According to ChemAnalyst report, “India Carbon Dioxide (CO2) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2035”, The India Carbon Dioxide (CO2) Market has shown a significant consumption in the historic period of FY2015-FY2021 and is estimated to reach around 3500 thousand tonnes by FY2035, at a steady CAGR of 4.51% during the forecasted period till FY2035. The end-use industries like Food & Beverages, Healthcare, Chemicals & Petrochemicals, Fire Extinguisher, and Welding are anticipated to propel the Carbon Dioxide (CO2) Market in India in the forthcoming years.
Carbon Dioxide or CO2 is easy to produce and is available in large quantities. This gas which is generally produced as a by-product when hydrogen is synthesized. This gas can also be synthesized by coal gasification, biomass gasification, and electrolytic processes. Typically, at room temperature, this gas is non – combustible, odourless, and colourless. Carbon dioxide is widely used in modified atmospheric packaging (MAP), which extends the shelf life of food products like meat, poultry, and frozen vegetables. CO2 helps maintain the freshness of fruit and vegetables for a long time. It stops it from getting harder and riper, as well as from growing mould. Additionally, CO2 is used in cryogenic freezing systems in this industry for freezing and chilling applications. CO2 also finds applications in industries such as oil & gas, medicine, rubber, firefighting, agricultural growth enhancement, renewable fuel production, etc. Additionally, for numerous surgical procedures, such as endoscopy and arthroscopy, carbon dioxide gas is generally used as an insufflation agent.
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Carbon Dioxide market in India is primarily driven by its application in the Food & Beverage industry. It is projected that the need for carbon dioxide in India will rise as a result of the country’s growing population, industrialization, and demand for ready-to-eat snacks and meals. Moreover, application of carbon dioxide in the medical application segment for uses such as anaesthesia, respiratory stimulation, and equipment disinfection in the forecast period for surgeries further fuels the CO2 market.
Regionally, Indian Carbon Dioxide (CO2) market is segregated into four regions based on regional consumption: West, South, North, and South. North India is dominating the CO2 market expected to be the largest consumer even in FY2023. This rising demand in North India is linked to the existence of significant food and beverage enterprises there. In addition, a rise in the demand for carbon dioxide (CO2) due to the presence of renowned hospitals in states like Gujarat, Maharashtra, and Rajasthan is anticipated to further swell the CO2 demand.
“India Carbon Dioxide (CO2) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2035” Major players in the India Carbon Dioxide (CO2) market are Southern Petrochemical Industries Corporation Limited (SPIC), Punjab Carbonic private Limited, Indian Farmers Fertilizer Cooperative, SICGIL India Limited, National Fertilizers Limited, Nagarjuna Fertilizers and Chemicals Limited, Bathinda industrial Gases Pvt. Ltd. (BIGPL), Prime Gases, Jubilant lifesciences limited, Solvay Vishnu Barium Pvt Ltd., and others.
“The constantly increasing demand of Carbon Dioxide (CO2) in the food & beverage sector to extend shelf life of food used in modified atmospheric packaging (MAP), cryogenic food preservation for storage and transport and add fizziness to carbonated beverages application which is expected to boost the India Carbon Dioxide (CO2) Market in the forecast period until FY2035. Moreover, the application of medical CO2 in the medical sector as an insufflation gas
for applications in minimally invasive procedures like arthroscopy, endoscopy, and laparoscopy is another prominent cause of market expansion. As of FY2022, North India is leading consumer of CO2 as majority of food & beverage factories are situated in this region of the country and is anticipated to display the same trend in the upcoming years. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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