2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

How Are Key Drivers Contributing to the Growth and Expansion of the Carbon Dioxide Market?

The escalating need for firefighting is projected to fuel the expansion of the carbon dioxide market in the future. The act and career of putting out fires and handling emergencies related to fires, primarily focused on safeguarding lives, properties, and the environment characterize firefighting. Carbon dioxide serves as a prevalent firefighting component in tailored fire suppression systems by supplanting oxygen and eliminating one of the conditions needed for combustion, thereby decreasing the likelihood of fire incidents and curtailing the magnitude of destruction. For example, the National Fire Protection Association, a non-profit organization based in the US, reported that in June 2023, there were 38 firefighter deaths and 51 volunteer deaths in 2022, marking an increase from 27 firefighter deaths and 35 volunteer deaths in 2021. Consequently, the rising need for firefighting is propelling the growth of the carbon dioxide market.

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How Has the Carbon Dioxide Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?

The size of the carbon dioxide market has escalated quickly in the preceding years. There will be a surge from $17.39 billion in 2024 to $19.98 billion in 2025, with a compound annual growth rate (CAGR) of 14.9%. The advancement during the historical timeframe can be credited to the expansion of emerging markets and a heightened demand in the medical sector.

It is anticipated that the carbon dioxide market will experience swift expansion in the upcoming years, with a projection to reach $33.05 billion by 2029, boasting a 13.4% compound annual growth rate (CAGR). The escalation in the forecasted period can be credited to the increasing requirement for frozen food and a surge in demand from the oil and gas sector. Noteworthy trends expected during this period involve the evolution of carbon dioxide separation technologies, an emphasis on carbon capture and usage, provisions to greenhouses, and contemplating mergers or acquisitions for enhancing market presence.

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What New Market Trends Are Reshaping theCarbon Dioxide Market and Its Opportunities?

Manufacturers of carbon dioxide are employing sophisticated carbon capture and storage (CCS) technologies to successfully imprison, purify, solidify, and preserve carbon dioxide. CCS functions by capturing carbon dioxide at the point of emission and relocating it to a reserved storage area. It’s a technology capable of seizing about 90% of the carbon dioxide emissions produced from burning fossil fuels for electricity and industrial procedures. CCS technologies provide an efficient means of capturing carbon dioxide and preventing it from being released into the atmosphere.

Who Are the Leading Market Players Fueling Growth in the Carbon Dioxide Market Trend?

Major companies operating in the carbon dioxide market include Linde PLC, Air Products and Chemical, Inc., Air Liquide, The Messer Group GmbH, Nippon Sanso Holdings Corporation, Air Water Inc, Gulf Cryo, SOL Spa, Reliant Gases, India Glycols Limited, Praxair Inc., Taiyo Nippon Sanso, Oxair, Yingde Gas Group Co., Ltd., Core Industrial Gases, Supagas, AMCS Corporation, Gagan Gases Ltd, Refex Industries, BOC UK, Altex, Climeworks AG, Carbon Clean, GRASYS, Continental Carbonic Products, Inc., Matheson Tri-Gas, Messer Gases del Peru S.A., WIKA Alexander Wiegand SE & Co. KG, Buzwair, Sasol, Gas Africa Limited, Carbacid Investments Limited, Afrox

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How is the Global Carbon Dioxide Market Segemented?

The carbon dioxide market covered in this report is segmented –

1) By Product Type: Liquid Carbon Dioxide, Solid Carbon Dioxide, Gaseous Carbon Dioxide

2) By Grade Type: Medical Grade, Food Grade, Industrial Grade, Other Grade

3) By Application: Food And Beverages, Oil And Gas, Medical, Rubber, Fire Fighting, Chemicals, Metal Products, Other Applications

Subsegments:

1) By Liquid Carbon Dioxide: Food and Beverage Grade Liquid CO2, Industrial Grade Liquid CO2, Pharmaceutical Grade Liquid CO2

2) By Solid Carbon Dioxide (Dry Ice): Food Packaging And Preservation, Refrigeration And Shipping, Blast Cleaning Applications

3) By Gaseous Carbon Dioxide: Industrial Applications (Welding, Metal Fabrication), Beverage Carbonation, Greenhouse Enrichment, Chemical Production

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Which Geographics are Influencing the Growth of the Carbon Dioxide Market?

Asia-Pacific was the largest region in the carbon dioxide market in 2024. North America was the second-largest region in the global carbon dioxide market. The regions covered in the carbon dioxide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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