Carbon Capture, Utilization, and Storage Market by Service, End-use Industry, and Region - Global Forecast to 2025
DUBLIN, Nov. 9, 2020 /PRNewswire/ -- The "Carbon Capture, Utilization, and Storage Market by Service (Capture, Transportation, Utilization, Storage), End-Use Industry (Oil & Gas, Iron & Steel, Cement, Chemical & Petrochemical, Power Generation), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global carbon capture, utilization, and storage market size is expected to grow from USD 1.6 billion in 2020 to USD 3.5 billion by 2025, at a CAGR of 17.0% during the forecast period.
Carbon capture, utilization, and sequestration is extensively used in oil & gas, power generation, fertilizer, and various other sectors. Increasing usage of captured carbon for enhanced oil recovery operations in the oil & gas industry is laying a key role behind the growth of CCUS market.
Capture segment to dominate the market in terms of value.
The Capture segment holds the majority of the share in the CCUS market. Carbon capture is the first stage of the CCUS process and involves capturing CO2 from its emission source. It can be applied to any large-scale emission process, including coal-fired power generation plants; gas and oil production; and manufacturing industries, such as cement, iron, and steel. The cost of capturing CO2 is heavily dependent on technical, economic, and financial factors associated with the design and operation of the production process, along with the design and operation of the CO2 capture technology
Power Generation is the fastest-growing segment in the market in terms of value.
Fossil fuel power plants generate significant amounts of CO2 emissions into the atmosphere, which are believed to be the main cause of climate change. And Power Generation industry is projected to be the fastest-growing segment in the carbon capture, utilization, and sequestration market. Various upcoming CCUS equipped projects in the power generation sector, such as Project TUNDRA (US), Cal Capture Project (US), CLEAN GAS project (UK), and Korea CCS (APAC) are the major driver the behind the high growth in the segment.
Europe is the fastest-growing carbon capture, utilization, and sequestration, in terms of volume.
Europe is projected to be the fastest-growing carbon capture, utilization, and sequestration market during the forecast period. Norway has been very active in curbing carbon emissions since 1990. The upcoming projects in the Netherlands and the UK are also projected to drive the market in the region. Norway Full Chain (Norway), Caledonia Clean (UK), Hynet North West (UK), and Por of Rotterdam (Also known as PORTHOS) (Netherlands) are few projects that are scheduled to start before 2025 an are the major reason behind the high growth of CCUS market in Europe.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities In Carbon Capture, Utilization, And Sequestration Market
4.2 Carbon Capture, Utilization, And Sequestration Market, By Service And Region, 2019
4.3 Carbon Capture, Utilization, And Sequestration Market, By End-Use Industry
4.4 Carbon Capture, Utilization, And Sequestration Market, By Key Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Focus On Reducing Co2 Emissions
5.2.1.2 Government Support
5.2.1.3 Increasing Demand For Co2-Eor Techniques
5.2.2 Restraints
5.2.2.1 High Cost Of Carbon Capture And Sequestration
5.2.2.2 Decreasing Crude Oil Prices
5.2.3 Opportunities
5.2.3.1 Large Number Of Upcoming Projects In APAC
5.2.3.2 Continuous Investments In Developing Innovative Capturing Technologies Enabling Economic Operations
5.2.4 Challenges
5.2.4.1 Reducing Co2 Capturing Costs
5.2.4.2 Safety Concerns At Storage Sites
5.3 Porter's Five Forces Analysis
5.3.1 Threat Of New Entrants
5.3.2 Threat Of Substitutes
5.3.3 Bargaining Power Of Suppliers
5.3.4 Bargaining Power Of Buyers
5.3.5 Intensity Of Competitive Rivalry
5.4 Patent Analysis
5.4.1 Methodology
5.4.2 Document Type
5.4.3 Insight
5.4.4 Top Applicants Of Carbon Capture, Utilization, And Storage
5.5 Technology Analysis
5.6 Supply Chain Analysis
5.7 Covid-19 Impact Analysis
5.8 Pricing Analysis
