Market players are focusing on strategic acquisitions as a part of their plans to rapidly expand through organic and inorganic growth strategies. Further, they are also focusing on expanding their research and development facilities to explore more application areas and gain higher profit margins. Market players, to gain an edge, have started offering products with specialized technologies in different end-use industries. Manufacturers of carbon dioxide are focusing on forging collaborations with retailers to expand their businesses. Major CO2 manufacturers are Linde Group, Air Liquide, Praxair Inc, Air Products and Chemicals Inc, Gulf Cryo, Abdullah Hashim Industrial & Equipment Co, and Bristol Gases – Concorde Corodex Group.
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Segmentation of Carbon Dioxides Industry ResearchĬhoose Quick and Secure PayPal Payment Mode to Get Full Access of This Report Both businesses are following commercial procedures.Īnother significant German chemical company, Bayer, is developing a method to create polyurethane foams using CO2, which is creating immense growth opportunities for the market. This plastic can take the place of other plastics in current oil-based applications for coatings, adhesives, foams, and packaging. German chemical company BASF is producing polypropylene carbonate by capturing it from power plants and other waste sources and using novel catalysts. With growing investments in R&D, the market is witnessing high growth opportunities across Germany. Which Factors Drive Demand for Carbon Dioxide in Germany? Request Customized Report as Per Your Requirements –
The global market is led by North America with 28.4% market share in 2022.Worldwide demand for CO2 increased at 4.7% CAGR between 20.The Global CO2 market is estimated to expand at a CAGR of 8.3% and reach US$ 3.8 billion by the end of 2032.Such factors will maintain a healthy growth trajectory for the market from 2022 to 2025. Also, demand is high for polymers and greenhouses to promote crop growth. The utilization of C02 in construction materials for non-structural applications, such as roads and floors, is an opportunity. This will escalate the demand for carbon dioxide in the healthcare industry and maintain market growth opportunities. Increasing usage of CO2 in food applications will drive significant growth of the CO2 market over the coming years.Ĭarbon dioxide finds high consumption in the healthcare industry as an insufflation gas used for surgeries with minimal invasion (endoscopy, laparoscopy, and arthroscopy, among others) to stabilize and enlarge body cavities to offer enhanced visibility for surgical areas. Highly driven by the growing carbonated drinks market, the demand for carbon dioxide is expected to witness a significant surge over the decade.Ĭarbon dioxide liquid for cryogenic freezing and pre- or post-cooling applications to enhance the refrigeration value of food products is a significant, and perhaps key application for CO2 in some markets where CO2 is dominant as compared to liquid nitrogen (LIN). Industrial gases find significant use for such applications in the food & beverage industry. This demand brings in the need for food that is packaged and transported at modified atmospheres, as these are sourced from distant locations.
Market growth is riding on the back of the remarkable contribution of CO2 to increasing the conductivity and performance of electronic devices.ĭemand for food & beverage products is anticipated to register attractive growth as a basic need driven by the rising population and change in food habits due to globalization and exposure of people to various types of food. 03, 2022 (GLOBE NEWSWIRE) - The global carbon dioxide market is worth US$ 1.7 billion in 2022 and is predicted to surge ahead at a CAGR of 8.3% between 20, according to Fact.MR, market research, and competitive intelligence provider.
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