United Kingdom Carbon Dioxide Market Report 2023: Rising Demand for Carbon Dioxide in Various Industries Drives Growth

DUBLIN, May 8, 2023 /PRNewswire/ -- The "United Kingdom Carbon Dioxide Market Report and Forecast 2023-2028" report has been added to  ResearchAndMarkets.com's offering.

The United Kingdom carbon dioxide market attained a volume of 744.73 KMT in 2022. Aided by the rising demand for carbon dioxide in various industries such as food and beverage, healthcare, and oil and gas, the market is expected to grow at a CAGR of 25.9% between 2023 and 2028 to reach a volume of 815.28 KMT by 2028.

Carbon dioxide (CO2) is a naturally occurring greenhouse gas that is used in various industrial applications due to its unique properties, such as its ability to create a controlled atmosphere, its inertness, and cooling capabilities. The carbon dioxide market in the United Kingdom is primarily driven by the increasing demand for CO2 in the food and beverage industry, where it is used for carbonation, packaging, and preservation of various food products and beverages.

The healthcare sector is one of the significant contributors in the United Kingdom carbon dioxide market expansion. In the medical field, CO2 is used for respiratory therapies, cryotherapy, and minimally invasive surgeries, such as laparoscopy and endoscopy. The increasing demand for advanced medical treatments and the growing geriatric population in the United Kingdom are expected to drive the demand for carbon dioxide in the healthcare sector during the forecast period.

The oil and gas industry in the country also contributes to the growth of the United Kingdom carbon dioxide market. CO2 is used in enhanced oil recovery (EOR) processes, which involve the injection of CO2 into oil reservoirs to improve oil extraction efficiency. As the country continues to invest in oil and gas exploration and production activities, the demand for carbon dioxide for EOR is expected to increase, driving the growth of the market.

Additionally, in the upcoming years, the United Kingdom government's commitment to promoting research and development in carbon capture and storage (CCS) technologies, which involve capturing CO2 emissions from industrial processes and burying them underground, is anticipated to open up new opportunities for the United Kingdom carbon dioxide market expansion.

Moreover, research on carbon capture and utilization (CCU) technologies, which involve capturing CO2 emissions from industrial processes and converting them into useful products such as chemicals, fuels, and building materials, is anticipated to present new growth opportunities for the United Kingdom carbon dioxide market expansion. The government's commitment to investing in CCU technologies is expected to support market expansion in the coming years.

Market Segmentation

The market can be divided based on source, production, and end use.

Market Breakup by Source

• Hydrogen
• Ethyl Alcohol
• Ethylene Oxide
• Substitute Natural Gas
• Others

Market Breakup by Production

• Biological
• Combustion

Market Breakup by End Use

• Food and Beverages
• Oil and Gas
• Medical
• Rubber
• Metal Fabrication
• Others

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the United Kingdom carbon dioxide companies. Some of the major key players explored in the report are as follows:

• Air Products PLC
• BOC Limited (Linde)
• Air Liquide UK Ltd
• Nippon Gases
• Pro Gases (UK) Ltd

For more information about this report visit https://www.researchandmarkets.com/r/g55t8f

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SOURCE Research and Markets