The global carbon dioxide market size is expected to reach USD 9.3 billion by 2025

NEW YORK, Aug. 19, 2019 /PRNewswire/ --

Read the full report: https://www.reportlinker.com/p05807292/?utm_source=PRN

The global carbon dioxide market size is expected to reach USD 9.3 billion by 2025. The industry is estimated to expand at a CAGR of 3.4% from 2019 to 2025. Increasing consumption of CO2 in rapidly growing industries such as medical, food and beverage, and oil and gas is likely to strengthen demand.

The market is primarily driven by growing use of carbon dioxide in gas-based enhanced oil recovery (EOR).Depleting oil reserves, coupled with heavy dependence on crude oil imports, mainly in Asia Pacific, have led to the growth of EOR technology.

With an increase in demand for crude oil and natural gas, the supply-demand gap is also widening.

As CO2 is a greenhouse gas, it is known to have a severe environmental impact.This has resulted in numerous carbon emission initiatives and effective carbon prices around the globe.

New carbon pricing initiatives have been introduced at international, national, and subnational levels. In 2018, a total of 53 carbon pricing initiatives were implemented or are scheduled for implementation.

Ethyl alcohol was largest CO2 production source and accounted for over 30.0% of the total revenue in 2018. The economical processes involved, ease of production of carbon dioxide, and extensive availability of the source have led to initial penetration of the segment over the past few years. Substitute natural gas is projected to exhibit the highest volume-based CAGR of 3.3% over the forecast period.

Further key findings from the report suggest:
• Global demand for CO2 is expected to reach over 104,700 kilotons by 2025
• The food and beverages application segment accounted for the largest share in the market with a total demand of over 31,690 kilotons in 2018
• The North America CO2 market held the largest share in 2018 and is expected to reach just over 42,940 kilotons by 2025
• Asia Pacific is likely to emerge as the fastest growing regional market with a volume-based CAGR of 3.5% from 2019 to 2025
• China, India, Indonesia, and several Southeast Asian countries hold immense potential in the market thanks to rapid development in the oil and gas, medical, and food processing industries
• U.S. emerged as a major contributing country in 2018 and is projected to generate a net worth exceeding USD 2.8 billion by 2025
• Some of the noteworthy global CO2 manufacturers as well as distributors are Air Products & Chemicals Inc.; Linde AG; Praxair Inc.; and Air Liquide.

Read the full report: https://www.reportlinker.com/p05807292/?utm_source=PRN

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001

View original content:http://www.prnewswire.com/news-releases/the-global-carbon-dioxide-market-size-is-expected-to-reach-usd-9-3-billion-by-2025--300903600.html

SOURCE Reportlinker