205 Users Online
Global Industrial Carbon Dioxide Market by Source (Natural Gas Processing, Ammonia Plants, Ethanol Plants, Production Wells)
[275 Pages Report] According to Persistence Market Research, the global market for Industrial Carbon Dioxide would be worth US$ 5,238.2 Mn in 2023. Industrial Carbon Dioxide sales potentials are anticipated to grow significantly at a 3.2% CAGR and reach a market value of US$ 7,177.6 Mn by 2033. During the projected period, the market is anticipated to grow with the growth in the food and beverages industry.
|
Market Size 2023 |
US$ 5,238.2 Mn |
|
Market Size 2033 |
US$ 7,177.6 Mn |
|
Value CAGR (2023-2033) |
3.2% |
|
Collective Value Share: Top 3 Countries (2023E) |
35-40% |
There are three main types of carbon dioxide – gaseous carbon dioxide, solid carbon dioxide, and liquid carbon dioxide. Liquid carbon dioxide is carbon dioxide gas that has undergone a great deal of compression and cooling. In addition to other compounds, the sources include hydrogen, ethanol, ethylene oxide, and natural gas replacements. It is widely used in the food industry to decaffeinate coffee by removing the caffeine from the coffee beans and carbonated soft drinks and beer. Among the numerous applications involved are those for oil & gas, food & beverages, medicinal, fire-fighting, rubber, etc.
FREE Report Sample is Available
In-depth report coverage is now just a few seconds away
Get FREE Report Sample
Between 2017 and 2022, the market for Industrial Carbon Dioxide is anticipated to expand at a CAGR of 2.6%. In addition, current forecasts indicate that between 2023 and 2033, the growth prognosis for Industrial Carbon Dioxide would remain at 3.2%. A slight reduction in growth rate during the historical period can be attributed to the global economic crisis and the decline in chemical sales that took place as the raw material shortage peaked during the Covid-19 outbreak.
However, with increased demand from end-use industries, the market is anticipated to rise significantly over the course of the projected period. Apart from the food and beverages industry, greenhouse gas is used as an acidifier in water treatment applications, and as inert gas during solvent recovery, metalworking, and freezing applications. It is one of the most widely used fire extinguisher gas used for industrial applications. Hence, the demand for carbon dioxide in industrial applications is expected to undergo a high growth rate in the forecast period.
Make This Report Your Own
Take Advantage of Intelligence Tailored to your Business Objective
Get a Customized VersionHow are oil & gas industries are driving the requirement for industrial carbon dioxide?
The rising need for carbon dioxide in the oil & gas industry for the extraction of oil is predicted to hasten market expansion. Carbon dioxide gas is employed in enhanced oil recovery (EOR), a technique for increasing the amount of crude oil extracted from oil fields. An oil reservoir is filled with high-pressure carbon dioxide, which forces the oil via pipelines and toward the surface of the ground. carbon dioxide gas injection helps in oil recovery and reduces the viscosity of recovered oil.
How is the rising consumption of synthetic fuel propelling the demand for carbon dioxide?
Synthetic fuels derived from carbon dioxide include a wide range of goods that can be produced utilizing carbon dioxide as a feedstock. Among these are well-known, frequently utilized products like methanol, methane, and syngas, which can either be used as fuel or as a precursor to the production of carbon monoxide. It creates a number of extra fuels that are compatible with the existing infrastructure, such as gasoline, diesel, and aviation fuel. It is frequently more expensive and challenging to transport and store power and hydrogen than to use the current infrastructure.
The bulk of fuels made from carbon dioxide is used in the transport sector (for instance, methanol and gasoline), although certain fuels, like methane, have many applications in the power, heating, and industrial sectors. They are especially helpful in industries like aviation where carbon-containing fuels will continue to play a big role because it is highly challenging to use non-carbon energy carriers, such as hydrogen or electricity. As a result, the demand spectrum for carbon dioxide-based fuels will alter as demand increases across numerous industry verticals.
What are the barriers to the growth of industrial carbon dioxide market?
The industrial carbon dioxide market has multiple barriers due to its high cost of production – capture and liquefaction, and transportation. Carbon dioxide can be transported in solid, liquid, or gaseous form using a number of means, including pipelines, motor vehicles, trains, and ships. Transporting carbon dioxide in solid form requires more energy than other methods, making it neither practical nor cost-effective. However, the most profitable method of moving large quantities of carbon dioxide is through pipelines. Pipelines must be compressed, and liquefying carbon dioxide for ship transit requires a lot of electrical energy.
Government agencies from throughout the world have created a number of guidelines for the secure transport and storage of carbon dioxide. These rules also have an effect on transportation costs. It is projected that the high cost of transportation will have an effect on manufacturers' profit margins and limit market growth.
What is the preferred source material used for manufacturing industrial carbon dioxide?
“High availability and easy processing makes ethanol a preferred source material for manufacturing of industrial carbon dioxide”
On the basis of source, ethanol is highly preferred for the manufacturing of carbon dioxide worldwide. In 2023, the segment is anticipated to hold an approximately one-thrid market share of industrial carbon dioxide by source.
