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Carbon Capture and Storage - Global Market Trajectory & Analytics

  • ID: 2564197
  • Report
  • September 2020
  • Region: Global
  • 368 Pages
  • Global Industry Analysts, Inc
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Even as Environment Projects Derail, COVID-19 Sets the Alarm Bells Ringing

As the COVID-19 pandemic pushes the global economy into a steep recession, staying on course with CAPEX intensive environmental goals is besieged with challenges. Emission intensive industries like energy, chemicals and industrial processing are worst affected by the pandemic and the economic recession and it is in these industries that CO2 capture and storage has huge potential. With companies in the energy and manufacturing sector witnessing sizable drop in revenues and cash flows, energy efficiency, emission control and environmental projects are taking a direct hit. Tight cash flow conditions have resulted in the collapse of planned financing options. Against this backdrop, the global Carbon Capture and Storage (CCS) market is expected to slump in the year 2020 posting a -9.7% erosion in growth. By the year 2027, the market will reach a projected US$4.5 billion trailing a CAGR of 7.7%. The virus led recession is compromising global investments in clean energy and weakening industry environmental goals to reduce emissions. The magnitude of the impact is illustrated in the number of job losses in the clean tech industry in the United States. Over 18.2% of the clean tech industry`s workforce was retrenched in the first quarter of 2020 in the country. This however is expected to severely cripple long-term climate change goals and will be especially damaging for countries which have had early bird advantage in clean technologies. COVID-19 however is a warning against the effects of climate change and can likely be the first wave of a pandemic in a series of pandemics with bigger outbreaks likely to follow. Microbial behavior can be influenced by changing temperatures. Positive and negative microbial feedback responses to temperature is still not completely understood and there is a high risk of climate change impacting health and affecting the spread of infectious diseases.

Climate Change Can Become a Crisis More Severe than the COVID-19Outbreak

The pandemic interestingly has reinforced the importance of resilience and long-term planning. The unprecedented string of events of the last couple of months has highlighted the importance of tackling environmental and climate change issues before they blow out-of-proportions. Building climate-resilient infrastructure is crucial for humanity`s future. The economic inertia witnessed as part of the cataclysmic impact of the pandemic has reduced pollution significantly by clearing the skies of air traffic, halting polluting factories, and keeping billions confined to their homes. Over 2. 5 billion metric tons of carbon dioxide emissions which otherwise would have been emitted in the 1st quarter of 2020 has been prevented. The strategies used to curb the spread of the virus are not permanent and cannot remain in place for long. Concentration of CO2 in the atmosphere will increase again as countries begin reopening their economies. The pandemic has brought an overnight change in behavior and priories of governments, companies and people. The pandemic is a lesson learn in crisis management. Without intervention or with delayed intervention, the climate change will worsen in the next 20 years and as surface temperatures rise, it can create environmental and health crisis much worse than the COVID-19 outbreak.

Intensified Focus on the Environment will be Among the Pandemic-Induced Behavioral Changes

Governments, corporations and citizens worldwide will need to prioritize climate goals to be able to battle the next climate crisis in a meaningful way. Companies will need to adhere to their green goals and commitments and nations will need to draw up more ambitious climate plans and agreements. This is putting the clean tech industry in a paradoxical scenario where cutting down on clean tech programs could have devastating consequences in the long- term, while current financial scenario makes planned projects difficult to implement. All hopes are now pinned on government support and funding. Stimulus packages for clean technologies will therefore play a key role in keeping the industry afloat. As countries gradually ease lockdowns and restrictions, rebuilding in the post COVID-19 period will need to have a clear focus on climate change. The global market for CCS, under this scenario, is forecast to make to quick recovery in the coming years and will derive a major chunk of growth momentum from technology advancements that will lower capital equipment costs and capture operating costs; and expansion of applications of captured CO2 in Enhanced Oil Recovery (EOR), urea production, enhanced coal bed methane, algae fixation, mineralization, enhanced geothermal systems and others.

