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Get the latest insights on price movement and trend analysis of Carbon Monoxide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).
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United States - Producer Price Index by Commodity: Chemicals and Allied Products: Carbon Dioxide was 614.42900 Index 1982=100 in August of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Chemicals and Allied Products: Carbon Dioxide reached a record high of 614.42900 in August of 2025 and a record low of 80.80000 in July of 1981. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Chemicals and Allied Products: Carbon Dioxide - last updated from the United States Federal Reserve on September of 2025.
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The US Carbon Monoxide market is projected to reach a value of Bn USD by 2033, expanding at a CAGR of 5.50% during the forecast period 2025-2033. The market size in 2025 is estimated to be 9.38 Bn USD. The key drivers for the market growth include increasing demand for carbon monoxide in various industrial applications such as metal fabrication, chemicals, ore processing & extraction, pharma & biotechnology, and electronics. Other factors expected to drive the market include the robust growth of the manufacturing sector and increased government efforts to promote energy efficiency. Among the segments, the Metal Fabrication segment is expected to hold the largest market share during the forecast period, owing to the increasing demand for carbon monoxide in the manufacturing of steel, iron, and other metals. The Chemicals segment is also expected to register a significant CAGR during the forecast period, driven by the increasing demand for carbon monoxide in the production of various chemicals such as methanol, ethylene, and propylene. The Asia Pacific region is expected to be the fastest-growing region for the US Carbon Monoxide market during the forecast period. The key factors driving the regional market growth include the rapid industrialization in the emerging economies of the region such as China, India, and South Korea. Recent developments include: February 2022: Linde entered into an expanded agreement with Celanese to enhance prescreens. Linde expanded its existing agreement with Celanese Corporation to begin supplying carbon dioxide and hydrogen to the Celanese manufacturing establishment in Clear Lake, Texas.. Notable trends are: Swelling demand for organic and inorganic chemicals is driving the market growth..
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The global carbon monoxide market size was USD 3.36 Billion in 2023 and is likely to reach USD 4.71 Billion by 2032, expanding at a CAGR of 4.4% during 2024–2032. The market growth is attributed to the high demand for carbon monoxide in various industries across the globe.
Increasing demand for carbon monoxide in various industries is driving the market. The chemical industry, in particular, is witnessing a surge in the requirement for this colorless, odorless, and tasteless gas. Carbon monoxide is a crucial raw material in the production of numerous chemicals including methanol, formic acid, and other organic compounds. Its application as a reducing agent in metallurgy further boosts the market.
The use of artificial intelligence is likely to boost the carbon monoxide market. AI-powered detection systems are becoming increasingly prevalent in industries that use this gas. These systems accurately detect and alert about any potential leaks, significantly reducing the risk of accidents.
AI algorithms monitor and control the manufacturing process, in production, ensuring optimal conditions for generating the gas and reducing waste. AI's predictive analytics capabilities are proving invaluable in managing supply chains. These tools enable companies to plan production and distribution effectively, by accurately forecasting demand, thereby minimizing costs and maximizing pro
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The U.S. Carbon Monoxide Market size was valued at USD 464.6 USD Million in 2023 and is projected to reach USD 649.39 USD Million by 2032, exhibiting a CAGR of 4.9 % during the forecast period. Carbon monoxide is a poisonous, flammable gas that is colorless, odorless, tasteless, and slightly less dense than air. Carbon monoxide consists of one carbon atom and one oxygen atom connected by a triple bond. It is the simplest carbon oxide. In coordination complexes, the carbon monoxide ligand is called carbonyl. It is a key ingredient in many processes in industrial chemistry. carbon monoxide is important in the production of many compounds, including drugs, fragrances, and fuels. Upon emission into the atmosphere, carbon monoxide affects several processes that contribute to climate change. U.S. Carbon Monoxide (CO) market is projected to experience growth in the coming years. Recent developments include: February 2022 – Linde Plc. revealed that it had expanded its agreement with Celanese Corporation to supply carbon dioxide and hydrogen in the latter’s manufacturing facility located in Texas, U.S., February 2021 – Celanese Singapore signed a contract with Linde Gas Singapore to supply carbon monoxide. Such an agreement was expected to increase the company's presence in the Singaporean market.. Key drivers for this market are: Rapid Increase in Building & Construction Industry Globally is anticipated to Drive Market Growth. Potential restraints include: Stringent Government Regulations Regarding Carbon Monoxide to Restrain Market Growth. Notable trends are: Rising Emphasis on Environmentally Sustainable Iron Production to Create New Growth Opportunities.
