Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Carbon Dioxide Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Are the Key Forecast Insights for the Carbon Dioxide Market Growth?
The carbon dioxide market has seen robust growth in the past. Its size expanded from $9.72 billion in 2024 to $10.52 billion in 2025, with an 8.2% compound annual growth rate (CAGR).
What Is the Predicted Industry Size and CAGR of the Carbon Dioxide Market in 2029?
In 2029, the carbon dioxide market is projected to reach a value of $15.1 billion, with a compound annual growth rate (CAGR) of 9.5%.
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Which Factors Are Driving Growth in the Carbon Dioxide Market?
The key Drivers in the carbon dioxide market are:
• Rising demand for firefighting services
• Wide usage of carbon dioxide in fire suppression systems
• Utilization of carbon dioxide to displace oxygen and prevent combustion
• Efforts to reduce the risk and damage of fire accidents
Which Segment Trends Are Covered in the Carbon Dioxide Market Forecast?
The carbon dioxidemarket 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 And Beverages, Oil And Gas, Medical, Rubber, Fire Fighting, Chemicals, Metal Products, Other Applications
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What Are the Current Market Trends in the Carbon Dioxide Industry?
The key trends in the carbon dioxide market are:
• The increasing use of advanced carbon capture and storage (CCS) technologies by carbon dioxide manufacturers is a key emerging trend.
• The method of capturing carbon dioxide at its emission source and storing it away is gaining traction.
• The use of CCS technologies in trapping about 90% of carbon dioxide emissions from fossil fuel use reveals a significant trend in the market.
• The adoption of effective strategies to prevent carbon dioxide from entering the environment is also an emerging trend.
Who are the Key Companies in the Carbon Dioxide Market?
The key players in the carbon dioxide market are:
• 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.
• 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
What are the Regional Trends Across the Carbon Dioxide Market?
Asia-Pacific was the largest region in the carbon dioxide market in 2024