Competitors identified in this market include, among others:
  • Archer-Daniels-Midland Company
  • BP plc
  • Chevron Corporation
  • Emissions Reduction Alberta
  • GE Power
  • HTC CO2 Systems Corp.
  • Inventys Thermal Technologies Inc.
  • Japan CCS Co., Ltd.
  • Maersk Oil
  • Petrofac Ltd.
  • Schlumberger Limited
  • SNC-Lavalin Group Inc.
  • Statoil ASA
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • A Prelude
  • Recent Market Activity
  • Climate Change and the Need for Alternative Energy Sources
  • Where Does CCS Stand in the Action Plan to Curtail Climate Change?
  • CCS Moves Ahead despite Hurdles
  • Market Drivers
  • Government Support
  • Industrial Reuse of Captured Carbon Dioxide
  • Improvements in Carbon Capturing and Storing Technologies
  • Introduction of Relevant Standardizations and Legislations
  • Public Communication
  • Market Inhibitors
  • High Cost of CCS
  • Uneven Division of Capital Investments among Stakeholders
  • Market Uncertainty
  • Technological Uncertainty
  • Major Operational Industrial-Scale CCS Projects
  • Overview of Large-Scale CCS Projects in Operation
  • Overview of Select Cancelled CCS Projects
  • Pipeline Analysis
  • Major Players
  • Competitive Overview in CO2 Capture - Major Players by Category
  • Competitive Overview in CO2 Transport and Storage - Major Players by Category
  • Global Competitor Market Shares
  • Carbon Capture and Storage Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • Archer-Daniels-Midland Company (USA)
  • BP plc (UK)
  • Chevron Corporation (USA)
  • Emissions Reduction Alberta (Canada)
  • GE Power (USA)
  • HTC CO2 Systems Corp. (Canada)
  • Inventys Thermal Technologies, Inc. (USA)
  • Japan CCS Co., Ltd. (Japan)
  • Maersk Oil (Denmark)
  • Petrofac Ltd. (UK)
  • Schlumberger Limited (USA)
  • SNC-Lavalin Group, Inc. (Canada)
  • Statoil ASA (Norway)
3. MARKET TRENDS & DRIVERS
  • Carbon Capture & Storage (CCS): A Key to Sustainable Power Generation & Infrastructure Development
  • The Going Goes Slow for Large Scale CCS Projects
  • The Status of CCS Technologies and Deployment
  • CCS in Developed and Developing Countries
  • Demonstration Projects Key to CCS Growth in Developing Countries
  • International Assistance for CCS Deployment in Developing Countries
  • Huge Added Costs Fail to Hinder CCS Project Implementation
  • Enhanced Oil Recovery - the Sole Use of Sold Stored Carbon Dioxide, for Now
  • Low Cost of Carbon Dioxide Curbing Commercial Investments towards CCS
  • R&D in CCS Continues
  • List of Major R&D Players in CCS Technologies by Area
  • New Carbon Capture Technologies on the Anvil
  • Paris Agreement - A Game Changer for CCS?
  • Benefits & Disadvantages of CCS Approach
  • Benefits
  • Disadvantages
  • Environmental Concerns & Challenges
  • Long Term Environmental Impact: Remains a Cause of Concern
  • Low Financing in CCS - A Major Obstacle that Needs Overcoming
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: Carbon Capture and Storage Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027
  • TABLE 2: Carbon Capture and Storage Market Share Shift across Key Geographies Worldwide: 2020 VS 2027
  • TABLE 3: Pre-Combustion Capture (Technology) World Market by Region/Country in US$ Million: 2020 to 2027
  • TABLE 4: Pre-Combustion Capture (Technology) Market Share Breakdown of Worldwide Sales by Region/Country: 2020 VS 2027
  • TABLE 5: Post Combustion Capture (Technology) Potential Growth Markets Worldwide in US$ Million: 2020 to 2027
  • TABLE 6: Post Combustion Capture (Technology) Market Sales Breakdown by Region/Country in Percentage: 2020 VS 2027
  • TABLE 7: Industrial Separation Capture (Technology) Geographic Market Spread Worldwide in US$ Million: 2020 to 2027
