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The Global Market for Carbon Capture, Utilization and Storage Technologies

  • Report
  • 400 Pages
  • May 2022
  • Region: Global
  • Future Markets, Inc
  • ID: 5598503

FEATURED COMPANIES

  • Air Company
  • Carbominer
  • Danimer
  • General Electric
  • Mission Zero Technologies
  • Seabound

Carbon capture, utilization, and storage (CCUS) refers to technologies that capture CO2 emissions and use or store them, leading to permanent sequestration.

CCUS technologies capture of carbon dioxide emissions from large power sources, including power generation or industrial facilities that use either fossil fuels or biomass for fuel. CO2 can also be captured directly from the atmosphere. If not utilized onsite, captured CO2  is compressed and transported by pipeline, ship, rail or truck to be used in a range of applications, or injected into deep geological formations (including depleted oil and gas reservoirs or saline formations) which trap the CO2 for permanent storage.

Carbon removal technologies include direct air capture (DAC) or bioenergy with carbon capture and storage (BECCS). This fast growing market is being driven by government climate initiatives and increased public and private investments. In 2022 there has been over $1 billion in private investment in CCUS companies.

The market for CO2 use is expected to remain relatively small in the near term (<$2.5 billion), but will grow  in the next few years in the drive to mitigate carbon emissions from industry. New pathways to use CO2 in the production of fuels, chemicals and building materials are driving global interest, allied to increasing backing from governments, industry and investors, with global private funding for CO2 utilization start-ups and companies reaching nearly USD 1 billion in 2022 already. Climeworks, a Swiss startup developing direct air capture (DAC) raised a $650m round in April 2022.

Report contents include:

  • Analysis of the global market for carbon capture, utilization, and storage (CCUS) technologies.
  • Market developments, funding and investment in carbon capture, utilization, and storage (CCUS) 2020-2022.
  • Analysis of key market dynamics, trends, opportunities and factors influencing the global carbon, capture utilization & storage technologies market and its subsegments.
  • Market barriers to carbon capture, utilization, and storage (CCUS) technologies.
  • Market analysis of CO2-derived products including fuels, chemicals, building materials from minerals, building materials from waste, enhanced oil recovery, and CO2 use to enhance the yields of biological processes.
  • Market values and forecasts to 2040.
  • Profiles of 130 companies in Carbon capture, utilization, and storage (CCUS). Companies profiled include Algiecel, Captura, Carbyon BV, Climeworks, Dimensional Energy, Ebb Carbon, Heirloom Carbon Technologies, High Hopes Labs, Living Carbon, Mission Zero Technologies, Prometheus Fuels, Sustaera and Svante.

FEATURED COMPANIES

  • Air Company
  • Carbominer
  • Danimer
  • General Electric
  • Mission Zero Technologies
  • Seabound

