How big is the CO2 market | Global Size, Share & Forecast to 2025

Q: What is the current size of the CO₂ market?

The CO₂ market was valued at USD 9.4 billion in 2024 and is projected to reach USD 17.6 billion by 2031.

Q: What is the growth rate of the CO₂ market?

The CO₂ market is expected to grow at a CAGR of 9.4% during the forecast period of 2025 to 2031.

Q: Which applications contribute the most in the CO₂ market?

Carbonation, refrigeration, medical gases, enhanced oil recovery, welding, packaging, and water treatment.

Q: What is driving demand in the CO₂ market?

Food and beverage growth, medical usage, carbon capture tech, and industrial applications are boosting demand.

Q: What challenges does the CO₂ market face?

High capture costs, transport issues, storage infrastructure limitations, and environmental regulations.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA5352

Publication Date: Jul 2025

How big is the COâ‚‚ Market?

According to 6Wresearch internal database and industry insights, the Global Carbon Dioxide Market was valued at USD 6.5 Billion in 2024 and is expected to reach USD 9.9 Billion by 2031, growing at a compound annual growth rate of 6.60% during the forecast period (2025-2031).

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This growth is driven by increasing demand across food & beverages, healthcare, chemicals, and enhanced oil recovery (EOR). The rising use of COâ‚‚ in carbonated drinks, refrigeration, medical applications, and industrial processes is propelling market expansion.

Key Growth Drivers of the COâ‚‚ Market

Rising demand from the food and beverage industry for carbonation and refrigeration
Expanding use of COâ‚‚ in medical procedures and pharmaceutical manufacturing
Growing adoption in oil recovery, welding, and fire suppression systems
Increasing investments in sustainable COâ‚‚ capture and utilization technologies
Supportive regulatory frameworks for carbon capture and reuse

COâ‚‚ Market Trends

The COâ‚‚ market is witnessing growing adoption in greenhouses for plant growth enhancement and in cold chain logistics. Industrial gas companies are focusing on COâ‚‚ purification and recovery technologies to reduce emissions and ensure supply. There is increasing use of COâ‚‚ in water treatment, packaging, and synthetic fuel production. Technological advancements in carbon capture and storage (CCS) are opening new avenues for commercial COâ‚‚ utilization. The demand for food-grade COâ‚‚ is rising sharply with the expansion of the packaged food industry.

Emerging Developments in the COâ‚‚ Market

New developments include COâ‚‚-to-fuel and COâ‚‚-to-chemical conversion technologies aimed at sustainable energy solutions. Companies are investing in modular and mobile COâ‚‚ capture units for decentralized operations. Startups are experimenting with algae-based COâ‚‚ utilization and concrete manufacturing using captured COâ‚‚. Partnerships between energy firms and environmental tech companies are enabling large-scale deployment of CCS systems. Government-funded projects are supporting innovation in low-emission COâ‚‚ processing infrastructure.