Carbon Dioxide Market: Innovations Soar as Companies Vie for Competitive Edge

The Carbon Dioxide by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Carbon Dioxide, The carbon dioxide market size has grown rapidly in recent years. It will grow from $15.13 billion in 2023 to $17.32 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%.  The  growth in the historic period can be attributed to emerging markets growth, and increased demand from the medical industry.

The carbon dioxide market size is expected to see rapid growth in the next few years. It will grow to $29.05 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%.  The growth in the forecast period can be attributed to growing demand for frozen food, and growing demand from the oil and gas industry. Major trends in the forecast period include developing carbon dioxide separation technology, focusing on carbon capture and utilization, supplying to greenhouses, and considering mergers or the acquisition to increase market share.

The growing demand for firefighting is expected to propel the growth of the carbon dioxide market going forward. Firefighting is the practice and profession of extinguishing fires and managing emergency situations involving fires, with the primary goals of protecting life, property, and the environment. Carbon dioxide is widely used as a firefighting agent in specialized fire suppression systems by displacing oxygen and removing one of the elements required for combustion, reducing the risk of fire accidents and minimizing the extent of damage. For instance, in June 2023, according to the National Fire Protection Association, a US-based non-profit organization, there were 38 firefighters and 51 volunteer deaths in 2022, which is an increase of 27 firefighters and 35 volunteer deaths in 2021. Therefore, the growing demand for firefighting is driving the growth of the carbon dioxide market.

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The carbon dioxide market covered in this report is segmented –

1) By Product Type: Liquid Carbon Dioxide, Solid Carbon Dioxide, Gaseous Carbon Dioxide
2) By Grade Type: Medical Grade, Food Grade, Industrial Grade, Other Grade
3) By Application: Food & Beverages, Oil & Gas, Medical, Rubber, Fire Fighting, Chemicals, Metal Products, Other Applications

Major companies operating in the carbon dioxide market are focusing on the development of new products, to gain a competitive edge in the market. These innovations are used in cosmetic product that uses recycled carbon dioxide (CO2) as an ingredient. For Instance, In July 2022, Beiersdorf AG, a Germany-based personal-care products manufacturing company, launched NIVEA MEN Climate Care Moisturizer. NIVEA MEN Climate Care Moisturizer is manufactured with recycled carbon dioxide (CO2) and a carbon capture utilization process. For this product, carbon is collected and processed into ethanol, which is then used in the moisturizer. This is the first skin care product that uses ultramodern carbon dioxide (CO2) recycling technology.

The carbon dioxide market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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