pivotal trends and drivers shaping the future of the market.
Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This product will be delivered within 1-3 business days.

Chapter 1. Methodology and Scope

1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Information Analysis
1.3.2. Market Formulation & Data Visualization
1.3.3. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources

Chapter 2. Executive Summary

2.1. Market Snapshot
2.2. Segmental Outlook
2.3. Competitive Outlook

Chapter 3. Market Variables, Trends, and Scope

3.1. Global Carbon Monoxide Market Outlook
3.2. Value Chain Analysis
3.2.1. Raw Material Outlook
3.2.2. Manufacturing/Derivative Outlook
3.2.3. Sales Channel Analysis
3.3. Price Trend Analysis
3.3.1. Factors Influencing Prices
3.4. Regulatory Framework
3.4.1. Standards & Compliances
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Market Challenges Analysis
3.5.4. Market Opportunity Analysis
3.6. Porter’s Five Forces Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of Substitution
3.6.4. Threat of New Entrants
3.6.5. Competitive Rivalry
3.7. PESTLE Analysis
3.7.1. Political
3.7.2. Economic
3.7.3. Social Landscape
3.7.4. Derivative
3.7.5. Environmental
3.7.6. Legal

Chapter 4. Carbon Monoxide Market: Application Estimates & Trend Analysis

4.1. Carbon Monoxide Market: Application Movement Analysis, 2023 & 2030
4.2. Chemical
4.2.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
4.3. Metal Fabrication
4.3.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
4.4. Electronics
4.4.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
4.5. Pharma & Biotechnology
4.5.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
4.6. Meat Coloring & Preservative
4.6.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
4.7. Other Applications
4.7.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)

Chapter 5. Carbon Monoxide Market: Regional Estimates & Trend Analysis

5.1. Regional Analysis, 2023 & 2030
5.2. North America
5.2.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.2.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.2.3. U.S.
5.2.3.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.2.3.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.2.4. Canada
5.2.4.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.2.4.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.2.5. Mexico
5.2.5.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.2.5.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.3. Europe
5.3.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.3.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.3.3. Germany
5.3.3.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.3.3.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.3.4. UK
5.3.4.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.3.4.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.3.5. France
5.3.5.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.3.5.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.3.6. Italy
5.3.6.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.3.6.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.3.7. Spain
5.3.7.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.3.7.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.4. Asia Pacific
5.4.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.4.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.4.3. China
5.4.3.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.4.3.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.4.4. India
5.4.4.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.4.4.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.4.5. Japan
5.4.5.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.4.5.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.4.6. South Korea
5.4.6.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.4.6.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.5. Latin America
5.5.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.5.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.5.3. Brazil
5.5.3.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.5.3.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.5.4. Argentina
5.5.4.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.5.4.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.6. Middle East & Africa
5.6.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.6.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.6.3. Saudi Arabia
5.6.3.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.6.3.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)
5.6.4. South Africa
5.6.4.1. Market estimates and forecasts, 2018-2030 (Kilotons) (USD Million)
5.6.4.2. Market estimates and forecasts, by application, 2018-2030 (Kilotons) (USD Million)

Chapter 6. Competitive Landscape

6.1. Recent Developments by Key Market Participants
6.2. Company Categorization
6.3. Company Heat Map Analysis
6.4. Company Market Positioning Analysis, 2024
6.5. Strategy Mapping
6.6. Company Profiles/Listing
6.6.1. Air Liquide
6.6.1.1. Company Overview
6.6.1.2. Financial Performance
6.6.1.3. Derivative Benchmarking
6.6.2. Air Products and Chemicals, Inc.
6.6.2.1. Company Overview
6.6.2.2. Financial Performance
6.6.2.3. Derivative Benchmarking
6.6.3. Celanese Corporation
6.6.3.1. Company Overview
6.6.3.2. Financial Performance
6.6.3.3. Derivative Benchmarking
6.6.4. Messer
6.6.4.1. Company Overview
6.6.4.2. Financial Performance
6.6.4.3. Derivative Benchmarking
6.6.5. Sipchem Company
6.6.5.1. Company Overview
6.6.5.2. Financial Performance
6.6.5.3. Derivative Benchmarking
6.6.6. Praxair Inc.
6.6.6.1. Company Overview
6.6.6.2. Financial Performance
6.6.6.3. Derivative Benchmarking
6.6.7. Linde plc
6.6.7.1. Company Overview
6.6.7.2. Financial Performance
6.6.7.3. Derivative Benchmarking
6.6.8. MESA Specialty Gases & Equipment
6.6.8.1. Company Overview
6.6.8.2. Financial Performance
6.6.8.3. Derivative Benchmarking
6.6.9. Axcel Gases
6.6.9.1. Company Overview
6.6.9.2. Financial Performance
6.6.9.3. Derivative Benchmarking
6.6.10. Ganesh Benzoplast
6.6.10.1. Company Overview
6.6.10.2. Financial Performance
6.6.10.3. Derivative Benchmarking

