Europe Carbon Dioxide Market Size, Share, Trends, Industry Analysis Report By Source (Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, Others), By Application, By Country – Market Forecast, 2025–2034
Description
The europe carbon dioxide market size is expected to reach USD 2.55 billion by 2034, according to a new study by Polaris Market Research. The report “Europe Carbon Dioxide (CO₂) Market Share, Size, Trends, Industry Analysis Report By Source (Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, Others), By Application, By Country; Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Carbon dioxide (CO₂) in Europe is primarily emitted through energy production, transportation, industry, and residential heating, largely due to the burning of fossil fuels. The European Union has implemented stringent policies to reduce CO₂ emissions, including the European Green Deal and the Emissions Trading System (ETS), as part of its commitment to combating climate change. The shift toward renewable energy, improved energy efficiency, and electrification of transport are key strategies to lower CO₂ output. Reducing CO₂ emissions offers significant advantages, including improved air quality, enhanced energy security, and progress toward climate neutrality by 2050.
Europe is also investing in carbon capture, utilization, and storage (CCUS) technologies to manage residual emissions. Monitoring and reporting systems ensure transparency and accountability. Overall, managing CO₂ emissions is crucial to Europe’s environmental, economic, and social sustainability goals.
Europe Carbon Dioxide (CO₂) Market Report Highlights
In terms of source, the ethyl alcohol segment accounted for 31.76% of revenue share in 2024 due to extensive use of ethanol fermentation in the region’s beverage and biofuel industries, which generates CO₂ as a valuable byproduct.
Based on application, the oil & gas segment held 67.31% of revenue share in 2024 due to widespread use of carbon dioxide in enhanced oil recovery (EOR) operations, where it helps increase crude extraction efficiency from reservoirs.
The UK accounted for 42.07% of the Europe carbon dioxide (CO₂) market share in 2024. This is attributed to its strong presence in oil and gas operations and advanced carbon capture initiatives.
The market in Germany is expected to grow at a CAGR of 3.99% from 2025 to 2034, owing to rising CO₂ demand across food, beverage, and industrial sectors. The country’s large-scale beverage production industry, with strong exports of carbonated drinks and beers, is heavily driving CO₂ consumption.
A few key players in the Europe carbon dioxide (CO₂) market include Air Liquide S.A.; Air Products and Chemicals, Inc.; LanzaTech Global, Inc.; Linde PLC; Messer Group GmbH; Orlen; Ørsted A/S; RWE AG; SIAD Group; SOL Group; and Vattenfall AB.
Polaris Market Research has segmented the market report on the basis of source, application, and country:
By Source Outlook (Revenue, USD Billion, Volume Kiloton, 2020–2034)
Hydrogen
Ethyl Alcohol
Ethylene Oxide
Substitute Natural Gas
Others
By Application Outlook (Revenue, USD Billion, Volume Kiloton, 2020–2034)
Food & Beverages
Oil & Gas
Medical
Rubber
Firefighting
Others
By Country Outlook (Revenue, USD Billion, Volume Kiloton, 2020–2034)
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Carbon dioxide (CO₂) in Europe is primarily emitted through energy production, transportation, industry, and residential heating, largely due to the burning of fossil fuels. The European Union has implemented stringent policies to reduce CO₂ emissions, including the European Green Deal and the Emissions Trading System (ETS), as part of its commitment to combating climate change. The shift toward renewable energy, improved energy efficiency, and electrification of transport are key strategies to lower CO₂ output. Reducing CO₂ emissions offers significant advantages, including improved air quality, enhanced energy security, and progress toward climate neutrality by 2050.
Europe is also investing in carbon capture, utilization, and storage (CCUS) technologies to manage residual emissions. Monitoring and reporting systems ensure transparency and accountability. Overall, managing CO₂ emissions is crucial to Europe’s environmental, economic, and social sustainability goals.
Europe Carbon Dioxide (CO₂) Market Report Highlights
In terms of source, the ethyl alcohol segment accounted for 31.76% of revenue share in 2024 due to extensive use of ethanol fermentation in the region’s beverage and biofuel industries, which generates CO₂ as a valuable byproduct.
Based on application, the oil & gas segment held 67.31% of revenue share in 2024 due to widespread use of carbon dioxide in enhanced oil recovery (EOR) operations, where it helps increase crude extraction efficiency from reservoirs.
The UK accounted for 42.07% of the Europe carbon dioxide (CO₂) market share in 2024. This is attributed to its strong presence in oil and gas operations and advanced carbon capture initiatives.
The market in Germany is expected to grow at a CAGR of 3.99% from 2025 to 2034, owing to rising CO₂ demand across food, beverage, and industrial sectors. The country’s large-scale beverage production industry, with strong exports of carbonated drinks and beers, is heavily driving CO₂ consumption.
A few key players in the Europe carbon dioxide (CO₂) market include Air Liquide S.A.; Air Products and Chemicals, Inc.; LanzaTech Global, Inc.; Linde PLC; Messer Group GmbH; Orlen; Ørsted A/S; RWE AG; SIAD Group; SOL Group; and Vattenfall AB.
