Carbon Dioxide Market:
GMI Research expects the market to expand at a significant rate during the forecast period. This is mainly due to the increasing enhanced oil recovery (EOR) operations by upstream organizations to maintain their production levels and increasing carbon dioxide use in the oil and gas industry for enhanced oil recovery (EOR), food & beverages and medical industry.
Carbon Dioxide Market’s leading Manufacturers:
- Linde plc
- UIG
- Air Products and Chemicals, Inc.
- Airgas, Inc.
- Praxair, Inc.
- Continental Carbonic Products, Inc.
- Matheson Tri-Gas, Inc.
- Reliant Gases
- Air Liquide
- The Messer Group
Carbon Dioxide Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The increasing use of carbon dioxide for enhanced oil recovery (EOR) in the oil and gas industry, food & beverages industry, and medical industry is a major factor surging the growth of the carbon dioxide market. In the medical sector, the usage of CO2 is drastically rising owing to its use across various applications like minimally invasive surgery, respiratory stimulation, cryotherapy, and stabilizing body cavities. Carbon dioxide is generally used for tissue freezing and tooth sensitivity assessment. Moreover, carbon dioxide also has a large range of applications in the food & beverages industry as it is utilized for the carbonation of beverages by food-grade CO2, poultry, freezing meat, and other food products. This factor is enhancing the demand for the market in the upcoming years. Furthermore, increasing enhanced oil recovery (EOR) operations by upstream organizations to maintain their production levels is propelling the growth of the carbon dioxide market. On the other hand, growing concerns regarding the transportation of carbon dioxide will hamper the growth of the market. Pipelines are mainly used for CO2 transportation, however, the lack of authentication standards related to the quality of pipelines is likely to hinder the market growth. Moreover, the factors restraining the growth of the carbon dioxide market include the high maintenance cost and leakage of CO2 into the atmosphere.
Regional Drivers
On the basis of region, the Asia-Pacific is anticipated to increase at a higher CAGR in the upcoming years owing to the rising consumption of carbon dioxide due to the expansion of end-user industries. China is the leading consumer of carbon dioxide in Asia-Pacific. The continuous rise in the end-use industries, like food & beverages and medical in the emerging countries, such as China, India, and Southeast Asian countries, are propelling the growth of the carbon dioxide market.
Carbon Dioxide Market Segmentation:
Segmentation by Source:
- Hydrogen
- Ethyl Alcohol
- Ethylene Oxide
- Substitute Natural Gas
- Others
Segmentation by Application:
- Food & Beverages
- Oil & Gas
- Medical
- Rubber
- Fertilizer/Agrochemicals
- Metal Manufacturing
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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