Covid-19 Impact on Carbon Dioxide Market:The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, and construction materials are facing a diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Carbon Dioxide Market Overview The global carbon dioxide market was valued at USD 7.30 billion in 2021 and is expected to grow at a CAGR of 4.5% during the forecast period 2023-2030
The global carbon dioxide/CO2 market is showing sluggish growth and a moderate increase in its valuation for the next few years. Increasing demand for CO2 in the healthcare sector is a key fact which contributing more to the market’s growth. Also, the growing demand for aerated drinks will directly increase the demand for food-grade carbon dioxide. Eventually, it boosts the growth of the market during the forecast period.
Additionally, technological advancement plays an important role in the market’s growth so, increasing investment towards this goal also drives the market in a fruitful direction in the future. Also, Enhanced oil recovery ( EOR) has been establishing a significant road map for market growth in the coming years. As well, the global carbon dioxide market is mainly driven by the expansion in end-use industries. carbon dioxide has huge demand in end-use industries due to its use in a different application.
On the downside, factor such as transportation of CO2 involves high maintenance cost, and risk of CO2 leakage in the atmosphere are hampering the growth of the market. In addition, protocols such as the Kyoto Protocol which commits the involved countries to limit the emission of greenhouse gases will also deter the growth of the market in the forthcoming years.
Carbon Dioxide Market Segment OverviewThe Food & Beverages segment has the largest share of the market. In the Food & Beverages industry, CO2 is mostly used for the carbonation of drinks, freezing poultry and food products as well as control of pH level. Changing lifestyles of people leads to rise in demand for ready-to-make and frozen foods, which increases the consumption of CO2. Moreover, the massively increasing population across the world has boosted the demand for Food & Beverages, which will be enhancing the growth of the carbon dioxide market in the coming years. In addition, the medical segment is also the fastest-growing application segment in the market. CO2 is used in surgeries, such as arthroscopy laparoscopy, and endoscopy, to stabilize body cavities and to expand the surgical surface area.
Carbon Dioxide Market Regional OverviewNorth America commanded a major share of the market and is predictable to maintain its supremacy over the forecast period. This is due to the major contribution in terms of revenue from the US and Canada. These countries are consuming a huge amount of co2 for Enhanced Oil Recovery Processes. Then again, the market of the Asia Pacific is projected to grow at the fastest rate owing to the vast expansion of end-use industries in the region. China will be a prominent contributor to the region’s growth, being a main consumer of CO2.
Carbon Dioxide Market Competitor overview· In March 2019, Air Products acquired ACP Europe SA (ACP), the largest independent carbon dioxide (CO₂) business in Continental Europe. This acquisition enables the company to better serve existing customers and pursue new industrial gas growth opportunities across additional European geographies.
· In October 2018, Linde plc announced the successful completion of the business combination between Praxair and Linde AG.
Carbon Dioxide Market, Key Players· Universal Industrial Gases, Inc.
· The Linde Group
· Air Products and Chemicals, Inc.
· INOX Air Products Ltd.
· Continental Carbonic Products, Inc.
· Matheson Tri-Gas, Inc.
· Air Liquide International S.A.
· Praxair Inc
· Gulf Cryo
· Bristol Gases – Concorde Corodex Group
· Buzwair Industrial Gases Factory
· Dubai Industrial Gases
Carbon Dioxide Market SegmentationCarbon Dioxide Market, By Source
· Hydrogen
· Ethyl Alcohol
· Ethylene Oxide
· Substitute Natural Gas
· Others
Carbon Dioxide Market, By Application
· Food & Beverages
· Oil & Gas
· Medical
· Rubber
· Fire Fighting
· Others
Carbon Dioxide market, By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
List of Figures
Figure 1: Global Carbon Dioxide Market Revenue Breakdown (USD Billion, %) by Region, 2023 & 2030
Figure 2: Global Market Value Share (%), By Segment 1, 2023 & 2030
Figure 3: Global Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 4: Global Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 5: Global Market Value Share (%), By Segment 2, 2023 & 2030
Figure 6: Global Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 7: Global Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 8: Global Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 9: Global Carbon Dioxide Market Forecast (USD Billion), by Others, 2021-2030
Figure 10: Global Market Value Share (%), By Segment 3, 2023 & 2030
Figure 11: Global Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 12: Global Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 13: Global Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 14: Global Market Forecast (USD Billion), by Others, 2021-2030
Figure 15: Global Market Value (USD Billion), by Region, 2023 & 2030
Figure 16: North America Carbon Dioxide Market Value Share (%), By Segment 1, 2023 & 2030
Figure 17: North America Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 18: North America Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 19: North America Market Value Share (%), By Segment 2, 2023 & 2030
Figure 20: North America Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 21: North America Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 22: North America Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 23: North America Market Forecast (USD Billion), by Others, 2021-2030
Figure 24: North America Market Value Share (%), By Segment 3, 2023 & 2030
Figure 25: North America Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 26: North America Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 27: North America Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 28: North America Market Forecast (USD Billion), by Others, 2021-2030
Figure 29: North America Market Forecast (USD Billion), by U.S., 2021-2030
Figure 30: North America Market Forecast (USD Billion), by Canada, 2021-2030
Figure 31: Latin America Carbon Dioxide Market Value Share (%), By Segment 1, 2023 & 2030
Figure 32: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 33: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 34: Latin America Market Value Share (%), By Segment 2, 2023 & 2030
