United Kingdom Carbon Dioxide Market Size, Share, Growth: By Source: Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, Others; By Production: Biological, Combustion; By End Use: Food and Beverages, Oil and Gas, Medical, Rubber, Metal Fabrication, Others; Market Dynamics; Competitive Landscape; 2024-2032

United Kingdom Carbon Dioxide Market Outlook

The United Kingdom carbon dioxide market size attained around 758.13 KMT in 2023. The market is projected to grow at a CAGR of 1.5% between 2024 and 2032, reaching almost 865.98 KMT by 2032.

Key Takeaways

• Reportedly, in 2019, around 230 million tonnes (Mt) of carbon dioxide  (CO2) was utilised globally.

• Carbon capture, use, and storage technologies  can capture more than 90 per cent of carbon dioxide (CO2) emissions from power plants and industrial facilities.

• New pathways for utilising CO2 in synthetic fuels , chemicals, and building materials are growing.

Carbon dioxide (CO2) is a colourless gas composed of one carbon atom and two oxygen atoms. It is vital for life on the earth, primarily because it is used by plants during photosynthesis to produce oxygen. CO2 is generated through various industrial processes, including steam methane reforming, ethanol fermentation, and ammonia production, among others. This gas plays a crucial role in Earth's atmospheric functions and human activities.

The expansion of the building and construction industry owing to the rising population, increasing standards of living, strong foothold of major construction companies, and rising investments in infrastructural development projects are driving the United Kingdom carbon dioxide market growth. Additionally, the growing efforts by the governments in France, Spain, Switzerland, Poland, and Germany to improve road networks are likely to be a major factor aiding the market growth.

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Key Trends and Developments

Focus on environmental regulations; increasing use of CO2 in food, beverages, and medical sectors, cost-efficient goods from captured carbon; and a growing R&D on carbon capture technology are favouring the United Kingdom carbon dioxide market growth

Mar 12th 2024

Mitsubishi Heavy Industries (MHI) signed a license agreement with KBR, Ltd. to provide CO2 capture technology for a low-carbon hydrogen production plant in Cheshire, Northwest England.

Jan 30th 2024

BGS updated its national CO2 storage database, CO2 Stored, adding over 60 new carbon dioxide storage units.

Mar 11th 2023

Britain committed £20 billion over 20 years to carbon capture projects, aiming to meet climate goals and generate jobs.

Dec 9th 2022

The UK approved its first carbon capture plant, Keadby 3, which could remove 1.5 million tonnes of CO2 annually, amidst concerns over unproven technology.

Growing emphasis on environmental regulations and climate change mitigation

Environmental rules and climate efforts are setting emission targets and boosting demand for CO2 capture and utilisation technologies.

Increasing utilisation of carbon dioxide in food and beverages  and medical procedures

CO2 finds a wide number of applications in the food and beverage and healthcare sectors. It is extensively utilised for drying fruits and vegetables and as dry ice for refrigeration. In the medical sector, it finds use in various minimally invasive surgeries and increases the depth of anaesthesia rapidly when volatile agents are being administered.

Cost efficiency of goods obtained from captured carbon

The cost efficiency of goods obtained from captured carbon, such as CO2-based polymers and carbonated building materials, is a significant factor driving their adoption.

Growing focus on research and development of carbon capture technology

Increasing research initiatives and innovations with new applications related to carbon capture have enabled the players to lower the cost of transporting and storing carbon dioxide.

United Kingdom Carbon Dioxide Market Trends

The goods obtained from carbon capture are often more economical than their conventional counterparts made from fossil feedstock, primarily due to several key factors. The lower cost of raw materials obtained from captured carbon plays a crucial role in driving cost efficiency. Unlike fossil feedstock, which is subject to price fluctuations and supply chain uncertainties, carbon dioxide can be captured from industrial processes, such as power plants or cement factories, as a byproduct.

The growing focus on research and development (R&D) of carbon capture technology is driven by the urgent need to reduce greenhouse gas emissions and combat climate change. Carbon capture technology aims to capture carbon dioxide (CO2) emissions from industrial processes and power plants, preventing them from entering the atmosphere and contributing to global warming.

Increasing R&D focused on developing more efficient and cost-effective capture technologies is aiding the United Kingdom carbon dioxide market expansion. This includes the development of new materials and processes that can capture CO2 more effectively, as well as the optimisation of existing capture technologies to reduce costs and improve performance.

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Market Segmentation

“United Kingdom Carbon Dioxide Market Report  and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Source

• Hydrogen

• Ethyl Alcohol

• Ethylene Oxide

• Substitute Natural Gas

• Others

Market Breakup by Production

• Biological

• Combustion

Market Breakup by End-Use

• Food and Beverages

• Oil and Gas

• Medical

• Rubber

• Metal Fabrication

• Others

Combustion is likely to be the most commonly used method of production for CO2 in the United Kingdom carbon dioxide market

In the United Kingdom, the majority of CO2 emissions stem from fossil fuel combustion. Carbon dioxide is produced when carbon-containing materials, such as fossil fuels, are burned in the presence of oxygen. This process releases energy and converts the carbon into carbon dioxide.

Carbon dioxide is naturally emitted through organic material breakdown by microbes and the ocean. Rising temperatures accelerate microbial activity, thus increasing CO2 production. Additionally, organisms release CO2 during respiration, a process that converts glucose and oxygen into energy.

The food and beverages sector dominates the United Kingdom carbon dioxide market share

The food and beverages sector utilises carbon dioxide (CO2) in several innovative and essential ways. The most well-known use of CO2 in the food and beverages sector is in the carbonation of soft drinks, sparkling waters, and beers. CO2 is dissolved into these beverages under pressure, creating the characteristic fizz and bubbles that enhance the sensory experience of the drink.

Another major application includes the use of CO2 in modified atmosphere packaging (MAP) to extend the shelf life of perishable food products such as meat, poultry, seafood, fruits, and vegetables. By replacing oxygen with CO2 in the packaging, the growth of aerobic bacteria and fungi is inhibited, which helps preserve freshness and colour, reduces spoilage, and extends the product's shelf life without the need for chemical preservatives.

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Competitive Landscape

Major players in the United Kingdom carbon dioxide market are increasingly utilising carbon dioxide in a wide variety of applications:

Air Products Inc.

Air Products Inc., founded in 1940, is headquartered in Pennsylvania, the USA. The company has grown to become a leading global supplier of industrial gases, including oxygen, nitrogen, and hydrogen, and various speciality gases for various industries, including refining, chemical, metals, electronics, and manufacturing.

BOC Limited (Linde)

BOC Limited, now a part of the Linde Group following its acquisition in 2006, was originally established in 1886. It is headquartered in Surrey, the United Kingdom. Linde PLC, the parent company, is a leading multinational chemical company that supplies industrial gases and engineering services to customers in a wide range of industries worldwide.

Air Liquide UK Ltd

Air Liquide UK Ltd is a part of the French multinational company L'Air Liquide S.A., which was founded in 1902 and is headquartered in Paris, France. In the UK, Air Liquide operates extensively, providing gases like oxygen, nitrogen, and argon for various applications, including medical, chemical, and industrial uses.

Pro Gases (UK) Ltd

Pro Gases (UK) Ltd is based in Wirral, England. Pro Gases focuses on providing a range of industrial, beverage, and special gases to meet the specific needs of its customers across the UK.

Other key players in the United Kingdom carbon dioxide market are Nippon Gases and others.

The UK government's initiatives to promote carbon capture, utilisation, and storage (CCUS) technologies are creating opportunities for companies in the United Kingdom carbon dioxide market.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.