Carbon Dioxide Global Market Report 2026

Carbon dioxide is a colorless chemical element generated through both fermentation and combustion processes. Widely utilized in the food industry, it plays a key role in applications such as decaffeinating coffee and carbonating beverages. Additionally, it serves as a cooling agent in the food and manufacturing sectors.

The primary product types of carbon dioxide include liquid carbon dioxide, solid carbon dioxide, and gaseous carbon dioxide. Liquid carbon dioxide is formed by compressing and cooling carbon dioxide gas to a liquid state, with specific temperature thresholds. Sources of carbon dioxide include hydrogen, ethyl alcohol, ethylene oxide, substituted natural gas, and others. Applications span across various industries, including food and beverages, oil & gas, medical, rubber, firefighting, and others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are affecting the carbon dioxide market by increasing costs of imported gas handling equipment, liquefaction systems, storage tanks, and transportation infrastructure. Food and beverage producers in North America and Europe are most impacted due to reliance on specialized equipment imports, while Asia-Pacific faces cost pressure on export-oriented gas supply chains. These tariffs are raising operational costs and influencing pricing contracts. However, they are also promoting local co2 recovery, on-site production systems, and investments in circular carbon utilization.

The carbon dioxide market research report is one of a series of new reports from The Business Research Company that provides carbon dioxide market statistics, including carbon dioxide industry global market size, regional shares, competitors with a carbon dioxide market share, detailed carbon dioxide market segments, market trends and opportunities, and any further data you may need to thrive in the carbon dioxide industry. This carbon dioxide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The carbon dioxide market size has grown strongly in recent years. It will grow from $10.52 billion in 2025 to $11.43 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to expansion of beverage manufacturing, growth of food preservation industries, rising use in welding and metal fabrication, availability of fermentation-based co2 sources, industrial gas infrastructure development.

The carbon dioxide market size is expected to see strong growth in the next few years. It will grow to $16.61 billion in 2030 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to increasing focus on carbon capture utilization, rising demand for medical-grade co2, expansion of sustainable refrigeration solutions, growing greenhouse agriculture adoption, increasing investments in co2 recovery technologies. Major trends in the forecast period include increasing demand for food and beverage carbonation, rising use of co2 in cold chain logistics, growing adoption in medical and pharmaceutical applications, expansion of greenhouse enrichment practices, enhanced recovery and reuse of industrial co2.

The growing demand for firefighting is expected to propel the growth of the carbon dioxide market going forward. Firefighting involves extinguishing fires and managing fire-related emergencies, with the primary objectives of protecting life, property, and the environment. Carbon dioxide is widely used as a firefighting agent in specialized fire suppression systems by displacing oxygen and eliminating one of the elements required for combustion, thereby reducing the risk of fire incidents and limiting damage. For instance, in April 2025, according to official statistics from a UK-based government agency, the total number of incidents attended by fire & rescue services (FRSs) in 2024 was 600,185, up 1.2% from 593,285 in the previous year. Therefore, the growing demand for firefighting is driving the growth of the carbon dioxide market.

Major companies operating in the industrial carbon dioxide market are focusing on technological advancements such as metal-organic frameworks to improve CO2 capture efficiency, storage capacity, and overall sustainability in industrial applications. Metal-organic frameworks (MOFs) are highly porous structures made of metal nodes and organic linkers, enabling efficient gas adsorption and storage. For instance, in March 2025, Saudi Aramco, a Saudi Arabia-based energy company, launched the country's first Direct Air Capture (DAC) test unit for CO2. The pilot unit aims to capture carbon dioxide directly from the atmosphere, evaluate the scalability of DAC technology in the region, and explore integration with carbon utilization and storage solutions, supporting Saudi Arabia's long-term climate and carbon management objectives.

In May 2024, Zero Carbon System Inc., a US-based company that specializes in global low carbon building design and low carbon urban planning solutions, acquired Global Thermostat for an undisclosed amount. With this acquisition, Zero Carbon System Inc. aims to significantly advance its carbon capture capabilities and establish itself as a leader in the direct air capture (DAC) industry. Global Thermostat is a US-based technology company that specializes in removing carbon dioxide from the air to help address climate change.

Major companies operating in the carbon dioxide market are Linde PLC, Air Products and Chemicals, Inc., Air Liquide, The Messer Group GmbH, Nippon Sanso Holdings Corporation, Air Water Inc., Gulf Cryo, SOL SpA, Reliant Gases, India Glycols Limited, Praxair Inc., Taiyo Nippon Sanso, Oxair, Yingde Gas Group Co., Ltd., Core Industrial Gases, Supagas, AMCS Corporation, Gagan Gases Ltd, Refex Industries, BOC UK, Altex, Continental Carbonic Products, Inc., Matheson Tri-Gas, Messer Gases del Peru S.A., Buzwair, Sasol, Gas Africa Limited, Carbacid Investments Limited, Afrox

Asia-Pacific was the largest region in the carbon dioxide market in 2025. North America was the second-largest region in the global carbon dioxide market. The regions covered in the carbon dioxide market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the carbon dioxide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The carbon dioxide market consists of the sales of carbon dioxide gas and carbon dioxide liquid used to carbonate drinks and as a refrigerant. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Carbon Dioxide Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses carbon dioxide market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for carbon dioxide ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The carbon dioxide market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Product Type: Liquid Carbon Dioxide; Solid Carbon Dioxide; Gaseous Carbon Dioxide
• 2) By Grade Type: Medical Grade; Food Grade; Industrial Grade; Other Grade
• 3) By Application: Food And Beverages; Oil And Gas; Medical; Rubber; Fire Fighting; Chemicals; Metal Products; Other Applications
• Subsegments:
• 1) By Liquid Carbon Dioxide: Food and Beverage Grade Liquid CO2; Industrial Grade Liquid CO2; Pharmaceutical Grade Liquid CO2
• 2) By Solid Carbon Dioxide (Dry Ice): Food Packaging And Preservation; Refrigeration And Shipping; Blast Cleaning Applications
• 3) By Gaseous Carbon Dioxide: Industrial Applications (Welding; Metal Fabrication); Beverage Carbonation; Greenhouse Enrichment; Chemical Production
• Companies Mentioned: Linde PLC; Air Products and Chemicals, Inc.; Air Liquide; The Messer Group GmbH; Nippon Sanso Holdings Corporation; Air Water Inc.; Gulf Cryo; SOL SpA; Reliant Gases; India Glycols Limited; Praxair Inc.; Taiyo Nippon Sanso; Oxair; Yingde Gas Group Co., Ltd.; Core Industrial Gases; Supagas; AMCS Corporation; Gagan Gases Ltd; Refex Industries; BOC UK; Altex; Continental Carbonic Products, Inc.; Matheson Tri-Gas; Messer Gases del Peru S.A.; Buzwair; Sasol; Gas Africa Limited; Carbacid Investments Limited; Afrox
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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