Press release
GCC Liquid Carbon Di Oxide Market Expected to Reach USD 667.4 Million by 2031 | Linde plc, Hunan Kaimeite Gases, Continental Carbonic Products, Inc
GCC Liquid Carbon Di Oxide Market || 2024-2031
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What is the projected growth rate (CAGR) of the Global GCC Liquid Carbon Di Oxide market from 2024 to 2031, and what is the market value expected to change by 2031?
The GCC liquid carbon di-oxide market reached US$ 334.8 million in 2023 and is expected to reach US$ 667.4 mllion by 2031, growing with a CAGR of 9.0% during the forecast period 2024-2031.
What is GCC Liquid Carbon Di Oxide Market?
The GCC Liquid Carbon Dioxide Market pertains to the supply and demand for liquid carbon dioxide (CO2) within the Gulf Cooperation Council (GCC) region, which includes countries like Saudi Arabia, UAE, Qatar, Kuwait, Oman, and Bahrain. Liquid CO2 is utilized in various industries, including food and beverage, pharmaceuticals, and chemical manufacturing. Market growth is driven by increasing applications in carbonated beverages, refrigeration, and enhanced oil recovery, alongside a rising focus on sustainability and carbon capture technologies.
Growth Driver
The food and beverage industry in the GCC region is experiencing significant growth, particularly in the demand for carbonated drinks such as soft drinks, carbonated water, and energy drinks. A key ingredient in creating the desired fizz and effervescence in these beverages is liquid carbon dioxide (CO2). As the popularity of carbonated beverages continues to rise, so does the demand for liquid CO2, driving expansion in this market. The increasing consumption of these drinks not only reflects changing consumer preferences but also indicates a thriving food and beverage sector in the region.
Key Players:
Profiles of some of the major players in the global GCC Liquid Carbon Di Oxide market, which include Linde plc, Hunan Kaimeite Gases, Continental Carbonic Products, Inc, Taiyo Nippon Sanso Corporation, SOL Group, Ras Gas, Gulf Cryo, Kuwait Oxygen and Acetylene Company (KOAC) , Dubai Industrial Gases (DIG) and Buzwair Industrial Gases.
Industry Development:
In June 2023, Saudi Aramco entered into a three-year agreement with Weatherford, a UK-based oilfield services company, to enhance its oil well drilling services. This expansion is expected to significantly increase the demand for liquid CO2, which is essential as a solvent in well stimulation operations during the drilling process.
Meanwhile, in December 2022, a collaborative pilot project involving the Saudi Electricity Company (SEC), King Abdullah University of Science and Technology (KAUST), ENOWA, and NEOM's Energy & Water began utilizing cryogenic carbon capture technology. This initiative aims to capture 30 tonnes of carbon dioxide per day from the Green Duba Integrated Solar Combined Cycle (ISCC) power plant. Most of the captured carbon will be repurposed to produce e-fuels designed to replace fossil fuels in internal combustion engines. The resulting pure liquid CO2 will also be suitable for transportation and applications in the food and beverage industry.
The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global GCC Liquid Carbon Di Oxide market.
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Market Segments:
The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.
By Grade: Food Grade Liquid Carbon Di-Oxide, Medical Grade Liquid Carbon Di-Oxide, Industrial Grade Liquid Carbon Di-Oxide.
By Application: Food and Beverages, Oil and Gas, Chemicals, Electronics, Pharmaceuticals, Agriculture, Others.
Regional Break out:
☞ North America - US, Canada, Mexico
☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Colombia, Rest of South America
☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel
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➧ Compare your performance with industry leaders to identify gaps, strengths, and areas for improvement.
➧ Stay updated with emerging market trends, technological advancements, and customer behaviour to refine your strategy.
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➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.
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