Triton Market Research, in its report on the carbon dioxide market in the Asia-Pacific region, has determined that it will grow at a CAGR of 3.33% and 2.99% in terms of revenue and volume, respectively, in the forecasted period 2019-2028.
The countries studied in the Asia-Pacific carbon dioxide market are:
• South Korea
• China
• ASEAN countries
• Japan
• India
• Australia & New Zealand
• Rest of APAC countries
In recent times, the oil and gas market in Japan has undergone a swift transformation. The country provides stable growth with considerably new investment opportunities in the long-term market. Also, local and foreign corporations in Japan are planning to expand their operations in the country, and hence, the oil and gas industry is likely to witness new growth opportunities. The booming oil and gas sector indicates an increase in the Japanese carbon dioxide market in the next few years.
The major manufacturers are trying to make market growth beyond their conventional core categories, which are performing poorly. Thus, it has become increasingly common for the established brands to extend into new product areas. With the introduction of new products under existing brands, these companies are trying to take benefit of the already-established customer recognition and trust to increase their capacity and build a strong presence in the market. All these factors are anticipated to increase revenue for the carbon dioxide market in the country in the next few years.
In India, a surge in trend is witnessed towards the development of the soft drinks market. Companies like Coca-Cola India and Parle Agro are implementing hyperlocal strategies in new product innovation and marketing tactics. These factors are expected to influence the growth of the carbon dioxide market in India positively.
Inox Air Products Ltd is a company primarily engaged in the manufacturing and distribution of gases. The company provides its products to different industries, including pharmaceuticals, chemicals and food & beverages. It provides special gasses, bulk gasses, cylinder gasses and on-site generation of gases. It is making huge investments in R&D activities to produce efficient gasses. The company is headquartered in Worli, Mumbai.
Some major companies in the carbon dioxide market are BOC, Linde, Air Products and Chemicals Inc, Airgas Inc, Air Liquide and Inox Air Products Pvt Ltd (Air Products and Chemicals Inc), Continental Carbonic Products Inc, Cosmo Engineering Co Ltd, Universal Industrial Gases Inc and Matheson Tri-Gas Inc.