info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Industrial Carbon Dioxide Market Research Report: By Application (Food Processing, Chemical Manufacturing, Metallurgical Processes, Healthcare, Agriculture), By End Use (Food and Beverage, Petrochemical, Metal Fabrication, Water Treatment, Pharmaceutical), By Form (Liquid, Gas, Solid), By Production Method (Fermentation, Gas Processing, Chemical Looping, Air Separation) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032


ID: MRFR/CnM/34498-HCR | 100 Pages | Author: Chitranshi Jaiswal| November 2024

Global Industrial Carbon Dioxide Market Overview


As per MRFR analysis, the industrial carbon dioxide market size was estimated at 27.06 (USD billion) in 2022. The industrial carbon dioxide market is expected to grow from 27.86 (USD billion) in 2023 to 36.2 (USD billion) by 2032. The industrial carbon dioxide market CAGR (growth rate) is expected to be around 2.95% during the forecast period (2024 - 2032).


Key Industrial Carbon Dioxide Market Trends Highlighted


The Industrial Carbon Dioxide Market is driven by several key factors. One major driver is the increasing demand for carbon dioxide in various industries, including food and beverage, chemicals, and agriculture.


The use of carbon dioxide in these sectors enhances product preservation, aids in the production of bulk chemicals, and supports enhanced crop yields.


Additionally, growing environmental concerns and the need for carbon capture and storage technologies are pushing industries to utilize CO2 more efficiently. This creates opportunities for the development of innovative processes that can reduce carbon emissions while meeting demand.


Investors and businesses can explore numerous opportunities within this market. The rising focus on sustainability is prompting industries to seek out more eco-friendly practices and technologies. Innovations like carbon capture utilization and storage (CCUS) not only help in reducing emissions but also allow companies to create new revenue streams from captured CO2.


There is also significant potential for developing alternative applications, such as in pharmaceuticals and energy production, where carbon dioxide can play a beneficial role. Recently, the market has witnessed notable trends, such as the adoption of advanced technologies for CO2 purification and recovery.


Companies are increasingly investing in research and development to improve efficiency in CO2 extraction processes and to enhance the purity levels of carbon dioxide produced. Moreover, the trend toward collaborations and partnerships among industry players is gaining momentum.


This is aimed at sharing knowledge and investing in joint projects that can foster innovation and lead to breakthrough applications of carbon dioxide across various sectors, further solidifying its role in industrial applications.


Industrial Carbon Dioxide Market Overview


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Industrial Carbon Dioxide Market Drivers


Growing Demand from the Food and Beverage Industry


The Industrial Carbon Dioxide Market is significantly driven by the increasing demand for carbon dioxide in the food and beverage sector.


Carbon dioxide is primarily employed in food preservation, carbonation of beverages, and as a refrigerant in food processing facilities. With the rise of the global population, there is an accelerated demand for packaged and carbonated drinks, as well as efficient preservation methods to extend shelf-life and maintain food quality.


As consumers become more health-conscious and seek out foods with longer shelf lives, industries are leveraging carbon dioxide in various applications to meet these demands.


The requirement for safe and long-lasting food products translates into continuous growth in the Industrial Carbon Dioxide Market. Furthermore, the beverage industry is experiencing innovations that incorporate carbon dioxide in new formulations, thus expanding the applications and driving the market forward.


Additionally, rapid urbanization and changing dietary patterns globally are contributing to the surge in carbon dioxide utilization, pushing market growth and enhancing its future prospects in various regional markets.


Industrial Applications and Enhanced Production Processes


The Industrial Carbon Dioxide Market is propelled by its extensive use in various industrial applications. Carbon dioxide is utilized as an inert gas in chemical manufacturing, pharmaceuticals, and metal fabrication processes.


The drive for enhanced production techniques that ensure efficiency and safety in manufacturing is leading industries to increasingly adopt carbon dioxide in operations, providing a significant growth opportunity for the market.


The rise of industries looking to optimize their processes and reduce waste while maintaining product quality is creating robust demand for carbon dioxide in production applications.


Environmental Regulations and Sustainable Practices


The Industrial Carbon Dioxide Market is witnessing growth due to heightened environmental regulations and the push for sustainable practices. Governments and organizations worldwide are spearheading initiatives to reduce carbon footprints, leading industries to explore the use of industrial carbon dioxide as a less harmful alternative or a means of reducing waste emissions.


