Carbon Dioxide Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-Use, Sales Channel, Regional Demand, 2015-2035

Format: Online | Last Updated: Mar 2022

[Online Quarterly Update] Carbon Dioxide Market experienced considerable growth as its demand reached 230 million tonnes in 2021 and is expected to achieve a healthy CAGR of 6.50% during the forecast period (2023-2035).
Carbon Dioxide is a naturally occurring compound which is colorless & non-flammable at standard temperature and pressure. Carbon Dioxide is a major greenhouse gas which is significant for earth’s atmosphere and can also be recovered from flue gas in various industries. 
Some natural source of Carbon Dioxide include soil, plants, animals, respiration, and manmade source are deforestation activities, burning of fossil fuels (coal, oil, and natural gas), and volcanic eruptions. Carbon Dioxide is used as feedstock for various chemicals and fertilizers such as Methanol and Urea. Carbon Dioxide is recovered as a by-product in Ammonia production in Fertilizer industry as it consumes 120 million tonnes of Carbon Dioxide every year followed by Oil & Gas around 80 million tonnes, while in Iron and Steel industry, it can be recovered from blast furnace. Carbon Capture & Storage (CCS) technique is used to recover Carbon Dioxide from various industrial processes such as Oil & Gas, Steel, Power Plants. This technology involves various processes such as pre combustion, post combustion and oxyfuel combustion. In pre combustion, conversion of fuel into mixture of carbon dioxide and hydrogen while post combustion involves removal of flue gas from source and oxyfuel combustion involves production of Carbon Dioxide by the burning of fuel. This technology can capture more than 80% of Carbon Dioxide which is released into atmosphere through various sources. 
Carbon Dioxide finds application in Carbonation of Beverages, Food processing, Enhance Oil Recovery (EOR), Firefighting, and Agriculture. It is an essential factor in carbonated drinks, vegetables, meat, packed food which is used to enhance flavour & freshness. Carbonation in beverages is projected to register a CAGR of more than 7% in upcoming years.  It is used as refrigerant in cryogenic freezing & chilling of food to increase the quality and improve its shelf life. Growing demand for Carbon Dioxide in Oil & Gas industry owing to its wide applications in Enhance Oil Recovery which used to increase the production rate. Carbon Dioxide also used as fire Extinguisher. It is also used to increase the growth rate of plants and maximizing yield. 
Based on end-use, the market is categorised into Food & Beverages, Medical, Oil & Gas, Rubber, and others. Among these, the Food & Beverages sector dominated the Carbon Dioxide market across the globe with a market share of around 37.48% due its rising demand in carbonation of beverages and the segment is expected to maintain its dominance in the forecast period. Medical sector is also expected to witness significant growth in next few years as growing requirement of inhalation gas in various surgeries (laparoscopy, arthroscopy, endoscopy) and treatments is on the rise which will further boost the demand for Carbon Dioxide in the future.
Among different regions, North America region dominated the Carbon Dioxide market in 2021 with a share of 48.72% and is likely to maintain its dominance in the forecast period as well. The USA is the largest exporter of Carbon Dioxide due to large number of Carbon Capture and storage locations in the country. The growing population, increasing urbanization coupled with industrial revolution in developing regions of United States is driving the market in North America region. Factors such as ongoing food processing and healthcare projects and growing oil & gas industries are propeling the growth of Carbon Dioxide market through 2035.   
Major players operating in Carbon Dioxide market include Sicgil India Limited, Sinopec, Shanxi International Energy Group, Toshiba Energy System & Solution Corporation, Messer Group GmbH, Linde Plc, ExxonMobil Corporation, Occidental Petroleum, Air Products & Chemicals, Saudi Aramco, Abu Dhabi National Oil Company, Air Liquide S.A, Praxair Inc and Others.
Years considered for this report:
Historical Period: 2015-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023–2035
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Objective of the Study: 
• To assess the demand-supply scenario of Carbon Dioxide which covers production, demand, and supply of Carbon Dioxide market globally.
• To analyse and forecast the market size of Carbon Dioxide.
• To classify and forecast Carbon Dioxide market based on end-use and regional distribution.
• To identify drivers and challenges for Carbon Dioxide market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Carbon Dioxide market.
• To identify and analyse the profile of leading players involved in the manufacturing of Carbon Dioxide. 
To extract data for Carbon Dioxide market, primary research surveys were conducted with Carbon Dioxide manufacturers, suppliers, distributors, wholesalers, and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Carbon Dioxide market over the coming years. 
ChemAnalyst calculated Carbon Dioxide demand globally by analyzing the historical data and demand forecast which was carried out considering imported Carbon Dioxide, raw material used for production of Carbon Dioxide. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 
Key Target Audience: 
• Carbon Dioxide manufacturers and other stakeholders
• Organizations, forums, and alliances related to Carbon Dioxide distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Carbon Dioxide manufacturers, customers, and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Carbon Dioxide market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market size volume by 2021
230 million tonnes
Market size volume by 2035
520 million tonnes
Growth Rate
CAGR of 6.5% from 2022 to 2035
Base year for estimation
Historic Data
2015 – 2020
Forecast period
2023 – 2035
Quantitative units
Demand in Million Tonnes and CAGR from 2022 to 2035
Report coverage
Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
Segments covered
End-Use (Food & Beverages, Medical, Oil & Gas, Rubber and Others)
Sales Channel (Direct Company Sale, Indirect Sales)
Regional scope
North America; Europe; Asia Pacific; South America; Middle East & Africa
Country scope
United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; France; United Kingdom; Spain; Italy; Saudi Arabia; Iran; South Africa; Brazil; Argentina
Key companies profiled
Sicgil India Limited, Sinopec, Shanxi International Energy Group, Toshiba Energy System & Solution Corporation, Messer Group GmbH, Linde Plc, ExxonMobil Corporation, Occidental Petroleum, Air Products& Chemicals, Saudi Aramco, Abu Dhabi National Oil Company, Air Liquide S.A, Praxair Inc, and others.
Customization scope
Free report customization with purchase. Addition or alteration to country, regional & segment scope.
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs. 
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Frequently Asked Questions (FAQ):

What is global demand and growth rate of Carbon Dioxide?

The global demand of Carbon Dioxide reached 230 million tonnes in 2021 and is predicted to grow at CAGR of 6.5% through 2035.

Which region accounted for the maximum share in the Carbon Dioxide market as of 2021?

The North America region held the maximum share in the Carbon Dioxide market owing to the developments and investments in the major end-user industries.

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