1 RESEARCH METHODOLOGY
1.1 Definition of Carbon Capture, Utilisation and Storage (CCUS)
2 EXECUTIVE SUMMARY
2.1 Main sources of carbon dioxide emissions
2.2 CO2 as a commodity
2.3 Meeting climate targets
2.4 Market drivers and trends
2.5 The current market and future outlook
2.6 CCUS Industry developments 2020-2022
2.7 CCUS investments
2.8 Government CCUS initiatives
2.9 Commercial CCUS facilities and projects
2.9.1 Facilities
2.9.2 Projects
2.9.3 Networks
2.10 CCUS Value Chain
2.11 Key market barriers for CCUS
3 INTRODUCTION
3.1 What is CCUS?
3.1.1 Carbon Capture
3.1.2 Carbon Utilization
3.1.2.1 CO2 utilization pathways
3.1.3 Carbon storage
3.2 Transporting CO2
3.2.1 Methods of CO2 transport
3.2.2 Safety
3.2.3 Cost of CO2 capture for key sectors
3.2.4 Cost of CO2 transport
3.3 Applications
3.3.1 Oil and gas
3.3.1.1 Key CCUS technologies
3.3.2 Power generation
3.3.2.1 Key CCUS technologies
3.3.2.2 Carbonate fuel cell capture
3.3.2.3 Retrofitting coal and gas-fired power plants
3.3.3 Iron and steel production
3.3.3.1 Key CCUS technologies
3.3.4 Blue hydrogen production
3.3.4.1 Key CCUS technologies
3.3.5 Cement and concrete
3.3.5.1 Key CCUS technologies
3.3.6 Chemicals production
3.3.6.1 Key CCUS technologies
3.3.7 Marine vessels
3.3.7.1 Capturing CO2 emissions from marine vessels
3.4 Costs
3.5 Carbon pricing
4 CARBON CAPTURE
4.1 CO2 capture from point sources
4.1.1 Costs
4.1.2 Transportation
4.1.3 Global point source CO2 capture capacities
4.2 Main carbon capture processes
4.2.1 Post-combustion
4.2.2 Oxy-combustion
4.2.3 Liquid or supercritical CO2: Allam- Fetvedt Cycle
4.2.4 Pre-combustion
4.3 Carbon separation technologies
4.3.1 Adsorption and absorption capture
4.3.2 Membranes
4.3.3 Liquid or supercritical CO2 (Cryogenic) capture
4.3.4 Other technologies
4.3.5 Comparison of key separation technologies
4.4 Costs of CO2 capture
4.5 Co2 capture capacity in 2021
4.6 Carbon capture capacity forecast by capture type
4.7 Carbon capture capacity forecast by end use
4.8 Bioenergy with carbon capture and storage (BECCS)
4.8.1 Overview of technology
4.8.2 Advantages and disadvantages of BECCS
4.8.3 BECCS facilities
4.8.4 Challenges
4.9 Direct air capture (DAC)
4.9.1 Point source carbon capture versus Direct Air Capture
4.9.2 Technologies
4.9.2.1 High temperature (HT) aqueous solution
4.9.2.2 Low temperature solid sorbent DAC
4.9.2.3 Comparison of High temperature vs. low temperature DAC
4.9.3 Commercialization
4.9.4 Solid sorbents
4.9.5 Liquid solvents
4.9.6 Metal-organic frameworks (MOFs) in DAC
4.9.7 DAC plants and projects-current and planned
4.9.8 CO2 storage capacity by 2050
4.9.9 CO2 capture forecasts for 2030, 2050, and 2070
4.9.10 Markets for DAC
4.9.11 Costs
4.9.12 Challenges
4.9.13 Players and production
4.10 Other 'Negative emissions' technologies (NETs)
4.10.1 Enhanced weathering and ocean alkalinisation
4.10.2 Biochar
4.10.3 Afforestation and reforestation
4.10.4 Soil carbon sequestration
4.10.5 Ocean fertilisation
5 CARBON UTILIZATION
5.1 Overview
5.1.1 Current market status
5.1.1.1 Scalability
5.1.1.2 Competition
5.1.1.3 CO2 utilization market forecast
5.1.2 Benefits of carbon utilization
5.1.3 Challenges
5.2 Co2 utilization pathways
5.3 Conversion processes
5.3.1 Electrochemical conversion of CO2
5.3.2 Photocatalytic and photothermal catalytic conversion of CO2
5.3.3 Catalytic conversion of CO2
5.3.4 Bioconversion of CO2
5.3.5 Copolymerization of CO2
5.3.6 Mineral carbonation
5.3.7 LCA
5.4 CO2-derived products
5.4.1.1 Fuels
5.4.1.2 Chemicals
5.4.1.3 Building materials
5.4.1.4 CO2 Utilization in Biological Yield-Boosting
5.5 CO2 Utilization in Enhanced Oil Recovery
5.5.1 Overview
5.5.1.1 CO2 sources
5.5.1.2 Enhanced oil recovery (EOR) principles
5.5.2 CO2-EOR facilities and projects
5.5.3 CO2-EOR market analysis and forecast
5.5.4 Challenges
5.5.5 Key players
5.6 Carbon mineralization
5.6.1 Advantages
5.6.2 Challenges
5.6.3 In situ mineralization
5.7 Key players
6 CARBON STORAGE
6.1 Storage technology and mechanisms
6.1.1 Structural
6.1.2 Residual
6.1.3 Dissolution
6.1.4 Mineral Trapping
6.2 CO2 storage sites
6.2.1 Storage types for geologic CO2 storage
6.2.2 Oil and gas fields
6.2.3 Saline formations
6.3 Global CO2 storage potential
6.4 Storage costs
6.5 Costs
6.6 Challenges
7 COMPANY PROFILES (128 company profiles)8 REFERENCES
List of Tables
Table 1. Carbon Capture, Utilisation and Storage (CCUS) market drivers and trends
Table 2. Carbon capture, usage, and storage (CCUS) industry developments 2020-2022
Table 3. CCUS funding and investments
Table 4. Government CCUS initiatives
Table 5. Global commercial CCUS facilities-in operation
Table 6. Global commercial CCUS facilities-under development
Table 7. CCUS projects
Table 8. CCUS networks
Table 9. Key market barriers for CCUS
Table 10. CO2 utilization and removal pathways
Table 11. CO2 capture technologies
Table 12. Key CCUS technologies in oil and gas production
Table 13. Key CCUS technologies in power generation
