The liquefied CO2 market is also referred to as cryogenic liquid, which is a colorless, odorless and non-flammable liquid. Liquefied CO2 becomes a crystalline structure when it is poured from its container. Liquefied CO2 is inert and stable under atmospheric conditions and is slightly acidic in nature.
Liquefied CO2 comes from various sources, such as hydrogen plants and ammonia in its purified and liquefied form. Large-scale industries such as power cement and steel mills produce CO2 as a by-product which is pressurized to produce liquefied CO2 for various applications in various sectors such as food, health, etc.
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Global Liquefied CO2 Market: Dynamics
Increasing industrialization has accounted for a huge share of R&D in innovative oil recovery (EOR) and carbon capture and storage (CCS) technologies, leading to a surge in demand for liquefied CO2. EOR technology used to extract large amounts of resources from oil and gas reservoirs.
While CCS technology is used to capture and store liquefied CO2, which is then used for a variety of industrial purposes, such as replacing Chlorofluorocarbon (CFC) foam in plastic production. Additionally, the juice and beverage industries are growing due to the increasing demand for flavored carbonated beverages among consumers, which also increases the demand for liquefied CO2, which provides flavor, product stability, taste, texture impression, and freshness perception to food and beverage products.
Additionally, the growing population coupled with the growing agricultural industry is also fueling the demand for liquefied CO2, which is widely used for pest control in cereals. Another prominent application of liquefied CO2 is waste water treatment due to growing environmental concern, which is also driving the liquefied CO2 market.
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Some of the major market players in the Liquefied CO2 market are:-
• Universal Industrial Gases, Inc.
• CO2 Industry Inc. of the Philippines.
• Yara International ASA
• INOX 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.
Global Liquefied CO2 Market: Regional Outlook
Growth in enhanced oil recovery (EOR) technology in North America and the Middle East and Africa region is expected to drive the growth of the liquefied CO2 industry in the coming period. North America has dramatically dominated the liquefied CO2 market in recent years and is likely to continue to dominate in the coming years.
These regions will drive the liquefied CO2 market during the forecast period due to the development of industrialization and huge consumption of CO2 in various end-use industries. The Middle East and Africa is believed to be the fastest growing market in the coming years due to increased spending in the oil and gas industries.
A region like Asia Pacific is expected to have a decent level of growth during the period. The region is expected to increase demand for liquefied CO2 from the chemical and beverage industries, especially from developing economies such as India, China etc.
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Contents of this report:
• Liquefied CO2 market overview and analysis [ Market Size | Market Y-o-Y Growth | Market Dynamics]
• Liquefied CO2 market overview and analysis [ Supply Chain | Cost Structure | Pricing Analysis | Raw Material Sourcing Strategy and Analysis | List of Distributors]
• Global Liquefied CO2 Market Analysis and Forecast by Product Type
• Global Liquefied CO2 Market Analysis and Forecast by Application Type
• Liquefied CO2 market analysis and forecast by region [ Europe | North America | APAC | Middle East and Africa]
• Global Liquefied CO2 Market Company Share, Competitive Landscape and Company Profiles
• Research Methodology
• Secondary and Primary sources
• Hypotheses and acronyms
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