How the Carbon Capture, Utilization, And Storage Market Will Grow: Key Trends, Market Size, and Opportunities Beyond 2025
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Major Innovations Are Driving the Accelerated Growth of the Carbon Capture, Utilization, And Storage Market?
The escalation in industrial pollution is predicted to fuel the carbon capture, utilization, and storage (CCUS) market in the future. Industrial pollution implies the dispersal of contaminants, encompassing greenhouse gases, particulates, and volatile organic compounds from manufacturing and production activities. The mounting global demand for products, the rise in industrial operations, and the inadequate implementation of eco-friendly technologies contribute to the surge of industrial pollution. CCUS technology is used in various industries to detain and conceal CO2 emissions, thereby reducing their ecological footprint and ensuring adherence to regulatory norms. For example, as per the information from Earth System Science Data (ESSD) Copernicus, a German multi-disciplinary journal, in December 2023, global fossil CO2 emissions including those from cement carbonation, are estimated to witness an increase of 1.1% in 2023 as compared to 2022, reaching 10.0 Gt C per year (36.8 Gt CO2 per year). It is also anticipated that emissions from coal, oil, and gas will surpass their levels in 2022, by an increase of 1.1%, 1.5%, and 0.5% respectively. Consequently, the rise in industrial pollution is set to spur the expansion of the carbon capture, utilization, and storage market.
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#What Are the Key Projections for the CAGR of the Carbon Capture, Utilization, And Storage Market From 2025 to 2034?
The market size for carbon capture, utilization, and storage has seen swift expansion in the past years. The market value is projected to escalate from $2.78 billion in 2024 to $3.11 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.8%. This growth during the historical period can be credited to robust economic expansion in the emerging markets, heightened emphasis on decreasing carbon dioxide (CO2) emissions, a surge in demand from the medical sector, and an increased requirement for energy consumption.
The sector of carbon capture, utilization, and storage is predicted to experience a swift expansion in the coming years, with the market value projected to reach $5.33 billion in 2029. This corresponds to a compound annual growth rate (CAGR) of 14.4%. The escalation during the forecasted timeframe can be ascribed to the lucrative financial prospects offered by carbon capture, pro-active governmental programs, an uptick in capital inflow, a rising demand from the oil and gas sector, and the application of cop26 to control global warming. Key trends for the forecast period involve concentrating on supplying greenhouses, investing in AI-based technologies to foster innovation, strategic investment to maintain competitiveness in the market, forming collaborations and acquiring other businesses and manufacturers, and the emphasis on direct air capture technologies to enhance efficiency in capturing carbon.
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What Are the Most Significant Market Trends Transforming theCarbon Capture, Utilization, And Storage Market?
Major companies in the carbon capture, utilization, and storage market are striving to improve their brand credibility and prove their commitment to sustainability through technological advancements, specifically direct air capture (DAC) technologies. DAC technologies capture carbon dioxide straight from the surrounding air through chemical processes, enabling its storage or use afterwards. For instance, in March 2024, ZeoDAC, an American technology firm dedicated to creating innovative solutions, rolled out a groundbreaking carbon capture technology that uses sophisticated solid materials, notably high-performance zeolites, to effectively extract carbon dioxide from the atmosphere. Their technology utilizes a temperature-vacuum swing adsorption process to enable quick scaling and efficient carbon capture. Furthermore, ZeoDAC’s system can also capture water, leading to the creation of valuable by-products, generating economic gains and offering ecological improvements.
What Are the Top Market Players Propelling the Growth of theCarbon Capture, Utilization, And Storage Industry?
Major companies operating in the carbon capture, utilization, and storage market include Shell plc, Aker Solutions, Linde PLC, Fluor Corporation, Mitsubishi Heavy Industries Ltd, Carbon Engineering Ltd, Schlumberger Limited, Exxon Mobil Corporation, GC Holdings Corporation, Praxair Inc, NGK Spark Plug Co Ltd, Taiyo Nippon Sanso, Oxair, Air Products and Chemicals Inc, Yingde Gas Group Co. Ltd, Messer Group, Core Industrial Gases, Supagas, AMCS Corporation, Sinopec Qilu-Shengli Oilfield CCUS, Equinor Total Energies, Lukoil, Polish Energy Group, Zeroco2, Terrasigna, NRG Energy, General Electric, Honeywell, Dakota Gasification Company, Chevron, Lanzatech, WIKA Alexander Wiegand SE & Co. KG, Gulf Cryo, Buzwair, Sasol, Air Liquide, Gas Africa Limited, Carbacid Investments Limited, Afrox.
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Which Primary Segments of the Carbon Capture, Utilization, And Storage Market Are Driving Growth and Industry Transformations?
The carbon capture, utilization, and storage market covered in this report is segmented –
1) By Technology: Pre Combustion, Post Combustion, Oxy Fuel Combustion
2) By Services: Capture, Transportation, Utilization, Storage.
3) By End-Use Industry: Oil And Gas, Power Generation, Iron And Steel, Chemical And Petrochemical, Cement, Other End-Use Industries.
Subsegments:
1) By Pre-Combustion: Gasification, Reforming Processes (Steam Methane Reforming), Chemical Looping
2) By Post-Combustion: Amine Absorption, Membrane Separation, Adsorption Techniques
3) By Oxy-Fuel Combustion: Oxy-Fuel Power Generation Systems, Oxygen Production Technologies, Flue Gas Recirculation Systems
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Which Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Carbon Capture, Utilization, And Storage Market?# Market?
North America was the largest region in the carbon capture, utilization, and storage market in 2024. The regions covered in the carbon capture, utilization, and storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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