Table 14. Key CCUS technologies in iron and steel production
Table 15. Key CCUS technologies in blue hydrogen production
Table 16. Key CCUS technologies in cement and concrete
Table 17. Key CCUS technologies in chemicals production
Table 18. Costs for CO2 capture, transport and storage,
Table 19. Global carbon pricing
Table 20. Main capture processes and their separation technologies
Table 21. Comparison of key separation technologies
Table 22. Summary of CO2 capture costs for new power plants based on current technology
Table 23. Summary of CO2 capture costs for new hydrogen plants based on current technology
Table 24. Technology overview
Table 25. Advantages and disadvantages of BECCS
Table 26. BECCS facilities
Table 27. Advantages and disadvantages of DAC
Table 28. Costs for solid sorbent DAC
Table 29. Costs for liquid solvent DAC
Table 30. DAC technology developers and production
Table 31. Markets for DAC
Table 32. Cost estimates of DAC
Table 33. Challenges for DAC technology
Table 34. DAC companies and technologies
Table 35. CO2 capture cost ranges for industrial production
Table 36. Bio electrochemical generation of solvents and biofuels from CO2
Table 37. Electrochemical CO2 reduction products
Table 38. Overview of mature CO2-derived products and services
Table 39. Market drivers for CO2-derived fuels
Table 40. Market drivers for CO2-derived chemicals
Table 41. Market drivers for CO2-derived products in building materials
Table 42. CO2-derived building materials applications
Table 43. Market players in CO2 derived building materials
Table 44. Market players in CO2 Utilization in Biological Yield-Boosting
Table 45. CO2-EOR facilities
Table 46. CO2-EOR market challenges
Table 47. CO2-EOR players
Table 48. Key players in CO2 utilization
Table 49.Storage and utilization of CO2
Table 50. Ocean carbon storage
List of Figures
Figure 1. Pathways for CO2 use
Figure 2. Overview of CCUS market
Figure 3. Cost to capture one metric ton of carbon, by sector
Figure 4. Global investment in carbon capture 2010-2022
Figure 5. CCUS Value Chain
Figure 6. Schematic of CCUS process
Figure 7. Pathways for CO2 utilization and removal
Figure 8. Carbon dioxide utilization and removal cycle
Figure 9. Cost estimates for long-distance CO2 transport
Figure 10. Applications for CO2
Figure 11. Carbonate fuel cell capture process
Figure 12. Marine-based CO2 Capture System
Figure 13. 3. Overview of CO2 capture processes and systems
Figure 14. Post-combustion carbon capture process
Figure 15. Oxy-combustion carbon capture process
Figure 16. Liquid or supercritical CO2 carbon capture process
Figure 17. Pre-combustion carbon capture process
Figure 18. Amine-based absorption technology
Figure 19. Pressure swing absorption technology
Figure 20. Membrane separation technology
Figure 21. Liquid or supercritical CO2 (cryogenic) distillation
Figure 22. Bioenergy with carbon capture and storage (BECCS) process
Figure 23. CO2 captured from air using liquid and solid sorbent DAC plants, storage, and reuse
Figure 24. DAC technologies
Figure 25. Schematic of Climeworks DAC system
Figure 26. Flow diagram for solid sorbent DAC
Figure 27. Flow diagram for the solvent process
Figure 28. NuMat’s ION-X cylinders
Figure 29. DAC cost breakdown and comparison
Figure 30. Comparison of hydrogen production costs from electricity and natural gas with CCUS
Figure 31. CO2 utilization capacity forecast by product (million tonnes of CO2 per year)
Figure 32. Carbon utilization annual revenue forecast by product (million US$)
Figure 33. Life cycle of CO2-derived products and services
Figure 34. Sunfire process for Blue Crude production
Figure 35. Energy-conversion rate of the ETOGAS process
Figure 36. Mass, energy balance and overall system efficiency of the ETL process
Figure 37. LanzaTech gas-fermentation process
Figure 38. Econic catalyst systems
Figure 39. Conversion pathways for CO2-derived methane, methanol and diesel
Figure 40. Conversion route for CO2-derived fuels and chemical intermediates
Figure 41. Production costs of CO2-derived fuels
Figure 42. Players in CO2-derived fuel products
Figure 43. Audi synthetic fuels
Figure 44. CO2-derived fuels forecast
Figure 45. Conversion pathways for CO2-derived polymeric materials
Figure 46. CO2-derived chemicals forecast
Figure 47. Conversion pathway for CO2-derived building materials
Figure 48. Conversion pathway for building materials from waste and CO2
Figure 49. CO2-derived building materials forecast
Figure 50. Use to enhance the yield of a biological or chemical process
Figure 51. CO2 use in biological yield-boosting forecast
Figure 52. Enhanced oil recovery (EOR) principles
Figure 53. Following carbon molecules through the mineralization process
Figure 54. In situ mineralization
Figure 55. Direct Air Capture Process
Figure 56. CRI process
Figure 57. ECFORM electrolysis reactor
Figure 58. Haldor Topsøe’s integral SOEC and TREMP™ system
Figure 59. Infinitree swing method

