Carbon Dioxide Market Global Research Report by 2027, Fortune Business Insights™
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, titled “Carbon
Dioxide Market Size, Share & Industry Analysis, By End-Use Industry (Food
& Beverage, Oil & Gas, Metal Fabrication, Medical, and Others), and
Regional Forecast, 2020-2027”
The carbon
dioxide market size stood at USD 10.00 Billion in 2019 and is predicted to
reach USD 12.15 Billion by 2027, exhibiting a CAGR of 2.5% during the forecast
period
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Market
Driver:
Heavy
Demand for CO2in Oil and Gas Industry to Enhance Market Potential
The growing utilization
of carbon capture and storage (CCS) technology for the procurement of CO2
from the carbon emissions produced by biomass power plants, cement
manufacturing, and consumption of fossil fuels for electricity generation will
contribute effectively to the growth of the market. This process also aids in
lowering carbon emission in the atmosphere and preventing air pollution. The
increasing application of carbon dioxide in the oil & gas industry for
enhanced oil recovery will incite the practice of CCS technology for capturing
CO2. The growing cognizance
about the benefits of CCS such as, reduced CO2 emissions, positive
environmental impact, and maintain ecological balance will escalate the
adoption of the is technology. In addition, the rising implementation of carbon
capture and storage (CCS) technology around the globe can be an essential
factor in bolstering the growth of the market in the foreseeable future.
Browse
summary:
https://www.fortunebusinessinsights.com/carbon-dioxide-market-102866
Regional
Analysis:
Advancement in Carbon Attainment Methods to
Aid Expansion in North America
The market in Asia Pacific stood at USD 3.62 Billion in 2019 and
is likely to witness a high growth rate during the forecast period owing to the
demand from the food & beverage and medical industry in the developing
nations. For instance, China is one of the biggest suppliers of carbon dioxide
around the world. The developing medical industry in India will promote the
growth of the market in the region. The market in North America is predicted to
rise tremendously during the forecast period due to the high demand for CO2 in oil recovery
applications. The increasing initiatives
for the use of carbon dioxide in various industrial applications will enable
speedy growth of the market in the region. Moreover, the technological
advancement in CO2
extraction methods will aid growth in North America. The market in Europe is
likely to account for a significant share in the forthcoming years. The growth
in the region is attributed to the use of carbon dioxide in alcoholic and
non-alcoholic beverages in the food & beverage industry. Therefore, the
demand for carbonated beverages will propel the market in the region. The
market in Latin America and the Middle East & Africa is predicted to grow
rapidly during the forecast period owing to the rising oil & gas exploration
activities. The rising consumption of carbon dioxide in oil recovery activities
to boost the market in the Middle East and Africa.
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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Impact Analysis):
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/carbon-dioxide-market-102866
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