GCC Liquid Carbon Dioxide Market Intelligence Report (2025-2032) | Market Dynamics, M&A Activity, Future Scope, Developments & Investment Opportunities

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.

The GCC Liquid Carbon Dioxide Market refers to the production, purification, liquefaction, storage, transportation, and commercial distribution of carbon dioxide (CO2) in liquid form across the Gulf Cooperation Council (GCC) countries, including Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain.

Liquid carbon dioxide is produced primarily as a by-product of industrial processes such as ammonia production, hydrogen manufacturing, natural gas processing, and petrochemical refining. After capture and purification, CO2 is compressed and cooled into liquid form for efficient storage and transportation.

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In the GCC region, liquid CO2 serves multiple applications, including:

Carbonated beverage production

Food preservation and modified atmosphere packaging (MAP)

Water treatment and pH control

Welding and metal fabrication

Enhanced oil recovery (EOR)

Healthcare and pharmaceutical uses

Fire suppression systems

The market is driven by expanding food & beverage consumption, growing oil & gas activities, increasing adoption of carbon capture and utilization (CCU) technologies, and rising sustainability initiatives aimed at reducing industrial emissions across the Gulf region.

Recent Developments:

✅ October 2025: A leading industrial gas producer in the Gulf Cooperation Council (GCC) commissioned a new liquid carbon dioxide recovery and liquefaction facility integrated with a petrochemical complex in Jubail. The plant captures CO2 emissions from ammonia production and converts them into food- and beverage-grade liquid CO2, supporting regional decarbonization and circular carbon initiatives.

✅ August 2025: A UAE-based gas solutions provider expanded its liquid CO2 storage and distribution network in Abu Dhabi to meet rising demand from carbonated beverage manufacturers, water treatment facilities, and enhanced oil recovery (EOR) projects. The expansion strengthens supply chain resilience amid growing industrial consumption.

✅ June 2025: A major beverage bottling company in Saudi Arabia signed a long-term supply agreement with a regional CO2 producer to secure high-purity liquid carbon dioxide for carbonated soft drinks. The agreement reflects strong growth in the FMCG and hospitality sectors across the GCC.

✅ April 2025: Industrial gas companies operating in Qatar introduced advanced purification technologies for liquid CO2 derived from LNG and fertilizer plants. The upgraded systems ensure compliance with international food safety and medical-grade standards, expanding application scope into healthcare and food processing.

Mergers & Acquisitions:
✅ November 2025: A prominent Middle Eastern industrial gas company acquired a regional carbon capture and liquefaction specialist to enhance its liquid CO2 production capacity across the GCC, strengthening its footprint in beverage, welding, and oilfield services sectors.

✅ September 2025: A global energy and chemicals group formed a joint venture with a GCC-based petrochemical firm to develop integrated carbon capture and utilization (CCU) facilities, enabling large-scale liquid CO2 commercialization for industrial applications.

✅ July 2025: A multinational gas distribution company expanded its GCC presence through the acquisition of a local bulk CO2 transportation and cryogenic storage provider, improving last-mile delivery capabilities across Saudi Arabia and the UAE.

✅ May 2025: A regional utilities conglomerate invested in a smart CO2 monitoring and analytics startup to optimize storage, logistics, and quality tracking of liquid carbon dioxide supplies, enhancing operational efficiency and regulatory compliance.

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GCC Liquid Carbon Dioxide Market - Regional Analysis
The GCC Liquid Carbon Dioxide Market shows distinct regional dynamics influenced by industrial concentration, oil and gas infrastructure, food and beverage production, and carbon capture initiatives across the member states of the Gulf Cooperation Council. The availability of CO2 as a by-product from ammonia, hydrogen, LNG, and petrochemical plants plays a critical role in shaping production capacity and supply stability within each country.

Saudi Arabia dominates the regional market due to its extensive petrochemical complexes, fertilizer plants, and hydrogen production facilities. Major industrial hubs such as Jubail and Yanbu serve as key centers for CO2 recovery and liquefaction. The country's strong oilfield services sector, particularly enhanced oil recovery (EOR) activities, further boosts demand for liquid carbon dioxide. Additionally, increasing investments in carbon capture and sustainability initiatives under national development programs are supporting long-term market expansion.

The United Arab Emirates represents one of the fastest-growing markets in the region. Industrial zones in Abu Dhabi and Dubai are driving demand due to expanding food and beverage manufacturing, hospitality growth, and rising infrastructure development. The UAE's proactive approach toward carbon capture and utilization (CCU) technologies, combined with growth in water treatment and healthcare applications, is strengthening the demand for high-purity liquid CO2.

Qatar benefits significantly from its large-scale natural gas processing and LNG operations, which provide substantial CO2 recovery opportunities. Fertilizer and ammonia production facilities also contribute to domestic supply. With ongoing industrial diversification and sustainability commitments, Qatar is enhancing its purification and liquefaction capabilities to meet both industrial and food-grade standards.

In Kuwait, the market is characterized by steady industrial consumption supported by refinery upgrades, petrochemical expansion, and growth in food processing. Although production capacity is comparatively smaller than Saudi Arabia and the UAE, modernization of refining infrastructure is expected to improve CO2 capture efficiency in the coming years.

Oman presents emerging opportunities, particularly through enhanced oil recovery activities and the development of new industrial zones and port infrastructure. Investments in clean energy and carbon management strategies are expected to gradually expand liquid CO2 production and application scope.

