Industrial Carbon Dioxide Market Set for Robust Growth, Reaching US$ 7.26 Billion by 2034

Industrial Carbon Dioxide Market Overview The global industrial carbon dioxide market will expand phenomenally. According to the estimation of Fact.MR, the market size will be valued at US $ 5.35 billion in the year 2024 and is set to excesses of 3.1% CAGR, to touch a value of US$ 7.26 billion in the year 2034.

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Key Attributes of Industrial Carbon Dioxide:

Industrial carbon dioxide, colorless gas with a slightly acidic taste, and odorless, is derived from combustion activity and biological sources, including the decomposition of organic matter. Industrial use of carbon dioxide covers a wide range, from beverages and refrigeration to chemical processes and fire extinguishers. Industrial carbon dioxide has enormous usage in the beverage industry for 'carbonated drinks'. In the next couple of years, the requirement for carbon dioxide is likely to increase in comparison to the demand of 'refrigerators'. Carbon Dioxide and solid and liquid forms, which are cooling of fridges, are catching up fast in its business due to lack of any other toxic industrial gases and their sales are booming in almost all industrial sectors.

Industrial Carbon Dioxide in the Bakery Industry:

In the bakery industry, CO2 finds use in baking powder to help raise cake batter with the aid of yeast. CO2 sales have received great momentum courtesy of the popularity of cake use driven by taste and preference. This industry will have a stable growth momentum as demand for CO2 increases in the metal industry to enhance hardness of casting molds.

CO2 is a widely used shielding gas in MIG/MAG welding in the construction industry to protect the weld puddle against oxidation. CO2 is dominant in this industry, and its sales are expected to be in tandem with the construction sector's ramp-up.

Key Players

Linde Plc
Air Products and Chemicals Inc.
Air Liquide
Sicgil India Limited
Matheson Tri-Gas Inc.
Universal Industrial Gases Inc.
The Messer Group GmbH
Taiyo Nippon Sanso.

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Industrial Carbon Dioxide in the Pharmaceutical Industry

Carbon dioxide is widely used in minimally invasive surgery as an insufflation gas that inflates cavities of the body, usually accessed by endoscopy, in order to expand and facilitate access. Surgical procedures grow, increasing the demand for CO2 gas by the pharmaceutical sector. It has also been established in the petroleum industry where it is in use in activities like oil wells in the extraction of oil. Long-term dependence on oil, being a primary fuel on almost all the applications, has raised the demand for industrial carbon dioxide. In recent years, industrial usage of CO2 has gained significant traction in the rubber and plastic sector to bring down product contamination, thereby making the environment safer.

Industrial CO2 in Petroleum

CO2 has also found wider use in the petroleum industry; for example, it is used even in oil wells for extraction and maintaining pressure within formations. The long history of utilizing oil as a primary fuel source brought along an increased demand for industrial carbon dioxide.

Industrial Carbon Dioxide in the Rubber and Plastic Industry

In the past few years, industrial CO2 has been a lot of scope in industries like rubber and plastic for reducing the contamination of products and for providing improved environmental safety.

Key Segments of Industrial Carbon Dioxide Market Research

By Source :
Natural Gas Processing
Ammonia Plants
Ethanol Plants
Production Wells
Others

By Application :
EOR
Ammonia Synthesis
Carbonation
Shielding & Inert Gas
Dry Ice

By End Use :
Food & Beverages
Oil & Gas
Chemicals
Building & Construction
Medical & Pharmaceuticals
Metal Industry
Rubber & Plastic
Others

By Region :
North America
Latin America
Eastern Europe
Western Europe
East Asia
South Asia & Pacific
Middle East & Africa

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This release was published on openPR.