Demand for Carbon Dioxide to Surge from Metal and F&B Industries, Evaluates Fact.MR
Published : 06 Apr 2021 Industry: Chemical & Materials
The U.S. and China together account for a vast majority of carbon dioxide supply & demand. This is mainly due to the fact that these countries are home to a large number of metal manufacturing & fabrication and food & beverage industries, where carbon dioxide plays a vital role in their processes. Further, increasing consumption from end-use industries such as oil & gas and food & beverages followed by surging adoption of carbon dioxide in medical and related industries is being seen across regions. The CO2 market is partially consolidated in nature, with a notable amount of players catering to overall demand. Majority of players are involved in strategies such as acquisitions and joint-ventures to gain market position.
As per the latest revised report published by Fact.MR, the global carbon dioxide (CO2) market is anticipated to surpass a valuation of US$ 3.5 Bn in 2021, and is poised to expand at a CAGR of more than 8% over the next ten years.
Key Takeaways from Market Study
- The carbon dioxide market is anticipated to add 2.2X value by 2031.
- Combustion segment to capture major portion, equivalent to more than half of the global market share, and is set to create an absolute $ opportunity of around US$ 1.1 Bn over the forecast period.
- Among the end use industries, metal manufacturing & fabrication and food & beverages are set to be the fastest-growing.
- In 2021, North America is set to dominate market revenue, but by 2031 it is anticipated to lose 152 BPS.
- The market in China, the U.S. and India is expected to rise at around 8% CAGR each through 2031.
- Due to the COVID-19 crisis, demand for carbon dioxide was hit in 2020, which saw a decline in the 2nd and 3rd quarters of the year.
“Investing in cost-effective transportation systems for carbon-dioxide to reduce overall product price would be the focus of CO2 manufacturing companies,”says a Fact.MR analyst.
To CO2 manufacturers should invest in R&D to develop cost-effective carbon dioxide transportation systems. These enhancements will drive their growth in the carbon dioxide market in the medium- to long-term forecast period.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased global carbon dioxide market analysis, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of production (combustion and biological), delivery (centralized [pipelines, trucks, and cylinders] and onsite), and end-use industry (metal manufacturing & fabrication, food & beverages, pulp & paper, oil & gas, chemicals, and other industrial), across six major regions of the world (North America, Latin America, Europe, Asia Pacific Except Japan, China, and the Middle East & Africa).
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Chemicals & Materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the Chemicals & Materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.
Consultant - Chemicals & Materials