Carbon Dioxide Market Is Expected To Expand At A CAGR Of 7.3% From 2022 To 2030

 Carbon Dioxide Industry Overview

The global carbon dioxide market size was valued at USD 3.68 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030. Increasing utilization of Carbon Dioxide (CO2) for Enhanced Oil Recovery (EOR) and its surging usage in food & beverages and medical industries are anticipated to fuel the growth of the global market during the forecast period. Depleting oil reserves and increasing dependence of different regions, especially in Asia Pacific, on crude oil imports have increased the deployment of enhanced oil recovery technology, thereby fueling the growth of the market. The U.S. is one of the largest markets for carbon dioxide in the world. The market in this country is projected to grow at a CAGR of 7.2% over the forecast period in terms of revenue. The growth of the market in the U.S. can be attributed to the ongoing industrialization and the flourishing oil & gas industry in the country.

Carbon dioxide gas is widely consumed in the oil & gas industry in the U.S. for enhanced oil recovery. The use of this gas eases the flow of oil and reduces the viscosity of the extracted oil. The carbon dioxide flooding technique is used to enhance the quality of extracted light and heavy oils.

Gather more insights about the market drivers, restrains and growth of the Global Carbon Dioxide market

 

Increased investments in the development of advanced technologies related to enhanced oil recovery and Carbon Capture & Storage (CCS) have surged the demand for carbon dioxide in the U.S. The prevailing trends related to the enhanced oil recovery market in different states of the country suggest a significant rise in the number of carbon dioxide-enhanced oil recovery projects in the U.S. in the coming years. Increasing enhanced oil recovery activities and rising demand for carbon capture & storage in the country are projected to promote the product demand in the U.S. from 2022 to 2030.

 

The medical industry in the U.S. is anticipated to grow significantly over the forecast period owing to the increasing elderly population and growing health concerns among the masses in the country. The flourishing medical industry in the U.S. is anticipated to favor the market growth in the country as carbon dioxide is used in a wide range of medical applications, including transient respiratory stimulation. It is also used to encourage deep breathing and coughing in patients to treat atelectasis.


Browse through Grand View Research's Conventional Energy Industry Research Reports.

  • Coal Handling Equipment Market - The global coal handling equipment market is expected to witness a brisk growth owing to increasing efficiency criterion for the industry over the forecast period. Coal undergoes several phases such as preparation and handling phases during power generation operations. Such variety of operations demands an efficient and smooth material flow and quality management system.

 

  • Aerospace And Defense Fuel Market - The global aerospace and defense (A&D) fuel market size was valued at around USD 8.4 billion in 2014 and is expected to grow at an estimated CAGR of over 6% from 2015 to 2022. Global economic growth, increasing entry of low-cost airlines, and rising aircraft demand from emerging economies, such as China and India, are expected to foster industry growth.

 

Carbon Dioxide Market Segmentation

Grand View Research has segmented the global carbon dioxide market based on source, application, and region:

Carbon Dioxide Source Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • Hydrogen
  • Ethyl Alcohol
  • Ethylene Oxide
  • Substitute Natural Gas
  • Others

Carbon Dioxide Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • Food & Beverages
  • Oil & Gas
  • Medical
  • Rubber
  • Firefighting
  • Others

Carbon Dioxide Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies profiled:

Some prominent players in the global carbon dioxide market include:

  • Acail Gás 
  • Air Liquide
  • Air Products and Chemicals, Inc.
  • Greco Gas Inc.
  • Linde AG
  • Messer Group
  • Sicgil India Limited
  • SOL Group
  • Strandmøllen A/S
  • Taiyo Nippon Sanso Corporation

 

Order a free sample PDF of the Carbon Dioxide Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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