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Global Carbon Dioxide/ CO2 Market: Overview

Over the period of 2020 to 2030, the global carbon dioxide/CO2 market is set to record a sluggish growth rate and moderate increase in its valuation. As per Transparency Market Research, growing demand for CO2 in healthcare is a notable growth factor and increasing demand for aerated drinks will lead to increase in demand for food-grade carbon dioxide over the stated period. Countries with EOR will account for notable share of the market. It is worth noting here that this is the reason that North America will remain a lucrative market over the coming years.

Global Carbon Dioxide/ CO2 Market: Competitive Landscape

The market for carbon dioxide/CO2 is consolidated to a certain extent as top tier companies claim approximately 60% of total revenue share. To grow in such a competitive environment, other players opt for measures such as increase in production capacity and alliances. One of the biggest challenges faced by these players is limited geographic presence. This is also the reason why mid-sized companies have directed massive efforts towards growth in regional sales.

Players in the global carbon dioxide/CO2 market who have made their mark in the vendor landscape include:

  • Schlumberger
  • CIRCOR International
  • Parker Hannifin
  • Metso Corporation
  • Emerson Electric
  • Watts Water Technologies
  • BHGE
  • National Oilwell Varco
  • The Weir Group
  • IMI
  • Armstrong

It is pertinent to note here that the highly competitive market landscape of global carbon dioxide/CO2 market is set to witness players dabbling with extensive research and development activities over the forecast period.

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Global Carbon Dioxide/ CO2 Market: Key Trends and Drivers

Used in varied application, carbon dioxide is set to witness increase in demand at the back of expansion in end-use industries. Some of the top trends and drivers that are keeping the global carbon dioxide/CO2 market buoyant over the forecast period are delineated below:

  • Technological advancement is paving way for growth in the market in a major way. It is pertinent to note here that increased investment towards this goal is also being observed. It is set to drive the market on a high growth trajectory in the future. Research and development in technology apropos carbon capture and storage, EOR have been crucial for growth in recent years.
  • Increasing demand in food and beverages industry – result of higher disposable income and population growth - is anticipated to fuel growth in the global carbon dioxide/CO2 market over the forecast period. Mainly used in aerated drinks, carbon dioxide used in food and beverages industry is a by-product of ethanol-based plants.

Global Carbon Dioxide/ CO2 Market: Regional Analysis

The region that is set to be the dominant market over the forecast period is that of North America. It will mainly be a result of major contributions to revenue coming in from Canada and the United States of America. The countries are consuming vast quantities of carbon dioxide for use in process of enhanced oil recovery.

On the other hand, Asia Pacific (APAC) region will also be a lucrative market over the forecast period owing to its high CAGR, anticipated for the next few years, that will lead to generation of untapped opportunities for market players. Expansion of end-use industries in the region will be responsible for growth in demand for carbon dioxide. China will be a notable contributor to the region’s growth, being a key consumer of CO2.

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Carbon Dioxide Co2 Market