0

Carbon Dioxide Market Expected to Reach $148.2 Billion by 2032—Allied Market Research

 
2022
Carbon Dioxide Market

Report Code : A39509

quote The global carbon dioxide market trend is expected to witness high growth potential in coming years due to its extensive use in agriculture, metal fabrication, food and beverages, oil and gas, medical, firefighting, and others. Growth in demand for carbon dioxide from food & beverage industry boost the market growth during the forecast period. However, adverse impacts of carbon dioxide on humans and the environment is projected to hinder the expansion of the market. Nevertheless, a Surge in carbon recycling for renewable materials and energy supply is expected to offer ample growth opportunities for the carbon dioxide market. quote

Yerukola Eswara Prasad - Manager
Materials and Chemicals at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Carbon Dioxide Market," The carbon dioxide market was valued at $79.0 billion in 2020, and is estimated to reach $148.2 billion by 2032, growing at a CAGR of 5.8% from 2023 to 2032.

Introduction

Carbon dioxide (CO2) is a chemical compound made up of one carbon atom and two oxygen atoms. It is a naturally occurring gas that is present in the Earth's atmosphere, and is also produced through various human activities, such as burning fossil fuels and deforestation. CO2 can be captured from industrial processes and power plants and stored underground in geological formations, a process known as carbon capture and storage (CCS), to reduce greenhouse gas emissions.

Carbon dioxide can be used in modified atmosphere packaging (MAP), where the oxygen level is reduced and replaced with a mixture of CO2 and nitrogen to further extend shelf life and maintain the quality of the food. CO2 is also used as a refrigerant in food processing and storage, particularly for frozen foods and ice cream. CO2 is an effective refrigerant and can maintain very low temperatures, making it useful for preserving food quality and reducing the risk of bacterial growth.

Carbon dioxide (CO2) is commonly used in enhanced oil recovery (EOR) to increase the amount of oil that can be extracted from oil reservoirs. EOR techniques are used when traditional oil recovery methods, such as primary and secondary recovery, have been exhausted and additional oil remains in the reservoir. CO2 EOR can be a sustainable method of oil recovery, as the CO2 that is injected into the reservoir can be sourced from industrial processes or captured from power plants and can help to reduce greenhouse gas emissions.

Market Dynamics

Rise in use of carbon dioxide in healthcare industry drives the growth of carbon dioxide market. Carbon dioxide (CO2) has become integral to various medical procedures, spanning diagnostics, therapy, and surgery. Particularly in laparoscopic surgery, a minimally invasive technique, CO2 is employed to expand the abdomen, enhancing surgical visibility and maneuverability without posing explosion risks. Carboxytherapy, involving CO2 injection into skin or subcutaneous tissue, is utilized to bolster circulation, oxygenation, and wound healing while minimizing scar visibility. Additionally, CO2 is utilized in anesthesia alongside oxygen and nitrous oxide to sustain respiratory function, crucial for preventing breathing complications during surgery. Notably, the healthcare industry's growing reliance on CO2 is projected to propel its market growth in the foreseeable future.

Surge in carbon recycling for renewable materials and energy supply provide lucrative opportunities to the market. Carbon recycling is gaining momentum as a crucial strategy to address climate change and foster a sustainable, circular economy. It involves repurposing carbon-based materials instead of disposing of them as waste. This approach not only reduces greenhouse gas emissions but also contributes to the development of renewable materials and energy sources. Carbon capture and utilization (CCU) is another key component, wherein CO2 emissions from industrial processes are captured and utilized to produce chemicals, fuels, and other materials. This not only mitigates the carbon footprint of industries but also generates new revenue streams and products. The growing availability of renewable energy, such as wind and solar power, further enhances the feasibility of producing renewable products through CCU technologies.

Segments Overview

The carbon dioxide market is segmented into form, application, and region. On the basis of form, the market is categorized into solid, liquid, and gas. On the basis of application, the market is divided into agriculture, metal fabrication, food and beverages, oil and gas, medical, firefighting, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Based on form liquid is the fastest-growing segment to the market. Liquid CO2 is commonly used to carbonate soft drinks, beer, and sparkling water. When released from pressure, the liquid CO2 turns into gas, creating the bubbles in the drink. Liquid CO2 is used in fire extinguishers as a non-conductive and non-corrosive agent. It works by displacing oxygen and cooling the fire, effectively suppressing it.

Region Analysis

Based on region Asia-Pacific dominated the carbon dioxide market. As the world's largest emitter of CO2, China's emissions primarily come from its heavy reliance on coal for electricity generation, industrial production, and transportation. However, China has also been investing heavily in renewable energy and implementing policies to reduce emissions.

India is the third-largest emitter of CO2 globally, with emissions primarily stemming from coal-fired power plants, industrial activity, and transportation. India is also investing in renewable energy sources to diversify its energy mix and reduce emissions.

The major players operating in the carbon dioxide market include ACAIL GÁS, Buzwair Industrial Gases Factories, Dubai Industrial Gases, Gulf Cryo, India Glycols Limited, Linde PLC, Messer Group, SOL Group, Axcel Gases, PAVAN INDUSTRIAL GASES PVT. LTD., Coregas, and Air Liquide.

Key Findings of the Study

  • By form, gas segment dominated accounting for more than half of the market share.
  • By application, food and beverage is the most lucrative accounting for one third of the market share.
  • Region wise, Asia-Pacific dominated and fastest growing region representing the CAGR of 6.1%.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Carbon Dioxide Market by Form (Solid, Liquid, Gas), by Application (Food and Beverages, Medical, Fire Fighting, Agriculture, Metal Fabrication, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date May 2024

Pet Insurance Market

Download Sample
rep-img

Published Date May 2024

Forex Brokers Market

Download Sample

Buy Full Version
"Carbon Dioxide Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers