H1 2023: The prominent players in the North America Liquid Carbon Dioxide market in H1 2023 were Air Liquide Industrial US LP, The Linde Group, and Praxair, Inc. Liquid Carbon Dioxide prices increased during the first quarter of 2023 due to a rising demand outlook from end-users, particularly in the food and beverage sector. The supply deficit among carbonated beverage manufacturing units led to continued supply shortages for US suppliers. The higher demand in the country was a result of manufacturers raising their prices in response to the supply deficit, with food and beverage contributing to the price hikes. Operational activities were sluggish in the USA, impacted by factors such as the threat of economic recession and the US bank crisis. In the North American market, Liquid Carbon Dioxide prices remained elevated in Q2 2023 due to increased demand for carbonated drinks and diet sodas. The demand for diet sodas and carbonated drinks remained high in the American market, driven by hotter temperatures encouraging consumers to place higher orders. Conversely, efficiency and business expanded as operations extended their capacity to meet existing work surpluses under improved stockpile conditions. Packaged beverages and bundled food items showed a positive demand outlook, along with a moderate operational pace for the product. The overall market dynamics of liquid carbon dioxide were influenced by an enhanced supply chain in the US and decreased input costs.
The North America Liquid Carbon Dioxide market reached around 2400 thousand tonnes in 2022 and is expected to grow at a healthy CAGR of 3.88% till the year 2035. Liquid carbon dioxide (CO2) finds diverse applications across various industries due to its distinctive properties. In the beverage industry, liquid CO2 is a key component for carbonating soft drinks and sparkling water, creating the effervescence desired by consumers. Its role extends to food processing, where it is utilized for freezing and cooling, preserving perishable items, and producing frozen foods. Medical applications include cryotherapy for removing unwanted tissues, and in certain medical imaging techniques. Liquid CO2 serves as an extinguishing agent in fire extinguishers, rapidly expanding into gas to displace oxygen and suppress fires.
Industrial cleaning benefits from liquid CO2 in processes like dry ice blasting, ensuring efficient and residue-free surface cleaning. Water treatment applications involve adjusting pH levels and alkalinity, aiding in water softening. Biomedical uses encompass cryopreservation for storing biological samples at extremely low temperatures. Additionally, liquid CO2 plays a role in refrigeration systems, acting as a secondary refrigerant in cascade refrigeration and transport refrigeration. Its versatility underscores its significance in processes ranging from healthcare and food production to industrial cleaning and beyond. By 2035, the North America Liquid Carbon Dioxide market is likely to reach 4000 thousand tonnes.
On the basis of region, North America Liquid Carbon Dioxide market is segmented into USA, Mexico, and Canada. Among these, USA is the leading consumer of Liquid Carbon Dioxide. In 2022, USA consumed roughly 54% of the North America Liquid Carbon Dioxide market. Also, Canada will most likely experience a rise of Liquid Carbon Dioxide in the coming years due to the continued demand from the downstream food & beverage sectors.
Based on the end-user industry, the North America Liquid Carbon Dioxide market is segmented into Chemicals & Petrochemicals, Food & Beverages, Healthcare, Fire Extinguisher, and Others. However, Food & Beverages is the dominating sector as the consumer of Liquid Carbon Dioxide. This industry consumed approximately 42% of the market in 2022 and is anticipated to remain the leading consumer in the upcoming years.
Major players in the production of North America Liquid Carbon Dioxide are Air Liquide Industrial US LP, The Linde Group, Praxair, Inc., Atkinson Green Plains, Universal Industrial Gases, Inc., Aemetis Inc., Dakota Gasification Company, Enid Fertiliser, KeySpan and Ferus, Praxair Canada Inc., ConocoPhillips Canada, Ferus, Ferus And Burlington, Alpek and ContourGlobal, CO2 Liquid, S.A, and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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Objective of the Study:
• To assess the demand-supply scenario of Liquid Carbon Dioxide which covers production, demand and supply of Liquid Carbon Dioxide market in North America.
• To analyse and forecast the market size of Liquid Carbon Dioxide
• To classify and forecast North America Liquid Carbon Dioxide market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Liquid Carbon Dioxide market in North America.
To extract data for North America 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 North America 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 consumption of raw material to produce Liquid Carbon Dioxides. 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 Dioxides 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.
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.
Report Scope:
In this report, North America 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
2400 thousand tonnes
Market size Volume by 2035
4000 thousand tonnes
Growth Rate
CAGR of 3.88% from 2023 to 2035
Base Year
2022
Estimated Year
2023
Historical Data
2015 – 2021
Forecast period
2024 – 2035
Quantitative units
Demand in thousand tonnes and CAGR from 2023 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, Manufacturing Process.
Segments covered
By End-Use: (Chemicals & Petrochemicals, Food & Beverages, Healthcare, Fire Extinguisher, and Others)
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was North America market size of Liquid Carbon Dioxide in terms of volume for 2022?
Ans:
The North America market size of Liquid Carbon Dioxide was approximately 2400 thousand tonnes in 2022.
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 including Chemicals & Petrochemicals, Food & Beverages, Healthcare, Fire Extinguisher, and Others.
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