The Latin America, Middle East and Africa Carbon Dioxide Market would witness market growth of 6.4% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 2,512.87 kilo tonnes, showcasing a growth of 5.8% (2023-2030).
Dry ice finds extensive use across various industries due to its unique properties. One of its primary applications is in the food and beverage sector, where it is employed for rapid and efficient freezing and cooling during transportation and storage of perishable goods. Additionally, dry ice is widely utilized in the healthcare industry for preserving medical samples and transporting sensitive materials like organs and vaccines at low temperatures, ensuring their integrity and efficacy. Therefore, the Brazil Market would consume 78.55 Kilo Tones in the market in 2030.
The Brazil market dominated the LAMEA Carbon Dioxide Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $297.8 Million by 2030. The Argentina market is showcasing a CAGR of 7.5% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6% during (2023 - 2030).
Electrochemical conversion technologies utilize renewable electricity to convert CO2 into value-added products such as synthetic fuels and chemicals. Innovations in electrocatalysis, electrolysis, and electrochemical reactors enable efficient and selective CO2 reduction, offering a pathway for carbon-neutral and carbon-negative processes. These technologies leverage renewable energy sources to decarbonize industrial processes and reduce reliance on fossil fuels.
Carbon pricing mechanisms, such as emissions trading schemes and taxes, are pivotal in influencing market incentives and stimulating expenditures in low-carbon technologies. Innovations in carbon pricing models, revenue allocation strategies, and international cooperation mechanisms enhance the effectiveness and fairness of carbon pricing schemes. Carbon pricing fosters innovation, incentivizes emission reductions, and encourages the adoption of CO2 mitigation measures across sectors.
The oil sector in the UAE may drive the demand for CO2 for enhanced oil recovery (EOR) projects. EOR techniques, such as CO2 injection, increase oil production from mature oil fields by injecting CO2 into reservoirs to enhance oil mobilization and displacement. According to the International Trade Administration (ITA), among the top ten oil-producing countries is the UAE. Abu Dhabi is home to around 96% of the nation’s approximately 100 billion barrels of known oil reserves, ranking sixth. Furthermore, by 2030, KPC plans to boost natural gas extraction to 4 billion cubic feet daily. Kuwait plans to spend $44 billion on oil production, exploration, and other projects by 2025. Hence, the expansion of the region’s oil sector is propelling the market’s growth.
Free Valuable Insights: The Worldwide Carbon Dioxide Market is Projected to reach USD 14.9 Billion by 2030, at a CAGR of 4.9%
Based on Application, the market is segmented into Food & Beverages, Oil & Gas, Medical, Rubber, Firefighting, and Others. Based on Form, the market is segmented into Liquid, Gas, and Solid. Based on Source, the market is segmented into Ethyl Alcohol, Hydrogen, Ethylene Oxide, Substitute Natural Gas, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Application (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Form (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Source (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, kilo Tonnes, USD Billion, 2019-2030)
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