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Carbon Capture, Utilization & Storage Technologies- Product Image
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Carbon Capture, Utilization & Storage Technologies

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  • 178 Pages
  • February 2025
  • Region: Global
  • BCC Research
  • ID: 5213902
Description Jump to:
The Carbon Capture, Utilization & Storage Technologies Market was valued at USD 3.4 Billion in 2024, and is projected to reach USD 9.6 Billion by 2029, rising at a CAGR of 23.10%. Carbon dioxide sequestration involves capturing carbon dioxide through chemical reactions (utilization) or underground storage in deep geologic storage and saline formations. This entire process, starting from capturing CO2 to its permanent storage or storage for future use, is termed carbon capture, utilization, and storage (CCUS). Industries, including manufacturing and processing, are the foundation for every nation's economic growth. Thus, they are the core of the global efforts towards clean energy transition. Industrial emissions from both process- and energy-intensive activities are often difficult to tackle. Therefore, a comprehensive carbon reduction strategy is necessary to support the transition towards carbon neutrality and a sustainable future. CCUS technologies offer a significant solution to mitigate these emissions and support the decarbonization of heavy industries.

Developed countries with high industrialization growth generate the majority of GHG emissions. This has created a significant carbon debt that needs to be addressed. The rapid economic growth in developing countries in the Asia-Pacific and Middle East and African (MEA) regions have led to a surge in their carbon emissions. This is primarily due to increased industrial activity, often relying on fossil fuels, growing energy demand for both industrial and residential purposes, and deforestation and unsustainable land-use practices. According to the UN Conference on Trade and Development, three countries - China, the U.S., and India - account for more than 50% of carbon dioxide emissions, and 20 countries account for 80% of the global emissions.

Report Scope

This report analyzes the global market for CCUS technologies and its market dynamics. The market size has been provided in value ($ millions) and volume (thousand tons). All tons in this report are metric tons, or MTs (2,205 lbs.), not U.S. tons (2,000 lbs.) unless otherwise noted. The British spelling “tonne” is not used in this report. The report includes a discussion of the technological, competitive and economic trends affecting the market.

The report briefly covers CCUS technology segments. The global CCUS technologies market has been analyzed by technology, services, industry and region. The report concludes with profiles of 15 companies operating in the global CCUS technologies market.

The report includes:

  • 67 data tables and 69 additional tables
  • An updated overview of the global market for carbon capture, utilization, and storage (CCUS) technologies
  • Analyses of the global market trends, with sales data for 2023, estimates for 2024, forecasts for 2025, 2027, and projections of compound annual growth rates (CAGRs) through 2029
  • Identification of key market dynamics, trends, opportunities and factors influencing the global CCUS technologies market and its subsegments
  • Highlights of the market potential for CCUS technologies market on the basis of technologies, industry, service and region
  • Description of CCUS value chain, climate policies and regulation of the industry
  • Discussion on importance of carbon capture technologies for achieving climate objectives, and widening the portfolio of low-carbon power sources, and information on Net-Zero and Negative Emissions
  • A discussion on ESG challenges and practices of the industry
  • Insights into the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
  • Evaluation of the companies best positioned to meet the current and future demand of carbon, capture utilization and storage technologies owing to their proprietary technologies, strategic alliances, or other advantages
  • Company profiles of the market leading participants, including Air Liquide, Aker Carbon Capture, BASF SE, ExxonMobil Corp., and Fluor Corp.

