According to the research report titled ‘Global Carbon Dioxide Market 2019-2028’, available with MarketStudyReport, revenue and volume of global carbon dioxide market are expected to grow at a CAGR of 3.02% and 2.59% in terms of revenue and volume, respectively, over the forecast timeframe of 2019-2028.
 

As per the findings of the report, growing usage of carbon dioxide flooding for better oil recovery will mainly drive the worldwide carbon dioxide market expansion during the forecast years. Moreover, rising customer purchasing power and subsequent spike in the demand for soft drinks are also enhancing the market outlook.
 

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Furthermore, escalating adoption of carbon dioxide in medical sector will create new business opportunities for the market. On the contrary, expensive CCS (carbon capture and storage) combined with concerns regarding environmental degradation are likely to pose threat to the industry expansion.
 

Based on source, the market is split into ethyl alcohol, hydrogen, ethylene oxide, substitute natural gas, and others. In terms of application, oil & gas, medical, food & beverages, rubber, medical, and firefighting are the major segments covered in the research literature
 

The report also includes a comprehensive analysis of carbon dioxide industry at national, as well as regional levels. To elaborate, the market size, as per the report, is bifurcated into North America (U.S., Canada), Europe (UK, Germany, Spain, France, Russia, Italy, Rest of Europe), MEA (South Africa, Turkey, Saudi Arabia, UAE), Asia Pacific (Japan, China, South Korea, India, Australia, New Zealand, Rest of APAC), and Latin America (Mexico and Brazil).
 

Among the mentioned regions, Asia-Pacific is expected to progress at a rapid pace over 2019-2028, owing to the emerging health & wellness trend, and escalating demand for organic healthy drinks in nations such as South Korea.
 

With respect to competitive analysis, Inox Air Products Pvt. Ltd. (Air Products and Chemicals Inc.), Air Liquide S.A., BOC Ltd., Matheson Tri-Gas Inc., Cosmo Engineering Co. Ltd., Continental Carbonic Products Inc., Linde plc, Air Products and Chemicals Inc., Airgas Inc., and Universal Industrial Gases Inc. are the major companies influencing the global carbon dioxide market dynamics.