The global carbon dioxide market size is predicted to reach USD 12.15 Billion by 2027, exhibiting a CAGR of 2.5% during the forecast period. The growing construction of water treatment plants in developing nations will spur the demand of the market in the forthcoming years. The rising oil exploration and drilling activities will necessitate the use of solvents in the process, which, in turn, will boost the carbon dioxide market growth during the forecast period, states Fortune Business Insights in a report
Carbon dioxide (CO2) is a colorless, odorless gas that is naturally present in the Earth’s atmosphere. It is made up of one carbon atom and two oxygen atoms, and has a molecular weight of 44.01 g/mol. Carbon dioxide is produced by a variety of natural and human activities, including volcanic eruptions, respiration, and the burning of fossil fuels.
Carbon dioxide is a greenhouse gas, which means that it absorbs and emits infrared radiation within the thermal infrared range. This property allows it to trap heat in the Earth’s atmosphere and contribute to the greenhouse effect. In recent decades, the concentration of carbon dioxide in the atmosphere has increased significantly due to human activities, particularly the burning of fossil fuels such as coal, oil, and natural gas.
The increase in carbon dioxide levels has led to concerns about climate change, as higher concentrations of greenhouse gases are expected to lead to global warming and changes in the Earth’s climate patterns. Efforts are being made to reduce carbon dioxide emissions through a variety of means, including the use of renewable energy sources, carbon capture and storage technologies, and policies to promote energy efficiency and conservation.
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March 2019: Air Products announced that it has acquired ACP Europe SA, one of the largest biggest carbon dioxide manufacturers in Europe. The acquisition will aid the company to cater to the demand for carbon dioxide and better serve its customer across the European continent.
The Report Lists the Main Companies in the Carbon Dioxide Market:
- Linde plc (Ireland)
- Air Products and Chemicals, Inc. (U.S.)
- Air Liquide (France)
- Sicgil India limited (India)
- Matheson Tri-Gas, Inc.(U.S.)
- Universal Industrial Gases, Inc.(U.S.)
- The Messer Group GmbH (Germany)
- SOL Spa (Italy)
- POET, LLC(U.S.)
- Reliant Gases(U.S.)
- India Glycols Limited (India)