Figure 35: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 36: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 37: Latin America Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 38: Latin America Market Forecast (USD Billion), by Others, 2021-2030
Figure 39: Latin America Market Value Share (%), By Segment 3, 2023 & 2030
Figure 40: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 41: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 42: Latin America Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 43: Latin America Market Forecast (USD Billion), by Others, 2021-2030
Figure 44: Latin America Market Forecast (USD Billion), by Brazil, 2021-2030
Figure 45: Latin America Market Forecast (USD Billion), by Mexico, 2021-2030
Figure 46: Latin America Market Forecast (USD Billion), by Rest of Latin America, 2021-2030
Figure 47: Europe Carbon Dioxide Market Value Share (%), By Segment 1, 2023 & 2030
Figure 48: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 49: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 50: Europe Market Value Share (%), By Segment 2, 2023 & 2030
Figure 51: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 52: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 53: Europe Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 54: Europe Market Forecast (USD Billion), by Others, 2021-2030
Figure 55: Europe Market Value Share (%), By Segment 3, 2023 & 2030
Figure 56: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 57: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 58: Europe Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 59: Europe Market Forecast (USD Billion), by Others, 2021-2030
Figure 60: Europe Market Forecast (USD Billion), by U.K., 2021-2030
Figure 61: Europe Market Forecast (USD Billion), by Germany, 2021-2030
Figure 62: Europe Market Forecast (USD Billion), by France, 2021-2030
Figure 63: Europe Market Forecast (USD Billion), by Italy, 2021-2030
Figure 64: Europe Market Forecast (USD Billion), by Spain, 2021-2030
Figure 65: Europe Market Forecast (USD Billion), by Russia, 2021-2030
Figure 66: Europe Market Forecast (USD Billion), by Rest of Europe, 2021-2030
Figure 67: Asia Pacific Carbon Dioxide Market Value Share (%), By Segment 1, 2023 & 2030
Figure 68: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 69: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 70: Asia Pacific Market Value Share (%), By Segment 2, 2023 & 2030
Figure 71: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 72: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 73: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 74: Asia Pacific Market Forecast (USD Billion), by Others, 2021-2030
Figure 75: Asia Pacific Market Value Share (%), By Segment 3, 2023 & 2030
Figure 76: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 77: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 78: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 79: Asia Pacific Market Forecast (USD Billion), by Others, 2021-2030
Figure 80: Asia Pacific Market Forecast (USD Billion), by China, 2021-2030
Figure 81: Asia Pacific Market Forecast (USD Billion), by India, 2021-2030
Figure 82: Asia Pacific Market Forecast (USD Billion), by Japan, 2021-2030
Figure 83: Asia Pacific Market Forecast (USD Billion), by Australia, 2021-2030
Figure 84: Asia Pacific Market Forecast (USD Billion), by Southeast Asia, 2021-2030
Figure 85: Asia Pacific Market Forecast (USD Billion), by Rest of Asia Pacific, 2021-2030
Figure 86: Middle East & Africa Carbon Dioxide Market Value Share (%), By Segment 1, 2023 & 2030
Figure 87: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 88: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 89: Middle East & Africa Market Value Share (%), By Segment 2, 2023 & 2030
Figure 90: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 91: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 92: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 93: Middle East & Africa Market Forecast (USD Billion), by Others, 2021-2030
Figure 94: Middle East & Africa Market Value Share (%), By Segment 3, 2023 & 2030
Figure 95: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 96: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 97: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 98: Middle East & Africa Market Forecast (USD Billion), by Others, 2021-2030
Figure 99: Middle East & Africa Market Forecast (USD Billion), by GCC, 2021-2030
Figure 100: Middle East & Africa Market Forecast (USD Billion), by South Africa, 2021-2030
Figure 101: Middle East & Africa Market Forecast (USD Billion), by Rest of Middle East & Africa, 2021-2030
List of Tables
Table 1: Global Carbon Dioxide Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 2: Global Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 3: Global Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 4: Global Market Revenue (USD Billion) Forecast, by Region, 2021-2030
Table 5: North America Carbon Dioxide Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 6: North America Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 7: North America Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 8: North America Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 9: Europe Carbon Dioxide Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 10: Europe Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 11: Europe Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 12: Europe Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 13: Latin America Carbon Dioxide Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 14: Latin America Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 15: Latin America Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 16: Latin America Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 17: Asia Pacific Carbon Dioxide Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 18: Asia Pacific Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 19: Asia Pacific Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 20: Asia Pacific Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 21: Middle East & Africa Carbon Dioxide Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 22: Middle East & Africa Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 23: Middle East & Africa Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 24: Middle East & Africa Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Research Process
Data Library Research are conducted by industry experts who offer insight on
industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager
and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Primary Research
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary Research
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size Estimation
Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
