- Carbon dioxide (CO₂) is a colorless, odorless gas that is naturally present in Earth's atmosphere and is used in various industries for different applications. It is produced through natural processes such as respiration and combustion, as well as industrial processes such as the production of hydrogen, ethyl alcohol, and ethylene oxide
- The carbon dioxide market is witnessing growth due to its wide-ranging applications across industries such as food and beverage, healthcare, and oil and gas
- For instance, Coca-Cola and Pepsi use carbon dioxide for carbonation in their soft drinks, while it also helps preserve packaged food items such as meats and vegetables
- In the healthcare sector, carbon dioxide is essential for medical procedures such as laparoscopic surgeries. During these operations, carbon dioxide is used to inflate the abdomen, providing a clearer view for surgeons. It also plays a role in respiratory treatments for patients with conditions such as chronic obstructive pulmonary disease
- The oil and gas industry continues to rely on carbon dioxide for enhanced oil recovery.
- For instance, The Sleipner project in Norway, where carbon dioxide is injected into depleted oil fields to increase production and reduce carbon emissions
- Industrial uses of carbon dioxide are also growing, especially in applications such as welding and chemical production. In the automotive industry, carbon dioxide is used in precision MIG/MAG welding, and in the chemical sector, it serves as a raw material for creating urea in fertilizers
- The market is also benefiting from the rise of carbon capture technologies, where carbon dioxide is captured from industrial emissions
- For instance, projects such as Carbon Clean Solutions in India capture carbon dioxide and convert it into green chemicals for use in various industries
