Latin America CO2 Market Forecast to Hit USD 2.82 Billion by 2034 with 4.09% CAGR Surge

The quantitative market research report published by Polaris Market Research on Latin America CO2 Market aims to educate users with an in-depth understanding of a rapidly growing market. The study details important facts and figures, expert opinions, and major developments across the globe. The research study serves as a vital source of information with the historical data, Latin America CO2 market size, financial data, and projected future growth. All the information presented in the report will help industry participants expand their positions in the market.

Market Stats:

Latin America CO2 Market is currently valued at USD 1.90 Billion in 2024 and is anticipated to generate an estimated revenue of USD 2.82 Billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 4.09% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 - 2034

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Report Aim and Scope:

The purpose of the research report is to gain a thorough understanding of the industry's potential and to provide insights that will help stakeholders make wise business decisions. Being a comprehensive report, the study puts light on primary and secondary market drivers, leading segments, estimated sales volume, and latest expansions. Also, it offers an all-inclusive perspective on the competitive landscape of the market and a detailed supply chain analysis to help businesses and investors identify crucial changes in industry practices. Furthermore, the study analyzes the unique characteristics and behavior of various segments in the industry.

Competitive Landscape Analysis:

The presence of various Latin America CO2 market key players, each employing a different marketing strategy to gain a larger market share, has resulted in intense competition and industry fragmentation. The research report profiles the various key players operating in the market based on price, quality, product portfolio, and brand distinction. Also, it covers various other aspects like product offerings, manufacturing priorities, and significant financial information about key players operating in the industry. Besides, the study includes a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

Here are the key players operating in the market:

Air Liquide
Air Products Inc.
Linde Plc
Messer SE & Co. KGaA
Oxigas Gases
SOL Group
Technip Energies
White Martins
Zephyr Solutions, LLC

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Latin America CO2 Market Report Highlights

▪️ In terms of source, the ethyl alcohol segment held 34.28% of the revenue share in 2024 due to strong agricultural production, particularly in Brazil.
▪️ The substitute natural gas segment is projected to register a CAGR of 4.31% from 2025 to 2034, owing to a rising shift toward cleaner and more reliable sources of carbon dioxide.
▪️ Based on application, the oil & gas segment accounted for 64.33% of Latin America carbon dioxide (CO2) market share in 2024 due to the region's reliance on enhanced oil recovery (EOR) techniques.
▪️ The food & beverages segment is expected to register a CAGR of 4.44% from 2025 to 2034, owing to shifting consumer lifestyles, rising urbanization, and increasing disposable incomes.
▪️ Brazil accounted for 43.19% of the Latin America carbon dioxide (CO2) market share in 2024. This dominance is attributed to its strong ethanol industry, which provides a steady and cost-effective source of CO2.
▪️ The market in Chile is estimated to register a CAGR of 3.50% from 2025 to 2034, owing to expanding industrial activities, particularly in food and beverage production, where companies use CO2 for carbonation and preservation.

Market Drivers and Restraints:

The research report discusses all the major elements that may influence the growth trajectory of the market. It includes in-depth information on the market drivers and restraints that are endangering the global industry. Furthermore, it goes on to analyze the various segments and sub-segments in the market. The research study offers a thorough analysis of the current industry trends and global development drivers for the market.

The study sheds light on all the major technological advancements, innovations and new product introductions anticipated to support the market expansion. Besides, it covers regulatory initiatives and changes that may have a favorable impact on the Latin America CO2 market demand. Furthermore, investments in research and development activities by government and private entities have been covered in the study.

Market Segmentation:

By Source Outlook
▪️ Hydrogen
▪️ Ethyl Alcohol
▪️ Ethylene Oxide
▪️ Substitute Natural Gas
▪️ Others

By Application Outlook
▪️ Food & Beverages
▪️ Oil & Gas
▪️ Medical
▪️ Rubber
▪️ Firefighting
▪️ Others

By Country Outlook
▪️ Brazil
▪️ Argentina
▪️ Chile
▪️ Columbia
▪️ Peru
▪️ Rest of Latin America

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The Report Provides Answers to the Following Questions:

1. How will the Latin America CO2 industry perform during the estimated period?
➜ The market will grow at a CAGR of 4.09% from 2025 to 2034, driven by growing demand for carbonated drinks, increasing adoption of electric vehicles, and expanding urbanization.

2. What will be the industry size in terms of volume and sales?
➜ Sales will grow from USD 1.90 billion in 2024 to USD 2.82 billion by 2034.

3. What are the impeding factors that may hamper market demand?
➜ The report does not specify impeding factors.

4. What are the key trends in this market?
➜ Key trends include dominance of oil & gas applications for enhanced oil recovery, strong ethanol-based CO2 production from bioethanol industry, and rising use in vertical farming and concrete curing technologies.

5. Which are the main factors responsible for new product launches?
➜ Government policies promoting biofuels, investments in synthetic fuel and gasification technologies, carbon capture as a service initiatives, and decarbonization programs.

The Latin America CO2 market research report assesses all the key industry elements, such as long-term industry prospects, niche conclusion trends, and their evolution in the industry. It provides access to crucial information on raw material costs, production sites, and extensive industry chain analysis. The industry data and information provided in the report provide stakeholders with deep insights into the financial viability and practicality of various industry aspects.

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