The global carbon dioxide (CO2) market is expected to surge ahead at a CAGR of over 8% from 2021 to 2031. The F&B industry is the largest end user of carbon dioxide, with a market share of over 40% globally.
Carbon dioxide is fundamentally a greenhouse gas, which is crucial for the Earth’s ecosystem and can be recovered from flue gases, as a by-product from the manufacture of hydrogen for ammonia synthesis, from limekilns, and many other sources. Over the past half-decade, the market has been steadily growing owing to increasing demand from metal manufacturing & fabrication, food & packaging, oil & gas, and related industries.
The latest market research report analyzes Carbon Dioxide Market demand by Different segments. Providing business leaders with insights On Carbon Dioxide And how they can increase their market share.
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Key Market Segments Covered in Report
- By Production
- By Delivery
- By End Use
- Metal Manufacturing & Fabrication
- Food & Beverages
- Pulp & Paper
- Oil & Gas
- Other Industrial
- North America
- Latin America
- Asia Pacific Except China
- Middle East & Africa
What are the key challenges faced by carbon dioxide manufacturers?
One of the major challenges faced by carbon dioxide producers is the GHGs (Green House Gases) rule in various regions. Stringent regulations pertaining to carbon dioxide production are affecting its production. Regulatory bodies in various regions are focusing on cutting carbon emissions by 2050, which is one the prime reasons for the imposition for such stringent laws. Breaching those regulations could result in long production stoppages, reflecting reduction in cash flow.
Also, for key players, energy has been the largest cost item in the production and distribution of carbon dioxide. Electricity, natural gas, and diesel fuel serve as the major energy sources for the production and distribution of carbon dioxide. Efficiency and cost of energy remain a major problem for industry players.