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In North America Carbon Monoxide Market, The growth of steel manufacturing and metal refining processes is increasing the need for carbon monoxide as a reducing agent.
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Graph and download economic data for Producer Price Index by Industry: Industrial Gas Manufacturing: Carbon Dioxide (PCU3251203251204) from Jun 1981 to Aug 2025 about gas, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.
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View yearly updates and historical trends for US Producer Price Index: Chemicals and Allied Products: Carbon Dioxide. from United States. Source: Bureau o…
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Carbon Monoxide Gas Sensors Market Size 2024-2028
The carbon monoxide gas sensors market size is forecast to increase by USD 129.7 million at a CAGR of 8.5% between 2023 and 2028.
The market is experiencing significant growth, driven by the increasing prioritization of industrial safety measures. With the growing awareness of the hazardous effects of carbon monoxide (CO) gas on human health and the environment, there is a heightened demand for reliable CO sensors. A key trend in the market is the development of portable and wireless CO sensors, which offer increased flexibility and ease of use for various applications, including residential, commercial, and industrial settings. However, the market also faces challenges, such as the lack of skilled human resources to install, maintain, and interpret data from these sensors. As the market continues to evolve, companies seeking to capitalize on opportunities and navigate challenges effectively should focus on developing user-friendly solutions, investing in research and development, and collaborating with industry experts to address the skills gap. Overall, the market presents significant growth potential, driven by increasing safety regulations and the need for early detection and prevention of CO gas leaks.
What will be the Size of the Carbon Monoxide Gas Sensors Market during the forecast period?
Request Free SampleThe carbon monoxide (CO) gas sensors market in the US is experiencing significant growth due to the increasing demand for reliable gas detection equipment in various industries. CO, a colorless and odorless toxic gas produced during incomplete combustion, poses a serious threat to human health and safety. Power plants, steel industry, mining, and other industries that involve high CO emissions are major contributors to the market's growth. Advancements in CO sensors technology have led to the development of high-sensitivity sensors that can distinguish CO from other gases such as hydrogen (H2) and odors, reducing false alarms. Cross-interference and sensing electrodes are critical factors influencing the market's direction. CO sensors are essential in worker safety, particularly in toxic environments, where exposure levels must be closely monitored. The measuring range of CO sensors is expanding, with CO high sensors capable of detecting even low gas concentrations. The market's future growth is expected to be driven by the need for accurate detection in various applications, including personal protective equipment and environmental safety.
How is this Carbon Monoxide Gas Sensors Industry segmented?
The carbon monoxide gas sensors industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ApplicationMedicalPetrochemicalIndustrialOthersGeographyAPACChinaJapanSouth KoreaEuropeGermanyNorth AmericaUSMiddle East and AfricaSouth America
By Application Insights
The medical segment is estimated to witness significant growth during the forecast period.The market encompasses various applications, with the medical segment leading the way due to the increasing use of carbon monoxide (CO) in healthcare. CO is employed as an anti-inflammatory agent in preclinical animal models and hospital smoking cessation treatments. In some Chinese hospitals, doctors test patients for CO levels. However, carbon monoxide gas sensors face challenges such as false alarms, cross-interference, and calibration. Sensors like CO high sensors, electrochemical gas sensors, and catalytic gas sensors are used to detect CO. These sensors employ different measurement principles, such as electrochemical, catalytic, and infrared. CO sensors must distinguish CO from other gases like methane, hydrogen, and ammonia, and they must operate in toxic environments. Safety monitoring systems in industries like steel, power plants, and mining rely on these sensors to detect CO leaks and prevent exposure to hazardous levels. Gas detection technology includes various sensors like NDIR, photoionization, and magnetic gas sensors, each with its unique advantages and limitations. The market is driven by the need for worker safety, environmental monitoring, and personal protective equipment. The analytical ability of these sensors to measure CO concentrations and electrical signals is crucial for safety systems. Despite the challenges, the market is expected to grow due to the increasing demand for safety monitoring and the development of advanced gas sensors with improved detection accuracy and sensitivity.
