Carbon Dioxide Market & Trends and By Region – Global Opportunities & Forecast, 2020-2027

Carbon Dioxide Market

The Carbon Dioxide Market is likely to expand at a noteworthy rate of 3.6% over the analysis period, as per the GMI Research. The intensified investment in research and development for sophisticated technologies in EOR and the growing agitation towards the negative influence of carbon discharge has strengthened the market size.

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Carbon Dioxide Market Dynamics

The growth in the carbon dioxide market is primarily attributed to the increasing usage of carbon dioxide in the medical, food & beverage, and oil and gas industry for enhanced oil operations. The growing application of carbon dioxide in the medical industry because of its enormous applications such as respiratory stimulation, cryotherapy, stabilizing body cavities, and negligibly infectious surgeries will strengthen the market growth. Also, it finds its immense usage in the tissue freezing and tooth sensitivity assessment. The augmenting enhanced oil recovery functions by various upstream companies to sustain their productivity levels will bolster the market growth. Carbon dioxide is extensively used in several applications in the food and beverage sector as it helps in the carbonation of drinks by poultry, freezing meat, and food-grade CO2. However, the increasing agitation towards the transportation of carbon dioxide is likely to restrain the market growth. Pipelines help in the transportation of CO2, but the insufficient norms concerned with the certification of pipelines quality might curb the Carbon Dioxide Market size.

Source Segment Drivers

Based on the source, the hydrogen segment is anticipated to experience significant growth over the coming years. Carbon dioxide is generally acquired as a by-product at the time of hydrogen production. Several processes used to produce hydrogen include electrolytic processes and thermochemical processes. As per the Carbon Dioxide Market research, these processes produce carbon dioxide as a by-product, which stimulates the production of hydrogen, further supplementing the market growth.

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