Table of Contents

Chapter 1 Executive Summary
  • Market Outlook
  • Scope of Report
  • Market Summary
Chapter 2 Market Overview
  • Overview
  • Porter’s Five Forces Analysis
  • Bargaining Power of Buyers
  • Bargaining Power of Suppliers
  • Potential for New Entrants
  • Threat of Substitutes
  • Competition in the Industry
  • Value Chain Analysis: CCUS Technologies Market
  • Overview
  • Full-chain Business Model
  • Partial-chain Business Model
  • CO2 Capture-as-a-Service Business Model
  • SWOT Analysis: CCUS Technologies Market
  • Climate Change Policies and Regulations
  • Carbon Pricing
  • Paris Agreement
  • U.S.
  • Europe
  • Canada
  • China
Chapter 3 Market Dynamics
  • Market Dynamics Snapshot
  • Market Drivers
  • Demand for Carbon-neutral Products
  • Rise of CCUS Hubs
  • Increased Focus on Carbon Dioxide Removal Credits
  • Increasing CCUS Demand in EOR Operations
  • Market Challenges
  • Shutdowns Due to Costs, Technical Failures
  • Low Utilization Rates
  • Market Opportunities
  • Renewed Momentum of CCUS Projects
  • Geographic Distribution of CCUS Projects
  • Synergies with CDR Technologies
  • Market Restraints
  • Public Resistance to CCUS Technologies
Chapter 4 Emerging Technologies and Developments
  • Overview
  • Advanced Membrane Technologies
  • Mixed Matrix Membranes
  • Metal-organic Frameworks
  • Molten Carbonate Fuel Cells
Chapter 5 Market Segment Analysis
  • Segmentation Breakdown
  • Market Analysis by Technology
  • Pre-combustion Technology
  • Post-combustion Technology
  • Oxy-fuel Combustion Technology
  • Market Analysis by Service
  • Market Analysis by Industry
  • Oil and Gas
  • Power Generation
  • Chemicals and Petrochemicals
  • Other Industries
  • Geographic Breakdown
  • Market Analysis by Region
  • North America
  • South America
  • Asia-Pacific (APAC)
  • Middle East and Africa (MEA)
  • Europe
Chapter 6 Competitive Intelligence
  • Overview
  • Case Studies
Chapter 7 Appendix
  • Methodology
  • Information Sources
  • References
  • Abbreviations Used in the Report
  • Company Profiles
  • AIR LIQUIDE
  • AKER CARBON CAPTURE ASA
  • BASF SE
  • EXXON MOBIL CORP.
  • FLUOR CORP.
  • GE VERNOVA
  • HONEYWELL INTERNATIONAL INC.
  • LINDE PLC.
  • MITSUBISHI HEAVY INDUSTRIES LTD.
  • SFW
  • SHELL PLC.
  • SIEMENS ENERGY
  • SVANTE TECHNOLOGIES INC.
  • TOSHIBA CORP.
  • TOTALENERGIES
List of Tables
Summary Table: Global Market for CCUS Technologies, by Region, Through 2029
Table 1: Global Market for CCUS Technologies, Through 2029
Table 2: Carbon Taxes, by Region, 2023
Table 3: Comparison of Membrane Types for Carbon Capture
Table 4: Global Market for CCUS Technologies, by Technology, Through 2029
Table 5: Global Market Volume for CCUS Technologies, by Technology, Through 2029
Table 6: Global Market for Pre-combustion CCUS Technologies, by Region, Through 2029
Table 7: Global Market Volume for Pre-combustion CCUS Technologies, by Region, Through 2029
Table 8: Pre-combustion-based Operational CCUS Facilities
Table 9: Comparison of Post-combustion CCUS Projects
Table 10: Post-combustion-based Operational CCUS Facilities
Table 11: Global Market for Post-combustion CCUS Technologies, by Region, Through 2029
Table 12: Global Market Volume for Post-combustion CCUS Technologies, by Region, Through 2029
Table 13: Providers of Post-Combustion Carbon Capture Technologies
Table 14: Global Market for Oxy-fuel Combustion CCUS Technologies, by Region, Through 2029
Table 15: Global Market Volume for Oxy-fuel Combustion CCUS Technologies, by Region, Through 2029
Table 16: Operational CCUS Transport and Storage Projects
