Global Carbon Dioxide Market to Reach $33.05 Billion by 2029, Growing at 13.4% CAGR

What industry-specific factors are fueling the growth of the carbon dioxide market?
The surge in the need for firefighting is predicted to accelerate the expansion of the carbon dioxide market in the future. The occupation and technique of putting out fires and handling fire-related emergencies aims to safeguard lives, possessions, and the environment. In specific fire suppression systems, carbon dioxide is regularly used as a fire extinguishing agent since it displaces oxygen and removes one of the necessary components for burning, decreasing the possibility of fire incidents and limiting damage. For example, as per the National Fire Protection Association, a non-profit organization based in the US, there was a rise in deaths from 27 firefighters and 35 volunteers in 2021 to 38 firefighters and 51 volunteers in June 2023. Thus, the increasing demand for firefighting is propelling the expansion of the carbon dioxide market.

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What Is the projected market size and growth rate for the carbon dioxide market?
In recent times, there has been a swift expansion in the carbon dioxide market. It is anticipated that the market, which was worth $17.39 billion in 2024, will reach a value of $19.98 billion in 2025, progressing at a compound annual growth rate (CAGR) of 14.9%. The considerable growth witnessed during the historical period is due to the emergence and expansion of markets and the amplified demand arising from the medical sector.

In the coming years, the carbon dioxide market is anticipated to witness fast-paced expansion, with projections suggesting a rise to $33.05 billion by 2029. This growth, reflecting a compound annual growth rate (CAGR) of 13.4%, can be accounted for by the increasing demand for frozen food and a surge in requirements from the oil and gas sector. Key market trends anticipated in the forecast period comprise the advancement of carbon dioxide separation technologies, emphasis on carbon capture and use, supply to greenhouses, and strategic mergers or takeovers to augment market presence.

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What new trends are reshaping the carbon dioxide market and its opportunities?
Producers of carbon dioxide are utilizing advanced technologies in carbon capture and storage (CCS) to efficiently seize, clean, liquefy, and deposit carbon dioxide. CCS operates by ensnaring the carbon dioxide from its emission point and conveying it to a holding site. It's a technological advancement that captures nearly 90% of the carbon dioxide emissions originating from the exploitation of fossil fuels in the generation of electricity and industrial operations. CCS technologies present an efficient approach to capturing carbon dioxide and preventing its release into the environment.

What major market segments define the scope and growth of the carbon dioxide market?
The carbon dioxide market covered in this report is segmented -

1) By Product Type: Liquid Carbon Dioxide, Solid Carbon Dioxide, Gaseous Carbon Dioxide
2) By Grade Type: Medical Grade, Food Grade, Industrial Grade, Other Grade
3) By Application: Food And Beverages, Oil And Gas, Medical, Rubber, Fire Fighting, Chemicals, Metal Products, Other Applications

Subsegments:
1) By Liquid Carbon Dioxide: Food and Beverage Grade Liquid CO2, Industrial Grade Liquid CO2, Pharmaceutical Grade Liquid CO2
2) By Solid Carbon Dioxide (Dry Ice): Food Packaging And Preservation, Refrigeration And Shipping, Blast Cleaning Applications
3) By Gaseous Carbon Dioxide: Industrial Applications (Welding, Metal Fabrication), Beverage Carbonation, Greenhouse Enrichment, Chemical Production

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Which region dominates the carbon dioxide market?
Asia-Pacific was the largest region in the carbon dioxide market in 2024. North America was the second-largest region in the global carbon dioxide market. The regions covered in the carbon dioxide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Which key market leaders are driving the carbon dioxide industry growth?
Major companies operating in the carbon dioxide market include Linde PLC, Air Products and Chemical, Inc., Air Liquide, The Messer Group GmbH, Nippon Sanso Holdings Corporation, Air Water Inc, Gulf Cryo, SOL Spa, Reliant Gases, India Glycols Limited, Praxair Inc., Taiyo Nippon Sanso, Oxair, Yingde Gas Group Co., Ltd., Core Industrial Gases, Supagas, AMCS Corporation, Gagan Gases Ltd, Refex Industries, BOC UK, Altex, Climeworks AG, Carbon Clean, GRASYS, Continental Carbonic Products, Inc., Matheson Tri-Gas, Messer Gases del Peru S.A., WIKA Alexander Wiegand SE & Co. KG, Buzwair, Sasol, Gas Africa Limited, Carbacid Investments Limited, Afrox

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What Is Covered In The Carbon Dioxide Global Market Report?

•Market Size Forecast: Examine the carbon dioxide market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the carbon dioxide market for a structured understanding.
•Key Players Overview: Analyze major players in the carbon dioxide market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the carbon dioxide market.
•Segment Contributions: Evaluate how different segments drive overall growth in the carbon dioxide market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the carbon dioxide market.
•Industry Challenges: Identify potential risks and obstacles affecting the carbon dioxide market.
•Competitive Landscape: Review strategic developments in the carbon dioxide market, including expansions, agreements, and new product launches.

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