Carbon Dioxide Market Analysis, Industry Striking Revenue Forecast by 2027, Know the Detail on 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 market size stood
at USD 10.00 Billion in 2019
The emergence of COVID-19 has brought the world to a
standstill. We understand that this health crisis has brought an unprecedented
impact on businesses across industries. However, this too shall pass. Rising support
from governments and several companies can help in the fight against this
highly contagious disease. There are some industries that are struggling and
some are thriving. Overall, almost every sector is anticipated to be impacted
by the pandemic.
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)
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.
We are taking continuous efforts to help your
business sustain and grow during COVID-19 pandemics. Based on our experience
and expertise, we will offer you an impact analysis of coronavirus outbreak
across industries to help you prepare for the future.
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.
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.
https://www.fortunebusinessinsights.com/carbon-dioxide-market-102866
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