Global CO2 Market 2018-2022
About this market
Oil and gas industry is the key contributors to the CO2 market as it mainly used for enhancing oil recovery in the oil and gas industry. Factors such as undergrounds deposits of CO2 are relatively inexpensive and can be extracted in large quantity, which has increase demand for CO2 in oil and gas industry prefer CO2. The increased use of nitrogen and carbon dioxide for oil recovery projects and high requirement of low- Sulphur diesel and gasoline, where these gases are used for Sulphur separation process will propel the growth of the market. Technavio’s market research analysts have predicted that the global CO2 market will register a CAGR of more than 13% by 2022.
Increasing number of applications in the food and beverages industry
CO2 is available in the solid, liquid and gaseous states. This liquid form is the most used form in the food and beverages industry. CO2 is used for processing all types of meat products and frozen specialties.
High manufacturing cost
Although CO2 is abundant in nature, the setting up of air separation plants for production this gas requires heavy investments. The volatility of raw material prices, rising cost of products and mode of packaging reduce profits margins of vendors, therefore this will hinder the medium and small vendors.
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The CO2 market is concentrated due to the presence of a few companies. The vendors in market rely on organic growth thorough M&A. The expansion of manufacturing capacities as major vendors increases their consumer base through expansion M&A, and strengthening distribution networks. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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