Carbon Dioxide Market Projected to Achieve $17.77 Billion by 2034 | CAGR: 5.2%
The global carbon dioxide market was valued at USD 10.67 billion in 2024. It is projected to grow from USD 11.22 billion in 2025 to USD 17.77 billion by 2034, registering a compound annual growth rate (CAGR) of 5.2% during the forecast period (2025–2034). The increasing adoption of CO₂ in food and beverage applications is a key factor driving market demand.
Carbon Dioxide Market Key Trends & Insights:
- Growth in Carbon Capture, Utilization, and Storage (CCUS): There is increasing investment in CCUS technologies as industries look to reduce emissions and repurpose captured CO₂ for enhanced oil recovery, chemical production, and sustainable fuels.
- Widespread Use in Food & Beverage and Energy Sectors: CO₂ continues to be in high demand for beverage carbonation, food preservation, and enhanced oil recovery (EOR), maintaining its importance across a wide range of industries.
- Regional Demand Shifts and Infrastructure Growth: North America remains a leader in CO₂ infrastructure and industrial use, while Asia-Pacific sees rapid growth driven by industrial expansion, urbanization, and rising demand in the food and beverage sector.
- Emergence of Circular CO₂ Economy: Innovations are emerging to convert CO₂ into value-added products such as synthetic fuels, building materials, and bioplastics, promoting sustainability and resource efficiency.
- Environmental Regulations and Market Volatility: Tighter emissions regulations and carbon pricing mechanisms are influencing CO₂ production and usage patterns, although inconsistent policies and fluctuating raw material costs pose challenges.
Market Size & Forecast:
- Market size value in 2025 – USD 11.22 billion
- Revenue forecast in 2034 – USD 17.77 billion
- CAGR – 5.2% from 2025 – 2034
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/carbon-dioxide-market/request-for-sample
Carbon Dioxide Market Overview:
The carbon dioxide market includes the production and wide-ranging use of CO₂ across various industries. Major demand comes from its role in urea production for fertilizers and enhanced oil recovery in the oil and gas sector. It is also extensively used in carbonated beverages, metal fabrication, refrigeration, fire suppression systems, and greenhouse enrichment. CO₂ is available in gaseous, liquid, and solid forms, with liquid CO₂ being the most commonly used due to its versatility. The market is geographically concentrated in regions such as North America, Europe, and Asia-Pacific, where industrial and commercial applications are well-established.
Market growth is being driven by increasing industrialization, expansion of the food and beverage sector, and rising applications in healthcare and enhanced oil recovery. Additionally, there is a growing focus on sustainability, with technologies like carbon capture, utilization, and storage (CCUS) gaining momentum. Carbon dioxide is also being explored for use in producing alternative fuels and chemicals, contributing to the shift toward greener solutions. The development of voluntary and compliance-based carbon markets, such as emissions trading systems and carbon credits, is further influencing demand. Ongoing innovation in CO₂ recycling and its integration into sustainable industrial practices are shaping the future of the market.
