The annual global carbon dioxide (CO2) market represents over 20 million metric tons of CO2 consumption in the merchant markets. Captive markets, such as the onsite manufacture of urea, methanol, sodium bicarbonate, and enhanced oil recovery (EOR) projects account for a significant additional tonnage, beyond the merchant market usage.
In the developed world, such as North America, Europe, and Japan, the major markets are rich in applications, often dominated by food use in all three phases of the commodity’s form; that being gaseous, liquid, and solid (as snow or pressed dry ice products).
The developing world, in many cases, is dominated by the application in soft drinks and sometimes beer, wine, and champagne markets (beverages in any event) as the leading use for the product, as well as some industrial and cylinder gas use. North America boasts over 10 million metric tons of consumption annually, while other major CO2 consuming global markets include Japan and Europe.
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