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report thumbnailCarbon Dioxide Market

Carbon Dioxide Market Strategic Insights: Analysis 2025 and Forecasts 2033

Carbon Dioxide Market by Form (Liquid, Gas, Solid), by Source (Ethyl Alcohol, Hydrogen, Ethylene Oxide, Substitute Natural Gas, Others), by End-Use Industry (Food & Beverage, Oil & Gas, Metal Fabrication, Medical, Firefighting, Others), by North America (U.S., Canada) Forecast 2026-2034

Feb 12 2025
Base Year: 2025
180 Pages
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Carbon Dioxide Market Strategic Insights: Analysis 2025 and Forecasts 2033

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Carbon Dioxide Market Strategic Insights: Analysis 2025 and Forecasts 2033

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Key Insights

The Carbon Dioxide Marketsize was valued at USD 10.36 USD Billion in 2023 and is projected to reach USD 14.68 USD Billion by 2032, exhibiting a CAGR of 5.1 % during the forecast period.Carbon dioxide (CO2) is a colorless and odorless gas that is composed of one carbon atom bonded to two oxygen atoms. It belongs to the thin layer that encircles the planet's surface, and it performs one of the most essential tasks in the planet's carbon cycle and regulates the temperature of the globe. CO2 gets emitted through natural processes, including respiration and volcanic eruptions, and through activities like burning fossil fuels and deforestation, which are performed by humans. Carbon dioxide has earned itself a bad reputation for its role in climate change, yet it is in many industries where it is of great importance. In the food and drink industry, it is highly used to carbonate soda drinks, extend the shelf life of perishable commodities, and also cool food during processing. For instance, cryosurgery makes use of it in the medical field, and the agents in imaging are part of it as well. CO2 is not only a component in fire extinguishers, but it is also used in oil recovery processes and as a solvent in chemical manufacturing. The diversity of its use is its strength, which also makes it impossible to do without it despite its effects on the environment. 

Carbon Dioxide Market Research Report - Market Overview and Key Insights

Carbon Dioxide Market Market Size (In Million)

25.0M
20.0M
15.0M
10.0M
5.0M
0
18.70 M
2021
20.10 M
2022
21.60 M
2023
23.20 M
2024
24.90 M
2025
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Carbon Dioxide Trends

  • Increasing demand for Carbon Dioxide in the food and beverage industry
  • Growing adoption of Carbon Dioxide in metal fabrication
  • Rising awareness of Carbon Dioxide's medical applications
Carbon Dioxide Market Market Size and Forecast (2024-2030)

Carbon Dioxide Market Company Market Share

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Driving Forces: What's Propelling the Carbon Dioxide Market

  • Surging demand for carbonated beverages, packaged foods, and frozen products in the rapidly expanding food and beverage industry.
  • Increasing use of carbon dioxide in medical applications such as anesthesia, surgery, and respiratory treatments.
  • Stricter government regulations promoting the use of carbon dioxide as an environmentally friendly refrigerant, phasing out harmful chemicals like hydrofluorocarbons (HFCs).
  • Growth in pharmaceutical manufacturing, where carbon dioxide is employed as a propellant for inhalers and other drug delivery systems.
  • Development of carbon capture and utilization technologies to mitigate greenhouse gas emissions and enhance sustainability.

Challenges and Restraints in Carbon Dioxide Market

  • Fluctuating prices of raw materials
  • Environmental concerns related to Carbon Dioxide emissions
  • Availability of substitutes

Emerging Trends in Carbon Dioxide

  • Development of new Carbon Dioxide capture and storage technologies
  • Growing adoption of Carbon Dioxide as a fuel
  • Integration of Carbon Dioxide into renewable energy systems

Growth Catalysts in Carbon Dioxide Industry

  • Rising demand from various end-use industries
  • Technological advancements in Carbon Dioxide production
  • Government initiatives promoting Carbon Dioxide utilization

Market Segmentation: Carbon Dioxide Analysis

End-Use Industry:

  • Food & Beverage
  • Oil & Gas
  • Metal Fabrication
  • Medical
  • Others

Leading Players 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)

Significant developments in Carbon Dioxide Sector

  • Development of new Carbon Dioxide sequestration projects
  • Partnerships between Carbon Dioxide producers and end-use industries
  • Government incentives for Carbon Dioxide utilization

Comprehensive Coverage Carbon Dioxide Market Report

The comprehensive Carbon Dioxide market report provides an in-depth analysis of the market, including:

  • Market size and growth prospects
  • Key industry trends and drivers
  • Challenges and restraints
  • Segmentation and competitive landscape
  • Emerging trends and growth potential

