Global Carbon Dioxide Market Size 2024, Forecast To 2033
11 Mar, 2024
The carbon dioxide market size has experienced substantial growth, climbing from $15.13 billion in 2023 to $17.32 billion in 2024, marking a noteworthy compound annual growth rate (CAGR) of 14.5%. This growth in the historic period is linked to the expansion of emerging markets and heightened demand from the medical industry. Projections for 2028 indicate a continued rapid growth, reaching $29.05 billion with a CAGR of 13.8%. Anticipated growth in the forecast period can be attributed to the increasing demand for frozen food and the expanding needs of the oil and gas industry. Key trends in this period involve the development of carbon dioxide separation technology, a focus on carbon capture and utilization, catering to greenhouse needs, and considerations of mergers or acquisitions to augment market share.
Global Carbon Dioxide Market Key Driver
The carbon dioxide market is anticipated to experience growth driven by the rising demand for firefighting. As firefighting activities become more crucial in managing emergency situations involving fires and protecting life, property, and the environment, carbon dioxide plays a pivotal role as a firefighting agent. Widely used in specialized fire suppression systems, carbon dioxide displaces oxygen and diminishes one of the combustion elements, reducing the risk of fire accidents and minimizing damage. Notably, in June 2023, the National Fire Protection Association reported an increase in firefighter and volunteer deaths in 2022, emphasizing the vital role of firefighting in the growing demand for carbon dioxide and its applications in fire safety.
Get A Free Sample Of The Global Carbon Dioxide Market ReportGlobal Carbon Dioxide Market Segments
The carbon dioxide market covered in this report is segmented –
1) By Product Type: Liquid Carbon Dioxide, Solid Carbon Dioxide, Gaseous Carbon Dioxide
2) By Grade Type: Medical Grade, Food Grade, Industrial Grade, Other Grade
3) By Application: Food & Beverages, Oil & Gas, Medical, Rubber, Fire Fighting, Chemicals, Metal Products, Other Applications
By Geography:The regions covered in the carbon dioxide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
Asia-Pacific was the largest region in the carbon dioxide market in 2023. North America was the second-largest region in the global carbon dioxide market. The regions covered in the carbon dioxide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Carbon Dioxide Industry Players
Linde PLC, Air Products and Chemical, Inc., Air Liquide, The Messer Group GmbH, Nippon Sanso Holdings Corporation, Air Water Inc, Gulf Cryo, SOL Spa, Reliant Gases, India Glycols Limited, Praxair Inc., NGK Spark Plug Co., Ltd., Taiyo Nippon Sanso, Oxair, Yingde Gas Group Co., Ltd., Core Industrial Gases, Supagas, AMCS Corporation, Gagan Gases Ltd, Refex Industries, BOC UK, Altex, Climeworks AG, Carbon Clean, GRASYS, Continental Carbonic Products, Inc., Matheson Tri-Gas, Messer Gases del Peru S.A., WIKA Alexander Wiegand SE & Co. KG, Buzwair, Sasol, Gas Africa Limited, Carbacid Investments Limited, Afrox
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Carbon Dioxide Market Overview
Carbon dioxide is a colorless chemical element that is a product of both fermentation and combustion. It is widely used in the food industry for applications such as removing the caffeine from coffee beans to make decaffeinated coffee and for carbonating beer, and soft drinks. It is also used for cooling in the food and manufacturing industries.
Carbon Dioxide Global Market Report 2023 provides data on the global carbon dioxide market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The carbon dioxide market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.