Table 17: Carbon Storage Service Providers and Technologies
Table 18: Carbon Transportation Service Providers and Technologies
Table 19: Global Market for CCUS Technologies, by Service, Through 2029
Table 20: Global Market for CCUS Technologies for Carbon Capture, by Region, Through 2029
Table 21: Global Market for CCUS Technologies for Transportation, by Region, Through 2029
Table 22: Global Market for CCUS Technologies for Storage and Utilization, by Region, Through 2029
Table 23: Global Market for CCUS Technologies, by Industry, Through 2029
Table 24: Global Market Volume for CCUS Technologies, by Industry, Through 2029
Table 25: Commercial Solvents Used for the Removal of CO2 from Natural Gas
Table 26: Largest Operational CCUS Projects in Oil and Gas Industry
Table 27: Global Market for CCUS Technologies for Oil and Gas, by Region, Through 2029
Table 28: Global Market Volume for CCUS Technologies for O&G, by Region, Through 2029
Table 29: Global Market for CCUS Technologies for Power Generation, by Region, Through 2029
Table 30: Global Market Volume for CCUS Technologies for Power Generation, by Region, Through 2029
Table 31: Global Market for CCUS Technologies for Chemicals and Petrochemicals, by Region, Through 2029
Table 32: Global Market Volume for CCUS Technologies for Chemicals and Petrochemicals, by Region, Through 2029
Table 33: Global Market for CCUS Technologies for Other Industries, by Region, Through 2029
Table 34: Global Market Volume for CCUS Technologies for Other Industries, by Region, Through 2029
Table 35: Global Market for CCUS Technologies, by Region, Through 2029
Table 36: Global Market Volume for CCUS Technologies, by Region, Through 2029
Table 37: Strategic Developments in North America, 2023 and 2024
Table 38: North American Market for CCUS Technologies, by Technology, Through 2029
Table 39: North American Market Volume for CCUS Technologies, by Technology, Through 2029
Table 40: North American Market for CCUS Technologies, by Service, Through 2029
Table 41: North American Market for CCUS Technologies, by Industry, Through 2029
Table 42: North American Market Volume for CCUS Technologies, by Industry, Through 2029
Table 43: North American Market for CCUS Technologies, by Country, Through 2029
Table 44: North American Market Volume for CCUS Technologies, by Country, Through 2029
Table 45: Operational CCUS Facilities in North America
Table 46: Strategic Developments in South America, 2023 and 2024
Table 47: South American Market for CCUS Technologies, by Technology, Through 2029
Table 48: South American Market Volume for CCUS Technologies, by Technology, Through 2029
Table 49: South American Market for CCUS Technologies, by Service, Through 2029
Table 50: South American Market for CCUS Technologies, by Industry, Through 2029
Table 51: South American Market Volume for CCUS Technologies, by Industry, Through 2029
Table 52: Operational CCUS Facilities in South America
Table 53: APAC Strategic Developments, 2023 and 2024
Table 54: APAC Market for CCUS Technologies, by Technology, Through 2029
Table 55: APAC Market Volume for CCUS Technologies, by Technology, Through 2029
Table 56: APAC Market for CCUS Technologies, by Service, Through 2029
Table 57: APAC Market for CCUS Technologies, by Industry, Through 2029
Table 58: APAC Market Volume for CCUS Technologies, by Industry, Through 2029
Table 59: Operational CCUS Facilities in APAC
Table 60: Strategic Developments in MEA, 2023 and 2024
Table 61: MEA Market for CCUS Technologies, by Technology, Through 2029
Table 62: MEA Market Volume for CCUS Technologies, by Technology, Through 2029
Table 63: MEA Market for CCUS Technologies, by Service, Through 2029