Polaris Market Research has segmented the market report on the basis of source, application, and country:
By Source Outlook (Revenue, USD Billion, Volume Kiloton, 2020–2034)
Hydrogen
Ethyl Alcohol
Ethylene Oxide
Substitute Natural Gas
Others
By Application Outlook (Revenue, USD Billion, Volume Kiloton, 2020–2034)
Food & Beverages
Oil & Gas
Medical
Rubber
Firefighting
Others
By Country Outlook (Revenue, USD Billion, Volume Kiloton, 2020–2034)
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Table of Contents
124 Pages
- 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
- 2. Executive Summary
- 2.1. Market Highlights
- 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
- 4. U.S. Carbon Dioxide (CO₂) Market Insights
- 4.1. Carbon Dioxide (CO₂) Market – Market Snapshot
- 4.2. Carbon Dioxide (CO₂) Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Expanding Beverage Industry
- 4.2.1.2. Growing Urbanization
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High Energy Consumption in Capturing and Storing CO2
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Carbon Dioxide (CO₂) Market Trends
- 4.6. Value Chain Analysis
- 5. U.S. Carbon Dioxide (CO₂) Market, by Source
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. U.S. Carbon Dioxide (CO₂) Market, by Source, 2020-2034 (USD Billion, Volume Kiloton)
- 5.3. Hydrogen
- 5.3.1. U.S. Carbon Dioxide (CO₂) Market, by Hydrogen, by Region, 2020-2034 (USD Billion, Volume Kiloton)
- 5.4. Ethyl Alcohol
- 5.4.1. U.S. Carbon Dioxide (CO₂) Market, by Ethyl Alcohol, by Region, 2020-2034 (USD Billion, Volume Kiloton)
- 5.5. Ethylene Oxide
- 5.5.1. U.S. Carbon Dioxide (CO₂) Market, by Ethylene Oxide, by Region, 2020-2034 (USD Billion, Volume Kiloton)
- 5.6. Substitute Natural Gas
- 5.6.1. U.S. Carbon Dioxide (CO₂) Market, by Substitute Natural Gas, by Region, 2020-2034 (USD Billion, Volume Kiloton)
- 5.7. Others
- 5.7.1. U.S. Carbon Dioxide (CO₂) Market, by Others, by Region, 2020-2034 (USD Billion, Volume Kiloton)
- 6. U.S. Carbon Dioxide (CO₂) Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. U.S. Carbon Dioxide (CO₂) Market, by Application, 2020-2034 (USD Billion, Volume Kiloton)
- 6.3. Food & Beverages
- 6.3.1. U.S. Carbon Dioxide (CO₂) Market, by Food & Beverages, by Region, 2020-2034 (USD Billion, Volume Kiloton)
- 6.4. Oil & Gas
- 6.4.1. U.S. Carbon Dioxide (CO₂) Market, by Oil & Gas, by Region, 2020-2034 (USD Billion, Volume Kiloton)
- 6.5. Medical
- 6.5.1. U.S. Carbon Dioxide (CO₂) Market, by Medical, by Region, 2020-2034 (USD Billion, Volume Kiloton)
- 6.6. Rubber
- 6.6.1. U.S. Carbon Dioxide (CO₂) Market, by Rubber, by Region, 2020-2034 (USD Billion, Volume Kiloton)
- 6.7. Firefighting
- 6.7.1. U.S. Carbon Dioxide (CO₂) Market, by Firefighting, by Region, 2020-2034 (USD Billion, Volume Kiloton)
- 6.8. Others
- 6.8.1. U.S. Carbon Dioxide (CO₂) Market, by Others, by Region, 2020-2034 (USD Billion, Volume Kiloton)
- 7. Competitive Landscape
- 7.1. Expansion and Acquisition Analysis
- 7.1.1. Expansion
- 7.1.2. Acquisitions
- 7.2. Partnerships/Collaborations/Agreements/Exhibitions
- 8. Company Profiles
- 8.1. Air Liquide USA LLC
- 8.1.1. Company Overview
- 8.1.2. Financial Performance
- 8.1.3. Product Benchmarking
- 8.1.4. Recent Development
- 8.2. Air Products and Chemicals, Inc.
- 8.2.1. Company Overview
- 8.2.2. Financial Performance
- 8.2.3. Product Benchmarking
- 8.2.4. Recent Development
- 8.3. Continental Carbonic Products, Inc.
- 8.3.1. Company Overview
- 8.3.2. Financial Performance
- 8.3.3. Product Benchmarking
- 8.3.4. Recent Development
- 8.4. Greco Gas Inc.
- 8.4.1. Company Overview
- 8.4.2. Financial Performance
- 8.4.3. Product Benchmarking
- 8.4.4. Recent Development
- 8.5. Linde plc
- 8.5.1. Company Overview
- 8.5.2. Financial Performance
- 8.5.3. Product Benchmarking
- 8.5.4. Recent Development
- 8.6. Matheson
- 8.6.1. Company Overview
- 8.6.2. Financial Performance
- 8.6.3. Product Benchmarking
- 8.6.4. Recent Development
- 8.7. Messer Group GmbH
- 8.7.1. Company Overview
- 8.7.2. Financial Performance
- 8.7.3. Product Benchmarking
- 8.7.4. Recent Development
- 8.8. TAIYO NIPPON SANSO CORPORATION
- 8.8.1. Company Overview
- 8.8.2. Financial Performance
- 8.8.3. Product Benchmarking
- 8.8.4. Recent Development
- 8.9. UNIVERSAL AIR PRODUCTS PVT LTD
- 8.9.1. Company Overview
- 8.9.2. Financial Performance
- 8.9.3. Product Benchmarking
- 8.9.4. Recent Development
- 8.10. SABIC
- 8.10.1. Company Overview
- 8.10.2. Financial Performance
- 8.10.3. Product Benchmarking
- 8.10.4. Recent Development
- 8.11. Zephyr Solutions, LLC
- 8.11.1. Company Overview
- 8.11.2. Financial Performance
- 8.11.3. Product Benchmarking
- 8.11.4. Recent Development
Pricing
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