Carbon Dioxide Market Share, Size, Trends, Industry Analysis Report, By Source (Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, Others); By Application; By Region; Segment Forecast, 2023 - 2032

Carbon Dioxide Market Share, Size, Trends, Industry Analysis Report, By Source (Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, Others); By Application; By Region; Segment Forecast, 2023 - 2032



The global carbon dioxide market size is expected to reach USD 14.66 billion by 2032, according to a new study by Polaris Market Research. The report “Carbon Dioxide Market Share, Size, Trends, Industry Analysis Report, By Source (Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, Others); By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing global demand for food and beverages primarily drives the market. Food product consumption, production, and distribution rely on solid or liquid CO2 for surface freezing, quick freezing, and refrigeration during transportation and shipping. Additionally, CO2 gas plays a crucial role in the carbonation process of beverages such as beers, soft drinks, and wine, as it acts as a preservative by inhibiting fungal and bacterial growth.

Another significant factor contributing to the market's growth is its rising demand in the oil and gas industry. CO2 is extensively used in oil wells to facilitate oil extraction and maintain pressure within the formation. When pumped into an oil well, CO2 partially dissolves into the oil, making it easier to extract from the bedrock.

These applications, among others, have positioned the CO2 market for substantial expansion in the foreseeable future. As the global focus on sustainability and environmental responsibility intensifies, the demand for CO2-related products and services is expected to increase. Moreover, advancements in technology and innovative solutions for capturing, utilizing, and storing CO2 are driving further growth in the market.

Despite the positive outlook, challenges persist in the CO2 market. The costs associated with carbon capture and storage technologies remain high, hindering widespread adoption. Additionally, regulatory frameworks and public perception of CO2 utilization must be addressed to foster market growth.

The carbon dioxide (CO2) market is experiencing notable trends driven by the need to mitigate climate change and reduce greenhouse gas emissions. One significant trend is the increasing focus on carbon capture, utilization, and storage (CCUS) as industries and power generation facilities invest in technologies that capture and utilize or store CO2 emissions. This emphasis on CCUS aims to contribute to reducing CO2 in the atmosphere.

The growing demand for CO2 in enhanced oil recovery (EOR) techniques. CO2 is extensively used to enhance oil production from mature oil fields, and companies are seeking to maximize oil recovery and extend the life of existing reservoirs. This demand for CO2 in EOR applications is expected to rise in the coming years.

Furthermore, there is a shift towards sustainable and low-carbon applications of CO2, where industries explore its use as a feedstock for producing chemicals, fuels, and building materials. This shift aligns with sustainability goals and promotes a circular economy, reducing reliance on fossil fuels. Technological advancements, government regulations, and international collaborations also play key roles in shaping the CO2 market, driving innovation, promoting cleaner technologies, and facilitating global efforts to address climate change.

Carbon Dioxide Market Report Highlights

Ethyl alcohol segment is anticipated to hold the largest shares of the market, due to government initiatives supporting global ethanol production, which emits CO2 as a by-product.

Food and beverage segment anticipated to hold significant market share during forecast period, due to CO2 has broad applications in adding carbonation to beverages, refrigerating food during transportation, and preserving packaged food by inhibiting bacterial growth.

North America holds the largest market revenue shares in 2022, CO2's diverse applications in the food and beverage industry and the oil and gas sector, combined with growing consumer consumption and spending on packaged food products, drive the region's significant demand for carbon dioxide.

The global key market players include ACAIL Gas, AGA AB, Air Liquide, Air Products & Chemicals, Inc., Airgas, Inc., Gulf Cryo, Inox Air Products Ltd., Linde AG, Matheson Tri-Gas, Inc., Messer, National Industrial Gases Company, and Praxair, Inc.

