Market Forecast By Source (Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, Others), By Application (Food & Beverages, Oil & Gas, Medical, Rubber, Fire Fighting, Others) And Competitive Landscape
Product Code: ETC083322 | Publication Date: Jun 2021 | Updated Date: Jan 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
South Korea Carbon Dioxide market currently, in 2023, has witnessed an HHI of 6353, Which has increased moderately as compared to the HHI of 2411 in 2017. The market is moving towards Highly concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
South Korea Carbon Dioxide Market report thoroughly covers the market by source and application. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
South Korea Carbon Dioxide Market is experiencing significant growth and projected to attain more growth in the coming years due to the chemical sector utilizes CO2 for various synthesis processes. However, increased awareness of climate change and the push for sustainability are prompting the government and industries to adopt carbon capture and utilization technologies. These efforts aim to mitigate the environmental impact while supporting the country's economic growth.
According to 6Wresearch, South Korea Carbon Dioxide Market size is expected to grow at a significant CAGR of 5.9% during the forecast period 2025-2031. Several factors are driving the growth of South Korea Carbon Dioxide Market such as the rising demand from the food and beverage industry, where carbon dioxide is essential for carbonation and preservation, is a significant factor. Apart from this, advancements in carbon capture and utilization (CCU) technologies are transforming how industries manage CO2 emissions, making it a valuable resource rather than a pollutant.
The chemical sector's increasing reliance on carbon dioxide for various synthesis processes is fostering market expansion. Additionally, stringent government regulations focused on reducing carbon footprints and the adoption of sustainable practices are serving as critical catalysts for South Korea Carbon Dioxide Market growth.
However, the market faces few restraints such as the high cost associated with the implementation of carbon capture and utilization (CCU) technologies. The initial investment required for setting up CCU infrastructure is considerable, which can be a deterrent for small and medium-sized enterprises. Apart from this, the operational and maintenance costs of these technologies can also be prohibitive, affecting the overall economic viability. Additionally, the fluctuating availability and price of raw materials required for CO2 production, which can lead to supply chain disruptions.
South Korea Carbon Dioxide Market is defined by the presence of several key players. The collaboration between these companies and government bodies is essential for driving the market forward, ensuring regulatory compliance and fostering an ecosystem of innovation. Key players are Linde Korea, Air Liquide Korea, Praxair Korea, SK Materials, OCI Company Ltd.
South Korea Carbon Dioxide Market is growing and government’s regulation and policies are helping in extension of the market. the establishment of stringent regulations aimed at reducing carbon emissions across various industries. These regulations not only mandate emission reduction targets but also provide incentives for companies that adopt green technologies and practices. Additionally, the government is investing heavily in research and development to advance carbon capture and utilization (CCU) technologies.
The future of South Korea Carbon Dioxide industry looks promising due to various factors such as the increasing integration of advanced digital technologies such as artificial intelligence (AI) and the Internet of Things (IoT) in the monitoring and optimization of carbon capture and utilization (CCU) processes. These technologies enable real-time data analysis and predictive maintenance, enhancing the efficiency and cost-effectiveness of CO2 management systems. Additionally, the market is expected to witness a surge in collaborations between academia, industry, and government bodies to facilitate the development of next-generation CCU technologies.
According to Ravi Bhandari, Research Head, 6Wresearch, Hydrogen is expected to grow significantly in future attributed to the expanding hydrogen economy. As more countries invest in hydrogen as a clean energy carrier, South Korea is expected to ramp up its hydrogen production.
Based on application, the Food & Beverages sector is currently leading in the South Korea Carbon Dioxide Market. This dominance is largely due to the extensive use of carbon dioxide in various processes within the industry, including carbonation of soft drinks, preservation of food products, and utilization in packaging to extend shelf life.
The report offers a comprehensive study of the subsequent market segments
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 South Korea Carbon Dioxide Market Overview |
3.1 South Korea Country Macro Economic Indicators |
3.2 South Korea Carbon Dioxide Market Revenues & Volume, 2021 & 2031F |
3.3 South Korea Carbon Dioxide Market - Industry Life Cycle |
3.4 South Korea Carbon Dioxide Market - Porter's Five Forces |
3.5 South Korea Carbon Dioxide Market Revenues & Volume Share, By Source, 2021 & 2031F |
3.6 South Korea Carbon Dioxide Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 South Korea Carbon Dioxide Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 South Korea Carbon Dioxide Market Trends |
6 South Korea Carbon Dioxide Market, By Types |
6.1 South Korea Carbon Dioxide Market, By Source |
6.1.1 Overview and Analysis |
6.1.2 South Korea Carbon Dioxide Market Revenues & Volume, By Source, 2021 - 2031F |
6.1.3 South Korea Carbon Dioxide Market Revenues & Volume, By Hydrogen, 2021 - 2031F |
6.1.4 South Korea Carbon Dioxide Market Revenues & Volume, By Ethyl Alcohol, 2021 - 2031F |
6.1.5 South Korea Carbon Dioxide Market Revenues & Volume, By Ethylene Oxide, 2021 - 2031F |
6.1.6 South Korea Carbon Dioxide Market Revenues & Volume, By Substitute Natural Gas, 2021 - 2031F |
6.1.7 South Korea Carbon Dioxide Market Revenues & Volume, By Others, 2021 - 2031F |
6.2 South Korea Carbon Dioxide Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 South Korea Carbon Dioxide Market Revenues & Volume, By Food & Beverages, 2021 - 2031F |
6.2.3 South Korea Carbon Dioxide Market Revenues & Volume, By Oil & Gas, 2021 - 2031F |
6.2.4 South Korea Carbon Dioxide Market Revenues & Volume, By Medical, 2021 - 2031F |
6.2.5 South Korea Carbon Dioxide Market Revenues & Volume, By Rubber, 2021 - 2031F |
6.2.6 South Korea Carbon Dioxide Market Revenues & Volume, By Fire Fighting, 2021 - 2031F |
6.2.7 South Korea Carbon Dioxide Market Revenues & Volume, By Others, 2021 - 2031F |
7 South Korea Carbon Dioxide Market Import-Export Trade Statistics |
7.1 South Korea Carbon Dioxide Market Export to Major Countries |
7.2 South Korea Carbon Dioxide Market Imports from Major Countries |
8 South Korea Carbon Dioxide Market Key Performance Indicators |
9 South Korea Carbon Dioxide Market - Opportunity Assessment |
9.1 South Korea Carbon Dioxide Market Opportunity Assessment, By Source, 2021 & 2031F |
9.2 South Korea Carbon Dioxide Market Opportunity Assessment, By Application, 2021 & 2031F |
10 South Korea Carbon Dioxide Market - Competitive Landscape |
10.1 South Korea Carbon Dioxide Market Revenue Share, By Companies, 2024 |
10.2 South Korea Carbon Dioxide Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |