Carbon Dioxide Market Size, Share, and Outlook, 2025 Report- By Source (Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, Others), By Form (Solid, Liquid, Gas), By Application (Food & Beverages, Oil & Gas, Medical, Rubber, Firefighting, Oth

Carbon Dioxide Market Outlook

Carbon Dioxide Market Size is forecast to reach $16.6 Billion in 2032 from $11.2 Billion in 2025, at an optimistic growth rate of 5.8% from 2025 to 2032. The robust Carbon Dioxide Market growth presents potential growth opportunities for companies across the industry value chain.

The comprehensive market research report presents 12-year historic and forecast data on Carbon Dioxide Market segments across 22 countries from 2021 to 2032. Key segments in the report include By Source (Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, Others), By Form (Solid, Liquid, Gas), By Application (Food & Beverages, Oil & Gas, Medical, Rubber, Firefighting, Others). Over 70 tables and charts showcase findings from our latest survey report on Carbon Dioxide Markets.

Carbon Dioxide Market Insights, 2025: Carbon Dioxide Market – Key Drivers and Opportunities

The carbon dioxide (CO₂) market is experiencing substantial growth, driven by its diverse applications in food and beverage, healthcare, oil recovery, chemical manufacturing, and industrial processes. The increasing demand for carbonated beverages, where CO₂ is used for fizz and preservation, remains a key market driver, particularly in Asia-Pacific and North America, where soft drinks and sparkling water consumption are high.

The medical and healthcare sector is another major consumer, with medical-grade CO₂ used in minimally invasive surgeries (laparoscopy, endoscopy), respiratory therapies, and cryotherapy. As healthcare infrastructure expands globally, particularly in developing economies, the demand for high-purity CO₂ is rising.

In the oil and gas industry, enhanced oil recovery (EOR) techniques use CO₂ injection to increase the extraction of crude oil from depleted reservoirs. The growing adoption of CO₂-based EOR in North America—especially in the U.S. and Canada—is significantly contributing to market expansion.

A crucial opportunity lies in the carbon capture and utilization (CCU) sector, where companies are investing in CO₂ recycling technologies to reduce industrial emissions and convert CO₂ into useful chemicals, fuels, and construction materials. With net-zero emission goals becoming a global priority, industries are seeking innovative ways to repurpose CO₂, boosting investment in sustainable CO₂ applications.

Further, the growing use of liquid CO₂ in fire suppression systems, food freezing, and cooling applications in logistics and pharmaceuticals further expands market opportunities. The push toward sustainable CO₂ sourcing, including bio-based CO₂ and direct air capture (DAC) technologies, presents future growth potential for the market.

Five Trends that will define global Carbon Dioxide Market in 2025 and Beyond

A closer look at the multi-million global market for Carbon Dioxide Market identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Carbon Dioxide Companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.

What are the biggest opportunities for growth in the Carbon Dioxide Industry?

The Carbon Dioxide Market sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2032. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.

Carbon Dioxide Market Segment Insights

The Carbon Dioxide Industry presents strong offers across categories. The analytical report offers forecasts of Carbon Dioxide Industry performance across segments and countries. Key segments in the industry include- By Source (Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, Others), By Form (Solid, Liquid, Gas), By Application (Food & Beverages, Oil & Gas, Medical, Rubber, Firefighting, Others). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.

Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Carbon Dioxide Market size outlook is provided for 22 countries across these regions.

Carbon Dioxide Industry Value Chain

The chapter identifies potential companies and their operations across the global Carbon Dioxide Industry ecosystem. It assists decision-makers in evaluating global Carbon Dioxide Market fundamentals, market dynamics, and disruptive trends across the value chain segments.

Scenario Analysis and Forecasts

Strategic decision-making in the Carbon Dioxide Industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.

Asia Pacific Carbon Dioxide Market Analysis- A Promising Growth Arena for Business Expansion

As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.

The State of Europe Carbon Dioxide Industry 2025- Focus on Accelerating Competitiveness

As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Carbon Dioxide Market with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Carbon Dioxide Market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.

The US Carbon Dioxide Market Insights- Executives are most excited about opportunities for the US Carbon Dioxide Industry.

Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Carbon Dioxide Companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Carbon Dioxide Market.

Latin American Carbon Dioxide Market outlook rebounds in line with economic growth.

Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.

Middle East and Africa Carbon Dioxide Markets- New Opportunities for Companies Harnessing Diversity

Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Carbon Dioxide Markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Carbon Dioxide Markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.

Competitive Landscape- How Carbon Dioxide Companies outcompete in 2025 and Beyond?

The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include Acail Gás, Air Liquide S.A., Air Products and Chemicals Inc, Greco Gas Inc, Linde plc, Messer Group GmbH, Sicgil India Ltd, SOL Group S.p.A, Strandmøllen A/S, Taiyo Nippon Sanso Corp.

Carbon Dioxide Market Scope and Segmentation

By Source

Hydrogen

Ethyl Alcohol

Ethylene Oxide

Substitute Natural Gas

Others

By Form

Solid

Liquid

Gas

By Application

Food & Beverages

Oil & Gas

Medical

Rubber

Firefighting

Others

Countries Included-

North America- US, Canada, Mexico

Europe- Germany, France, UK, Spain, Italy, Benelux, Turkey, Russia, Rest of Europe

Asia Pacific- China, India, Japan, South Korea, South East Asia, Australia, Rest of APAC

South and Central America- Brazil, Argentina, Chile, Rest of SCA

Middle East and Africa- Saudi Arabia, the UAE, Israel, South Africa, Algeria, Nigeria, Rest of Middle East, Rest of Africa

Companies Included in the Carbon Dioxide Market Research-

Acail Gás

Air Liquide S.A.

Air Products and Chemicals Inc

Greco Gas Inc

Linde plc

Messer Group GmbH

Sicgil India Ltd

SOL Group S.p.A

Strandmøllen A/S

Taiyo Nippon Sanso Corp

Reasons to Buy the report

• Make informed decisions through long and short-term forecasts across 22 countries and segments.
• Evaluate market fundamentals, dynamics, and disrupting trends set to shape 2025 and beyond.
• Gain a clear understanding of the competitive landscape, with product portfolio and growth strategies.
• Get an integrated understanding of the entire market ecosystem and companies.
• Stay ahead of the competition through plans for growth in a changing environment for your geographic expansion.
• Assess the impact of advanced technologies and identify growth opportunities based on actionable data and insights.
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