Regional Insight

  • North America: Leading the market due to its robust food and beverage industry, stringent environmental regulations, and advanced healthcare sector.
  • Europe: Strong demand from the food and beverage, automotive, and chemical industries. Government initiatives supporting carbon capture and utilization further drive growth.
  • Asia-Pacific: Rapidly expanding economies, growing populations, and increasing urbanization fuel market growth in this region.
  • South America: Growing demand from the food and beverage industry, coupled with government investments in carbon capture technologies.
  • Middle East and Africa: Increasing demand for carbon dioxide in the oil and gas industry and emerging healthcare markets present growth opportunities.
Carbon Dioxide Market Market Share by Region - Global Geographic Distribution

Carbon Dioxide Market Regional Market Share

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Consumer Side Analysis

  • Consumer behavior and preferences
  • Consumer segmentation and targeting
  • Consumer price sensitivity

Demand Side Analysis

  • Demand drivers and trends
  • Demand forecasting
  • Market potential and opportunities

Import And Export Analysis

  • Import and export data analysis
  • Major import and export countries
  • Import and export regulations

Pricing Strategies

  • Pricing trends and analysis
  • Pricing models and strategies
  • Price segmentation

Segmentation

  • Product type
  • End-use industry (Oil & Gas), (Metal Fabrication), (Beverage)
  • Application
  • Geography

Geographic Coverage of Carbon Dioxide Market

Higher Coverage
Lower Coverage
No Coverage

Carbon Dioxide Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2020-2034
Base Year 2025
Estimated Year 2026
Forecast Period2026-2034
Historical Period2020-2025
Growth RateCAGR of 5.1% from 2020-2034
Segmentation
    • By Form
      • Liquid
      • Gas
      • Solid
    • By Source
      • Ethyl Alcohol
      • Hydrogen
      • Ethylene Oxide
      • Substitute Natural Gas
      • Others
    • By End-Use Industry
      • Food & Beverage
      • Oil & Gas
      • Metal Fabrication
      • Medical
      • Firefighting
      • Others
  • By Geography
    • North America
      • U.S.
      • Canada

Table of Contents

  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1. Increasing Use in Medical and Food & Beverage Industries to Drive Progression of Market
      • 3.3. Market Restrains
        • 3.3.1. Transportation Concerns Related to Carbon Dioxide to Impede Market Progress
      • 3.4. Market Trends
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. Global Carbon Dioxide Market Analysis, Insights and Forecast, 2020-2032
    • 5.1. Market Analysis, Insights and Forecast - by Form
      • 5.1.1. Liquid
      • 5.1.2. Gas
      • 5.1.3. Solid
    • 5.2. Market Analysis, Insights and Forecast - by Source
      • 5.2.1. Ethyl Alcohol
      • 5.2.2. Hydrogen
      • 5.2.3. Ethylene Oxide
      • 5.2.4. Substitute Natural Gas
      • 5.2.5. Others
    • 5.3. Market Analysis, Insights and Forecast - by End-Use Industry
      • 5.3.1. Food & Beverage
      • 5.3.2. Oil & Gas
      • 5.3.3. Metal Fabrication
      • 5.3.4. Medical
      • 5.3.5. Firefighting
      • 5.3.6. Others
    • 5.4. Market Analysis, Insights and Forecast - by Region
      • 5.4.1. North America
  6. 6. Competitive Analysis
    • 6.1. Global Market Share Analysis 2025
      • 6.2. Company Profiles
        • 6.2.1 Linde plc (Ireland)
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 Air Products and Chemicals Inc. (U.S.)
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 Air Liquide (France)
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 Sicgil India Limited (India)
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 Matheson Tri-Gas Inc.(U.S.)
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 Universal Industrial Gases Inc.(U.S.)
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 The Messer Group GmbH (Germany)
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 SOL Spa (Italy)
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 POET LLC(U.S.)
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 Reliant Gases(U.S.)
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)
        • 6.2.11 India Glycols Limited (India)
          • 6.2.11.1. Overview
          • 6.2.11.2. Products
          • 6.2.11.3. SWOT Analysis
          • 6.2.11.4. Recent Developments
          • 6.2.11.5. Financials (Based on Availability)

