According to a new report, published by KBV research, The Global Carbon Dioxide Market size is expected to reach $14.9 billion by 2030, rising at a market growth of 4.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 27,504.28 Kilo Tonnes, experiencing a growth of 2.2% (2019-2022).
Adopting carbon dioxide (CO2) technologies and solutions is driven by various factors, including regulatory requirements, market incentives, technological advancements, and sustainability goals. Across industries, businesses and governments increasingly recognize the importance of mitigating CO2 emissions and leveraging CO2 for sustainable development.
Advances in CO2 capture, utilization, and storage technologies drive adoption by improving efficiency, scalability, and cost-effectiveness. Innovations in materials science, process engineering, and catalysis enable the development of novel CO2-based products and processes. Technological advancements reduce barriers to adoption, making CO2 solutions more accessible and attractive to businesses seeking to decarbonize their operations.
The Medical segment is experiencing a CAGR of 4.6% during (2023 - 2030). CO2 is employed in medical device sterilization processes to disinfect and sterilize medical instruments and equipment. In sterilization chambers, CO2 is used as a sterilizing agent to kill microorganisms, including bacteria, viruses, and spores, on medical devices before use in clinical procedures. The increasing investment in the medical sector increases the demand for carbon dioxide. For example, as per the data from the Government of Australia, the country spent an estimated $241.3 billion on health goods and services in 2021–22, an average of approximately $9,365 per person.
The Liquid segment is leading the Global Carbon Dioxide Market by Form in 2022; thereby, achieving a market value of $7.9 Billion by 2030. Liquid CO2 is widely used in industrial processes such as chemical synthesis, metal fabrication, and food processing. In chemical synthesis, liquid CO2 is a versatile solvent and reactant for producing chemicals, plastics, and polymers. Liquid CO2 is also used in metal fabrication processes such as welding, cutting, and cleaning, where it serves as a cooling agent and shielding gas.
The Ethylene Oxide segment is registering a CAGR of 5.4% during (2023 - 2030). Ethylene oxide is produced on a large scale in the chemical industry for various applications, including the synthesis of ethylene glycol, surfactants, and plastics. As a result, a significant supply of ethylene oxide is available for conversion into carbon dioxide, making it an attractive source for the carbon dioxide market. Also, carbon dioxide derived from ethylene oxide tends to be of high purity and quality,
Full Report: https://www.kbvresearch.com/carbon-dioxide-market/
The North America region dominated the Global Carbon Dioxide Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $5.96 Billion by 2030. The Asia Pacific region is anticipated to grow a CAGR of 5.4% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 4.6% during (2023 - 2030).
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)
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