Polaris Market Research has segmented the Carbon Dioxide market report based on source, application, and region:

Carbon Dioxide, Type Outlook (Revenue - USD Billion, 2019 - 2032)

Hydrogen

Ethyl Alcohol

Ethylene Oxide

Substitute Natural Gas

Others

Carbon Dioxide, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Food & Beverages

Oil & Gas

Medical

Rubber

Firefighting

Others

Carbon Dioxide, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa


1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. Global Carbon Dioxide Market Insights
4.1. Carbon Dioxide Market – Industry Snapshot
4.2. Carbon Dioxide Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Environmental regulations and climate change mitigation
4.2.1.2. Rising demand for carbon capture and utilization technologies
4.2.2. Restraints and Challenges
4.2.2.1. Challenges in carbon capture and utilization technology adoption
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTLE Analysis
4.5. Carbon Dioxide Industry trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Carbon Dioxide Market, by Source
5.1. Key Findings
5.2. Introduction
5.2.1. Global Carbon Dioxide, by Source, 2019-2032 (USD Billion)
5.3. Hydrogen
5.3.1. Global Carbon Dioxide Market, by Hydrogen, by Region, 2019-2032 (USD Billion)
5.4. Ethyl Alcohol
5.4.1. Global Carbon Dioxide Market, by Ethyl Alcohol, by Region, 2019-2032 (USD Billion)
5.5. Ethylene Oxide
5.5.1. Global Carbon Dioxide Market, by Ethylene Oxide, by Region, 2019-2032 (USD Billion)
5.6. Substitute Natural Gas
5.6.1. Global Carbon Dioxide Market, by Substitute Natural Gas, by Region, 2019-2032 (USD Billion)
5.7. Others
5.7.1. Global Carbon Dioxide Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global Carbon Dioxide Market, by Application
6.1. Key Findings
6.2. Introduction
6.2.1. Global Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
6.3. Food & Beverages
6.3.1. Global Carbon Dioxide Market, by Food & Beverages, by Region, 2019-2032 (USD Billion)
6.4. Oil & Gas
6.4.1. Global Carbon Dioxide Market, by Oil & Gas, by Region, 2019-2032 (USD Billion)
6.5. Medical
6.5.1. Global Carbon Dioxide Market, by Medical, by Region, 2019-2032 (USD Billion)
6.6. Rubber
6.6.1. Global Carbon Dioxide Market, by Rubber, by Region, 2019-2032 (USD Billion)
6.7. Firefighting
6.7.1. Global Carbon Dioxide Market, by Firefighting, by Region, 2019-2032 (USD Billion)
6.4. Others
6.4.1. Global Carbon Dioxide Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Carbon Dioxide Market, by Geography
7.1. Key findings
7.2. Introduction
7.2.1. Carbon Dioxide Market Assessment, By Geography, 2019-2032 (USD Billion)
7.3. Carbon Dioxide Market – North America
7.3.1. North America: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.3.2. North America: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.3.3. Carbon Dioxide Market – U.S.
7.3.3.1. U.S.: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.3.3.2. U.S.: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.3.4. Carbon Dioxide Market – Canada
7.3.4.1. Canada: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.3.4.2. Canada: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.4. Carbon Dioxide Market – Europe
7.4.1. Europe: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.4.2. Europe: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.4.3. Carbon Dioxide Market – UK
7.4.3.1. UK: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.4.3.2. UK: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.4.4. Carbon Dioxide Market – France
7.4.4.1. France: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.4.4.2. France: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.4.5. Carbon Dioxide Market – Germany
7.4.5.1. Germany: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.4.5.2. Germany: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.4.6. Carbon Dioxide Market – Italy
7.4.6.1. Italy: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.4.6.2. Italy: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.4.7. Carbon Dioxide Market – Spain
7.4.7.1. Spain: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.4.7.2. Spain: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.4.8. Carbon Dioxide Market – Netherlands
7.4.8.1. Netherlands: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.4.8.2. Netherlands: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.4.9. Carbon Dioxide Market – Russia
7.4.9.1. Russia: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.4.9.2. Russia: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.5. Carbon Dioxide Market – Asia Pacific
7.5.1. Asia Pacific: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.5.2. Asia Pacific: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.5.3. Carbon Dioxide Market – China
