Carbon Dioxide Market to Gain Major Momentum on Account of Rapid Demand from the Beverage Industry and Increasing Growth and Adoption of Renewable Energy Sources

Market Scope & Overview 2023

The carbon dioxide market was valued at USD 3.93 billion in 2022 and is projected to reach USD 6.76 billion by 2030, with a compound annual growth rate (CAGR) of 7% during the forecast period of 2023-2030, as reported by SNS Insider.

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The Major Key Company Profiles included in Carbon Dioxide market study are:

Air Liquide
Greco Gas Inc.
Messer Group
SOL Group
Strandmøllen A/S
Acail Gás
Air Products and Chemicals Inc.
Linde AG
Sicgil India Limited
Taiyo Nippon Sanso Corporation

Carbon dioxide (CO2) is a colorless, odorless gas that is naturally present in Earth's atmosphere. It consists of one carbon atom bonded to two oxygen atoms. Carbon dioxide plays a crucial role in Earth's carbon cycle and is essential for the survival of plants and animals. While it is a naturally occurring gas, human activities, particularly the burning of fossil fuels and deforestation, have significantly increased its concentration in the atmosphere, leading to environmental concerns.

Market Analysis

One of the major drivers for the carbon dioxide market's future growth is the increasing demand for carbon capture and storage (CCS) technologies. CCS involves capturing CO2 emissions from industrial processes and storing them underground, thereby reducing their impact on the atmosphere. Governments and industries worldwide are recognizing the importance of CCS in achieving emission reduction targets, leading to a surge in CCS projects. This trend is expected to fuel the demand for carbon dioxide as a feedstock for CCS applications.

Impact of Recession

Recessions have a multifaceted impact on the carbon dioxide market. Reduced industrial output, lower energy consumption, changes in regulatory policies, and investment in green technologies collectively influence the dynamics of supply, demand, and pricing. While recessions can temporarily disrupt the market, the long-term outlook for the market remains positive, as the global commitment to addressing climate change continues to drive the transition towards a low-carbon economy.

Segmentation Analysis

The hydrogen segment and food & beverages sector are poised to dominate the carbon dioxide market, driven by the increasing demand for clean energy solutions and sustainable practices. The growth of these segments will have significant implications for the industry, fostering innovation, and reinforcing the importance of carbon dioxide in various applications. As the world strives to reduce carbon emissions and transition towards a greener future, the hydrogen and food & beverages sectors will play a pivotal role in shaping the market.

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The Carbon Dioxide Market Segments and Sub-Segments are Listed Below:

By Source Types

Hydrogen
Ethyl Alcohol
Ethylene Oxide
Substitute Natural Gas

By Application Types

Food & Beverages
Oil & Gas
Medical
Rubber
Fire Fighting

Regional Status & Analysis

North America's technological advancements, abundant CO2 sources, supportive regulatory frameworks, collaborative networks, and international leadership position the region at the forefront of the carbon dioxide market. With its expertise in carbon capture, utilization, and storage, North America has the potential to shape the future of CO2 management, foster sustainable development, and lead the global transition towards a low-carbon economy. By capitalizing on these advantages, North America can drive meaningful change in the fight against climate change while capturing the economic opportunities presented by the growing CO2 market.

Conclusion

The market is poised for significant growth in the coming years, driven by factors such as the rising demand for CCS, growing adoption of EOR techniques, emergence of carbon dioxide utilization technologies, increasing focus on sustainability in the food and beverage industry, and supportive government policies.

Frequently Asked Questions/ Key Reasons to Purchase this Report

>What is the projected outlook for carbon dioxide market growth?
Ans- The market is projected to reach a value of approximately USD 6.76 billion by the year 2030.

>What are the major factors influencing the carbon dioxide market?
Ans- As the world intensifies its efforts to combat climate change, the demand for carbon dioxide and its sustainable applications will continue to expand, creating new opportunities and contributing to the transition towards a low-carbon economy.

>Who are the leading players in the carbon dioxide market?
Ans- Air Liquide, Sicgil India Limited, Strandmøllen A/S, Acail Gás, Air Products and Chemicals Inc., Greco Gas Inc., Messer Group, SOL Group, Linde AG, Taiyo Nippon Sanso Corporation.


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Table of Contents - Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Global Carbon Dioxide Market segment, by Source Types
9. Global Carbon Dioxide Market segment, By Application Types
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Conclusion

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This release was published on openPR.