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The Medical segment was valued at USD 67.80 million in 2018 and showed a gradual increase during the forecast period.
Regional Analysis
APAC is estimated to contribute 42% to the growth of the
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Graph and download economic data for Producer Price Index by Commodity: Chemicals and Allied Products: Carbon Dioxide (WPU06790302) from Jun 1981 to Aug 2025 about chemicals, commodities, PPI, inflation, price index, indexes, price, and USA.
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Carbon Dioxide Market Size 2025-2029
The carbon dioxide market size is valued to increase USD 2.36 billion, at a CAGR of 4.7% from 2024 to 2029. Rising demand for CO2 in oil and gas industry will drive the carbon dioxide market.
Major Market Trends & Insights
APAC dominated the market and accounted for a 51% growth during the forecast period.
By Technology - Combustion segment was valued at USD 4.65 billion in 2023
By Application - Enhanced oil recovery segment accounted for the largest market revenue share in 2023
Market Size & Forecast
Market Opportunities: USD 45.62 million
Market Future Opportunities: USD 2359.80 million
CAGR : 4.7%
APAC: Largest market in 2023
Market Summary
The market encompasses the global production, consumption, and trade of CO2 as a commodity. Key drivers propelling market growth include the rising demand for CO2 in the oil and gas industry for enhanced oil recovery and the surge in research and development activities for new applications in various sectors such as food and beverages, pharmaceuticals, and textiles. However, the high manufacturing cost of industrial CO2 poses a significant challenge to market expansion. According to a recent report, the oil and gas segment accounted for over 60% of the global CO2 market share in 2020. As the market continues to evolve, stakeholders must navigate the complex regulatory landscape and adapt to emerging trends, ensuring a sustainable and efficient CO2 value chain.
What will be the Size of the Carbon Dioxide Market during the forecast period?
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How is the Carbon Dioxide Market Segmented and what are the key trends of market segmentation?
The carbon dioxide industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
Technology
Combustion
Biological
Application
Enhanced oil recovery
Food and beverages
Precipitated calcium carbonate
Others
Source
Ethyl alcohol
Hydrogen
Substitute natural gas
Ethylene oxide
Others
Geography
North America
US
Canada
Europe
France
Germany
UK
APAC
Australia
China
India
Japan
South Korea
Rest of World (ROW)
By Technology Insights
The combustion segment is estimated to witness significant growth during the forecast period.
The market encompasses various applications, including carbon footprint calculation, geologic carbon storage, and CO2 conversion processes, among others. Carbon footprint calculation is a critical aspect of climate change mitigation, helping businesses and individuals assess their greenhouse gas emissions. Geologic carbon storage involves injecting CO2 deep underground to reduce emissions. Combustion processes, such as biomass gasification, algae biofuel production, and renewable fuel production, are essential components of the market. These processes contribute to emissions reduction by generating energy from renewable sources and reducing reliance on fossil fuels. Additionally, afforestation and reforestation, methane emission reduction, renewable energy integration, emissions trading schemes, ocean CO2 absorption, waste gas treatment, sustainable transportation, enhanced oil recovery, carbon mineralization, industrial process optimization, atmospheric CO2 monitoring, carbon pricing mechanisms, greenhouse gas accounting, building energy codes, carbon tax policies, CO2 pipeline infrastructure, industrial CO2 utilization, and steel production emissions are all integral parts of the market.
According to recent studies, the carbon capture technology market is expected to grow by 15% in the next year, driven by increasing demand for reducing emissions. Furthermore, energy efficiency measures, such as the adoption of LED lighting and smart grids, are projected to expand by 20% during the same period. These trends underscore the market's continuous evolution and the ongoing efforts to minimize carbon emissions across various sectors.