5.9 Regulatory Landscape
6 Carbon Capture, Utilization, And Sequestration Market, By Service
6.1 Introduction
6.2 Capture
6.2.1 Post Combustion
6.2.1.1 Offers High Co2 Capture Efficiency Of 99%
6.2.2 Oxy-Fuel
6.2.2.1 Simplified Co2 Capture In Comparison To Conventional Processes
6.2.3 Pre Combustion
6.2.3.1 Eliminates Co2 From A Gas Stream Prior To Its Dilution With Air Or Oxygen
6.3 Transportation
6.3.1 Pipelines Extensively Used For Transporting Co2
6.4 Utilization
6.4.1 Growing Usage Of Ccus For Eor Operations
6.5 Storage
6.5.1 Geological Storage
6.5.1.1 Oil & Gas Reservoirs
6.5.1.1.1 Most Efficient Storage Type
6.5.1.2 Unmineable Coal Beds
6.5.1.2.1 Further Research Required To Optimize The Process
6.5.1.3 Saline Aquifers
6.5.1.3.1 Less Knowledge About It Features Compared To Other Storage Types
6.5.2 Deep Ocean Storage
6.5.2.1 Not Preferred Over Geological Storage Due To Associated Environmental Risks
7 Carbon Capture, Utilization, And Sequestration Market, By End-Use Industry
7.1 Introduction
7.2 Oil & Gas
7.2.1 Carbon Capture, Utilization, And Sequestration Market In Oil & Gas, By Region
7.3 Iron & Steel
7.3.1 Carbon Capture, Utilization, And Sequestration Market In Iron & Steel, By Region
7.4 Power Generation
7.4.1 Carbon Capture, Utilization, And Sequestration Market In Power Generation, By Region
7.5 Cement
7.5.1 Carbon Capture, Utilization, And Sequestration Market In Cement, By Region
7.6 Chemical & Petrochemical
7.6.1 Carbon Capture, Utilization, And Sequestration Market In Chemical & Petrochemical, By Region
7.7 Others
7.7.1 Carbon Capture, Utilization, And Sequestration Market In Other End-Use Industries, By Region
8 Carbon Capture, Utilization, And Sequestration Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 Growing Adoption Of Ccus In The Chemical & Petrochemical Industry To Drive The Market
8.2.2 Canada
8.2.2.1 Increasing Focus On Utilization Of Captured Co2
8.3 Europe
8.3.1 France
8.3.1.1 Involved In The Development Of The Eu Ccs Directive
8.3.2 Netherlands
8.3.2.1 Porthos Ccs Projects Pose Market Growth Opportunity
8.3.3 UK
8.3.3.1 Fastest-Growing Market In The World
8.3.4 Italy
8.3.4.1 Holds Potential For Market Growth
8.3.5 Norway
8.3.5.1 Norway Full Chain To Drive The Market In The Country
8.3.6 Rest Of Europe
8.4 APAC
8.4.1 China
8.4.1.1 Maximum Emissions Of Co2 In The World
8.4.2 Japan
8.4.2.1 Home To Leading Companies In The Ccus Ecosystem
8.4.3 India
8.4.3.1 One Of The Largest Emitters Of Co2 In The World
8.4.4 Australia
8.4.4.1 One Of The Most Promising Markets In The World
8.4.5 Rest Of APAC
8.5 MEA
8.5.1 UAE
8.5.1.1 Home To The World'S Largest Iron & Steel Ccs Project
8.5.2 Saudi Arabia
8.5.2.1 Government Supporting The Implementation Of Ccs
8.5.3 Rest Of MEA
8.6 Latin America
8.6.1 Brazil
8.6.1.1 Petrobras Ccs Facility Driving The Market
9 Competitive Landscape
9.1 Introduction
9.2 Competitive Leadership Mapping
9.2.1 Star
9.2.2 Pervasive
9.2.3 Participants
9.2.4 Emerging Leaders
9.3 Competitive Leadership Mapping (Startups/Smes)
9.3.1 Star
9.3.2 Emerging Leaders
9.3.3 Pervasive
9.3.4 Participants
9.4 Strength Of Product Portfolio
9.5 Business Strategy Excellence
9.6 Market Share Analysis
9.7 Revenue Analysis Of Top Market Players
9.8 Competitive Scenario
9.8.1 Expansion
9.8.2 Agreement
9.8.3 Acquisition
9.8.4 Product Launch/Technology Launch
9.8.5 Partnership
9.8.6 Joint Venture
9.8.7 Collaboration
9.8.8 Contract
10 Company Profiles
10.1 Royal Dutch Shell Plc
10.2 Fluor Corporation
10.3 Mitsubishi Heavy Industries, Ltd.
10.4 Linde Plc
10.5 Exxon Mobil Corporation
10.6 JGC Holdings Corporation
10.7 Schlumberger Limited
10.8 Aker Solutions
10.9 Honeywell International Inc.
10.10 Halliburton
10.11 Hitachi, Ltd.
10.12 Siemens AG
10.13 General Electric
10.14 Total S.A.
10.15 Equinor ASA
10.16 Others
10.16.1 C - Capture Ltd.
10.16.2 Tandem Technical
10.16.3 Carbicrete
10.16.4 Climeworks Ag
10.16.5 Carbon Clean
10.16.6 Newlight Technologies, Inc.
10.16.7 Electrochaea Gmbh
10.16.8 Carbonfree Chemicals
10.16.9 Carbon Engineering, Ltd.
10.16.10 Green Minerals
11 Appendix
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