According to an analysis by Triton Market Research, the carbon dioxide market in North America is likely to augment at a CAGR of 2.89% and 2.51% in terms of revenue and volume respectively over the forthcoming period between 2019 and 2028.
The countries evaluated in the North American carbon dioxide market are:
• Canada
• The United States
Canada is among the top ten countries in the world, considering the nominal GDP (gross domestic product). According to IMF (International Monetary Fund), the GDP growth rate of the nation is likely to be a bit less than 2% until the year 2020. The US is reported as the most important trade partner for Canada. The economy of Canada is diversified and well-developed, the foundation of the economy being foreign trade. Also, foreign trade is contributing to nearly 45% of the country’s gross domestic products. It also includes food & beverage products. Therefore, the demand for the carbon dioxide market in this region, especially in the food & beverage sector, is likely to remain stable for the forthcoming period. This will aid the growth of the studied market in the country.
https://www.tritonmarketresearch.com/reports/north-america-carbon-dioxide-market#request-free-sample
In the United States, a gradual increase in the production of petroleum and natural gas has been observed over recent years. It is reported that, in 2018, petroleum production experienced growth by 16%, while natural gas witnessed a 12% upsurge. This escalating production is estimated to consequently increase the demand for carbon dioxide, as it is used in the retrieval process of these products from the reservoirs. In addition, carbonated drinks have been gaining huge popularity among the US population, thereby boosting the demand for carbon dioxide in the country. This increased demand will lead to the growth of the US carbon dioxide market.
Matheson Tri-Gas is a company producing and supplying industrial and specialty gases, along with gas handling equipment. It provides medical, semiconductor, welding, and cylinder gases, atmospheric and bulk gases. It caters to the need of customers using gas in their fabs, labs, processes and plants. The company is headquartered in Irving, Texas, the US.
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.