Global CO2 Production Plant Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global CO2 Production Plant Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

CO2 Production plants are based on burning of diesel, natural gas and/or kerosene. This complete & controlled fuel combustion process will generate flue gas with high CO2 content. The generated flue gas shall be washed & cooled first with Caustic Soda Solution in Scrubber / DCC (Direct Contact Cooler). At the next stage, the use of a cold, chemical absorbent MEA (Mono Ethanol Ammine) only recovers CO2 out of the flue gas which is at a later stage released from its absorbent by adding heat and stripping process. The MEA solution is circulating and reused in the process. The released CO2-Gas will be compressed, purified and dried in several defined steps and passes the liquefaction section to become CO2 liquid. Liquid CO2 will then be stored in a CO2-storage tank for further use.

Market Overview:

The latest research study on the global CO2 Production Plant market finds that the global CO2 Production Plant market reached a value of USD 289.48 million in 2022. It’s expected that the market will achieve USD 327.67 million by 2028, exhibiting a CAGR of 2.09% during the forecast period.

Post-Strategies of COVID-19 Outbreak

The US government announced early measures to avoid importing infected people, such as imposing travel restrictions, using coronaviruses to evacuate its citizens from the country, and approving coronavirus detection kits. Manufacturers such as General Motors are producing medical equipment such as ventilators. The US passed an $8.3bn Emergency Coronavirus Response bill on 04 March to combat the spread. States will receive millions of dollars as aid to respond to the coronavirus situation.
The government has established an emergency committee to prevent COVID-19 to assess the situation and take related actions. The government initially allocated 8 billion CFA francs (0.5% of GDP) for emergency pandemic responses, of which 1.9 billion CFA francs (0.1% of GDP) were used for emergency health needs, such as i) establishing test laboratories, including Border crossings; ii) Set up special wards to improve hospitalization and nursing capabilities; iii) Procurement of the most critical medical supplies.
Since then, the government has developed two macroeconomic scenarios with different assumptions about the depth and duration of the pandemic. It identified non-essential expenditures that could be reduced to create space for pandemic-related expenditures, including a package of social relief for affected families and measures to prevent permanent damage to the Afghan economy.
On April 5, the total number of coronavirus cases diagnosed in Germany exceeded 100,000. Given the importance of COVID-19 to public health, economic consequences and personal well-being, the German government has decided to act like many other countries around the world. Since March 13, schools and nurseries have been closed, and large-scale sports events are prohibited. On March 22, the government and federal states agreed to ban meetings of more than two people, and banned services such as restaurants and hairdressers. Some states have implemented broader blockade measures.
China’s first phase of public health response to COVID-19 focused on short-term measures to prevent the virus from spreading from Hubei to other parts of the country and the general population. School closures, traffic bans and workplace shutdowns helped limit the spread of COVID-19. With the phasing out of these temporary containment measures, the next phase of the public health response focuses on reducing the risk of COVID-19 in the general population over the long term. This means finding ways to include infection prevention and control as part of daily work for everyone in all environments.

Market Challenges/Risks

The harmful impact of carbon dioxide on the environment has resulted in the formulation of various government regulations globally. The rising concerns regarding the harmful impact of carbon emissions have encouraged carbon-pricing initiatives in several countries of the world. These regulations help limit the emissions into the atmosphere. A rise in carbon emissions has led some countries to opt for CCS to limit their carbon footprint. However, the high cost of CCS technology is among the key restraint for the market.
Rising environmental and climate mitigation pressures mean that more and more companies are looking for flexible and cost-efficient solutions to improve their carbon footprint. CO2 emitters like power companies want to avoid CO2 emissions. Also in other industries relatively concentrated streams of CO2 occur inevitable. Re-utilisation of CO2 is improving the carbon footprint.
The COVID-19 pandemic has adversely affected the market growth owing to factors, such as strict social distancing norms and lockdowns in various countries around the world. This has resulted in a reduction in demand for oil & gas as well as the shutting down of industries, such as automobile, semiconductor, and consumer electronics, which affected the demand for carbon dioxide from these end users. The COVID-19 pandemic has resulted in a dip in the supply of carbon dioxide, which is made from ethyl alcohol manufacturing. In 2020, ethyl alcohol plants in the U.S. had curbed production due to falling demand for ethanol due to strict lockdown in the country. This will have a certain negative impact on the CO2 production plant in the short term.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Linde is one of the major players operating in the CO2 Production Plant market, holding a share of 38.58% in 2021.

Linde is an international industrial gas and engineering company that offers oxygen, nitrogen, argon, rare gases, carbon dioxide, hydrogen, helium, electronic and specialty gases, acetylene, and carbon monoxide. The company also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, hydrogen and synthesis gas, and other plants. Linde was founded in 1879 and is based in Guildford, United Kingdom.

Linde is firmly committed to supporting its customers and communities through the unprecedented COVID-19 pandemic. Linde’s global, regional and local response teams are ensuring continue to safely and efficiently deliver industrial gases to customers. Through Linde’s Global Giving Program and businesses around the world, the company has donated more than $2MM in cash and in-kind gifts to provide relief for hospitals, healthcare facilities and affected communities.

In addition, Linde is prioritizing the supply of oxygen and essential medical gases in order to support hospitals, doctors, nurses and medical professionals as they care for patients with COVID-19. Linde is increasing the amount of oxygen production at air separation units, where needed, and is working very closely with local healthcare providers to anticipate demand and increase deliveries.
Linde has a strong track record of successfully navigating challenging times and is working closely with all stakeholders. Linde is proud of the work the employees are doing around the world and continue to put the safety, health and wellbeing of employees, customers and communities at the forefront of all Linde do.

Union Engineering has CO2 technology for beverage, industrial gases, oil & gas and desalination industries world-wide. We have 6 global offices including service force. As an established leader in carbon dioxide management and recovery with its Haffmans brand, the addition of Union Engineering's technologies and service capabilities reinforces and expands Pentair's offerings within the Industrial Gas, Food & Beverage and Biogas Upgrading sectors.

Segmentation Overview:

Among different product types, Medium-Purity Liquefied Carbon Dioxide Plants segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Chemical Industry segment occupied the biggest share from 2018 to 2022.

Key Companies in the global CO2 Production Plant market covered in Chapter 3:

Linde
HANGZHOU KUAIKAI HI-TECH CO., LTD
ASCO CARBON DIOXIDE
MOS Techno Engineers
Union Engineering
COMTECSWISS GmbH
Universal Industrial Gases

In Chapter 4 and Chapter 14.2, on the basis of types, the CO2 Production Plant market from 2018 to 2029 is primarily split into:

2N
2N-4N
Above 4N

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the CO2 Production Plant market from 2018 to 2029 covers:

Metals Industry
Food and Beverages
Health Care and Pharmaceuticals

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)