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The Combustion segment was valued at USD 4.65 billion in 2019 and showed a gradual increase during the forecast period.
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Regional Analysis
APAC is estimated to contribute 51% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The Carbon Dioxide (CO2) market in Asia Pacific (APAC) is experiencing notable expansion, driven by the escalating demand for CO2 in food processing and beverage carbonation applications. China and India are the primary contributors to
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Carbon Monoxide is a strong alkali possessing the chemical. Carbon Monoxide is one of the most popularly used chemicals
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United States - Producer Price Index by Industry: Industrial Gas Manufacturing: Carbon Dioxide was 774.13700 Index Jun 1981=100 in July of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Industrial Gas Manufacturing: Carbon Dioxide reached a record high of 774.13700 in July of 2025 and a record low of 100.00000 in July of 1981. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Industrial Gas Manufacturing: Carbon Dioxide - last updated from the United States Federal Reserve on September of 2025.
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The Carbon Monoxide Marketsize was valued at USD 3.36 USD Billion in 2023 and is projected to reach USD 4.54 USD Billion by 2032, exhibiting a CAGR of 4.4 % during the forecast period. Carbon monoxide or CO is a flammable gas that cannot be seen, smelt, or tasted because of its clear color, Odor, and taste. It occurs as a result of the incomplete combustion of fuels that contain carbon like natural gases, gasoline, and wood among others. There are two primary types: improvement industrial and environmental. Industrial CO is emitted during the production processes while environmental CO originates from the burning of fuels and through fires. Notably, CO is toxic and can lead to more serious health problems such as respiratory problems, heart problems, and even death in some cases because it decreases the amount of oxygen that the blood can carry. However, it is used in such processes as metallurgy and organic synthesis because of the role played by this compound. Thirdly, iron is also a reducing agent in all the chemical reactions that it is involved in and is very vital in the synthesis of chemicals such as methanol and hydrogen among others. Recent developments include: August 2023 - Air Products Company announced that it is ready to launch two new world-scale carbon monoxide (CO) projects. This new project expands the world’s largest carbon monoxide pipeline network based in the U.S. Gulf Coast. In addition, it increases the CO capacity by around 70 Million Standard Cubic Feet Per Day (MMSCFD)., July 2022 - Air Liquide’s subsidiary company, Shanghai Chemical Industry Park Industrial Gases Co., Ltd, invested money to set up two hydrogen production units in Shanghai Chemical Industry Park. These production plants will be able to produce 70,000 Nm3/h hydrogen (H2) and 28,000 Nm3/h carbon monoxide., February 2022 - Linde entered an expanded agreement with Celanese to enhance prescreens. The company expanded its existing agreement with Celanese Corporation to begin supplying carbon dioxide and hydrogen to the Celanese manufacturing facility in Clear Lake, Texas., February 2021 – Celanese Singapore, a global specialty material and chemical manufacturing company, announced the extension of the long-term contract with Linde Gas Singapore for the supply of carbon monoxide.. Key drivers for this market are: Rising Metal Extraction and Mining Activities to Propel the Market Growth. Potential restraints include: Poisonous Nature of the Gas May Hinder the Market Growth. Notable trends are: Rising Uptake of Syngas is an Emerging Trend .
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The report on Carbon Monoxide Market offers in-depth analysis on market trends, drivers, restraints, opportunities etc. Along with qualitative information, this report include the quantitative analysis of various segments in terms of market share, growth, opportunity analysis, market value, etc. for the forecast years. The global carbon monoxide market is segmented on the basis of type, application and geography.
The worldwide market for Carbon Monoxide Market is expected to grow at a CAGR of roughly x.x% over the next ten years and will reach US$ XX.X Mn in 2028, from US$ XX.X Mn in 2018, according to a new Market.us (Prudour Research) study. Read More
As of April 2025, the European Union Emission Trading Scheme (EU ETS) carbon price was above ** U.S. dollars per metric tons of carbon dioxide equivalent (USD/tCO₂e). The EU ETS launched in 2005 as a cost-effective way of reducing greenhouse gas emissions, and was the world's first major international carbon market. The UK was formerly part of the EU ETS, but replaced this with its own system after withdrawing from the EU. As of April 2025, the price of carbon on the UK ETS was almost ** USD/tCO₂e.