List of Figures

  1. Figure 1: Global Carbon Dioxide Market Revenue Breakdown (USD Billion, %) by Region 2025 & 2033
  2. Figure 2: Global Carbon Dioxide Market Volume Breakdown (K Tons , %) by Region 2025 & 2033
  3. Figure 3: North America Carbon Dioxide Market Revenue (USD Billion), by Form 2025 & 2033
  4. Figure 4: North America Carbon Dioxide Market Volume (K Tons ), by Form 2025 & 2033
  5. Figure 5: North America Carbon Dioxide Market Revenue Share (%), by Form 2025 & 2033
  6. Figure 6: North America Carbon Dioxide Market Volume Share (%), by Form 2025 & 2033
  7. Figure 7: North America Carbon Dioxide Market Revenue (USD Billion), by Source 2025 & 2033
  8. Figure 8: North America Carbon Dioxide Market Volume (K Tons ), by Source 2025 & 2033
  9. Figure 9: North America Carbon Dioxide Market Revenue Share (%), by Source 2025 & 2033
  10. Figure 10: North America Carbon Dioxide Market Volume Share (%), by Source 2025 & 2033
  11. Figure 11: North America Carbon Dioxide Market Revenue (USD Billion), by End-Use Industry 2025 & 2033
  12. Figure 12: North America Carbon Dioxide Market Volume (K Tons ), by End-Use Industry 2025 & 2033
  13. Figure 13: North America Carbon Dioxide Market Revenue Share (%), by End-Use Industry 2025 & 2033
  14. Figure 14: North America Carbon Dioxide Market Volume Share (%), by End-Use Industry 2025 & 2033
  15. Figure 15: North America Carbon Dioxide Market Revenue (USD Billion), by Country 2025 & 2033
  16. Figure 16: North America Carbon Dioxide Market Volume (K Tons ), by Country 2025 & 2033
  17. Figure 17: North America Carbon Dioxide Market Revenue Share (%), by Country 2025 & 2033
  18. Figure 18: North America Carbon Dioxide Market Volume Share (%), by Country 2025 & 2033

List of Tables

  1. Table 1: Global Carbon Dioxide Market Revenue USD Billion Forecast, by Form 2020 & 2033
  2. Table 2: Global Carbon Dioxide Market Volume K Tons Forecast, by Form 2020 & 2033
  3. Table 3: Global Carbon Dioxide Market Revenue USD Billion Forecast, by Source 2020 & 2033
  4. Table 4: Global Carbon Dioxide Market Volume K Tons Forecast, by Source 2020 & 2033
  5. Table 5: Global Carbon Dioxide Market Revenue USD Billion Forecast, by End-Use Industry 2020 & 2033
  6. Table 6: Global Carbon Dioxide Market Volume K Tons Forecast, by End-Use Industry 2020 & 2033
  7. Table 7: Global Carbon Dioxide Market Revenue USD Billion Forecast, by Region 2020 & 2033
  8. Table 8: Global Carbon Dioxide Market Volume K Tons Forecast, by Region 2020 & 2033
  9. Table 9: Global Carbon Dioxide Market Revenue USD Billion Forecast, by Form 2020 & 2033
  10. Table 10: Global Carbon Dioxide Market Volume K Tons Forecast, by Form 2020 & 2033
  11. Table 11: Global Carbon Dioxide Market Revenue USD Billion Forecast, by Source 2020 & 2033
  12. Table 12: Global Carbon Dioxide Market Volume K Tons Forecast, by Source 2020 & 2033
  13. Table 13: Global Carbon Dioxide Market Revenue USD Billion Forecast, by End-Use Industry 2020 & 2033
  14. Table 14: Global Carbon Dioxide Market Volume K Tons Forecast, by End-Use Industry 2020 & 2033
  15. Table 15: Global Carbon Dioxide Market Revenue USD Billion Forecast, by Country 2020 & 2033
  16. Table 16: Global Carbon Dioxide Market Volume K Tons Forecast, by Country 2020 & 2033
  17. Table 17: U.S. Carbon Dioxide Market Revenue (USD Billion) Forecast, by Application 2020 & 2033
  18. Table 18: U.S. Carbon Dioxide Market Volume (K Tons ) Forecast, by Application 2020 & 2033
  19. Table 19: Canada Carbon Dioxide Market Revenue (USD Billion) Forecast, by Application 2020 & 2033
  20. Table 20: Canada Carbon Dioxide Market Volume (K Tons ) Forecast, by Application 2020 & 2033

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

Step Chart
Bar Chart
Method Chart

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Approach Chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

Note*: In applicable scenarios

Step 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
Analyst Chart

Step 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the Carbon Dioxide Market?

The projected CAGR is approximately 5.1%.

2. Which companies are prominent players in the Carbon Dioxide Market?

Key companies in the market include 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).

3. What are the main segments of the Carbon Dioxide Market?

The market segments include Form, Source, End-Use Industry.

4. Can you provide details about the market size?

The market size is estimated to be USD 10.36 USD Billion as of 2022.

5. What are some drivers contributing to market growth?

Increasing Use in Medical and Food & Beverage Industries to Drive Progression of Market.

6. What are the notable trends driving market growth?

N/A

7. Are there any restraints impacting market growth?

Transportation Concerns Related to Carbon Dioxide to Impede Market Progress.

8. Can you provide examples of recent developments in the market?

N/A

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850, USD 5850, and USD 6850 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in USD Billion and volume, measured in K Tons .

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "Carbon Dioxide Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the Carbon Dioxide Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the Carbon Dioxide Market?

To stay informed about further developments, trends, and reports in the Carbon Dioxide Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.