The Asia Pacific Carbon Dioxide Market would witness market growth of 5.4% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 7,167.27 kilo tonnes, showcasing a growth of 2.6% (2019-2022).
Liquid (CO2) holds significant importance in various industries due to its versatility and unique properties. One primary application is in the food and beverage sector, where liquid CO2 is used for carbonation of beverages like soda and beer. This process involves dissolving CO2 into liquid to create the desired level of fizziness, enhancing the taste and texture of the beverages. Additionally, liquid CO2 finds widespread use in the healthcare industry for cryotherapy applications, such as removing warts or treating certain skin conditions. Therefore, the China Market consumed 1,813.71 Kilo Tones in the market in 2022.
The China market dominated the Asia Pacific Carbon Dioxide Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,396.3 Million by 2030. The Japan market is registering a CAGR of 4.7% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6% during (2023 - 2030).
The market refers to the industry where CO2 is bought and sold as a commodity for various industrial, commercial, and medical applications. The market is changing quickly due to new regulations, technological breakthroughs, and increased awareness of the need for long-term solutions to climate change. Carbon capture and utilization (CCU) technologies are gaining momentum as viable solutions for reducing CO2 emissions while producing valuable products. Innovations in CCU include the conversion of CO2 into fuels, chemicals, building materials, and consumer goods. These technologies offer opportunities to utilize CO2 as a feedstock for sustainable industrial processes, thereby turning greenhouse gases into a valuable resource.
Direct air capture (DAC) technologies enable the removal of CO2 directly from the atmosphere, offering a means to mitigate emissions from hard-to-abate sectors such as aviation and agriculture. Innovations in DAC focus on improving efficiency, scalability, and cost-effectiveness, making carbon removal feasible at scale. DAC technologies hold promise for achieving negative emissions and addressing the challenge of historical carbon emissions.
C02 is commonly used in water treatment processes, particularly in pH control and alkalinity adjustment. As the wastewater treatment industry in China expands to address growing environmental concerns and stricter regulations, the demand for CO2 for water treatment applications is likely to increase. China’s rapid urbanization and industrial growth have led to increased wastewater generation from residential, commercial, and industrial sources. Additionally, the production of major chemicals in 2023-24 (up to August 2023) was 53.54 lakh tones. Therefore, the expansion of the chemical industry and increasing wastewater treatment projects in the region are propelling the market’s growth.
Free Valuable Insights: The Global Carbon Dioxide Market is Predict to reach $ 14.9 Billion by 2030, at a CAGR of 4.9%
Based on Application, the market is segmented into Food & Beverages, Oil & Gas, Medical, Rubber, Firefighting, and Others. Based on Form, the market is segmented into Liquid, Gas, and Solid. Based on Source, the market is segmented into Ethyl Alcohol, Hydrogen, Ethylene Oxide, Substitute Natural Gas, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By Application (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Form (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Source (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, kilo Tonnes, USD Billion, 2019-2030)
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
