Liquefied CO₂ Market Poised for Robust Growth, Expected to Reach US$ 7.2 Billion by 2033 - Persistence Market Research
Liquefied CO₂ Market
North America leads liquefied CO2 market with 35% share, while Asia Pacific is expected to be the fastest-growing market, registering around 6.8% CAGR by 2033
LONDON, LONDON, UNITED KINGDOM, February 23, 2026 /EINPresswire.com/ -- The global Liquefied CO₂ Market is poised for steady expansion over the next decade, underpinned by growing industrial utilization and sustainability-focused innovations. According to the latest study by Persistence Market Research, the global liquefied CO₂ market size is likely to be valued at US$ 5.1 billion in 2026, and is projected to reach US$ 7.2 billion by 2033, growing at a CAGR of 5% during the forecast period of 2026–2033. This expansion is driven by consistent demand from key sectors such as food and beverage carbonation, chemical processing, and healthcare applications.
Liquefied carbon dioxide (CO₂), produced by compressing and cooling gaseous CO₂, has become a critical industrial commodity due to its versatility, non-flammability, and cost-efficiency. Industries are increasingly recognizing its value in refrigeration, packaging, fire suppression, enhanced oil recovery, and precision cleaning, among other uses. As environmental regulations encourage carbon capture and utilization (CCU), the liquefied CO₂ market is witnessing renewed strategic importance across developed and emerging economies alike.
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Rising Demand from Food & Beverage Industry
One of the primary growth engines for the liquefied CO₂ market is the expanding food and beverage sector. Carbon dioxide is widely used for beverage carbonation, modified atmosphere packaging (MAP), and refrigeration during transportation. As consumer demand for carbonated drinks, packaged foods, and ready-to-eat meals rises globally, manufacturers are increasing their reliance on food-grade liquefied CO₂. Additionally, breweries and soft drink manufacturers are investing in on-site CO₂ recovery systems to enhance sustainability and reduce operational costs.
Growing Applications in Healthcare and Medical Sector
The healthcare sector represents another significant growth avenue. Liquefied CO₂ is used in minimally invasive surgical procedures, cryotherapy, and respiratory treatments. It also plays a role in sterilization processes and medical research. The expanding healthcare infrastructure in emerging markets, coupled with increasing surgical volumes and demand for advanced medical procedures, is fueling market expansion.
Expanding Chemical Processing and Industrial Uses
In chemical processing, liquefied CO₂ is utilized as a solvent, cooling agent, and raw material in various production cycles. It supports environmentally friendly manufacturing processes and helps maintain precise temperature controls. Industrial applications, including welding, metal fabrication, and fire suppression systems, are also contributing to the steady demand trajectory.
Carbon Capture and Sustainability Initiatives
The increasing global emphasis on carbon capture, utilization, and storage (CCUS) technologies is positively influencing the liquefied CO₂ market. Industries are capturing CO₂ emissions from ammonia, hydrogen, and ethanol plants and converting them into commercially viable liquefied CO₂ products. This approach not only reduces greenhouse gas emissions but also creates additional revenue streams for manufacturers. Governments and regulatory bodies worldwide are promoting CCUS initiatives, thereby supporting market growth.
Technological Advancements in Storage and Transportation
Innovations in cryogenic storage tanks, insulated cylinders, and transportation infrastructure are enhancing the safety and efficiency of liquefied CO₂ handling. Advanced logistics networks are enabling seamless cross-border trade and supply chain integration. These technological improvements are particularly crucial for regions with limited domestic CO₂ production capacity.
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Growth in Electronics and Semiconductor Manufacturing
The electronics industry is emerging as a notable consumer of liquefied CO₂, especially for precision cleaning and semiconductor manufacturing processes. With increasing investments in semiconductor fabrication plants across East Asia, North America, and Europe, the demand for high-purity CO₂ is witnessing an uptick. As digital transformation accelerates globally, this application segment is expected to generate new growth opportunities.
Agricultural and Wastewater Treatment Applications
In agriculture, liquefied CO₂ is used to enhance plant growth in greenhouse environments and to control pests. Meanwhile, in wastewater treatment facilities, it helps regulate pH levels and improve treatment efficiency. These niche yet expanding applications are broadening the market’s scope and contributing to overall revenue generation.
Market Segmentation
By Source
• Ammonia
• Hydrogen
• Ethyl Alcohol
• Natural Gas
• Others
By Application
• Food & Beverages
• Chemicals
• Electronics
• Agriculture
• Healthcare
• Wastewater Treatment
By Region
• North America
• Europe
• East Asia
• South Asia & Oceania
• Latin America
• Middle East & Africa
In terms of regional outlook, North America and Europe maintain strong positions owing to established industrial infrastructure and stringent environmental regulations promoting CO₂ capture. East Asia is witnessing rapid growth driven by expanding manufacturing activities and electronics production. Meanwhile, South Asia & Oceania, Latin America, and the Middle East & Africa are emerging as promising markets due to increasing industrialization and food processing activities.
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Company Insights
The global liquefied CO₂ market is moderately consolidated, with key players focusing on strategic partnerships, capacity expansions, and sustainability-driven innovations to strengthen their competitive positions. Major companies operating in the market include:
✦ Linde plc
✦ Air Liquide S.A.
✦ Air Products and Chemicals, Inc.
✦ Messer Group
✦ Taiyo Nippon Sanso
✦ SOL Group
✦ Matheson Tri-Gas
✦ Gulf Cryo
✦ Ellenbarrie Industrial Gases
✦ Buzwair Industrial Gases
✦ Yingde Gases
✦ Air Water Inc.
Outlook
The liquefied CO₂ market is set to witness stable and sustained growth through 2033, supported by its indispensable role across multiple industries. As global economies prioritize decarbonization and circular carbon solutions, liquefied CO₂ will continue to gain prominence as both an industrial input and a sustainability enabler. With a projected valuation of US$ 7.2 billion by 2033 and a steady CAGR of 5%, the market presents lucrative opportunities for stakeholders across the value chain, from producers and distributors to end-use industries.
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Persistence Market Research delivers strategic research solutions that drive business growth. Founded in 2012 and registered in England and Wales in 2023 as Persistence Research & Consultancy Services Ltd., we have completed 3,600+ custom and syndicated studies and supported 2,700+ projects for leading research firms. Combining traditional methodologies with modern tools, we provide actionable insights to multinational corporations, consultants, investors, and government bodies, earning strong trust through long-term client relationships.
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