Carbon Dioxide Market 2024-2028: Size and High manufacturing cost of industrial CO2; growth driven by the Technology, Some of key Companies Positioned Strategically

The carbon dioxide market size by Technology (Combustion and Biological), Application (Enhanced oil recovery, Food and beverages, Precipitated calcium carbonate, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America), is forecast to increase by USD 2.12 billion. The market is expected to grow at a CAGR of   4.48% between 2024 and 2028.

• In the Carbon Dioxide market, the production process involves significant capital expenditures for setting up air separation units. Vendors face challenges such as volatile raw material prices, rising product costs, and various packaging options, which can narrow profit margins, particularly for medium and small players. The energy-intensive CO2 separation process results in the by-production of nitrogen, hydrogen, and oxygen. Vendors are responding by focusing on economies of scale through tonnage distribution and reducing variable costs to remain competitive in the market. The final price of CO2 gas is determined by the distribution, production, packaging, and storage costs.
• The North American CO2 market is projected to experience continuous expansion throughout the forecast period. Key contributors to this growth include the United States and Canada. The primary drivers of this market expansion are the surging demands for CO2 gas from various industries, including food and beverages, oil and gas, medical, and others. In the oil and gas sector, CO2 gas is extensively utilized in the US for enhanced oil recovery, which enhances oil flow and reduces the extracted oil's viscosity. This trend is anticipated to significantly contribute to the growth of the North American CO2 market during the forecast period.

Access the full report to know who are the other key countries segment-wise forecast and historic data

Some of the Key Companies:

• Air Liquide SA
• Air Products and Chemicals Inc.
• Axcel Gases
• BASF SE
• Buzwair Group
• Chengdu Taiyu industrial Gases Co. Ltd.
• Ellenbarrie Industrial Gases Ltd.
• Gulf Cryo Holding CSC
• Jinhong Gas Co. Ltd.
• Messer SE and Co. KGaA
• Mitsubishi Chemical Group Corp.
• Pavan Industrial Gases Pvt. Ltd.
• Praxair Technology Inc.
• Reliant Gases
• Salasar Carbonics Pvt. Ltd.
• SOL Spa
• Steelman Gases Pvt. Ltd.
• The Linde Group
• Universal Industrial Gases Inc.
• Westfalen AG

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