According to Fortune Business Insights, The global carbon dioxide market was valued at USD 11.11 billion in 2023 and is expected to rise from USD 11.50 billion in 2024 to USD 15.21 billion by 2032, reflecting a compound annual growth rate (CAGR) of 3.6% during the forecast period 2024–2032. In 2023, Asia Pacific held the largest market share, accounting for 45.72% of the global total. Meanwhile, the U.S. carbon dioxide market is anticipated to witness substantial growth, projected to reach USD 3.57 billion by 2032. This growth is primarily fueled by strong demand from the food and beverage sector, evolving environmental regulations, and widespread utilization across various industries.

Carbon dioxide refers to a chemical compound with two oxygen atoms and one carbon atom. The surging consumer demand for carbonated beverages is fostering market growth. Additionally, CO2 finds applications in various sectors owing to its versatility.

Fortune Business Insights™ provides this information in its research report, titled “Carbon Dioxide Market, 2024-2032”.

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List of Key Players Mentioned in the Report:

• Linde plc (Ireland)
• Air Products and Chemicals, Inc. (U.S.)
• Air Liquide (France)
• Sicgil India Limited (India)
• Matheson Tri-Gas, Inc. (U.S.)
• Universal Industrial Gases, Inc. (U.S.)
• The Messer Group GmbH (Germany)
• SOL Spa (Italy)
• POET, LLC (U.S.)
• Reliant Gases (U.S.)
• India Glycols Limited (India)

Segmentation:

Massive Applications of Liquid CO2 in Different Industries to Fuel Segment Expansion

In terms of form, the market is classified into gas, solid, and liquid. The liquid segment captured the largest share in 2023 with extensive applications of liquid carbon dioxide in different industries, including chemical processing, healthcare, food and beverages, and more.