Table 64: MEA Market for CCUS Technologies, by Industry, Through 2029
Table 65: MEA Market Volume for CCUS Technologies, by Industry, Through 2029
Table 66: Operational CCUS Facilities in MEA
Table 67: Strategic Developments in the European Market, 2023 and 2024
Table 68: European Market for CCUS Technologies, by Technology, Through 2029
Table 69: European Market Volume for CCUS Technologies, by Technology, Through 2029
Table 70: European Market for CCUS Technologies, by Service, Through 2029
Table 71: European Market for CCUS Technologies, by Industry, Through 2029
Table 72: European Market Volume for CCUS Technologies, by Industry, Through 2029
Table 73: Operational CCUS Facilities in Europe
Table 74: Providers of Solvents and Adsorbents Technologies
Table 75: Carbon Separation Technology Developers and Suppliers
Table 76: Carbon Capture Technology Providers
Table 77: Abbreviations Used in This Report
Table 78: Air Liquide: Company Snapshot
Table 79: Air Liquide: Financial Performance, FY 2022 and 2023
Table 80: Air Liquide: Product Portfolio
Table 81: Air Liquide: News/Key Developments, 2023 and 2024
Table 82: Aker Carbon Capture ASA: Company Snapshot
Table 83: Aker Carbon Capture ASA: Financial Performance, FY 2022 and 2023
Table 84: Aker Carbon Capture ASA: Product Portfolio
Table 85: Aker Carbon Capture ASA: News/Key Developments, 2024
Table 86: BASF SE: Company Snapshot
Table 87: BASF SE: Financial Performance, FY 2022 and 2023
Table 88: BASF SE: Product Portfolio
Table 89: BASF SE: News/Key Developments, 2022-2024
Table 90: Exxon Mobil Corp.: Company Snapshot
Table 91: Exxon Mobil Corp.: Financial Performance, FY 2022 and 2023
Table 92: Exxon Mobil Corp.: Product Portfolio
Table 93: Exxon Mobil Corp.: News/Key Developments, 2023 and 2024
Table 94: Fluor Corp.: Company Snapshot
Table 95: Fluor Corp.: Financial Performance, FY 2022 and 2023
Table 96: Fluor Corp.: Product Portfolio
Table 97: Fluor Corp.: News/Key Developments, 2023 and 2024
Table 98: GE Vernova: Company Snapshot
Table 99: GE Vernova: Financial Performance, FY 2022 and 2023
Table 100: GE Vernova: Product Portfolio
Table 101: GE Vernova: News/Key Developments, 2023 and 2024
Table 102: Honeywell International Inc.: Company Snapshot
Table 103: Honeywell International Inc.: Financial Performance, FY 2022 and 2023
Table 104: Honeywell International Inc.: Product Portfolio
Table 105: Honeywell International Inc.: News/Key Developments, 2023 and 2024
Table 106: Linde PLC.: Company Snapshot
Table 107: Linde PLC.: Financial Performance, FY 2022 and 2023
Table 108: Linde PLC.: Product Portfolio
Table 109: Linde PLC.: News/Key Developments, 2024
Table 110: Mitsubishi Heavy Industries Ltd.: Company Snapshot
Table 111: Mitsubishi Heavy Industries Ltd.: Financial Performance, FY 2022 and 2023
Table 112: Mitsubishi Heavy Industries Ltd.: Product Portfolio
Table 113: Mitsubishi Heavy Industries Ltd.: News/Key Developments, 2022-2024
Table 114: SFW: Company Snapshot
Table 115: SFW: Product Portfolio
Table 116: SFW: News/Key Developments, 2023 and 2024
Table 117: Shell plc.: Company Snapshot
Table 118: Shell plc.: Financial Performance, FY 2022 and 2023
Table 119: Shell plc.: Product Portfolio
Table 120: Shell plc.: News/Key Developments, 2022-2024
Table 121: Siemens Energy: Company Snapshot
Table 122: Siemens Energy: Financial Performance, FY 2022 and 2023
Table 123: Siemens Energy: Product Portfolio
Table 124: Siemens Energy: News/Key Developments, 2022-2024
Table 125: Svante Technologies Inc.: Company Snapshot
Table 126: Svante Technologies Inc.: Product Portfolio
Table 127: Svante Technologies Inc.: News/Key Developments, 2023 and 2024
