Industrial Carbon Dioxide Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global Industrial Carbon Dioxide Market is poised for substantial growth, the market is expected to be valued at US$ 5.2 billion in 2024, and by 2031, it is anticipated to reach a significant market value of US$ 6.9 billion. A key factor driving this growth is the expansion of the food and beverages industry.

Diverse Forms of Carbon Dioxide and Applications: Industrial carbon dioxide exists in three primary forms: gaseous, solid, and liquid. Liquid carbon dioxide, resulting from substantial compression and cooling of carbon dioxide gas, finds applications in various industries, including food and beverages. It is used to decaffeinate coffee, remove caffeine from coffee beans, and carbonate soft drinks and beer. This versatile gas also has applications in the oil & gas, medicinal, fire-fighting, and rubber industries, among others.

Market Dynamics:

Oil & Gas Industry's Role: The oil & gas sector plays a crucial role in driving the demand for industrial carbon dioxide. Carbon dioxide is utilized in enhanced oil recovery (EOR), a technique employed to extract more crude oil from oil fields. High-pressure carbon dioxide is injected into oil reservoirs, facilitating the flow of oil to the surface. This method enhances oil recovery and reduces the viscosity of the extracted oil.

Rising Demand for Synthetic Fuel: Synthetic fuels produced from carbon dioxide, such as methanol, methane, and syngas, are gaining popularity. These fuels can serve as energy sources or precursors for carbon monoxide production and offer compatibility with existing infrastructure, including gasoline, diesel, and aviation fuel. As synthetic fuels derived from carbon dioxide become more widely used, the demand landscape is expected to shift across various industry verticals.

Barriers to Market Growth: The industrial carbon dioxide market faces several challenges, primarily related to production costs, transportation, and storage. Carbon dioxide can be transported in solid, liquid, or gaseous forms, with pipelines being the most efficient method. However, liquefying carbon dioxide for transportation requires significant electrical energy, impacting transportation costs and manufacturers' profit margins.

Stringent regulations governing the secure transport and storage of carbon dioxide further influence transportation costs and add to the market's challenges.

Country-wise Insights:

Leading Role of the United States: The United States is projected to be a dominant consumer in the global industrial carbon dioxide market in terms of value. The country's mature and evolving industrial sector, along with a growing healthcare industry, is driving carbon dioxide usage in various applications. The demand for industrial carbon dioxide is expected to rise due to research and high-quality applications across industries.

Asia-Pacific Powerhouses: China and India lead the Asia-Pacific region in industrial carbon dioxide consumption. The food & beverages industry in these countries is a significant consumer of carbon dioxide, driven by the popularity of carbonated food products. Additionally, industrial firefighting applications favor carbon dioxide-based fire extinguishers in these nations, further propelling market growth.

Germany's Research and Development Focus: Germany is anticipated to lead the industrial carbon dioxide market in Europe. The country's investments in research and development for carbon dioxide-based technologies, such as polyurethane foams, present significant growth opportunities. Additionally, the German food & beverages industry is expected to contribute to the demand for industrial carbon dioxide.

Competitive Landscape:

Key players in the industrial carbon dioxide industry are focused on delivering long-term value to shareholders by adopting low-risk strategies that offer substantial profit margins. They are prioritizing the development of industrial carbon dioxide using cutting-edge sourcing-automation production processes to meet the increasing demand. Furthermore, the growing demand for Carbon Capture Storage (CCS) is driving industry participants to develop solutions that reduce carbon emissions.

Key Companies Profiled:

• Air Liquide
• Abdullah Hashim Industrial & Equipment Co.
• Bristol Gases - Concorde Corodex Group
• Dubai Industrial Gases
• Mohsin Haider Darwish LLC
• Ellenbarrie Industrial Gases Ltd
• Matheson Tri-Gas Inc.
• SICGIL INDIA LIMITED
• Air Products and Chemicals Inc.
• AIR WATER INC
• Buzwair Industrial Gases Factories
• Cosmo Engineering
• Gulf Cryo
• Iwatani Corporation
• Others

Industrial Carbon Dioxide Market Segmentation:

By Source:

• Natural Gas Processing
• Ammonia Plants
• Ethanol Plants
• Production Wells
• Others

By Application:

• EOR
• Ammonia Synthesis
• Carbonation
• Shielding and Inert Gas
• Dry Ice

By End Use:

• Food and Beverages
• Oil and Gas
• Chemicals
• Building & Construction
• Medical and Pharmaceuticals
• Metal Industry
• Rubber & Plastic
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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