Market price

Liquefied CO2 Market Price Trends, Growth, Production

The global liquefied CO2 market is set to grow on a graceful note over the next decade. With sustainable or green chemistry emphasizing the manufacture of products that eliminate or reduce the production or application of hazardous materials, key stakeholders place environmental friendliness above all else. The over-deployment of waste-to-energy (WtE) solutions is set to dominate the chemical vertical in the future.

Liquefied CO2 Market: Introduction
Liquefied CO2 is also called a cryogenic liquid which is a colorless, odorless and non-flammable liquid. The liquefied CO2 transforms into a crystalline structure when it is evacuated from its container. Liquefied CO2 is inert and stable under atmospheric conditions and is slightly acidic in nature. Liquefied CO2 is extracted from various types of sources such as hydrogen plants and ammonia in its purified and liquefied form. Large-scale industries such as electric cement plants and steel mills produce CO2 as a by-product which is pressurized to produce liquefied CO2 for a wide variety of applications in different sectors such as food, health care, among others.

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Liquefied CO2 market: Dynamics
Rising industrialization with a huge share in R&D for innovative technologies in enhanced oil recovery (EOR) and carbon capture and storage (CCS) has led to an increase in demand for liquefied CO2. EOR technology used to extract a large number of resources from oil and gas reservoirs. While CCS technology is used to capture and store liquefied CO2 which is then used for a wide variety of industrial applications such as replacing chlorofluorocarbon (CFC) in plastic foam production. Additionally, rise in juice and beverage industries owing to growing demand for various flavored carbonated beverages among consumers is also driving the demand for liquefied CO2 as it offers flavor enhancement, product stability, flavor , texture impression and freshness perception in food and beverage products.

Additionally, the growth of agriculture industry due to increase in population is also fueling the demand for liquefied CO2 as it is widely used for pest control in cereals. The other notable applications of liquefied CO2 are wastewater treatment owing to the growing concern over the environment which is also driving the liquefied CO2 market. Various government regulations such as Central Pollution Control Board (CPCB), Environmental Protection Agency (EPA), Food and Drug Administration (FDA) have limited the harmful emission of carbon dioxide when produced as a sub -product, which is helpful in creating less harmful environmental impact which is hindering the Liquefied CO2 market. The global liquefied CO2 market is considered to be a highly concentrated market with the presence of raw material suppliers, manufacturers, and end-use industries that have established their presence in particular or multi-regional markets.

Liquefied CO2 market: segmentation
• Hydrogen
• Ethyl alcohol
• Ammonia
• natural gas
• Others

• Food and drinks
• Chemical products
• Electronics
• Agriculture
• Health care
• Wastewater

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Liquefied CO2 market: regional outlook
The growth of Enhanced Oil Recovery (EOR) technology generally in North America and Middle East and Africa region is expected to outpace the growth of Liquefied CO2 industry in the coming period. North America has immensely dominated the liquefied CO2 market in recent years and is expected to maintain its position in the years to come.

These regions are expected to propel the liquefied CO2 market over the forecast period with regards to growing industrialization developments and immense consumption of CO2 in various end-use industries. The Middle East and Africa is considered to be the fastest growing market in the coming years, due to rising spending in the oil and gas industries. A region like Asia-Pacific should show an adequate level of growth over the period. The region is expected to show increased demand for liquefied CO2 from chemical and beverage industries, mainly from developing economies such as India, China, etc.

Liquefied CO2 Market: Key Players
Some of the Major Market Players in the Liquefied CO2 Market are:-
• Universal Industrial Gases, Inc.
• Philippine CO2 Industry Inc.
• Yara International ASA
• STAINLESS Air Products Ltd.
• Continental Carbonic Products, Inc.
• Cosmo Engineering Co. Ltd.
• Air Products and Chemical, Inc.,
• Praxair, Inc.,
• Liquid air
• Linde AG
• Showa Denko Gas Products Co., Ltd.

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This press release was published on openPR.