  • TABLE 8: Industrial Separation Capture (Technology) Market Share Distribution in Percentage by Region/Country: 2020 VS 2027
  • TABLE 9: OXY-Fuel Combustion Capture (Technology) World Market Estimates and Forecasts by Region/Country in US$ Million: 2020 to 2027
  • TABLE 10: OXY-Fuel Combustion Capture (Technology) Market Share Breakdown by Region/Country: 2020 VS 2027
  • TABLE 11: Enhanced Oil Recovery (EOR) process (Application) Worldwide Latent Demand Forecasts in US$ Million by Region/Country: 2020-2027
  • TABLE 12: Enhanced Oil Recovery (EOR) process (Application) Distribution of Global Sales by Region/Country: 2020 VS 2027
  • TABLE 13: Industries (Application) Sales Estimates and Forecasts in US$ Million by Region/Country for the Years 2020 through 2027
  • TABLE 14: Industries (Application) Global Market Share Distribution by Region/Country for 2020 and 2027
  • TABLE 15: Agriculture (Application) Global Opportunity Assessment in US$ Million by Region/Country: 2020-2027
  • TABLE 16: Agriculture (Application) Percentage Share Breakdown of Global Sales by Region/Country: 2020 VS 2027
III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
  • Market Facts & Figures
  • US Carbon Capture and Storage Market Share (in %) by Company: 2020 & 2025
  • Market Analytics
  • TABLE 17: Carbon Capture and Storage Market in US$ Million in the United States by Technology: 2020-2027
  • TABLE 18: United States Carbon Capture and Storage Market Share Breakdown by Technology: 2020 VS 2027
  • TABLE 19: United States Carbon Capture and Storage Latent Demand Forecasts in US$ Million by Application: 2020 to 2027
  • TABLE 20: Carbon Capture and Storage Market Share Breakdown in the United States by Application: 2020 VS 2027
CANADA
  • TABLE 21: Carbon Capture and Storage Market Analysis in Canada in US$ Million by Technology: 2020-2027
  • TABLE 22: Canadian Carbon Capture and Storage Market Share Breakdown by Technology: 2020 VS 2027
  • TABLE 23: Canadian Carbon Capture and Storage Market Quantitative Demand Analysis in US$ Million by Application: 2020 to 2027
  • TABLE 24: Canadian Carbon Capture and Storage Market Share Analysis by Application: 2020 VS 2027
JAPAN
  • TABLE 25: Japanese Medium & Long-Term Outlook for Carbon Capture and Storage Market in US$ Million by Technology: 2020-2027
  • TABLE 26: Japanese Carbon Capture and Storage Market Percentage Share Distribution by Technology: 2020 VS 2027
  • TABLE 27: Japanese Demand Estimates and Forecasts for Carbon Capture and Storage in US$ Million by Application: 2020 to 2027
  • TABLE 28: Carbon Capture and Storage Market Share Shift in Japan by Application: 2020 VS 2027
CHINA
  • TABLE 29: Carbon Capture and Storage Market Estimates and Forecasts in China in US$ Million by Technology: 2020-2027
  • TABLE 30: Carbon Capture and Storage Market in China: Percentage Share Analysis by Technology for 2020 and 2027
  • TABLE 31: Chinese Demand for Carbon Capture and Storage in US$ Million by Application: 2020 to 2027
  • TABLE 32: Chinese Carbon Capture and Storage Market Share Breakdown by Application: 2020 VS 2027
EUROPE
  • Market Facts & Figures
  • European Carbon Capture and Storage Market: Competitor Market Share Scenario (in %) for 2020 & 2025
  • Market Analytics
  • TABLE 33: European Carbon Capture and Storage Market Demand Scenario in US$ Million by Region/Country: 2018-2025
  • TABLE 34: European Carbon Capture and Storage Market Share Shift by Region/Country: 2020 VS 2027
  • TABLE 35: European Carbon Capture and Storage Market Assessment in US$ Million by Technology: 2020-2027
  • TABLE 36: Carbon Capture and Storage Market in Europe: Percentage Breakdown of Sales by Technology for 2020 and 2027