Table 128: Toshiba Corp: Company Snapshot
Table 129: Toshiba Corp: Financial Performance, FY 2021 and 2022
Table 130: Toshiba Corp: Product Portfolio
Table 131: Toshiba Corp: News/Key Developments, 2023 and 2024
Table 132: TotalEnergies: Company Snapshot
Table 133: TotalEnergies: Financial Performance, FY 2022 and 2023
Table 134: TotalEnergies: Product Portfolio
Table 135: TotalEnergies: News/Key Developments, 2023 and 2024
List of Figures
Summary Figure: Global Market for CCUS Technologies, by Region, 2023-2029
Figure 1: CCUS Schematic Diagram
Figure 2: Porter’s Five Forces Analysis of CCUS Technologies Market
Figure 3: Value Chain Analysis of CCUS Technologies Market
Figure 4: Full-chain Business Model of CCUS Technologies Market
Figure 5: Single Hub/Hub-cluster Business Model in CCUS Technologies Market
Figure 6: Offshore CO2 Transport Business Model in CCUS Technologies Market
Figure 7: Free Market (Mixed Hub) Business Model of CCUS Technologies Market
Figure 8: SWOT Analysis: CCUS Technologies Market
Figure 9: Energy-Related CO2 Emissions, 2021-2023
Figure 10: CCUS Market Dynamics
Figure 11: Schematic Representation of an MCFC
Figure 12: CCS Technologies
Figure 13: Global Market Shares of CCUS Technologies, by Technology, 2023
Figure 14: Global Market Volume Shares of CCUS Technologies, by Technology, 2023
Figure 15: Schematic Diagram of Pre-combustion Carbon Capture Technology
Figure 16: Global Market Shares of Pre-combustion CCUS Technologies, by Region, 2023
Figure 17: Global Market Volume Shares of Pre-combustion CCUS Technologies, by Region, 2023
Figure 18: Schematic Diagram of Post-combustion Carbon Capture Technology
Figure 19: Global Market Shares of Post-combustion CCUS Technologies, by Region, 2023
Figure 20: Global Market Volume Shares of Post-combustion CCUS Technologies, by Region, 2023
Figure 21: Schematic Diagram of Oxy-fuel Combustion Technology
Figure 22: Global Market Shares of Oxy-fuel Combustion CCUS Technologies, by Region, 2023
Figure 23: Global Market Volume Shares of Oxy-fuel Combustion CCUS Technologies, by Region, 2023
Figure 24: Global Market Shares of CCUS Technologies, by Service, 2023
Figure 25: Global Market Shares of CCUS Technologies, by Service, 2023
Figure 26: Global Market Shares of CCUS Technologies for Transportation, by Region, 2023
Figure 27: Global Market Shares of CCUS Technologies for Storage and Utilization, by Region, 2023
Figure 28: Global Market Shares of CCUS Technologies, by Industry, 2023
Figure 29: Global Market Volume Shares of CCUS Technologies, by Industry, 2023
Figure 30: Global Market Shares of CCUS Technologies for Oil and Gas, by Region, 2023
Figure 31: Global Market Volume Shares of CCUS Technologies for O&G, by Region, 2023
Figure 32: Global Market Shares of CCUS Technologies for Power Generation, by Region, 2023
Figure 33: Global Market Volume Shares of CCUS Technologies for Power Generation, by Region, 2023
Figure 34: Global Market Shares of CCUS Technologies for Chemicals and Petrochemicals, by Region, 2023
Figure 35: Global Market Volume Shares of CCUS Technologies for Chemicals and Petrochemicals, by Region, 2023
Figure 36: Global Market Shares of CCUS Technologies for Other Industries, by Region, 2023
Figure 37: Global Market Volume Shares of CCUS Technologies for Other Industries, by Region, 2023
Figure 38: Global Market Shares of CCUS Technologies, by Region, 2023
Figure 39: Global Market Volume Shares of CCUS Technologies, by Region, 2023
Figure 40: North American Market Shares of CCUS Technologies, by Technology, 2023
Figure 41: North American Market Volume Shares of CCUS Technologies, by Technology, 2023
