Carbon Capture, Utilization & Storage Technologies

Seismic Survey Market Research Report by Technology, by Service, by Deployment - Global Forecast to 2025

New York, Dec. 07, 2020 (GLOBE NEWSWIRE) — announces the release of the report “Carbon Capture, Utilization & Storage Technologies” –

The report includes discussion of technological factors, competitive factors and economic trends affecting the market. Furthermore, it explains the major drivers and regional dynamics of the global carbon, capture utilization and storage technology market and current trends within the industry.

The report covers carbon, capture utilization and storage technology segments in brief.The global market for carbon, capture utilization and storage technologies has been analyzed in terms of technologies, source, applications, service, country and region.

The report concludes with detailed profiles of major vendors in the global carbon, capture utilization and storage technology market.The analyst examined key categories and regions of the carbon, capture utilization and storage technology market and forecasted market growth from 2020 to 2025.

The global market size estimates are provided both value ($ million) and in volume (million metric ton). 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.

Report Includes:
– 129 data tables and 22 additional tables
– An updated overview of the global market for carbon capture, utilization and storage (CCUS) technologies
– Analyses of the global market trends, with data from 2019, estimates from 2020 to 2024, and projections of compound annual growth rates (CAGRs) through 2025
– Identification of key market dynamics, trends, opportunities, and factors influencing the global carbon, capture utilization & storage technologies market and its sub-segments
– Estimation of the actual market size and revenue forecasts for overall carbon, capture utilization & storage technologies market in global and deep dive into the data on the basis of technologies, source, applications, service, and country
– Insight 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 BASF SE, Carbon8, Empower Materials, Liquid Light Inc., Oakbio, Pioneer Energy and Solidia Technologies.

CO2 sequestration can be defined as the segregation of CO2, either chemically, such as in chemical utilization, or physically, such as in geologic storage.The integrated concept 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 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 largescale 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. 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 the International Energy Agency (IEA) (2013), spending on CCUS demonstration projects in the past five years exceeded $10 billion, of which one-quarter was funded by governments, mostly in the U.S. and Canada. According to our research, China should also play a leading role in the development of carbon capture, with a high number of projects expected to come on-stream in the next five years.

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.

As of 2020, CO2 captured through inherent separation accounts for the largest volume by far and is used for a wide range of applications, from food and beverage to enhanced oil recovery (EOR).

Combined CO2 capture capacities for EOR and geological storage are expected to increase by REDACTED from 2020 to 2025. While major CO2 capacities are currently dedicated to EOR activities, the CO2 supply for geological storage is expected to increase in the upcoming years, growing on average by approximately REDACTED annually.

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 researching extensively in this field for years.
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