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

Carbon dioxide (CO2) is a colorless, odorless gas that is naturally present in the Earth's atmosphere. It is made up of one carbon atom and two oxygen atoms, and has a molecular weight of 44.01 g/mol. Carbon dioxide is produced by a variety of natural and human activities, including volcanic eruptions, respiration, and the burning of fossil fuels.

Report Coverage

The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective.

The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 impacts have been added for additional information and how it is expected to affect the demand for carbon dioxide in the near future.

Segmentation

On the basis of the end-use industry, the market is segregated into food & beverage, oil & gas, metal fabrication, medical, and others.

Amongst these segments, food & beverage accounts for the major share of the market.

In terms of region, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Drivers and Restraints

Surging Usage in Medical and Food & Beverage Industries to Fuel Development of Market

In the medical industry, carbon dioxide (CO2) is utilized as an insufflation gas in various applications involving insignificantly aggressive surgery to alleviate body hollows, cryotherapy, as well as respiratory stimulation. The gas is also utilized for tissue freezing, and tooth sensitivity valuation. Moreover, the widespread usage of CO2 in the promptly increasing medical industry is anticipated to power the carbon dioxide market growth.

Regional Insights

Asia Pacific held the largest carbon dioxide market share and was worth USD 3.80 billion in 2020. Asia Pacific is the biggest and fastest-developing region owing to great demand from food & beverage, and medical industries.

North America is categorized by an increase in demand for oil recovery applications, thus endorsing the usage of this gas in the region.

The market in Europe is to be administered by the utilization of the gas for carbonation of alcoholic and non-alcoholic beverages in the food & beverage industry.

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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