GCC Liquid Carbon Dioxide Market to Reach US$564.52M by 2032 | Top 5 Companies Growth - Axcel Gases, Saudi Basic Industries Corporation (SABIC), Linde Plc, and Buzwair Industrial Gases, Gulf Cryo

GCC liquid carbon di-oxide market reached US$253.7 million in 2024 and is expected to reach US$564.52 million by 2032, growing at a CAGR of 10.6% during the forecast period 2025-2032.

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Qatar plans to invest US$50 billion to develop a major carbon hub at Ras Laffan Industrial City, which houses over 80 gas turbines. This initiative reinforces Qatar's climate leadership while securing a sustainable, eco-friendly carbon dioxide supply for vital industries.

Latest M&A and Strategic Investments

✅ Gulf Cryo, in partnership with Petro Rabigh, launched Saudi Arabia's first carbon capture and utilization (CCU) facility in Rabigh, producing 300 metric tons of high-purity liquid CO2 per day and reducing 100,000 metric tons of CO2 emissions annually. This project operates under a 20-year agreement with the Saudi Aramco-Sumitomo joint venture and supports decarbonization efforts in the region.

✅ QatarEnergy, in collaboration with General Electric, advanced its national carbon capture roadmap with a $50 billion investment to establish a large-scale carbon hub in Ras Laffan Industrial City to produce eco-friendly CO2 for food, beverage, chemical, and industrial use.

✅ The GCC region is actively supporting liquid CO2 projects through incentives, infrastructure development, and sustainability policies under initiatives like Saudi Green Initiative and Vision 2030 to achieve net-zero carbon emissions by 2060.

Key Players:

Air Products and Chemicals, Inc., Gulf Cryo, Arabia Gas Company, National Industrial Gas Plants (NIGP), Sharjah Oxygen Company (SOC), Axcel Gases, Saudi Basic Industries Corporation (SABIC), Linde Plc, and Buzwair Industrial Gases.

Recent Product Launches and Market Developments

✅ Advances include improvements in liquefaction, purification, and compression technologies enhancing supply quality, cost efficiency, and safety of liquid CO2 distribution and storage. Cryogenic transport systems and automated dispensing solutions further improve operational reliability.

✅ Saudi Arabia's Ministry of Energy announced a multi-phase project to establish a major CCUS hub in Jubail Industrial City targeting 9 million tons per annum capacity by 2027, part of a broader plan to reach 44 Mtpa CO2 capture and utilization by 2035.

Growth Forecast Projected:

The GCC Liquid Carbon Dioxide Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the GCC Liquid Carbon Dioxide Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

By Application: Food & Beverage, Healthcare and Pharmaceuticals, Welding and Metal Fabrication, Agriculture, Chemical Industry, Cement Industry, Others

By Country: Saudi Arabia, UAE, Kuwait, Qatar, Oman, Bahrain

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among GCC Liquid Carbon Dioxide producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze GCC Liquid Carbon Dioxide revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ's

Q1: What is the current size of the GCC Liquid Carbon Dioxide Market?

A: The GCC Liquid Carbon Dioxide Market stood at US$253.7 million in 2024 and is set to experience remarkable growth, reaching US$564.52 million by 2032

Q2: How fast is the GCC Liquid Carbon Dioxide Market growing?

A: The Market is on an impressive growth trajectory, expected to expand at a CAGR of 10.6% from 2025 to 2032

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Procurement, Demand, and Supply Insights

✅ Industrialization and economic diversification across the GCC continue to boost demand for high-purity liquid CO2 in sectors such as food and beverage carbonation, enhanced oil recovery (EOR), chemicals, and healthcare applications.

✅ Fluctuations in feedstock supply and quality remain a challenge due to reliance on by-products from hydrocarbon industries including petrochemicals and ammonia production, urging the region to seek sustainable and consistent CCUS-enabled CO2 sources.

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