List of Tables

Table 1 Carbon Monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 2 Carbon Monoxide market estimates & forecasts, by chemical, 2018-2030 (Kilotons) (USD Million)
Table 3 Carbon Monoxide market estimates & forecasts, by metal fabrication, 2018-2030 (Kilotons) (USD Million)
Table 4 Carbon Monoxide market estimates & forecasts, by electronics, 2018-2030 (Kilotons) (USD Million)
Table 5 Carbon Monoxide market estimates & forecasts, by pharma & biotechnology, 2018-2030 (Kilotons) (USD Million)
Table 6 Carbon Monoxide market estimates & forecasts, by meat coloring & preservative, 2018-2030 (Kilotons) (USD Million)
Table 7 Carbon Monoxide market estimates & forecasts, by other applications, 2018-2030 (Kilotons) (USD Million)
Table 8 Carbon Monoxide market estimates & forecasts, 2018-2030 (USD Million)
Table 9 Carbon Monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 10 Carbon Monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 11 North America polyurethane Coatings market estimates & forecast, 2018-2030 (Kilotons) (USD Million)
Table 12 North America carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 13 North America carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 14 U.S. carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 15 U.S. carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 16 U.S. carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 17 Canada carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 18 Canada carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 19 Canada carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 20 Mexico carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 21 Mexico carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 22 Mexico carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 23 Europe carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 24 Europe carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 25 Europe carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 26 Germany carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 27 Germany carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 28 Germany carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 29 UK carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 30 UK carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 31 UK carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 32 France carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 33 France carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 34 France carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 35 Italy carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 36 Italy carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 37 Italy carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 38 Spain carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 39 Spain carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 40 Spain carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 41 Asia pacific carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 42 Asia pacific carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 43 Asia pacific carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 44 China carbon monoxide market estimates & forecast, 2018-2030 (Kilotons) (USD Million)
Table 45 China carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 46 China carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 47 India carbon monoxide market estimates & forecast, 2018-2030 (Kilotons) (USD Million)
Table 48 India carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 49 India carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 50 Japan carbon monoxide market estimates & forecast, 2018-2030 (Kilotons) (USD Million)
Table 51 Japan carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 52 Japan carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 53 South Korea carbon monoxide market estimates & forecast, 2018-2030 (Kilotons) (USD Million)
Table 54 South Korea carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 55 South Korea carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 56 Latin America carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 57 Latin America carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 58 Latin America carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 59 Brazil carbon monoxide market estimates & forecast, 2018-2030 (Kilotons) (USD Million)
Table 60 Brazil carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 61 Brazil carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 62 Argentina carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 63 Argentina carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 64 Argentina carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 65 Middle East & Africa carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 66 Middle East & Africa carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 67 Middle East & Africa carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 68 Saudi Arabia carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 69 Saudi Arabia carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 70 Saudi Arabia carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)
Table 71 South Africa carbon monoxide market estimates & forecasts, 2018-2030 (Kilotons) (USD Million)
Table 72 South Africa carbon monoxide market estimates & forecasts by application, 2018-2030 (Kilotons)
Table 73 South Africa carbon monoxide market estimates & forecasts by application, 2018-2030 (USD Million)

List of Figures

Figure 1 Market segmentation
Figure 2 Information procurement
Figure 3 Data analysis models
Figure 4 Market formulation and validation
Figure 5 Data validating & publishing
Figure 6 Market snapshot
Figure 7 Segmental outlook - Application & Derivative
Figure 8 Competitive Outlook
Figure 9 Carbon Monoxide market outlook, 2018-2030 (Kilotons) (USD Million)
Figure 10 Value chain analysis
Figure 11 Market dynamics
Figure 12 Porter’s Analysis
Figure 13 PESTEL Analysis
Figure 14 Carbon Monoxide market, by application: Key takeaways
Figure 15 Carbon Monoxide market, by application: Market share, 2023 & 2030
Figure 16 Carbon Monoxide market: Regional analysis, 2023
Figure 17 Carbon Monoxide market, by region: Key takeaways

Companies Mentioned

The major companies profiled in this Carbon Monoxide market report include:

Air Liquide
Linde plc
Celanese Corporation
Messer
MESA Specialty Gases & Equipment
Sipchem Company
Axcel Gases
Praxair Inc.
Air Products and Chemicals, Inc.
American Gas Products

Methodology

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Table Information

Report Attribute	Details
No. of Pages	80
Published	February 2025
Forecast Period	2024 - 2030
Estimated Market Value ( USD ) in 2024	$ 5.42 Billion
Forecasted Market Value ( USD ) by 2030	$ 6.97 Billion
Compound Annual Growth Rate	4.3%
Regions Covered	Global
No. of Companies Mentioned	11

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Carbon Monoxide Market Report Highlights

This report addresses:

Why Should You Buy This Report?

Table of Contents

Companies Mentioned

Methodology

Table Information

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