Liquid Carbon Dioxide Pricing Report

Liquid Carbon Dioxide Prices December 2023

The price of liquid carbon dioxide in the United States for Q4 2023 reached 660 USD/MT in December. The prices continued to rise due to elevated natural gas prices in the first half of the quarter. Moreover, the increased demand from the carbonated drinks and food packaging sectors significantly impacted the overall price dynamics.

The price for liquid carbon dioxide in Japan reached 240 USD/MT in December 2023. A significant factor influencing the market was the moderate state of the supply chain, characterized by a slowdown in export volumes due to subdued demand both domestically and internationally. Concurrently, the demand for liquid carbon dioxide from the packaging industry and other downstream sectors remained at a moderate level throughout the quarter.

In Belgium, liquid carbon dioxide prices reached 225 USD/MT. The overall operational rate declined, leading to a reduction in production costs. This decrease in replenishing storage facilities reduced the risk of capacity constraints during the winter heating season.  Another contributing factor was the ongoing destocking trend in the Eurozone, which led to a substantial decline in manufacturing activity.

Liquid Carbon Dioxide Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Liquid Carbon Dioxide Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of liquid carbon dioxide pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing liquid carbon dioxide price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Liquid Carbon Dioxide Market Analysis

The global liquid carbon dioxide market size reached 8.4 Million Tonnes in 2023. By 2032, IMARC Group expects the market to reach 13.4 Million Tonnes, at a projected CAGR of 5.30% during 2023-2032.

• Presently, with the growing consciousness among the masses, environmental regulations are becoming stricter, pushing industries to adopt more sustainable practices. Liquid CO₂ plays a crucial role in carbon capture and storage (CCS) technologies, which are essential for reducing greenhouse gas emissions. Besides, governments and environmental agencies worldwide are promoting CCS techniques as part of their efforts to mitigate climate change, driving the demand for liquid CO₂.
• The food and beverage industry is also a significant consumer of liquid CO2 as it utilizes it for carbonation of soft drinks, beers, and sparkling waters. The growing global population and rising consumer demand for convenience foods which is expected to reach US$ 782.7 Billion by 2032, exhibiting a growth rate (CAGR) of 5.47% as stated by the IMARC Group are driving the expansion of the food and beverage sector, thereby increasing the demand for liquid CO2. Liquid CO2 is also used in food processing and preservation techniques, such as chilling and freezing, which require rapid cooling properties to maintain freshness and extend shelf life.
• Moreover, liquid CO₂ is used in the healthcare and pharmaceutical industries for cryotherapy and surgical procedures and for the manufacturing of medicinal products. It is widely used in supercritical CO₂ extraction, a method employed to purify or separate components of medicinal plants. The expansion of the healthcare sector, driven by aging populations and the increasing prevalence of chronic diseases, along with the growing pharmaceutical industry, fuels the demand for high-purity liquid CO2. According to the WORLD HEALTH ORGANIZATION, by 2030, 1 in 6 people in the world will be aged 60 years or over. At this time the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. Moreover, by 2050, the geriatric population aging 60 years and older will double and reach 2.1 billion.

Liquid Carbon Dioxide News

The report covers the latest developments, updates, and trends impacting the global liquid carbon dioxide market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in liquid carbon dioxide production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the liquid carbon dioxide industry:

• In 2023, Air Liquide announced that it will build one of Europe’s largest carbon capture and storage unit at its hydrogen production plant in Rotterdam, the Netherlands, utilizing its Cryocap technology.
• In April 2023, Linde signed a long-term agreement with ExxonMobil for off-take of CO2. As per the agreement, ExxonMobil will transport and store 2.2 million metric tons of CO2 annually from Linde’s hydrogen production plant.

Product Description

Liquid carbon dioxide (CO2) is the condensed form of carbon dioxide gas, made by compressing and cooling it to a temperature below 31.1°C (87.98°F) and a pressure above 5.1 atmospheres (73.8 psi). At standard atmospheric pressure, carbon dioxide undergoes a phase change from gas to liquid at approximately -78.5°C (-109.3°F).

Liquid carbon dioxide is widely used as a refrigerant in the food and beverage industry for freezing and chilling food products such as vegetables, meats, and seafood rapidly and preserving their freshness and quality. Besides, it is used for cleaning and degreasing machinery and equipment in manufacturing operations and removing contaminants from surfaces and components. Moreover, in the medical industry, liquid CO₂ is used for cryotherapy treatments, where it is applied topically to freeze and remove skin lesions, warts, and tumors. Cryotherapy is also utilized in dermatology for cosmetic procedures such as removing age spots, moles, and skin tags.

Regional Coverage

The report provides a detailed analysis of the liquid carbon dioxide market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.

Global Liquid Carbon Dioxide Price

The report offers a holistic view of the global liquid carbon dioxide pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Liquid Carbon Dioxide Price

In the fourth quarter of 2023, the Europe market for liquid carbon dioxide experienced several significant factors that impacted prices. The overall operational rate in the region declined, leading to a reduction in production costs. This decrease in replenishing storage facilities reduced the risk of capacity constraints during the winter heating season.  Another contributing factor was the ongoing destocking trend in the Eurozone, which led to a substantial decline in manufacturing activity.

This analysis can be extended to include detailed liquid carbon dioxide price information for a comprehensive list of countries.

North America Liquid Carbon Dioxide Price

The Liquid carbon dioxide market in North America experienced a mixed trend in the fourth quarter of 2023 (Oct-Dec). The prices continued to rise due to elevated natural gas prices in the first half of the quarter. The increased demand from the carbonated drinks and food packaging sectors significantly impacted the overall price dynamics. However, the market faced challenges due to limited inventories to cater to the domestic demand. There were no reported plant shutdowns during this period.

Specific data on liquid carbon dioxide prices within the United States and Canada can also be provided.

Middle East and Africa Liquid Carbon Dioxide Price

The report explores the liquid carbon dioxide pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on  liquid carbon dioxide prices for countries can also be provided.

Asia Pacific Liquid Carbon Dioxide Price

In the fourth quarter of 2023, the liquid carbon dioxide market in the Asia Pacific region exhibited a southwards performance due to the moderate state of the supply chain, characterized by a slowdown in export volumes due to subdued demand both domestically and internationally. Concurrently, the demand for liquid carbon dioxide from the packaging industry and other downstream sectors remained at a moderate level throughout the quarter.

This analysis can be further extended to include detailed liquid carbon dioxide prices for a comprehensive list of countries within the region.

Latin America Liquid Carbon Dioxide Price

The analysis of liquid carbon dioxide prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of liquid carbon dioxide pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting liquid carbon dioxide price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the liquid carbon dioxide industry.