7.5.3.1. China: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.5.3.2. China: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.5.4. Carbon Dioxide Market – India
7.5.4.1. India: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.5.4.2. India: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.5.5. Carbon Dioxide Market – Malaysia
7.5.5.1. Malaysia: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.5.5.2. Malaysia: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.5.6. Carbon Dioxide Market – Japan
7.5.6.1. Japan: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.5.6.2. Japan: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.5.7. Carbon Dioxide Market – Indonesia
7.5.7.1. Indonesia: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.5.7.2. Indonesia: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.5.8. Carbon Dioxide Market – South Korea
7.5.8.1. South Korea: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.5.8.2. South Korea: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.6. Carbon Dioxide Market – Middle East & Africa
7.6.1. Middle East & Africa: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.6.2. Middle East & Africa: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.6.3. Carbon Dioxide Market – Saudi Arabia
7.6.3.1. Saudi Arabia: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.6.3.2. Saudi Arabia: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.6.4. Carbon Dioxide Market – UAE
7.6.4.1. UAE: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.6.4.2. UAE: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.6.5. Carbon Dioxide Market – Israel
7.6.5.1. Israel: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.6.5.2. Israel: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.6.6. Carbon Dioxide Market – South Africa
7.6.6.1. South Africa: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.6.6.2. South Africa: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.7. Carbon Dioxide Market – Latin America
7.7.1. Latin America: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.7.2. Latin America: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.7.3. Carbon Dioxide Market – Mexico
7.7.3.1. Mexico: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.7.3.2. Mexico: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.7.4. Carbon Dioxide Market – Brazil
7.7.4.1. Brazil: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.7.4.2. Brazil: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
7.7.5. Carbon Dioxide Market – Argentina
7.7.5.1. Argentina: Carbon Dioxide Market, by Application, 2019-2032 (USD Billion)
7.7.5.2. Argentina: Carbon Dioxide Market, by Source, 2019-2032 (USD Billion)
8. Competitive Landscape
8.1. Expansion and Acquisition Analysis
8.1.1. Expansion
8.1.2. Acquisitions
8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
9.1. ACAIL Gas
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Recent Development
9.2. AGA AB
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Recent Development
9.3. Air Liquide
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Recent Development
9.4. Air Products & Chemicals, Inc.
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Recent Development
9.5. Airgas, Inc.
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Recent Development
9.6. Gulf Cryo
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Recent Development
9.7. Inox Air Products Ltd.
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Recent Development
9.8. Linde AG
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Recent Development
9.9. Matheson Tri-Gas, Inc.
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Recent Development
9.10. Messer
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Recent Development
9.11. National Industrial Gases Company
9.11.1. Company Overview
9.11.2. Financial Performance
9.11.3. Product Benchmarking
9.11.4. Recent Development
9.12. Praxair, Inc.
9.12.1. Company Overview
9.12.2. Financial Performance
9.12.3. Product Benchmarking
9.12.4. Recent Development
9.13. Sicgil India Ltd.
9.13.1. Company Overview
9.13.2. Financial Performance
9.13.3. Product Benchmarking
9.13.4. Recent Development
9.14. SOL Group
9.14.1. Company Overview
9.14.2. Financial Performance
9.14.3. Product Benchmarking
9.14.4. Recent Development
9.15. Strandmøllen A/S
9.15.1. Company Overview
9.15.2. Financial Performance
9.15.3. Product Benchmarking
9.15.4. Recent Development
9.16. Taiyo Nippon Sanso Corp.
9.16.1. Company Overview
9.16.2. Financial Performance
9.16.3. Product Benchmarking
9.16.4. Recent Development
9.17. The BOC Group
9.17.1. Company Overview
9.17.2. Financial Performance
9.17.3. Product Benchmarking
9.17.4. Recent Development
9.18. Universal Industrial Gases, Inc.
9.17.1. Company Overview
9.17.2. Financial Performance
9.17.3. Product Benchmarking
9.17.4. Recent Development

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