H1 2023: The key producers of Liquid Carbon Dioxide (CO2) in H1 2023 were Southern Petrochemical Industries Corporation Limited (SPIC), Messer Group GmbH, Linde Plc. Based on production capacity, Southern Petrochemical Industries Corporation Limited (SPIC) was in the leading position in H1 2023. During H1 2023, the price of liquid carbon dioxide varied in the Asia Pacific area. Prices in the Chinese market fell as a result of both the market disturbance caused by the Lunar holiday break and the impending economic uncertainties. The domestic production of the product in China remained subdued as the major companies attempted to resume regular operations and clear backlogs. But from April on, the price of liquid carbon dioxide began to rise across the Asia Pacific region. Additionally, the demand for bubbly carbonated beverages increased as a result of the rising temperatures, and the Asian market for liquid carbon dioxide saw tremendous growth. The three-month period of April – June 2023 saw no change in the (upstream) price of natural gas, which caused production costs to hike. Additionally, as a result of rising temperatures and a rise in demand for sugar-free Cokes, the Asian market for liquid carbon dioxide continued to experience strong demand for diet and carbonated beverages.
The Asia Pacific Liquid Carbon Dioxide (CO2) market stood at approximately 8.9 million tonnes in 2022 and is expected to grow at a CAGR of 5.30% during the forecast period until 2035.
For carbonated soft drinks, alcoholic beverages like beer, and water, liquid CO2 is largely employed in the food and beverage sector. Additionally, it acts as a preservative in food packaging. The principal use of CO2 is to carbonate soft drinks, water, and alcoholic drinks like beer. Breweries commonly add liquid CO2 to the CO2 produced during fermentation. Baby food, meats, fresh meals, and baked items all have their shelf lives extended by CO2.Additionally, CO2 is used to transport fresh food in the forms of dry ice and snow. For many medical operations, including minimally invasive surgery, carbon dioxide is employed as a blowing gas. The chemical is mostly utilised as an acidifier for treating water.
Liquid carbon dioxide is useful for a variety of industries, including food and beverage, chemicals, agriculture, healthcare, wastewater treatment, and others due to its low viscosity, high density, and low cost. In the foods and beverages sectors, liquefied carbon dioxide is used as a cooling agent. The refrigeration, preservation, storage, and softening of food products are all major uses for this liquid carbon dioxide in the food sector. Additionally, compressed carbon dioxide is used in its production to soften and preserve soft drinks. The growing population in the Asian nations is likely to propel the demand for food & beverages and have a positive effect on the Asia Pacific Liquid Carbon Dioxide market in the forecast period. Due to its anti-flammable qualities, liquefied carbon dioxide is employed in fire extinguishers which also contributes to the liquid carbon dioxide market. The Asia Pacific Liquid Carbon Dioxide market is anticipated to reach approximately 16.6 million tonnes by 2035.
Asia Pacific region is dominating the Liquid Carbon Dioxide. This region accounted 60% of the Asia Pacific Liquid Carbon Dioxide market in 2022. Based on regional demand, the liquid carbon dioxide market in the Asia Pacific region is divided India, Japan, Malaysia, Indonesia, China, and Thailand. The need for liquid carbon dioxide is predicted to increase in these nations due to the increased demand for food and drinks as well as water treatment. Geographically, Asia Pacific is where the majority of liquid CO2 is produced, with China and India leading the way.
Based on the end-user industry, the Liquid Carbon Dioxide market is segmented into sectors such as Chemicals & Petrochemicals, Food & Beverages, Healthcare, Fire Extinguisher, and Others. Among these, the food and beverages sector is in the lead, with a volume share of roughly 30% in 2022. Also, Chemicals & Petrochemicals and Healthcare is also a significant user of the Liquid Carbon Dioxide market.
Significant players in the Asia Pacific Liquid Carbon Dioxide market are Southern Petrochemical Industries Corporation Limited (SPIC), Messer Group GmbH, Linde Plc, Anhui Liuguo Chemical Corporation Co. Ltd, Ningxia Deda Gas Technology Develop, Punjab Carbonic private Limited, SICGIL India Limited, India Glycols Limited, Bathinda industrial Gases Pvt. Ltd. (BIGPL), Prime Gases, and Jubilant lifesciences limited.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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The objective of the Study:
•To assess the demand-supply scenario of Liquid Carbon Dioxide, which covers the production, demand, and supply of Liquid Carbon Dioxide around the globe.
•To analyze and forecast the market size of Liquid Carbon Dioxide.
•To classify and forecast the Asia Pacific Liquid Carbon Dioxide market based on end-use and regional distribution.
•To examine Asia Pacific competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Liquid Carbon Dioxide market.
To extract data for the Asia Pacific Liquid Carbon Dioxide market, primary research surveys were conducted with Liquid Carbon Dioxide manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Asia Pacific Liquid Carbon Dioxide market over the coming years.
ChemAnalyst calculated Liquid Carbon Dioxide demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Liquid Carbon Dioxide across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Liquid Carbon Dioxide manufacturers and other stakeholders
• Organizations, forums and alliances related to Liquid Carbon Dioxide distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Liquid Carbon Dioxide manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Asia Pacific Liquid Carbon Dioxide market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
8.9 million tonnes
Market size Volume by 2035
16.6 million tonnes
Growth Rate
CAGR of 5.30% from 2022 to 2035
Base year for estimation
2022
Historic Data
2015 – 2022
Forecast period
2023 – 2035
Quantitative units
Demand in million tonnes and CAGR from 2022 to 2035
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Chemicals & Petrochemicals, Food & Beverages, Healthcare, Fire Extinguisher, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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What was the Asia Pacific market size of Liquid Carbon Dioxide in terms of volume for 2022?
Ans:
The Asia Pacific market size of Liquid Carbon Dioxide was approximately 8.9 million tonnes in 2022, and it is expected to soar with a CAGR of 5.30% in the forecast period.
Q2.
What are the major end-use industries of Liquid Carbon Dioxide?
Ans:
Liquid Carbon Dioxide is used in a wide range of end use industries Chemicals & Petrochemicals, Food & Beverages, Healthcare, Fire Extinguisher, and Others.
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