This trend is pushing companies to innovate and adopt greener technologies, thus favorably influencing the market trajectory and ensuring compliance with evolving regulations.


Industrial Carbon Dioxide Market Segment Insights:


Industrial Carbon Dioxide Market Application Insights


The Industrial Carbon Dioxide Market has seen considerable activity within the application segment, reflecting diverse utilization across various industries.


Within this segment, the food processing area held significant importance, valued at 6.5 USD billion and expected to grow to 8.5 USD billion by 2032. This growth is primarily due to the essential role of carbon dioxide in food preservation, carbonation, and refrigeration, which drives its demand among food and beverage manufacturers.


The chemical manufacturing sector also showcased a substantial presence, valued at 8.0 USD billion in 2023 and projected to increase to 10.5 USD billion by 2032. The necessity of CO2 in producing chemicals, including urea, methanol, and others, establishes its dominance in industrial applications, reflecting its integral relationship with chemical synthesis and processing.


In addition, metallurgical processes, with a valuation of 5.0 USD billion in 2023, highlighted the use of carbon dioxide in processes such as steelmaking to enhance production efficiency and reduce emissions.


Moving to the healthcare sector, valued at 3.0 USD billion, applications include its use in medical imaging and anesthesia, emphasizing the critical role of CO2 in maintaining patient safety and care quality in healthcare settings.


Furthermore, the agriculture market, valued at 5.36 USD billion, showcased significant growth potential as CO2 is utilized for greenhouse cultivation and enhancing crop yield through enriched growth environments.


The diverse applications of carbon dioxide across these sectors illustrate the multifaceted nature of its use, where food processing and chemical manufacturing continue to dominate the landscape as major contributors to the overall market revenue.


The inherent dependency on carbon dioxide in these processes underlines the growth drivers within the Industrial Carbon Dioxide Market while also presenting various challenges and opportunities that come with evolving environmental regulations and the pursuit of more sustainable industrial practices.


With ongoing advancements and innovations, the prospects for the carbon dioxide market remain promising, underscoring its essential role in various sectors and the ongoing demand for efficient and sustainable solutions in industrial applications.


Industrial Carbon Dioxide Market Application Insights


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Industrial Carbon Dioxide Market End Use Insights


The Industrial Carbon Dioxide Market is expected to see substantial growth driven by various end-use applications.


Among the key areas, the food and beverage industry played a vital role due to its reliance on carbon dioxide for preservation and carbonation processes, which enhance product longevity and flavor. The petrochemical sector is another major contributor, utilizing carbon dioxide in the production of chemicals, reinforcing its significance in industrial processes.


Moreover, the metal fabrication industry leverages carbon dioxide to protect molten metal during welding, ensuring product integrity and quality. Water treatment also benefits from carbon dioxide, primarily used for ph control and to facilitate algae removal, thereby promoting cleaner ecosystems.


Lastly, in pharmaceutical applications, carbon dioxide is crucial for maintaining the stability of certain medications and therapeutic processes. Overall, these diverse applications underscore the importance of the Industrial Carbon Dioxide Market revenue, with preferences shaping market trends and contributing to its steady growth trajectory.


As strategies evolve, new opportunities for efficiency advancements within the Industrial Carbon Dioxide Market continue to emerge.


Industrial Carbon Dioxide Market Form Insights


The Industrial Carbon Dioxide Market is reflecting a steady demand across its diverse forms, including liquid, gas, and solid. The liquid form is significant as it is widely utilized in industries such as food and beverage for carbonating products, enhancing its importance in market dynamics.


Gas form dominates the market due to its versatility in applications ranging from welding to refrigeration, establishing a critical role in various industrial processes. Moreover, the solid form, primarily in the production of dry ice, caters to specific requirements in logistics and event management, illustrating its niche market appeal.


The segmentation of the Industrial Carbon Dioxide Market enables a deep understanding of the prevalent trends and growth drivers, as well as the opportunities presented by emerging technologies.


The market growth, driven by rising industrial applications and environmentally friendly alternatives, also faces challenges like stringent regulations and competition from alternative sources. However, the overall prognosis for the Industrial Carbon Dioxide Market data remains positive, suggesting that demand will continue to rise.


Industrial Carbon Dioxide Market Production Method Insights


The Industrial Carbon Dioxide Market reflects significant growth and diversification, especially in the production method segment, which includes techniques such as fermentation, Gas processing, chemical looping, and air separation.