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As per Cognitive Market Research's latest published report, the Global Liquid Carbon Dioxide market size will be $2,071.22 Million by 2028.Liquid Carbon Dioxide Industry's Compound Annual Growth Rate will be 4.82% from 2023 to 2030.
The North America Liquid Carbon Dioxide market size will be USD 780.64 Million by 2028.
Factors Affecting Liquid Carbon Dioxide Market Growth
Rising demand for food & beverages industry
The food and beverage industry has a unique role in expanding economic opportunity because it is universal to human life and health. This industry operates various segments where billions of people grow, transform, and sell food, particularly in developing countries where agriculture dominates all other economic sectors. The global food & beverage industry has seen rapid growth over the last ten years and this is expected to continue. The global food and beverage industry is growing at around 5% a year and global expenditure on food products by consumers is expected to reach US$20 trillion by 2030.
Following graph shows the global revenue in the food & beverages industry which is projected to reach US $258,741 million in 2021.
Asia Pacific is the fastest growing region for the food & beverage industry due to rapid increasing population. India is forecast to have the strongest annual growth of food & beverage sales between 2017 and 2020, with 13.1%. Average annual growth in China reached to 11.2% over the last four years. Indonesia and the Philippines both countries expected to see a strong acceleration in growth, with forecasts of 10.1% and 9.6% respectively. After Asia Pacific region second most growing region for the food & beverage industry is Middle East & Africa, which is followed by the America.
Moreover, healthy food development has become a relentless pattern, due to enormous part to a more prominent social attention to sustenance. The move towards more advantageous foods has been driven by shopper request, and when all is said in done the business has rushed to react, with numerous brands reformulating or re promoting their merchandise. Liquid carbon dioxide is widely used in the preservation of food, in fire extinguishers, and in commercial food processes. For food preservation, liquid carbon dioxide is used to refrigerate, preserve, store and soften.
Hence, rising demand for food & beverages industry boost the demand of liquid Co2 market.
The Restraining Factor of Liquid Carbon Dioxide
High Costs of Production and Transportation:
The production of liquid carbon dioxide is energy-intensive, requiring low-temperature liquefaction processes and high-purity feedstocks, which raise operational costs. Additionally, because liquid CO? must be stored at very low temperatures and under pressure, its transportation demands specialized cryogenic tanks and insulated pipelines. These storage and logistical requirements not only elevate capital and maintenance costs but also limit distribution over long distances, especially in underdeveloped regions lacking proper infrastructure. This cost barrier can deter small- and medium-scale end-users from adopting liquid CO?, limiting market growth.
Environmental and Regulatory Pressures:
Although liquid CO? is often a byproduct of industrial processes (such as ammonia or ethanol production), it is still classified as a greenhouse gas. Increasing global efforts to reduce carbon emissions have prompted tighter environmental regulations, which could restrict the availability of CO? from certain sources or impose additional compliance costs. Furthermore, evolving climate change policies and the push for carbon-neutral or carbon-negative technologies may shift focus away from conventional CO? utilization and toward carbon capture and storage (CCS) or alternative green technologies. This regulatory uncertainty could hinder long-term investment and slow market expansion.
Opportunities for Liquid Carbon Dioxide Market
Growing Demand in the Food and Beverage Industry:
Liquid carbon dioxide is widely used in the food and beverage sector for applications such as carbonation of soft drinks, preservation, chilling, freezing, and packaging under modified atmospheres. With the global increase in consumption of ready-to-eat and frozen foods, particularly in emerging markets like Asia-Pacific and Latin America, the demand for liquid CO? is expected to surge. Additionally...
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Why did the Liquid Carbon Dioxide Price Change in July 2025? The Liquid Carbon Dioxide Price Index in the U.S. showed moderate upward pressure during Q2 2025, with prices reaching USD 590/MT, DEL Illinois.
