According to the research report titled ‘Global Carbon Dioxide Market 2019-2028’, available with Market Study Report, global carbon dioxide market is anticipated to record a CAGR of 3.02% and 2.59% with respect to revenue and volume, respectively, throughout 2019-2028.
 

Growing usage of carbon dioxide flooding process for enhanced oil recovery is the major factor driving the global carbon dioxide market growth. Additionally, rising demand for soft drinks owing to increasing disposable incomes of people is fostering the industry share. Moreover, cognizance about potential applications of carbon dioxide in the medical sector is poised to generate lucrative opportunities for the market over the analysis period.
 

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On the downside, high cost associated with CCS (carbon capture and storage) is likely to restrain the market development over the estimated timeline. Moreover, growing concerns related to environmental pollution is posing as a challenge to the market growth.
 

Based on source, worldwide carbon dioxide industry is segmented into ethylene oxide, hydrogen, ethyl alcohol, substitute natural gas, and others. Considering the application range, the marketplace is categorized into food & beverages, oil & gas, medical, firefighting, rubber, and others.
 

The geographical analysis of the industry sphere extends to Latin America, Middle East & Africa, Asia Pacific, Europe, and North America. Expert analysts speculate that Asia Pacific market is reckoned to showcase substantial growth over the forecast timeline, accredited to rising demand for healthy drinks.  Notably, awareness about health & wellness is gaining traction in the native countries, impelling the sales of healthy beverages, thus propelling the demand for carbon dioxide and generating revenues.
 

Prominent players influencing global carbon dioxide industry trends are Cosmo Engineering Co. Ltd., Air Liquide S.A., BOC Ltd., Matheson Tri-Gas Inc., Continental Carbonic Products Inc., Airgas Inc., Inox Air Products Private Limited, s., Linde plc, and Universal Industrial Gases Inc.