COVID-19 Impact Affects Carbon Dioxide Market Globally in 2020

September 16, 2020
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The global carbon dioxide market share and size is predicted to reach USD 12.15 Billion by 2027, exhibiting a CAGR of 2.5% during the forecast period. The growing construction of water treatment plants in developing nations will spur the demand of the market in the forthcoming years.

Advancement in Carbon Attainment Methods to Aid Expansion in North America

The market in Asia Pacific stood at USD 3.62 Billion in 2019 and is likely to witness a high growth rate during the forecast period owing to the demand from the food and beverage and medical industry in the developing nations. For instance, China is one of the biggest suppliers of carbon dioxide around the world. The developing medical industry in India will promote the growth of the market in the region. The market in North America is predicted to rise tremendously during the forecast period due to the high demand for CO2in oil recovery applications.

The increasing initiatives for the use of carbon dioxide in various industrial applications will enable speedy growth of the market in the region. Moreover, the technological advancement in CO2extraction methods will aid growth in North America. The market in Europe is likely to account for a significant share in the forthcoming years. The growth in the region is attributed to the use of carbon dioxide in alcoholic and non-alcoholic beverages in the food and beverage industry. Therefore, the demand for carbonated beverages will propel the market in the region. The market in Latin America and the Middle East and Africa is predicted to grow rapidly during the forecast period owing to the rising oil and gas exploration activities. The rising consumption of carbon dioxide in oil recovery activities to boost the market in the Middle East and Africa.

The rising oil exploration and drilling activities will necessitate the use of solvents in the process, which, in turn, will boost the carbon dioxide market growth during the forecast period, states Fortune Business Insights in a report, titled “Carbon Dioxide Market Size, Share and Industry Analysis, By End-Use Industry (Food and Beverage, Oil and Gas, Metal Fabrication, Medical, and Others), and Regional Forecast, 2020-2027the market size stood at USD 10.00 Billion in 2019

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

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Gain More Insights into the Carbon Dioxide Market Research Report

https://www.fortunebusinessinsights.com/carbon-dioxide-market-102866

 

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