Advancements in Carbon Capture Technology Fueling Growth in the...

Advancements in Carbon Capture Technology Fueling Growth in the Carbon Capture, Utilization, and Storage Market Globally

نشر بتاريخ 2025-08-21 12:04:17

Global Carbon Capture, Utilization and Storage Market reached US$ 3.0 Billion in 2023 and is expected to reach US$ 16.5 Billion by 2031, growing with a CAGR of 24.0% during the forecast period 2024-2031.

Carbon Capture, Utilization, and Storage (CCUS), also referred to as carbon capture, utilization, and sequestration, is a suite of technologies designed to mitigate climate change by preventing carbon dioxide (CO2) emissions from entering the atmosphere. The process involves three main stages:

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Recent News

July 2025 - U.S. Policy Update: The U.S. Congress is reported to have preserved and increased the 45Q tax credit for carbon capture in a new bill, signaling continued strong government support for the sector.
June/July 2025 - European Developments: The European Commission unveiled a new intermediate climate target proposal and a strategy on industrial carbon management, charting a new path towards 2040 and beyond. This demonstrates a strong political will to integrate CCUS into Europe's decarbonization efforts.
June 2025 - Global Collaboration in Africa: The Global CCS Institute and Al Akhawayn University signed a Memorandum of Understanding (MoU) to advance CCUS in Morocco and the broader African region, highlighting the growing recognition of CCUS as a development path in emerging economies.
May 2025 - New Project Announcements: Numerous new CCUS projects have been announced in various stages of development across the globe, with announced capture capacity for 2030 increasing significantly. This momentum is driven by both governmental and corporate commitments to net-zero goals.

Segmentation

By Service: Capture, Transportation, Utilization, Storage.

By Technology: Pre-combustion capture, Oxy-fuel combustion capture, Post-combustion capture.

By End-User: Oil & gas, Power generation, Iron & steel, Chemical & petrochemical, Cement, Others.

Leading Companies

ExxonMobil Corporation, Schlumberger, Huaneng, Linde AG, Sulzer, Equinor, NRG, Aker Solutions, Mitsubishi Hitachi, Skyonic Corp.

Market Trends

Policy and Incentives: The market is heavily influenced by policy frameworks, such as the Inflation Reduction Act (IRA) in the U.S., which provides enhanced tax credits for CCUS projects. These incentives make projects more economically viable and attract significant private and public investment.
Regional Dominance: North America is currently the largest market, driven by a strong emphasis on curbing emissions and significant government support. Europe is also a major player, with a commitment to achieving carbon neutrality. The Asia-Pacific region is seeing rapid growth due to industrialization and increasing energy demand.
Technological Advancements: Ongoing research and development are making CCUS technologies more cost-effective and efficient. Innovations in capture methods (e.g., chemical looping) and utilization applications are creating new opportunities.

Business Opportunities

Capture Technology Providers: Companies can specialize in designing and manufacturing advanced capture equipment and solutions for various industries, including power generation, cement, steel, and chemicals.
Transport and Storage Infrastructure: There are opportunities in building and operating the necessary infrastructure for CO2 transportation (pipelines, ships) and storage sites (geological formations). This is a particularly attractive area for oil and gas companies with existing expertise and access to suitable geological reservoirs.
CO2 Utilization: Businesses can develop innovative uses for captured CO2. This includes producing building materials, synthetic fuels, and chemicals. Enhanced Oil Recovery (EOR) remains a major utilization opportunity, where injected CO2 increases oil production while also storing the gas.

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Investment Analysis

High Initial Costs: CCUS projects require substantial upfront investment for technology and infrastructure. The capture component alone can account for 50-66% of the total project cost. This high barrier to entry can be a restraint for some companies.
Revenue Models and Subsidies: The profitability of CCUS projects is highly dependent on a viable revenue model. This can be achieved through a combination of revenue from CO2 utilization (e.g., EOR), carbon credit markets, and government subsidies and tax credits (e.g., the 45Q tax credit in the U.S.).

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Summary

The Carbon Capture, Utilization, and Storage (CCUS) market is a rapidly growing sector crucial for global decarbonization efforts. Driven by strong government policies, particularly in North America and Europe, and significant private investment, the market size is projected to more than quadruple by 2030. Key trends include the development of CCUS hubs, advancements in capture technologies, and a growing focus on utilizing captured CO2 for new products. While facing challenges like high initial costs and long project lead times, the market presents significant business opportunities across its value chain, from technology provision to infrastructure development.

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