Liquefied CO2 is also referred to as a cryogenic liquid which is colourless, odourless and non-flammable liquid. Liquefied CO2 transforms into a crystalline structure when it is discharged from its container. Liquefied CO2 is inert and stable under atmospheric conditions and is slightly acidic in nature.
Liquefied CO2 is extracted from various types of sources such as hydrogen plants and ammonia in its purified and liquefied form. Large scale industries such as power cement and steel plant produce CO2 as a by-product that goes under pressure in order to produce liquefied CO2 for a wide variety of application in different sectors such as food, health care among others.
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liquefied CO2 Market Segmented By Sources such as Hydrogen, Ethyl Alcohol, Ammonia, Natural gas, Others
Global Liquefied CO2 Market: Dynamics
Increasing industrialization with an enormous share in R&D for innovative technologies in enhanced oil recovery (EOR) and carbon capture & storage (CCS) has led to an upsurge in the demand for liquefied CO2. EOR technology used in extracting a large number of resources from oil and gas reservoirs.
While CCS technology is utilized for capturing and storing liquefied CO2 which is later utilized for a wide variety of industrial purposes such as replacement of Chlorofluorocarbon (CFC) in foamed plastic production. Moreover, increasing juice and beverage industries due to the surging demand of various flavoured carbonated drinks among consumer also boosting the demand of liquefied CO2 as it offers flavour enhancement, product stability, flavour, texture impression and freshness perception in food & beverages products.
Furthermore, the growing agriculture industry due to increasing population also fueling the demand of liquefied CO2 as it is widely used for pest control in grains. The other notable applications of liquefied CO2 is wastewater treatment due to increasing concern about the environment, which is also driving the market of liquefied CO2.
Various government regulation such as Central Pollution Control Board (CPCB), Environmental Protection Agency (EPA), Food and Drug Administration (FDA) have the limited the harmful emission of carbon dioxide when produced as a byproduct, which is helpful in creating less harmful impact on the environment which act as restraint for the liquefied CO2 market
The global liquefied CO2 Market is considered to be a highly concentrated market with the presence of raw material provider, manufacturer and end-use industries having established their presence in particular or multi-regional markets.
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Liquefied CO2 Market: Key Participants
Some of the key market participants in the market of Liquefied CO2 are as follows:-
- Universal Industrial Gases, Inc.
- Philippine CO2 Industry Inc.
- Yara International ASA
- INOX Air Products Ltd.
- Continental Carbonic Products, Inc.
- Cosmo Engineering Co. Ltd.
- Air Products and Chemical, Inc.,
- Praxair, Inc.,
- Air Liquide
- Linde AG
- Showa Denko Gas Products Co., Ltd.
The report covers exhaustive analysis on:
- Liquefied CO2 Market Segments
- Liquefied CO2 Market Dynamics
- Liquefied CO2 Market Size
- Liquefied CO2 Supply & Demand Scenario
- Current Trends/Issues/Challenges in Liquefied CO2 market
- Competition & Companies involved in Liquefied CO2 market
- Technology used in Liquefied CO2 Market
- Value Chain of Liquefied CO2 Market
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