Figure 42: North American Market Shares of CCUS Technologies, by Service, 2023
Figure 43: North American Market Shares of CCUS Technologies, by Industry, 2023
Figure 44: North American Market Volume Shares of CCUS Technologies, by Industry, 2023
Figure 45: North American Market Shares of CCUS Technologies, by Country, 2023
Figure 46: North American Market Volume Shares of CCUS Technologies, by Country, 2023
Figure 47: South American Market Shares of CCUS Technologies, by Technology, 2023
Figure 48: South American Market Volume Shares of CCUS Technologies, by Technology, 2023
Figure 49: South American Market Shares of CCUS Technologies, by Service, 2023
Figure 50: APAC Market Shares of CCUS Technologies, by Technology, 2023
Figure 51: APAC Market Volume Shares of CCUS Technologies, by Technology, 2023
Figure 52: APAC Market Shares of CCUS Technologies, by Service, 2023
Figure 53: APAC Market Shares of CCUS Technologies, by Industry, 2023
Figure 54: APAC Market Volume Shares of CCUS Technologies, by Industry, 2023
Figure 55: MEA Market Shares of CCUS Technologies, by Technology, 2023
Figure 56: MEA Market Volume Shares of CCUS Technologies, by Technology, 2023
Figure 57: MEA Market Shares of CCUS Technologies, by Service, 2023
Figure 58: MEA Market Shares of CCUS Technologies, by Industry, 2023
Figure 59: MEA Market Volume Shares of CCUS Technologies, by Industry, 2023
Figure 60: European Market Shares of CCUS Technologies, by Technology, 2023
Figure 61: European Market Volume Shares of CCUS Technologies, by Technology, 2023
Figure 62: European Market Shares of CCUS Technologies, by Service, 2023
Figure 63: European Market Shares of CCUS Technologies, by Industry, 2023
Figure 64: European Market Volume Shares of CCUS Technologies, by Industry, 2023
Figure 65: Research Methodology
Figure 66: Air Liquide: Revenue Shares, by Business Unit, FY 2023
Figure 67: Air Liquide: Gas & Service Segment Revenue Shares, by Country/Region, FY 2023
Figure 68: Aker Carbon Capture ASA: Revenue Shares, by Business Unit, FY 2023
Figure 69: Aker Carbon Capture ASA: Revenue Shares, by Country/Region, FY 2023
Figure 70: BASF SE: Revenue Shares, by Business Unit, FY 2023
Figure 71: BASF SE: Revenue Shares, by Country/Region, FY 2023
Figure 72: Exxon Mobil Corp.: Revenue Shares, by Business Unit, FY 2023
Figure 73: Exxon Mobil Corp.: Revenue Shares, by Country/Region, FY 2023
Figure 74: Fluor Corp.: Revenue Shares, by Business Unit, FY 2023
Figure 75: Fluor Corp.: Revenue Shares, by Country/Region, FY 2023
Figure 76: GE Vernova: Revenue Shares, by Business Unit, FY 2023
Figure 77: GE Vernova: Revenue Shares, by Region, FY 2023
Figure 78: Honeywell International Inc.: Revenue Shares, by Business Unit, FY 2023
Figure 79: Honeywell International Inc.: Revenue Shares, by Country/Region, FY 2023
Figure 80: Linde PLC.: Revenue Shares, by Business Unit, FY 2023
Figure 81: Linde PLC.: Revenue Shares, by Country/Region, FY 2023
Figure 82: Mitsubishi Heavy Industries Ltd.: Revenue Shares, by Business Segment, FY 2023
Figure 83: Mitsubishi Heavy Industries Ltd.: Revenue Shares, by Country/Region, FY 2023
Figure 84: Shell plc.: Revenue Shares, by Business Unit, FY 2023
Figure 85: Shell plc.: Revenue Shares, by Country/Region, FY 2023
Figure 86: Siemens Energy: Revenue Shares, by Business Unit, FY 2023
Figure 87: Siemens Energy: Revenue Shares, by Country/Region, FY 2023
Figure 88: Toshiba Corp: Revenue Shares, by Business Unit, FY 2022
Figure 89: Toshiba Corp: Revenue Shares, by Country/Region, FY 2022
Figure 90: TotalEnergies: Revenue Shares, by Business Unit, FY 2023
Figure 91: TotalEnergies: Revenue Shares, by Country/Region, FY 2023

