CARBON DIOXIDE UTILIZATION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America dominates the global carbon dioxide utilization market owing to strong industrial presence and favourable government policies promoting carbon capture utilization and storage (CCUS) technologies in the region with estimated 37.7% share in 2024. Majority of the CCUS capacity additions since 2010 have occurred in the U.S., which is a leader in CO2-EOR projects. Stringent environmental regulations have pushed companies in energy-intensive industries like oil & gas, cement, and power to adopt CCUS to reduce their carbon footprint. The abundant availability of natural reservoirs for CO₂ sequestration also makes North America an attractive market.

The Asia Pacific region is primed to be the fastest growing regional market for carbon dioxide utilization in the near future. Rapid industrialization and lack of stringent emissions norms have resulted in Asia Pacific becoming the largest carbon emitting region globally. This has prompted governments in the region to focus more sharply on environmental sustainability. Countries like China and India offer a compelling value proposition for manufacturers as these seek to balance economic growth priorities with climate change commitments.