Future Perspectives: Key Trends Shaping the Industrial Carbon Dioxide Market Up to 2029

The industrial carbon dioxide market is positioned for substantial expansion over the coming years, driven by diverse industrial needs and environmental considerations. As the demand for CO2 spans multiple sectors, the market is evolving with advancements in technology and shifting regulatory landscapes. Below is an in-depth look at the market size, key players, emerging trends, and segment analysis shaping this industry.

Growth Trajectory and Market Size of the Industrial Carbon Dioxide Market
The industrial carbon dioxide market is projected to grow steadily, reaching a value of $7.16 billion by 2029. This growth will occur at a compound annual growth rate (CAGR) of 6.3% throughout the forecast period. Factors fueling this expansion include increased utilization of CO2 in enhanced oil recovery processes, rising applications in the food and beverage sector, broader adoption of carbon capture and storage (CCS) technologies, accelerated industrialization and manufacturing activities, as well as tightening environmental regulations aimed at reducing greenhouse gas emissions. Key trends expected to drive the market forward include innovations in carbon capture technology, development of affordable CO2 utilization techniques, breakthroughs in direct air capture systems, improvements in industrial emissions monitoring, and establishment of sustainable CO2 storage infrastructure.

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Leading Businesses Influencing the Industrial Carbon Dioxide Market
The industrial carbon dioxide market is dominated by several prominent companies such as BASF SE, Linde plc, Air Liquide S.A., Air Products and Chemicals Inc., Taiyo Nippon Sanso Corporation, Air Water Inc., Messer Group GmbH, SOL S.p.A., Westfalen AG, Matheson Tri-Gas Inc., Gulf Cryo Holding Company, India Glycols Limited, Continental Carbonic Products Inc., LanzaTech Inc., Toshiba Energy Systems & Solutions Corporation, Suzhou Jinhong Gas Co. Ltd., Coregas Pty Ltd, Buzwair Industrial Gases Factories Co. LLC, Iwatani Corporation, and SIAD Group.

In January 2025, Alto Ingredients, Inc., a US-based producer and distributor specializing in specialty alcohols, acquired Kodiak Carbonic, LLC, a beverage-grade liquid carbon dioxide processing facility. Though the acquisition amount was undisclosed, this move aims to secure improved long-term CO2 sales contracts, immediately enhance profitability, reduce future cash flow risks, broaden Alto's premium ingredients portfolio, and boost the economics and valuation of its Columbia facility.

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Sustainability and Technological Innovations Shaping the Industrial Carbon Dioxide Market
Companies in the industrial carbon dioxide sector are increasingly focusing on establishing sustainable CO2 production plants to satisfy growing demand while minimizing environmental impacts. These facilities generate or capture carbon dioxide through eco-friendly methods that reduce emissions and energy use. Many incorporate carbon capture, renewable energy resources, and circular economy principles to lower their carbon footprint.

For example, in December 2024, Messer Group, a German industrial gases firm, launched a green CO2 facility at its Vrdy site in the Czech Republic. This plant produces green carbon dioxide sourced from a local bioethanol producer, aligning with Messer's environmental, social, and governance (ESG) objectives by reducing reliance on fossil or chemical sources. The facility also strengthens supply reliability for local industries, especially food and beverage companies, by cutting down the need to import CO2 and reducing greenhouse gas emissions through shorter transportation routes.

Key Product and Application Segments Driving Industrial Carbon Dioxide Market Expansion
This report segments the industrial carbon dioxide market as follows:

1) Product Type:
- Liquid Carbon Dioxide
- Solid Carbon Dioxide (Dry Ice)
- Gas Carbon Dioxide

2) Source:
- Hydrogen Production
- Ethyl Alcohol Production
- Ethylene Oxide Production
- Substitute Natural Gas Production
- Other Sources

3) Supply Mode:
- Cylinders
- Bulk Supply
- Pipelines

4) Application:
- Enhanced Oil Recovery
- Ammonia Synthesis
- Carbonation
- Shielding and Inert Gas
- Dry Ice
- Other Applications

5) End-User:
- Food and Beverages
- Oil and Gas
- Chemicals
- Building and Construction
- Medical and Pharmaceuticals
- Metal Industry
- Rubber and Plastic
- Other End-Users

Additional subcategories include:
- Liquid Carbon Dioxide splits into food-grade, industrial-grade, and beverage-grade CO2.
- Solid Carbon Dioxide (Dry Ice) is divided into pellet dry ice, block dry ice, and custom-shaped dry ice.
- Gas Carbon Dioxide includes compressed gas, high-purity gas, and specialty gas mixtures.

This detailed segmentation reflects the wide range of uses and sources that contribute to the growth and diversification of the industrial carbon dioxide market.

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This release was published on openPR.