Report: CCS likely to see greater acceptance in Europe

Jun 27 2022


“Manufacturers investing in cost-effective systems to transport carbon dioxide to drive down prices is likely to be the main focus in the European market,” says a Fact.MR analyst.

The Europe carbon dioxide market is estimated at US$ 383.6 million in 2022 and is forecasted to rise at 7.2% CAGR during the 2022-2032 forecast years, according to detailed industry analysis by Fact.MR, a market research and competitive intelligence provider. The European market is witnessing rising demand for carbon dioxide for use in several applications in the healthcare and medical sector.

Research projects are being undertaken to develop and explore new technologies and innovations to directly capture carbon emissions from the air.

Key Takeaways from Market Study

  • The European carbon dioxide market is expected to surpass US$ 772.4 million by 2032, rising at the rate of 7.2%.
  • The registered a historic CAGR of 5.1% during 2017-2021.
  • The combustion production method holds 51.2% share in the European market.
  • Centralized delivery mode is predicted to rise at 11.5% CAGR over the assessment period of 2022-2032.
  • The food & beverage industry is the end-use leader in this market and holds 49.5% market share.
  • Germany leads the European market with 26.1% share and is projected to rise at 8.6% CAGR during the forecast years.
  • Together, Russia and Germany are likely to represent 45.7% of the European market share in 2022.
     

Key carbon dioxide manufacturers in Europe are increasing their investments in R&D to introduce novel technologies to capture carbon dioxide.

Not only this, they are also resorting to organic and inorganic growth strategies along with acquisitions and collaborative activities to expand their operations, achieve efficiency, and maintain their market stance.

Prominent manufacturers of carbon dioxide in Europe are investing in the research and development of better technologies to augment product output.

For instance :

  • Air Liquide entered into a joint venture with Gippsland Basin in 2021. The joint venture is between Esso Australia Resources Pty Ltd. and BHP Petroleum Pty Ltd. to construct a new facility delivering CO2 to industries in Australia.
  • Messer Group GmbH acquired Linde AG’s gas business in North America in 2019, along with the business activities of Praxair in South America.

Fact.MR said it has provided detailed information about the price points of key manufacturers of carbon dioxide market positioned across Europe, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Fact.MR report


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Issue 87 - May - June 2022

CCUS in EMEA: EU awards over €1bn .. Mix of all low carbon tech could save EU €80bn .. 1000km CO2 transport network in Germany .. TotalEnergies’ "3D" Carbon Capture Pilot begins Carbon removals needed to limit global warming to 1.5°C .. CCSA: UK nee.....