With today’s global merchant carbon dioxide (CO2) market estimated to be over 20 million tonnes of annual consumption, the US still leads the way, with estimated usage over 40% of this grand total. Then, markets including Japan and Europe tend to follow in market size.
Market growth generally follows general economic trends, therefore slow but steady growth is found for the commodity in the developed world markets, and often, more rapid growth is common in many of the developing economies.
What have been called the BRICS countries in the past have, in some cases, suffered economic slowing, in part due to the current worldwide oil glut and a range of other factors. Low oil prices will further impact specific large applications such as EOR (enhanced oil recovery). Further on the subject of trends, beverage applications for CO2 carbonation are less of a growth market in the developed world, due to more consumption of filtered and spring water, sports drinks, and naturally carbonated water products. In the developing world markets, there is often the opinion that growth of soft drink and beverage markets will continue to maintain a healthy pace in conjunction with population growth, and modest plant expansions, plus increased budgets.
... to continue reading you must be subscribed
