01-Jun-2020 | Facts and Factors
Findings from Facts and Factors report “Carbon Dioxide Market By Source (Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, and Others), and By Application (Food & Beverages, Oil & Gas, Medical, Rubber, Fire Fighting, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global carbon dioxide market in 2019 was approximately USD 7.84 billion. The market is expected to grow at a CAGR of 3.8% and is anticipated to reach around USD 10.17 billion by 2026.
Use of carbon dioxide in cooling applications and cryogenic cooling in food processing applications is one of the major driving factors of the carbon dioxide market. Carbon dioxide adds refrigeration value to food products such as meat, bakery products, and other food products which is crucial to maintain the quality of the food. Also there is a booming demand for carbon dioxide in oil and gas industry for oil recovery. Carbon dioxide can add significant benefits when used for Enhanced Oil Recovery (EOR) and hence driving the carbon dioxide market. However, issues related to transportation of carbon dioxide can hamper the market growth. Pipelines are used majorly for transportation of carbon dioxide but lack of standards governing the pipeline quality can cause issues during transportation.
One of the major source of carbon dioxide is as by product of the reaction of hydrogen production. Variety of process are used for hydrogen production such as microbial biomass conversion, photo electrochemical, solar thermochemical hydrogen, biomass gasification, steam methane reforming, biomass-derived liquid reforming, and electrolytic processes. Major application of carbon dioxide in 2019 was food and beverage market and is anticipated to lead the market in the forecast period. In food and beverage industry, carbon dioxide is majorly used for carbonization of the beverages and industrial grade carbon dioxide is used for maintaining cryogenic temperature of the frozen foods.
Browse the full “Carbon Dioxide Market By Source (Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, and Others), and By Application (Food & Beverages, Oil & Gas, Medical, Rubber, Fire Fighting, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/carbon-dioxide-market-by-source-hydrogen-ethyl-alcohol-1050
North America dominated the carbon dioxide market in 2019 and is anticipated to continue its dominance in the upcoming years. Canada and U.S. were the major contributors towards the North America share. Carbon dioxide is used in oil and gas industry for improved recovery of oil. Carbon dioxide pushes the oil towards the surface of the ground when intense pressure is applied by gas inside pipelines. This also increases oil flow coupled with the reduction in the viscosity of the oil.
Asia Pacific market is anticipated grow at significant fast growth rate in the upcoming years due to the increasing consumption of CO2 in countries such as China and India due to the expansion of the end-user industries in these growing economies. Significant growth in the end user industries such as medical and food and beverages is anticipated to be one of the driving factor for the growth of the carbon dioxide market. The growing oil and gas industry in Middle East and Africa and the increasing demand for the technologies such as Improved Oil Recovery (IOR) and EOR are anticipated to drive the carbon dioxide market in the forecast period.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 7.84 Billion |
Projected Market Size in 2026 |
USD 10.17 Billion |
CAGR Growth Rate |
3.8% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
The Linde Group, INOX Air Products Ltd., Continental Carbonic Products, Inc., Praxair, Inc., Matheson Tri-Gas, Inc., Sicgil India Limited, Air Products and Chemicals, Inc., Universal Industrial Gases, Inc., Airgas, Inc., Air Liquide International S.A., Gulf Cryo, Bristol Gases – Concorde Corodex Group, Dubai Industrial Gases, National Industrial Gas Plants-Mohammed Hamad Al Mana Group, and Others |
Key Segment |
By Source, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the key players of the carbon dioxide market are The Linde Group, INOX Air Products Ltd., Continental Carbonic Products, Inc., Praxair, Inc., Matheson Tri-Gas, Inc., Sicgil India Limited, Air Products and Chemicals, Inc., Universal Industrial Gases, Inc., Airgas, Inc., Air Liquide International S.A., Gulf Cryo, Bristol Gases – Concorde Corodex Group, Dubai Industrial Gases, National Industrial Gas Plants-Mohammed Hamad Al Mana Group, and Others.
This report segments the carbon dioxide market as follows:
By Source Segmentation Analysis
- Hydrogen
- Ethyl Alcohol
- Ethylene Oxide
- Substitute Natural Gas
- Others
By Application Segmentation Analysis
- Food & Beverages
- Oil & Gas
- Medical
- Rubber
- Fire Fighting
- Others
By Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
Rest of Middle East & Africa
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