The immense availability of ethanol as a consistent and long-lasting source for producing high-value carbon dioxide as a byproduct is to blame for the growth of this sector. The rising global demand for food-grade carbon dioxide is also projected to stimulate the production of carbon dioxide from ethanol in the future years.
Which end-use industry dominates the consumption of industrial carbon dioxide?
“Food & Beverages is a prominent end-use industry, anticipated to dominate the market by consumption in forecast period”
In terms of the end-use industry, the food & beverages industry is anticipated to dominate the consumption of the global industrial carbon dioxide market accounting for around 35% of the market share. Worldwide demand for carbonated beverages is driving the demand from this segment.
Apart from this, Carbon dioxide is widely used in modified atmospheric packaging (MAP), which extends the shelf life of food products. Additionally, cryogenic freezing systems provide more temperature flexibility than mechanical refrigeration systems. These factors are also likely to have a significant impact on the use of carbon dioxide in food and beverage applications in the near future.
Sales Team
Client Partner
Which country leads the global industrial carbon dioxide market?
“U.S. is estimated to lead the global industrial carbon dioxide market by value”
In terms of value, the U.S. is anticipated to dominate the consumption of the global carbon dioxide market. The U.S. market is highly mature and rapidly evolving toward sustainable technologies. This is the key reason behind the high consumption of carbon dioxide from U.S. industries.
The expansion of the united state’s industrial sector is anticipated to fuel the regional market development. The rapidly expanding healthcare industry in the country is anticipated to promote the usage of carbon dioxide during operations to stabilize the body cavity and expand the operating surface areas. Due to this research and high-caliber applications of carbon dioxide in a variety of industries, it is predicted that the demand for industrial carbon dioxide would rise during the projected period.
Which are the key Asia-Pacific countries in the industrial carbon dioxide market?
“India & China are expected to drive the demand for carbon dioxide in asia-pacific region”
In the Asia-Pacific region, China and India dominate the market for industrial carbon dioxide by consumption. The food & beverages industry in the region is gaining traction for the use of carbon dioxide, due to the high demand for carbonated food products. The huge population in the countries and rising urbanization are driving the demand for beverages in the country.
Apart from this, for industrial firefighting applications, carbon dioxide-based fire extinguishers are the most-liked choice due to their low cost, low maintenance, and easy-to-use characteristics. Owing to the same reasons, the market for industrial carbon dioxide is expected to grow with a higher CAGR in China & India as compared to other countries in the Asia-Pacific region.
Which European country is anticipated to create lucrative market opportunities for the industrial carbon dioxide market?
“Owing to significant investments in research and development Germany is anticipated to lead the industrial carbon dioxide market in Europe”
In Europe, Germany is anticipated to lead the industrial carbon dioxide market by consumption. Several investments in research and development of carbon dioxide-based technologies are expected to bolster the market in the forecast period. For instance, Bayer, a prominent German chemical corporation, is working on a technique to make polyurethane foams using carbon dioxide, which is presenting the market with enormous growth prospects.
Also, carbon dioxide is used in various end-use industries in German industries for the manufacturing of foams, adhesives, and other materials for automotive and aerospace applications. Additionally, he food & beverages industry in the country is anticipated to create lucrative market opportunities for the carbon dioxide market.
Key manufacturers in the industrial carbon dioxide industry are emphasizing delivering long-term value to shareholders in order to grow and stay competitive. The development of sound, low-risk strategies that will provide a sizeable profit margin and give their stockholders a strong foundation is a priority for major corporations. Companies are focusing more on strategically producing industrial carbon dioxide using cutting-edge sourcing-automation production processes as a result of increased end-user demand to balance the demand-supply imbalance. A further factor driving industry participants to focus on developing such solutions to lower carbon emissions is the growing demand for Carbon Capture Storage (CCS).
Some of the key developments in Industrial carbon dioxide market are:
Similarly, more developments related to companies manufacturing Industrial Carbon Dioxide are been tracked by the team at Persistence Market Research, which is available in the full report.
|
Attribute |
Details |
|
Forecast Period |
2023-2033 |
|
Historical Data Available for |
2017-2022 |
|
Market Analysis |
|
|
Key Countries Covered |
|
|
Key Segments Covered |
|
|
Key Companies Profiled |
|
|
Report Coverage |
|
|
Customization & Pricing |
Available Upon Request |
By Source:
By Application:
By End Use:
By Region:
The global market of Industrial Carbon Dioxide is estimated to reach a valuation of US$ 5,238.2 Mn in 2023.
The Industrial Carbon Dioxide demand is anticipated to witness a growth rate of 3.2% over the forecast period of 2023 and 2033 in terms of value.
Robust Growth in Demand from the food & beverages industry is the key driving factor for the Industrial Carbon Dioxide market.
According to PMR analysis, Air Liquide, Abdullah Hashim Industrial & Equipment Co., Bristol Gases - Concorde Corodex Group, Dubai Industrial Gases, Mohsin Haider Darwish LLC, and Ellenbarrie Industrial Gases Ltd are identified as the key manufacturers in the Industrial Carbon Dioxide market.
Key players in the global Industrial Carbon Dioxide market are expected to account for about 25-30% of the overall market share.
The top countries driving the global Industrial Carbon Dioxide demand are U.S., China, India, and Germany.
