The global carbon dioxide
market size is expected to reach USD 8.6 billion by 2025, according to a new
report by Grand View Research, Inc. Increasing applications of enhanced oil
recovery (EOR) technology, owing to rising crude oil demand and number of mature
wells is anticipated to fuel the market growth over the next nine years.
Carbon dioxide is a high
profile greenhouse gas. However, the excessive amount of CO2 is being dumped
into the atmosphere from past few years due to the growth in industrialization.
This has resulted in global warming, suffocation of living organisms, and
various other health related problems which becomes toxic and harmful to
humans.
To control and regulate the
emission from CO2 in the atmosphere, government across the globe have formed
various regulations such as Directive 2009/31/EC and Carbon Pollution Standard
for new, modified and reconstructed power plants. These regulations have
formulated specific rules for the storage, transport, usage and limiting the
emission of carbon dioxide into the atmosphere.
Companies are also developing
advanced carbon capturing and storage technologies such as CCS for effectively
capturing, purifying, liquefying, and storing CO2. These companies are also
involved in developing effective systems for transporting CO2, which include
pipelines, ships, rail, and road tankers. Oil and gas is the major application
segment for carbon dioxide market from past few years. Growing demand for crude
oil and advancement in the EOR technologies are the major factor fueling the
growth in this segment. In 2015, oil
& gas application was followed by food & beverages sector in terms of
growth. Increasing demand for carbonation of beverages is anticipated to drive
the growth of food & beverages market segment.
In depth research report on Carbon Dioxide
(CO2) Market
Further Key Findings from the Study Suggest:
•
The global carbon dioxide
demand was USD 6.0 billion in 2015 and is expected to grow at a CAGR of 3.7%
from 2016 to 2025
•
Ethyl alcohol dominated the
source segment with over 34% of the market share in 2015 owing to the extensive
availability of resources, and cheap processes involved
•
Asia Pacific region had a
market share of over 30% in 2015. The market in the region is expected to grow
due to rising demand in the food & beverage industry, especially in the
emerging economies.
•
North America was the dominant
market in 2015, and the Middle East and Africa is anticipated to have the
highest growth rate over the forecast period
•
The market is highly
consolidated and competitive in nature. Some of the major industry participants
include Linde AG, Air Products and Chemical, Inc., Praxair, Inc., and Air
Liquide.
Grand View Research has
segmented the carbon dioxide market on the basis of source, application, and
region:
Carbon Dioxide Source Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
•
Hydrogen
•
Ethyl alcohol
•
Ethylene oxide
•
Substitute natural gas
•
Others
Carbon Dioxide Application Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2025)
•
Food & beverages
•
Oil & gas
•
Medical
•
Rubber
•
Fire fighting
•
Others
Carbon Dioxide Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
•
North America
o
U.S
o
Canada
o
Mexico
•
Europe
o
Germany
o
UK
o
France
o
Italy
o
Spain
•
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
•
Central & South America
o
Brazil
o
Argentina
•
Middle East and Africa
o
Saudi Arabia
o
UAE
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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