U.S. Carbon Dioxide Market Size Worth USD 3.58 Billion by 2034 | CAGR: 4.08%

The U.S. carbon dioxide market size is expected to reach USD 3.58 billion by 2034, according to a new study by Polaris Market Research. The report “U.S. Carbon Dioxide Market Share, Size, Trends, Industry Analysis Report By Source (Hydrogen, Ethyl Alcohol, Ethylene Oxide, Substitute Natural Gas, Others), By Application; Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Carbon dioxide (CO2) emissions in the U.S. are primarily generated from the combustion of fossil fuels for energy production, transportation, and industrial activities. CO2 is used in enhanced oil recovery (EOR), where it is injected into oil fields to increase extraction efficiency, and in food and beverage carbonation, refrigeration, and fire suppression systems. Additionally, CO2 is crucial in greenhouse agriculture to boost plant growth and in the production of chemicals and fuels through carbon capture and utilization (CCU) technologies.

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The U.S. government is taking several efforts to reduce CO2 emissions, including transitioning to renewable energy, improving energy efficiency, and deploying carbon capture, utilization, and storage (CCUS) systems. These strategies mitigate adverse climate impacts and create economic opportunities in clean energy sectors.

Top of FormU.S. CO2 Market Report Highlights

• In terms of source, the ethyl alcohol segment accounted for 30.55% of the U.S. carbon dioxide (CO2) market share in 2024 due to its extensive role in CO2 generation during the fermentation process in ethanol production facilities.
• The substitute natural gas segment is projected to register a CAGR of 4.60% from 2025 to 2034, owing to rising focus on sustainable and cleaner CO2 sourcing methods.
• Based on application, the oil & gas segment held 66.58% of the U.S. carbon dioxide market share in 2024 due to extensive use of CO2 in enhanced oil recovery (EOR) operations.
• The food & beverages segment is expected to register a CAGR of 4.45% from 2025 to 2034, owing to the rising use of CO2 for carbonation, packaging, and preservation of food.
• A few key market players include Air Liquide USA LLC; Air Products and Chemicals, Inc.; Continental Carbonic Products, Inc.; Greco Gas Inc.; Linde plc; Matheson; Messer Group GmbH; TAIYO NIPPON SANSO CORPORATION; Universal Industrial Gases, Inc.; and Zephyr Solutions, LLC.

Polaris Market Research has segmented the U.S. CO2 market report on the basis of source and application:

By Source Outlook (Revenue, USD Billion, Volume Kiloton, 2020–2034)

• Hydrogen
• Ethyl Alcohol
• Ethylene Oxide
• Substitute Natural Gas
• Others

By Application Outlook (Revenue, USD Billion, Volume Kiloton, 2020–2034)

• Food & Beverages
• Oil & Gas
• Medical
• Rubber
• Firefighting
• Others