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Carbon Dioxide Market Overview By Size, Share, Trends, Growth Factors, Historical Analysis

The global carbon dioxide market size is predicted to reach USD 12.15 Billion by 2027, exhibiting a CAGR of 2.5% during the forecast period. The growing construction of water treatment plants in developing nations will spur the demand of the market in the forthcoming years. The rising oil exploration and drilling activities will necessitate the use of solvents in the process, which, in turn, will boost the carbon dioxide market growth during the forecast period, states Fortune Business Insights


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Ashwini Bhamare

4 months ago | 3 min read
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The global carbon dioxide market size is predicted to
reach USD 12.15 Billion by 2027, exhibiting a CAGR of 2.5% during the forecast
period. The growing construction of water treatment plants in developing
nations will spur the demand of the market in the forthcoming years. The rising
oil exploration and drilling activities will necessitate the use of solvents in
the process, which, in turn, will boost the carbon dioxide market growth during
the forecast period, states Fortune Business Insights in a report, titled “Carbon
Dioxide Market Size, Share & Industry Analysis, By End-Use Industry (Food
& Beverage, Oil & Gas, Metal Fabrication, Medical, and Others), and
Regional Forecast, 2020-2027” the market size stood at USD 10.00
Billion in 2019



 



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Market Driver:



Heavy Demand for CO2 in Oil and Gas Industry
to Enhance Market Potential



The growing utilization of carbon capture and storage (CCS)
technology for the procurement of CO2 from the carbon emissions
produced by biomass power plants, cement manufacturing, and consumption of
fossil fuels for electricity generation will contribute effectively to the
growth of the market. This process also aids in lowering carbon emission in the
atmosphere and preventing air pollution. The increasing application of carbon
dioxide in the oil & gas industry for enhanced oil recovery will incite the
practice of CCS technology for capturing CO2.  The growing
cognizance about the benefits of CCS such as, reduced CO2 emissions,
positive environmental impact, and maintain ecological balance will escalate
the adoption of the is technology. In addition, the rising implementation of carbon
capture and storage (CCS) technology around the globe can be an essential
factor in bolstering the growth of the market in the foreseeable future.



Regional Analysis:



Advancement in Carbon Attainment Methods to Aid Expansion in North
America



 



The market in Asia Pacific stood at USD 3.62 Billion in 2019 and
is likely to witness a high growth rate during the forecast period owing to the
demand from the food & beverage and medical industry in the developing
nations. For instance, China is one of the biggest suppliers of carbon dioxide
around the world. The developing medical industry in India will promote the
growth of the market in the region. The market in North America is predicted to
rise tremendously during the forecast period due to the high demand for CO2 in
oil recovery applications.  The increasing initiatives for the use of
carbon dioxide in various industrial applications will enable speedy growth of
the market in the region. Moreover, the technological advancement in CO2 extraction
methods will aid growth in North America. The market in Europe is likely to
account for a significant share in the forthcoming years. The growth in the
region is attributed to the use of carbon dioxide in alcoholic and
non-alcoholic beverages in the food & beverage industry. Therefore, the
demand for carbonated beverages will propel the market in the region. The
market in Latin America and the Middle East & Africa is predicted to grow
rapidly during the forecast period owing to the rising oil & gas
exploration activities. The rising consumption of carbon dioxide in oil
recovery activities to boost the market in the Middle East and Africa.



 



Key Development:



 



March 2019: Air Products announced that
it has acquired ACP Europe SA, one of the largest biggest carbon dioxide manufacturers
in Europe. The acquisition will aid the company to cater to the demand for
carbon dioxide and better serve its customer across the European continent.



 



The Report Lists the Main Companies in the Carbon Dioxide
Market:



 




  • Linde plc
    (Ireland)

  • Air Products and
    Chemicals, Inc. (U.S.)

  • Air Liquide
    (France)

  • Sicgil India
    limited (India)

  • Matheson
    Tri-Gas, Inc.(U.S.)

  • Universal
    Industrial Gases, Inc.(U.S.)

  • The Messer Group
    GmbH (Germany)

  • SOL Spa (Italy)

  • POET, LLC(U.S.)

  • Reliant
    Gases(U.S.)

  • India
    Glycols Limited (India)



 



 







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