Carbon dioxide is a greenhouse gas that is essential for the Earth’s ecology and can be recovered from flue gases, as a by-product of hydrogen production for ammonia synthesis, limekilns, and a variety of other sources. The market has been gradually developing for the past half-decade, thanks to increased demand from metal manufacturing and fabrication, food and packaging, oil and gas, and other associated industries.
From 2021 to 2031, the worldwide carbon dioxide (CO2) market is predicted to grow at a CAGR of over 8%. With a global market share of over 40%, the food and beverage industry is the largest end user of carbon dioxide.
Key Market Segments Covered in Report
- By Production
- By Delivery
- By End Use
- Metal Manufacturing & Fabrication
- Food & Beverages
- Pulp & Paper
- Oil & Gas
- Other Industrial
What factors are influencing carbon dioxide consumption in other Asian countries?
Due to rising consumer demand, APEC has a moderate proportion of the global market, with ASIAN and India being the most major participants. Increasing carbon dioxide demand from metal manufacturing and fabrication, as well as ongoing operations connected to highly marketable oil and gas projects, will drive market growth in the APEC region during the forecast period.
What are the main challenges that carbon dioxide producers face?
The GHGs (Green House Gases) rule in various regions is one of the key issues faced by carbon dioxide manufacturers. Carbon dioxide generation is being hampered by strict rules. Regulatory organisations in different parts of the world are aiming to reduce carbon emissions by 2050.