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United Kingdom Carbon Dioxide Market

United Kingdom Carbon Dioxide Market Size, Growth and Outlook | 2034

United Kingdom Carbon Dioxide Market Outlook

The carbon dioxide (CO2) market in the United Kingdom is witnessing steady growth, with the market volume of 725.80 KMT in 2024. Driven by an increasing demand for CO2 across multiple industries such as food and beverage, healthcare, and industrial applications, the United Kingdom carbon dioxide market is expected to expand further, with a compound annual growth rate (CAGR) of 1.50% from 2025 to 2034. By the end of the forecast period in 2034, the UK carbon dioxide market is projected to reach a value of volume of 842.32 KMT.

Carbon dioxide is a vital industrial gas used in a variety of sectors. It is an essential component in the production of carbonated beverages, as well as in medical applications, food preservation, and industrial processes. It is also used in fire suppression systems, as a refrigerant in some cooling systems, and in the manufacturing of chemical products. The versatility of CO2 across these varied industries is a primary driver of its demand in the UK market.

Demand from the Food and Beverage Industry

The food and beverage industry is the largest consumer of United Kingdom carbon dioxide market. CO2 plays an integral role in the production of carbonated soft drinks, sparkling water, and alcoholic beverages like beer and champagne. Additionally, CO2 is widely used in food preservation, including the packaging of fresh produce, meat, and seafood, to extend shelf life and prevent spoilage. The ongoing consumer preference for convenience foods and beverages, particularly in the carbonated drinks segment, is significantly driving the demand for CO2.

As the UK’s beverage industry continues to grow, both in terms of volume and innovation, the demand for carbon dioxide is expected to maintain an upward trajectory. The trend towards healthier beverages, including low-sugar and sugar-free drinks, is further supporting market growth. Additionally, there is a rising interest in craft beers and specialty carbonated beverages, which utilize CO2 for both carbonation and preservation.

Healthcare and Medical Applications

In the medical field, carbon dioxide is used in various applications, such as insufflation during surgeries, particularly in laparoscopic procedures. It is also employed in cryogenic therapy, as a cooling agent, and in the formulation of medical gases. With an aging population and an increasing focus on healthcare innovation, the demand for United Kingdom carbon dioxide market in the healthcare sector is poised to rise in the coming years.

Additionally, CO2 is essential in the production of carbonated beverages used for medical purposes, such as electrolyte replenishment and hydration solutions. The expanding healthcare sector, coupled with the growing demand for advanced medical treatments, will continue to drive the United Kingdom carbon dioxide market.

Industrial Applications and Carbon Capture Technology

Another key factor fueling the growth of the United Kingdom carbon dioxide market is its role in industrial applications, including the manufacturing of chemicals and fuels. Carbon dioxide is used as a feedstock in the production of urea, a chemical used extensively in fertilizers. It is also used in enhanced oil recovery (EOR) processes, which have become more significant with the rise in demand for oil and gas. As industries continue to modernize and adopt more sustainable technologies, the application of CO2 in green chemistry and carbon capture and storage (CCS) technologies is gaining traction.

CCS technology, in particular, is receiving attention as a potential solution to reduce greenhouse gas emissions and mitigate the impact of climate change. The UK government has outlined several initiatives in its climate policies aimed at decarbonizing industrial processes, and CO2 capture technology is expected to play an essential role in these efforts. Consequently, the market for CO2 in these areas is expected to increase significantly over the next decade.

Environmental Regulations and Sustainability Efforts

The UK government has committed to achieving net-zero carbon emissions by 2050, which is driving various sustainability efforts in industries reliant on carbon dioxide. Regulatory frameworks and policies aimed at reducing carbon footprints are pushing businesses to explore alternatives to traditional CO2 sources. While some industries still rely on natural gas-derived CO2, others are turning to more sustainable CO2 sources, such as bio-based CO2 or captured CO2 from industrial processes.

The move towards sustainability is prompting businesses to adopt circular economy practices, including reusing and recycling carbon dioxide. As CO2 recycling technologies become more advanced, there is growing interest in using captured CO2 to create valuable products such as biofuels, plastics, and even carbonated beverages. This trend towards sustainable CO2 usage is expected to influence market dynamics significantly over the next few years.

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United Kingdom Carbon Dioxide Market Segmentation

The market can be divided based on source, production and End use.

Breakup by Source

  • Ammonia
  • Ethyl Alcohol
  • Substitute Natural Gas and CCU

Breakup by Production

  • Biological
  • Combustion

Breakup by End Use

  • Food and Beverages
  • Oil and Gas
  • Medical
  • Metal Fabrication
  • Others

Competitive Landscape

Some of the major players explored in the report by  Expert Market Research are as follows:

  • Ensus UK Limited
  • BioCarbonics Ltd.
  • Tata Chemicals Europe Limited
  • Yara International ASA
  • Air Products PLC
  • BOC Limited (Linde)
  • Air Liquide UK Ltd
  • Nippon Gases
  • Progases (UK) Ltd
  • Others

Challenges and Market Restraints

High Dependency on Industrial Sources: Despite the growing trend towards sustainability, the majority of United Kingdom carbon dioxide market is still sourced from industrial processes such as natural gas processing and ammonia production. The reliance on these sources creates certain challenges related to environmental impact and resource availability. While technologies such as CO2 capture and storage (CCS) are evolving, the widespread implementation of these systems is still in its infancy and faces regulatory, technological, and economic hurdles.

Fluctuations in Raw Material Prices: The cost of CO2 production is heavily influenced by fluctuations in the prices of raw materials used in its production, particularly natural gas. Any volatility in the global energy markets can directly impact the cost structure for CO2 suppliers, potentially leading to price instability in the market. Additionally, fluctuations in the demand for CO2 from key sectors like food and beverage, which are sensitive to economic conditions, can also contribute to market uncertainties.

Environmental and Safety Concerns: The handling and transportation of CO2 pose environmental and safety concerns, particularly given the potential for leaks and accidents during storage and shipment. These concerns are particularly pertinent for the food and beverage industry, where the gas must be stored and handled in compliance with stringent health and safety regulations. Ensuring the safe storage, transportation, and disposal of CO2 will be essential for the long-term growth and sustainability of the United Kingdom carbon dioxide market.

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