Fermentation is pivotal as it largely contributes to bio-based CO2 production, crucial for the food and beverage industry. Gas processing is vital for enhancing the quality and recovery of CO2 from natural gas supplies, showcasing its importance in energy sectors.


Chemical looping stands out due to its potential in capturing and recycling CO2 emissions, addressing environmental concerns effectively. Lastly, air separation technology dominates by efficiently isolating CO2 and is remarkably significant in applications like carbon capture and storage.


The synergy among these production methods is expected to drive the Industrial Carbon Dioxide Market revenue, with their respective contributions aligning with market trends towards sustainability and efficiency, thereby presenting various growth opportunities and challenges within the industry as it evolves.


Industrial Carbon Dioxide Market Regional Insights


The Industrial Carbon Dioxide Market exhibits a diverse regional segmentation, reflecting varied market dynamics across different areas.


In 2023, North America held a majority share with a valuation of 10.4 USD billion, expected to rise to 13.7 USD billion by 2032, showcasing the region's significant industrial activities and demand for carbon dioxide in sectors like food and beverage, healthcare, and manufacturing.


Europe followed closely, characterized by strong regulations and advancements in technology, with a market value of 8.3 USD billion in 2023 and a projected increase to 10.4 USD billion. The APAC region, valued at 6.5 USD billion in 2023, is anticipated to see growth driven by industrialization and urbanization, reaching 8.3 USD billion by 2032.


South America and MEA demonstrated smaller market footprints, with valuations of 1.9 USD billion and 0.8 USD billion in 2023, respectively, indicating emerging markets with growth potential but limited current industrial carbon dioxide adoption.


The growth in these regions reflects opportunities for expansion, driven by rising industrial needs and advancements in carbon capture technologies, while challenges include regulatory pressures and market competition.


Overall, the regional insights into the Industrial Carbon Dioxide Market reveal diverse opportunities influenced by local industrial trends and growth drivers.


Industrial Carbon Dioxide Market Regional Insights


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Industrial Carbon Dioxide Market Key Players and Competitive Insights:


The Industrial Carbon Dioxide Market is characterized by a competitive landscape shaped by various players vying for dominance through innovative products, strategic partnerships, and market expansions.


As industrial applications for carbon dioxide continue to diversify, ranging from enhanced oil recovery to the food and beverage sector, companies are increasingly focusing on operational efficiencies, sustainability, and technological advancements to meet the rising demand.


The competition is marked by the need for firms to not only provide high-quality CO2 but also to adapt to varying customer needs across different regions, which creates a dynamic environment where market players must remain agile and responsive.


The market is further influenced by regulatory frameworks aimed at controlling emissions, leading to an emphasis on environmentally friendly practices among leading firms. Digital Carbon has emerged as a notable player in the Industrial Carbon Dioxide Market, leveraging its strengths in technological innovation and sustainability.


The company's commitment to reducing its carbon footprint while producing high-purity carbon dioxide sets it apart from competitors. Digital Carbon employs advanced methods for capturing and purifying CO2, ensuring that its products meet stringent quality standards required by industries such as food processing and pharmaceuticals.


Additionally, its investment in research and development allows Digital Carbon to stay ahead of market trends, enabling it to introduce new solutions that cater to evolving customer demands. The strategic positioning of Digital Carbon in the market not only enhances its visibility but also establishes a robust reputation, contributing to long-term relationships with key industrial clients.


AGA, well-known in the Industrial Carbon Dioxide Market, has built a solid reputation based on its extensive experience and broad product offerings in gases, including CO2. The company operates multiple production facilities across various regions, ensuring a reliable supply chain and timely delivery to its customers.


AGA's strengths lie in its ability to provide both bulk and packaged CO2 solutions, which cater to a wide array of industries such as chemical manufacturing, welding, and food packaging.


Their strong emphasis on safety, environmental sustainability, and service excellence, combined with a well-established distribution network, provides AGA with competitive advantages that are critical in meeting the diverse needs of the market.


The company continues to expand its footprint in the industry through strategic initiatives, ensuring that it remains a key player in the dynamic landscape of industrial carbon dioxide.


