Press release
Demand for Carbon Dioxide (CO2) Market to Hike with Growing Food Processing Industry through 2031
Further, increasing consumption from end-use industries such as oil & gas and food & beverages followed by surging adoption of carbon dioxide in medical and related industries is being seen across regions.
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The CO2 market is partially consolidated in nature, with a notable amount of players catering to overall demand. Majority of players are involved in strategies such as acquisitions and joint-ventures to gain market position.
As per the latest revised report published by Fact.MR, the global carbon dioxide (CO2) market is anticipated to surpass a valuation of US$ 3.5 Bn in 2021, and is poised to expand at a CAGR of more than 8% over the next ten years.
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Key Takeaways from Market Study
The carbon dioxide market is anticipated to add 2.2X value by 2031.
Combustion segment to capture major portion, equivalent to more than half of the global market share, and is set to create an absolute $ opportunity of around US$ 1.1 Bn over the forecast period.
Among the end use industries, metal manufacturing & fabrication and food & beverages are set to be the fastest-growing.
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In 2021, North America is set to dominate market revenue, but by 2031 it is anticipated to lose 152 BPS.
The market in China, the U.S. and India is expected to rise at around 8% CAGR each through 2031.
Due to the COVID-19 crisis, demand for carbon dioxide was hit in 2020, which saw a decline in the 2nd and 3rd quarters of the year.
“Investing in cost-effective transportation systems for carbon-dioxide to reduce overall product price would be the focus of CO2 manufacturing companies,” says a Fact.MR analyst.
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Winning Strategy
To CO2 manufacturers should invest in R&D to develop cost-effective carbon dioxide transportation systems. These enhancements will drive their growth in the carbon dioxide market in the medium- to long-term forecast period.
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