  • TABLE 37: European Carbon Capture and Storage Addressable Market Opportunity in US$ Million by Application: 2020-2027
  • TABLE 38: European Carbon Capture and Storage Market Share Analysis by Application: 2020 VS 2027
FRANCE
  • TABLE 39: French Carbon Capture and Storage Market Estimates and Projections in US$ Million by Technology: 2020-2027
  • TABLE 40: French Carbon Capture and Storage Market Share Breakdown by Technology: 2020 VS 2027
  • TABLE 41: Carbon Capture and Storage Quantitative Demand Analysis in France in US$ Million by Application: 2020-2027
  • TABLE 42: French Carbon Capture and Storage Market Share Analysis: A 7-Year Perspective by Application for 2020 and 2027
GERMANY
  • TABLE 43: German Carbon Capture and Storage Latent Demand Forecasts in US$ Million by Technology: 2020-2027
  • TABLE 44: German Carbon Capture and Storage Market Share Breakdown by Technology: 2020 VS 2027
  • TABLE 45: Carbon Capture and Storage Market in Germany: Annual Sales Estimates and Forecasts in US$ Million by Application for the Period 2020-2027
  • TABLE 46: Carbon Capture and Storage Market Share Distribution in Germany by Application: 2020 VS 2027
ITALY
  • TABLE 47: Carbon Capture and Storage Market Estimates and Forecasts in Italy in US$ Million by Technology: 2020-2027
  • TABLE 48: Carbon Capture and Storage Market in Italy: Percentage Share Analysis by Technology for 2020 and 2027
  • TABLE 49: Italian Demand for Carbon Capture and Storage in US$ Million by Application: 2020 to 2027
  • TABLE 50: Italian Carbon Capture and Storage Market Share Breakdown by Application: 2020 VS 2027
UNITED KINGDOM
  • TABLE 51: United Kingdom Medium & Long-Term Outlook for Carbon Capture and Storage Market in US$ Million by Technology: 2020-2027
  • TABLE 52: United Kingdom Carbon Capture and Storage Market Percentage Share Distribution by Technology: 2020 VS 2027
  • TABLE 53: United Kingdom Demand Estimates and Forecasts for Carbon Capture and Storage in US$ Million by Application: 2020 to 2027
  • TABLE 54: Carbon Capture and Storage Market Share Shift in the United Kingdom by Application: 2020 VS 2027
REST OF EUROPE
  • TABLE 55: Rest of Europe Carbon Capture and Storage Market Assessment in US$ Million by Technology: 2020-2027
  • TABLE 56: Carbon Capture and Storage Market in Rest of Europe: Percentage Breakdown of Sales by Technology for 2020 and 2027
  • TABLE 57: Rest of Europe Carbon Capture and Storage Addressable Market Opportunity in US$ Million by Application: 2020-2027
  • TABLE 58: Rest of Europe Carbon Capture and Storage Market Share Analysis by Application: 2020 VS 2027
ASIA-PACIFIC
  • TABLE 59: Asia-Pacific Carbon Capture and Storage Market Estimates and Projections in US$ Million by Technology: 2020-2027
  • TABLE 60: Asia-Pacific Carbon Capture and Storage Historic Market Analysis in US$ Million by Technology: 2020 VS 2027
  • TABLE 61: Carbon Capture and Storage Quantitative Demand Analysis in Asia-Pacific in US$ Million by Application: 2020-2027
  • TABLE 62: Asia-Pacific Carbon Capture and Storage Market Share Analysis: A 7-Year Perspective by Application for 2020 and 2027
REST OF WORLD
  • TABLE 63: Carbon Capture and Storage Market Analysis in Rest of World in US$ Million by Technology: 2020-2027
  • TABLE 64: Rest of World Carbon Capture and Storage Market Share Breakdown by Technology: 2020 VS 2027
  • TABLE 65: Rest of World Carbon Capture and Storage Market Quantitative Demand Analysis in US$ Million by Application: 2020 to 2027
  • TABLE 66: Rest of World Carbon Capture and Storage Market Share Analysis by Application: 2020 VS 2027
IV. COMPETITION
  • Total Companies Profiled: 84
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