Meanwhile, Bahrain represents a smaller but stable market driven by food and beverage manufacturing, metal fabrication, and water treatment applications. Growth is closely tied to ongoing industrial diversification initiatives and infrastructure development projects.

Overall, the GCC liquid carbon dioxide market is strongly integrated with the region's oil, gas, and petrochemical industries. Saudi Arabia and the UAE remain the dominant contributors, while Qatar, Oman, and Kuwait offer incremental growth opportunities supported by LNG expansion, refinery upgrades, and sustainability-focused investments.

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Major Regional & Global Players
1. Air Products and Chemicals, Inc.
A global leader in industrial gases with a strong presence in the GCC. The company supplies bulk liquid CO2 to petrochemical facilities, beverage manufacturers, and energy projects through long-term supply contracts and advanced cryogenic logistics networks.

2. Linde plc
One of the world's largest industrial gas producers, Linde operates across GCC markets, offering high-purity liquid CO2 solutions for food-grade, medical, and industrial applications, supported by integrated capture and purification systems.

3. Gulf Cryo
A major regional supplier with extensive infrastructure across Saudi Arabia, UAE, Kuwait, Qatar, Oman, and Bahrain. Gulf Cryo provides food-grade and industrial liquid CO2 supported by local production and distribution capabilities.

4. Arabia Gas Company
A key regional distributor specializing in bulk CO2 supply for food processing, beverage carbonation, welding, and industrial manufacturing sectors.

5. National Industrial Gas Plants (NIGP)
Supplies high-purity liquid CO2 and other industrial gases to refineries, petrochemical complexes, and food-grade industries within the GCC.

6. Sharjah Oxygen Company (SOC)
A UAE-based industrial gas manufacturer providing liquid CO2 solutions to healthcare facilities, food manufacturers, and industrial users.

7. Axcel Gases
A growing regional supplier offering diversified industrial gas solutions, including liquid CO2, across multiple end-use sectors.

8. Saudi Basic Industries Corporation (SABIC)
While primarily a petrochemical giant, SABIC integrates CO2 capture and reuse within its operations, contributing to regional supply and sustainability-driven initiatives.

9. Buzwair Industrial Gases
A Qatar-based industrial gas company supplying liquid CO2 for industrial, medical, and food applications across the GCC.

Future Scope of the GCC Liquid Carbon Dioxide Market
The GCC Liquid Carbon Dioxide Market is poised for significant growth and transformation over the next decade, driven by evolving industrial needs, sustainability initiatives, and advancements in CO2 capture and utilization technologies.

1. Expansion of Carbon Capture and Utilization (CCU) Projects
With increasing focus on reducing industrial emissions, GCC countries are investing in carbon capture and utilization (CCU) and carbon capture, utilization, and storage (CCUS) frameworks as part of broader climate action strategies. Captured CO2 from petrochemical, ammonia, and LNG plants will increasingly be purified and liquefied for commercial use, expanding the supply base and reducing greenhouse gas emissions. This creates opportunities for new liquefaction facilities and technology partnerships.

2. Growth in Food & Beverage and Healthcare Sectors
Population growth, rising incomes, and changing dietary patterns in the GCC are fueling demand for carbonated beverages, ready-to-eat foods, and packaged products-all of which rely on liquid CO2 for carbonation and modified atmosphere packaging (MAP). Likewise, high-purity CO2 requirements in healthcare and pharmaceuticals are expected to grow, supporting sterilization, medical gas applications, and advanced manufacturing processes.

3. Enhanced Oil Recovery (EOR) and Energy Diversification
Liquid CO2 plays a role in enhanced oil recovery (EOR) across the region's mature oil fields, helping extend the productive life of reservoirs and improve recovery rates. As GCC countries pursue energy diversification under national visions (e.g., Vision 2030, UAE Centennial), demand for CO2 in EOR and associated infrastructure is expected to continue, supporting long-term market stability.

4. Industrial Infrastructure and Regional Supply Chain Development
The expansion of industrial zones, ports, and logistics hubs-such as in Saudi Arabia's Eastern Province, UAE's industrial cities, and Oman's Duqm area-will strengthen regional supply chains for liquid CO2. Investments in cryogenic storage, bulk transportation, and distribution networks will enhance availability and reduce cost barriers for end users.

5. Technological Innovation in Purification and Liquefaction
Advances in CO2 purification and liquefaction technologies will improve energy efficiency and product quality, enabling broader adoption in sensitive applications such as electronics, healthcare, and specialty manufacturing. Modular and mobile liquefaction units are likely to emerge, offering flexible solutions for remote or offshore facilities.

6. Regulatory Frameworks and Emissions Targets
GCC governments are increasingly incorporating environmental sustainability into regulatory frameworks, including emissions caps, clean energy policies, and incentives for low-carbon technologies. These policies could encourage industrial players to adopt CO2 reuse strategies and increase demand for liquid CO2 as both a product and a carrier of captured carbon.

7. Export and International Collaboration Opportunities
As the GCC strengthens its infrastructure and adopts best-in-class purification standards, there is potential for liquid CO2 export to neighboring regions with high demand, such as East Africa, South Asia, and the Levant. Collaborative ventures with global industrial gas companies can accelerate technology transfer and market penetration.

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