Revenue From Sales Of Carbon Dioxide Market To Surge Exponentially During Forecast Period : Fact.MR

The global carbon dioxide market is worth US$ 1.7 billion in 2022 and is predicted to surge ahead at a CAGR of 8.3% between 2022 and 2032, according to Fact.MR, a market research and competitive intelligence provider. Market growth is riding on the back of remarkable contribution of CO2 to increasing the conductivity and performance of electronic devices.

Demand for food & beverage products is anticipated to register attractive growth as a basic need driven by the rising population and change in food habits due to globalization and exposure of people to various types of food. This demand brings in the need for food that is packaged and transported at modified atmospheres, as these are sourced from distant locations. Industrial gases find significant use for such applications in the food & beverage industry. Highly driven by the growing carbonated drinks market, the demand for carbon dioxide is expected to witness a significant surge over the decade.

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Carbon dioxide liquid for cryogenic freezing and pre- or post-cooling applications to enhance the refrigeration value of food products is a significant, and perhaps key application for CO₂ in some markets where CO₂ is dominant as compared to liquid nitrogen (LIN). Increasing usage of CO₂ in food applications will drive significant growth of the CO₂ market over the coming years.

Segmentation of Carbon Dioxides Industry Research

• By Production :
  • Combustion
  • Biological
• By Delivery :
  • Centralized
  • Pipelines
  • Trucks
  • Cylinders
  • Onsite
• By End Use :
  • Metal Manufacturing & Fabrication
  • Food & Beverages
  • Pulp & Paper
  • Oil & Gas
  • Healthcare
  • Chemicals
  • Other Industrial
• By Region :
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

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Key Companies Profiled

• Linde Group
• Air Liquide
• Praxair Inc
• Air Products and Chemicals Inc
• Gulf Cryo
• Abdullah Hashim Industrial & Equipment Co
• Bristol Gases – Concorde Corodex Group
• Buzwair Industrial Gases Factory
• Dubai Industrial Gases
• Mohsin Haider Darwish LLC
• National Industrial Gas Plants-Mohammed Hamad Al Mana Group
• Yateem Oxygen
• ERCO Worldwide
• Ellenbarrie Industrial Gases Ltd
• Matheson Tri-Gas, Inc
• SICGIL INDIA LIMITED

Key Takeaways from Market Study

• The Global CO₂ market is estimated to expand at a CAGR of 8.3% and reach US$ 3.8 billion by the end of 2032.
• Worldwide demand for CO₂ increased at 4.7% CAGR between 2017 and 2021.
• The global market is led by North America with 28.4% market share in 2022.
• Food and beverage sector will hold dominance as an end use during the assessment period.
• Among the production method, combustion production accounted for the major a market share of 59.6% in 2021.

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Market Development

Market players are focusing on strategic acquisitions as a part of their plans to rapidly expand through organic and inorganic growth strategies. Further, companies are strategizing to develop confidence among distributors and retailers through long associations with skilled marketing and sales representatives across diversified distribution channels.

In addition, digital platforms will also enable market players to reach more customers and increase their brand recognition.