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After two years of decline, the U.S. carbon dioxide market increased by 8.7% to $1.2B in 2024. In general, consumption, however, saw a buoyant expansion. Over the period under review, the market hit record highs at $1.5B in 2021; however, from 2022 to 2024, consumption failed to regain momentum.
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Carbon Dioxide Removal Market Size 2024-2028
The carbon dioxide removal market size is forecast to increase by USD 21.25 billion, at a CAGR of 26.73% between 2023 and 2028.
The Carbon Dioxide Removal (CDR) market is experiencing significant growth due to increasing investments in direct air capture technology. This technology, which absorbs CO2 directly from the atmosphere, is gaining traction as a promising solution for reducing greenhouse gas emissions. However, the market's growth is not without challenges. One of the primary obstacles is the permanence of carbon storage solutions. Despite advancements in carbon capture and storage (CCS) technology, ensuring the long-term stability of stored CO2 remains a concern. As the demand for CDR technologies continues to rise, companies must address this challenge to build trust and confidence in their offerings.
Additionally, the market faces regulatory hurdles and high implementation costs, which may limit its growth potential. To capitalize on market opportunities and navigate challenges effectively, companies must focus on developing robust carbon storage solutions and collaborating with governments and industry partners to address regulatory and financial barriers.
What will be the Size of the Carbon Dioxide Removal Market during the forecast period?
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The market continues to evolve, driven by the pressing need for climate change mitigation and the increasing demand for net zero emissions. The market encompasses a range of applications, from carbon mineralization and co2 utilization to carbon capture plants and negative emissions technologies. These solutions are integrated into various sectors, including renewable energy and clean technology, to enhance their carbon footprint reduction capabilities. Carbon capture feasibility and cost remain key considerations in the deployment of carbon capture systems. Co2 capture membranes and sorbents play crucial roles in this process, with ongoing research and development efforts aimed at improving their efficiency and reducing costs.
The carbon capture equipment market is expanding, with an increasing number of co2 capture plants coming online. Carbon pricing and emissions trading schemes are also shaping the market, providing financial incentives for carbon capture deployment. The use of carbon removal credits is gaining traction as a means of offsetting emissions and achieving carbon neutrality. The ongoing unfolding of market activities reveals a dynamic and complex landscape, with continued innovation and collaboration required to effectively address the challenges of climate change. Greenhouse gas removal technologies, including direct air capture and carbon sequestration, are essential components of the market.
These solutions offer promising opportunities for co2 utilization and storage, contributing to the development of a circular carbon economy. The integration of negative emissions technologies into industrial processes, such as enhanced oil recovery, is another area of focus, with potential for significant emissions reductions. The carbon capture market is characterized by its continuous evolution, with new developments and trends emerging regularly. The market's ongoing dynamism reflects the urgent need for effective climate change solutions and the potential for innovative technologies to make a significant impact on reducing greenhouse gas emissions.
How is this Carbon Dioxide Removal Industry segmented?
The carbon dioxide removal industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Technology
DAC
CCS
Bioenergy with CCS
Soil carbon sequestration
Others
Application
Industrial
Agricultural
Energy production
End-User
Corporations
Governments
Carbon Credit Markets
Deployment Type
Land-Based
Ocean-Based
Geography
North America
US
Canada
Europe
France
Germany
Netherlands
UK
Middle East and Africa
South Africa
UAE
APAC
Australia
China
India
Japan
South Korea
South America
Brazil
Rest of World (ROW)
By Technology Insights
The dac segment is estimated to witness significant growth during the forecast period.
Carbon dioxide removal (CDR) markets have witnessed notable growth with the increasing emphasis on climate change mitigation and net zero emissions. One prominent CDR method is Direct Air Capture (DAC), which can be deployed at various scales, from small facilities to large industrial plants. This flexibility makes it an attractive solution for diverse locations, enabling seamless integration into existing infrastructures. DAC's geological storage capability allows for permanent carbon
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Get the latest insights on price movement and trend analysis of Carbon Monoxide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).