Carbon Dioxide Market Size Worth $217.8 Billion by 2033 | CAGR: 12.3%: AMR

The growth of the carbon dioxide market is driven by several prime determinants such as surge in utilization of CO2 in food & beverage industry. Surge in demand for carbon capture and storage technologies has a positive impact on market growth. However, the limited infrastructure for CO2 capture and transportation restrains the growth of the market. In addition, the expanding use of CO2 in agriculture and chemical applications is expected to provide ample opportunities for market expansion.

/EIN News/ -- Wilmington, Delaware, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Carbon Dioxide Market by Form (Solid, Liquid, and Gas) and Application (Food & Beverages, Medical, Fire Fighting, Agriculture, Metal Fabrication, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the "carbon dioxide market" was valued at $69.2 billion in 2023, and is estimated to reach $217.8 billion by 2033, growing at a CAGR of 12.3% from 2024 to 2033. 

Prime determinants of carbon dioxide market growth 

The growth of the carbon dioxide market is driven by several prime determinants such as surge in utilization of CO2 in food & beverage industry. Surge in demand for carbon capture and storage technologies has a positive impact on market growth. However, the limited infrastructure for CO2 capture and transportation restrains the growth of the market. In addition, the expanding use of CO2 in agriculture and chemical applications is expected to provide ample opportunities for market expansion. 

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Report Coverage & Details: 

Report Coverage	Details
Forecast Period	2024–2033
Base Year	2023
Market Size in 2023	$69.2 billion
Market Size in 2033	$217.8 billion
CAGR	12.3%
No. of Pages in Report	389
Segments Covered	Form, Application, End Use, and Region
Drivers	Surge in utilization of CO2 in food and beverage industry  Rise in demand for Carbon Capture and Storage technologies
Opportunity	Expanding use of CO2 in agriculture and chemical applications
Restraint	Limited infrastructure for CO2 capture and transportation

The gas segment held the major share of the market in 2023 

By form, the gas segment accounted for more than two-fifths of the carbon dioxide market share in 2023 and is expected to maintain its dominance during the forecast period. The gas form of carbon dioxide dominated the market in 2023 due to its extensive use in various industries. It is essential for carbonation in beverages, refrigeration as a coolant, and fire suppression systems. The gaseous form is also widely used in medical applications for respiratory stimulation and surgical insufflation. Furthermore, its ease of transport and application in welding and metal fabrication enhances its industrial demand. The growing use of CO2 in enhanced oil recovery (EOR) and its role in facilitating efficient production processes have further contributed to its market dominance. 

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The agriculture segment dominated the market in 2023 

By application, the agriculture segment accounted for nearly half of the carbon dioxide market share in 2023 and is expected to maintain its dominance during the forecast period. The agriculture segment dominated the carbon dioxide market in 2023 due to its crucial role in enhancing plant growth. Carbon dioxide is used in greenhouse farming to optimize photosynthesis, thereby increasing crop yield. The rising demand for food production, driven by global population growth, has amplified its use in controlled agricultural environments. Additionally, CO2 is employed in post-harvest storage and packaging to extend the shelf life of fruits and vegetables. The shift towards sustainable farming practices, coupled with the need for efficient resource utilization, has further fueled the demand for carbon dioxide in agriculture. 

Asia-Pacific held the major share of the market in 2023 

By region, Asia-Pacific accounted for nearly two-fifths of the carbon dioxide market share in 2023 and is expected to maintain its dominance during the forecast period. The Asia-Pacific region dominated the carbon dioxide market in 2023 due to rapid industrialization, urbanization, and growing demand across key sectors like food & beverages, healthcare, and agriculture. Countries like China and India have witnessed increased investments in greenhouse farming and enhanced oil recovery, both of which are major consumers of CO2. Additionally, the region’s booming manufacturing sector relies on CO2 for applications like metal fabrication and cooling. The presence of a large consumer base, coupled with favorable government initiatives to promote sustainable practices, has solidified Asia-Pacific’s leading position in the market. 

Leading Market Players: 

• India glycols limited 

• Ellenbarrie industrial gases 

• Linde plc 

• Gulfcryo 

• Dubai industrial gas 

• Buzwair industrial gases factories 

• Messer group 

• Sol spa 

• Taiyo nippon sanso corporation 

• Acail gas 

The report provides a detailed analysis of these key players in the carbon dioxide market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/carbon-dioxide-market/purchase-options 

About Us 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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