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Carbon dioxide (CO2) is a versatile compound with numerous applications in gaseous, liquid, and solid phases due to its unique properties. It is used as a chemical building block (primarily for the synthesis of urea from ammonia), an acidifier in beverage and water treatment applications, a supercritical solvent (e.g., in enhanced oil recovery and caffeine extraction from coffee), a shielding and inerting gas (e.g., in metalworking or food preservation), and a chilling and cleaning agent while solid (it sublimates from solid directly to a gaseous state).
Carbon Dioxide Market Report Scope and Research Methodology:
The main aim of the Carbon Dioxide Market report is to provide a comprehensive analysis of the market to the stakeholders in easy language. Market research has been done by dividing the Carbon Dioxide market into major segments. These main segments of the Carbon Dioxide Market were further divided into various sub-segments. A detailed analysis of drivers, opportunities, restraints, and challenges in the Carbon Dioxide industry has been provided region-wise and segment-wise in the report. The market report presents an in-depth analysis of the Carbon Dioxide Market including historical data, meaningful insights, facts, and statistically supported and industry-validated market statistics with estimates based on an appropriate set of assumptions and methodologies.
The primary and secondary research methods were used to collect the data for the Carbon Dioxide market report and the data collected for the report was combined and analysed to get accurate and error-free findings. The secondary research includes a review of annual and financial reports of leading players, while primary research includes interviews with important opinion leaders and Carbon Dioxide industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals. To estimate the Carbon Dioxide market size, the bottom-up approach was employed. SWOT analysis was employed to provide the strengths and weaknesses of the Carbon Dioxide Market with the PESTLE and PORTER analysis to provide the effects of macroeconomic and microeconomic factors on the Carbon Dioxide Market.
Carbon Dioxide Market Report Overview:
The report covers the Carbon Dioxide Market's most recent revenue and trends. It includes Carbon Dioxide Market overview, definition, structure, and preventative and pre-planned management. The report focuses on the factors that affect the Carbon Dioxide Market positively and negatively. It also aids in determining the future potential of the Carbon Dioxide Market in the forecast years. The report aids in making decisions about how to approach the market and comprehending the Carbon Dioxide industry's backdrop.
Carbon Dioxide Market size was valued at US$ 7.73 Bn. in 2020. Global Carbon Dioxide Market is estimated to grow at a CAGR of 4.9% over the forecast period.
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Carbon Dioxide Market Dynamics:
Increased demand for CO2 in the oil and gas industry for oil extraction is expected to drive carbon dioxide market growth over the forecast period. Enhanced oil recovery (EOR) is a technology that uses carbon dioxide gas to increase the amount of crude oil extracted from oil fields. CO2 is pumped under high pressure into an oil reservoir, causing the oil to flow through pipelines and to the ground's surface. CO2 gas injection aids oil recovery by lowering the viscosity of recovered oil. It is used in oil wells to extract oil and maintain pressure within a formation. When CO2 is poured into an oil well, it partially dissolves into the oil, allowing for simple extraction of oil from the bedrock.
Carbon Dioxide Market Segmentation:
The Carbon Dioxide Market is classified into Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, and Others based on the source. In 2020, the Ethyl Alcohol segment held 33% of the market. As a byproduct of alcoholic fermentation, carbon dioxide is produced in the production of ethyl alcohol. Carbon dioxide derived from ethyl alcohol has a high purity level and is primarily used in the food industry, which drives demand in this segment.
During the forecast period, the Hydrogen segment is expected to grow at a CAGR of 4.8%. The steps taken by wealthy countries like the United States and the United Kingdom to transition to a hydrogen economy are expected to boost hydrogen production while also increasing carbon dioxide emissions in this sector.
Carbon Dioxide Market is classified into Food & Beverage, Oil & Gas, Medical, Rubber, Fire Fighting, and Others. In 2020, the Food & Beverage segment held 39% of the market. Carbon dioxide is primarily used in the Food and Beverage industry to carbonate beverages, freeze poultry and food products, and control pH levels. People's changing lifestyles contribute to an increase in demand for ready-to-eat and frozen foods, which raises CO2 emissions. Furthermore, as the world's population grows, so does demand for food and beverages, which is expected to support the growth of the carbon dioxide market over the forecast period.
Carbon Dioxide Market Key Players:
Air Liquide (France)
Linde AG (Ireland)
Matheson Tri-Gas (United States)
Air Products and Chemicals, Inc.( United States)
AIR WATER INC (Japan)
Airgas (United States)
Buzwair Industrial Gases Factories (Qatar)
Gulf Cryo (United Arab Emirates)
INOX Air Products Ltd. (India)
Iwatani Corporation (Japan)
Matheson Tri-Gas, Inc. (United States)
Messer (Germany)
Praxair, Inc. (United States)
SABIC (Saudi Arabia)
SOL (Italy)
Carbon Dioxide Market Regional Insights:
Geographically, the report is segmented into several key countries, with Carbon Dioxide market size, growth rate, import and export of Carbon Dioxide market in these countries, which cover North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and the Middle East and Africa.
Key Questions answered in the Carbon Dioxide Market Report are:
Key Offerings:
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