Global Carbon Dioxide Market size is expected to reach US$ XX Bn. by 2026 from US$ XX Bn. in 2019, at a CAGR of 3.9% during the forecast period.
Global Carbon Dioxide Market Introduction and Market Scenario:
The global carbon dioxide (CO2) market is showing sluggish growth and a moderate increase in its valuation for the future. Increasing demand for carbon dioxide (CO2) in the healthcare sector is a key factor that contributing to the carbon dioxide market growth. Also, the growing demand for sparkling drinks will directly increase the demand for food-grade carbon dioxide. Ultimately, it boosts the growth of the carbon dioxide market during the forecast period.
Additionally, technological advancement plays an important role in carbon dioxide market growth. So, increasing investment towards this goal also drives the carbon dioxide market in a productive direction in the future. Also, Enhanced oil recovery (EOR) has been establishing a significant roadmap for market growth in the future. Also, the global carbon dioxide market is mostly driven by the growth in end-use industries. Carbon dioxide has huge demand in end-use industries due to its use in a different application.
On the downside, factor such as transportation of CO2 involves high maintenance cost and risk of CO2 leakage in the atmosphere are obstructing the growth of the carbon dioxide market. In addition, protocols such as the Kyoto Protocol which commits the involved countries to limit the emission of greenhouse gases expected to deter the growth of the carbon dioxide market in the future.
Global Carbon Dioxide Market Segment Analysis:
The global carbon dioxide market is segmented into Source and Application. Based on application, the carbon dioxide market is segmented into Food & Beverages, Oil & Gas, Medical, Rubber, Fire Fighting, Others. Among these, The Food & Beverages segment held the largest market share of XX% in the carbon dioxide market. In the Food & Beverages industry, CO2 is mostly used