Triton Market Research’s report on the Latin American carbon dioxide market illustrates that the industry is anticipated to proliferate at a CAGR of 2.82% and 1.93% in terms of revenue and volume, respectively, during the forecasted period 2019-2028.
The countries reviewed in the Latin American carbon dioxide market are:
• Mexico
• Brazil
• Rest of Latin America
The soft drinks industry in Brazil has been finally recovering after a consistent performance decline in the last three years. This growth is driven primarily by resuming carbonates and increased bottled water volume sales in the country. These factors will increase the potential use of carbon dioxide in the sector, thereby indicating an increased market growth in Brazil.
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As per the data provided by a local oil & gas association, Amexhi, in Mexico, about 22 companies are now producers of oil and natural gas, and another two are likely to join in 2020. Private sector companies are supplying approximately 49000 b/d of crude oil production. The natural gas output in the private sector averaged as 228.9 MMcf/d. The growth in oil & gas production in the next coming years is expected to increase the demand for carbon dioxide in Mexico, and thus influencing the market growth positively in the country.
In Mexico, the working population is mostly urbanized, and most of the people are leading busier lives. Therefore, the demand for convenience is a major factor responsible for the growth of the food & beverages market in the country. This factor is likely to push the soft drinks market further, thereby increasing the use of carbon dioxide in the market.
Airgas Inc is a company majorly engaged in the manufacturing of gas equipment and provides different gases including, hydrogen, acetylene, nitrogen, argon, oxygen, carbon dioxide, helium, propane and propylene. The company offers different products like gas equipment, safety products, gasses and tools & hardware. It also specializes in refrigerant gasses, cutting gasses, welding supplies and equipment rentals.
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.