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Executive Summary

CO2 sequestration can be defined as the segregation of CO2, either chemically, as in chemical utilization, or physically, as in geologic storage. The integrated process from capture to sequestration is defined as carbon capture, utilization and storage (CCUS). For both the power sector and industry, carbon capture is the only large-scale option available to reduce emissions at relatively low cost while preserving the value of fossil fuel reserves and existing infrastructures. For CCUS to contribute significantly to the mitigation of CO2 emissions, it would be necessary to implement thousands of large-scale CCUS projects worldwide over the coming decades, which would require a joint and dedicated effort from industry and policymakers.

National demonstration programs are an essential driver of the development of new technologies. In terms of the number of large demonstration projects, the leading countries are the U.S., U.K. and China, where numerous projects have been reported. In other countries, such as Australia, and European countries, a number of ambitious projects have been developed in the past years but have been since cancelled or face serious delays.

According to IEA, in the past ten years, around $15 billion capital has been invested in the 15 large-scale CCUS projects that have been commissioned as well as the Kemper County CCUS facility, which was abandoned in 2017. This capital investment was supported by approximately $2.8 billion in public grant funding. Moreover, in 2020, governments of different countries along with related industries have announced to invest more than $25 billion in CCUS projects and programs.

Based on the large CCUS plants and projects that we have identified worldwide, we expect the combined CO2 capture capacity based on post-combustion, pre-combustion and oxy-fuel combustion to dominate in 2020 in terms of volume captured. We differentiate between the three main capture systems that can be integrated in both power plants and industrial plants and the inherent capture of CO2 that occurs in industrial processes such as in the gas processing or biofuel sector.

While considerable R&D efforts are being made to develop new pathways for converting CO2 to useful products, these emerging applications are still mostly being tested at the laboratory or pilot scale. However, Chinese companies have already started to commercialize CO2-based polymers, thus overtaking Western companies that have been doing extensive research in this field for years.

Despite the many developments being made, CCUS technology has not reached its optimum level. While its importance in terms of helping organizations and governments reach climate goals was recognized long ago, its deployment has been very slow.

Companies Mentioned

  • Air Liquide
  • Aker Carbon Capture ASA
  • BASF SE
  • ExxonMobil Corp.
  • Fluor Corp.
  • GE Vernova
  • Honeywell International Inc.
  • Linde PLC
  • Mitsubishi Heavy Industries Ltd.
  • SFW
  • Shell PLC
  • Siemens Energy
  • Svante Technologies Inc.
  • Toshiba Corp.
  • TotalEnergies

Table Information

Report AttributeDetails
No. of Pages178
PublishedFebruary 2025
Forecast Period2024 - 2029
Estimated Market Value ( USD ) in 2024 $ 3.4 Billion
Forecasted Market Value ( USD ) by 2029 $ 9.6 Billion
Compound Annual Growth Rate23.1%
Regions CoveredGlobal
No. of Companies Mentioned15

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