Key Companies in the industrial carbon dioxide market Include:



  • Digital Carbon

  • AGA

  • Air Liquide

  • Air Products and Chemicals

  • Nippon Gases

  • Linde

  • Messer Group

  • Taiyo Nippon Sanso

  • ExxonMobil

  • Technip Energies

  • Matheson TriGas

  • Tosoh Corporation

  • Praxair

  • SABIC

  • Fujifilm


Industrial Carbon Dioxide Market Developments


Recent developments in the Industrial Carbon Dioxide Market have shown increased activity, particularly among major players like Air Liquide, Air Products and Chemicals, and Linde. These companies are focusing on technological advancements to enhance efficiency and reduce carbon emissions, responding to the growing demand for sustainable practices.


Market growth is driven by the rising applications of carbon dioxide in sectors such as food and beverage, pharmaceuticals, and enhanced oil recovery, where firms like ExxonMobil and SABIC are prominent. Mergers and acquisitions are capturing attention as companies seek to expand their market share; for instance, Messer Group has been actively pursuing strategic partnerships to strengthen its global footprint.


Additionally, the market valuation is experiencing substantial growth, with firms such as Digital Carbon and Taiyo Nippon Sanso investing significantly in innovation and infrastructure. This growth trajectory is creating a competitive landscape, prompting companies to enhance their service offerings and fuel advancements while addressing environmental concerns.


As industrial demand continues to rise, the ongoing evolution within the sector is shaping future opportunities and challenges while fostering collaboration among existing players.


Industrial Carbon Dioxide Market Segmentation Insights



  • Industrial Carbon Dioxide Market Application Outlook

    • Food Processing

    • Chemical Manufacturing

    • Metallurgical Processes

    • Healthcare

    • Agriculture




 



  • Industrial Carbon Dioxide Market End Use Outlook

    • Food and Beverage

    • Petrochemical

    • Metal Fabrication

    • Water Treatment

    • Pharmaceutical




 



  • Industrial Carbon Dioxide Market Form Outlook

    • Liquid

    • Gas

    • Solid




 



  • Industrial Carbon Dioxide Market Production Method Outlook

    • Fermentation

    • Gas Processing

    • Chemical Looping

    • Air Separation




 



  • Industrial Carbon Dioxide Market Regional Outlook

    • North America

    • Europe

    • South America

    • Asia Pacific

    • Middle East and Africa



Report Attribute/Metric Details
Market Size 2022 27.06(USD billion)
Market Size 2023 27.86(USD billion)
Market Size 2032 36.2(USD billion)
Compound Annual Growth Rate (CAGR) 2.95% (2024 - 2032)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year 2023
Market Forecast Period 2024 - 2032
Historical Data 2019 - 2023
Market Forecast Units USD billion
Key Companies Profiled Digital Carbon, AGA, Air Liquide, Air Products and Chemicals, Nippon Gases, Linde, Messer Group, Taiyo Nippon Sanso, ExxonMobil, Technip Energies, Matheson TriGas, Tosoh Corporation, Praxair, SABIC, Fujifilm
Segments Covered Application, End Use, Form, Production Method, Regional
Key Market Opportunities Increased demand for enhanced oil recovery, Growing application in food and beverage preservation, Expansion of carbon capture technologies, Rising need for sustainable industrial processes, Development of renewable energy solutions
Key Market Dynamics Increasing demand in food preservation, Growth in enhanced oil recovery, Rising applications in healthcare, Stringent environmental regulations, Expanding industrial production capacity
Countries Covered North America, Europe, APAC, South America, MEA


Frequently Asked Questions (FAQ) :

The Industrial Carbon Dioxide Market is expected to be valued at 36.2 USD billion in 2032.

The Industrial Carbon Dioxide Market is projected to grow at a CAGR of 2.95% from 2024 to 2032.

North America is expected to dominate the market with a valuation of 13.7 USD billion by 2032.

The Food Processing application of the Industrial Carbon Dioxide Market is expected to reach 8.5 USD billion in 2032.

Key players in the market include AGA, Air Liquide, Linde, and Praxair among others.

The market size for Chemical Manufacturing is projected to be 10.5 USD billion in 2032.

The APAC region is anticipated to be valued at 8.3 USD billion in 2032.

The Agriculture segment is expected to reach a market value of 7.7 USD billion in 2032.

The Healthcare application was valued at 3.0 USD billion in 2023.

The market may face challenges related to regulatory changes and environmental concerns affecting production.

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.