A selection of companies mentioned in this report includes:

  • Air Company
  • Air Liquide
  • Air Products and Chemicals, Inc
  • Aker Carbon Capture 
  • Algenol Biotech
  • Algiecel
  • Aqualung Carbon Capture
  • Asahi Kasei
  • Avantium
  • BASF SE 
  • BluePlanet 
  • BluSky 
  • BP PLC 
  • Brilliant Planet 
  • BSE Engineering (Germany) 
  • C2CNT LLC/Capital Power
  • Cambridge Carbon Capture 
  • Captura 
  • Carbfix 
  • CarbiCrete 
  • Carbominer
  • Carbon America 
  • Carbon Capture Machine (UK)
  • Carbon Clean Solutions Limited
  • Carbon Collect Limited
  • Carbon Cure
  • Carbon Engineering Ltd
  • Carbon Recycling International
  • Carbon8 Aggregates 
  • Carbon8 Systems
  • CarbonBuilt
  • CarbonFree 
  • CarbonMeta Research Ltd 
  • Carbyon BV 
  • C-Capture
  • Cemvita Factory Inc
  • Chevron U.S.AInc
  • Chiyoda 
  • Climeworks
  • CO2 Capsol 
  • Coval Energy 
  • Covestro
  • Danimer 
  • Deep Branch Biotechnology
  • Denbury Resources 
  • Dimensional Energy
  • Dioxide Materials 
  • DNV GL 
  • DyeCoo 
  • E³Tec 
  • Ebb Carbon 
  • Ecocera 
  • Econic Technologies Ltd
  • Eion Carbon
  • Emerging Fuels Technology (EFT)
  • Empower Materials, Inc
  • Equinor ASA
  • ETOGAS 
  • Fermentalg
  • Fluor Carbon Capture Process Technologies
  • Fortera Corporation 
  • Framergy, Inc
  • FuelCellEnergy
  • General Electric 
  • Global Thermostat 
  • Hago Energetics
  • Haldor Topsoe 
  • Heimdal 
  • Heirloom Carbon Technologies 
  • Hexas Biomass
  • High Hopes Labs 
  • Immaterial Ltd
  • INERATEC GmbH 
  • Infinitree LLC 
  • Joule Unlimited, Inc
  • Jupiter Oxygen Corporation 
  • Kiverdi 
  • Lanzatech
  • Liquid Wind
  • Living Carbon
  • Mango Materials, Inc
  • Mars Materials 
  • Mechanical Tree
  • Mineral Carbonation International
  • Mirreco
  • Mission Zero Technologies
  • MITSUBISHI HEAVY INDUSTRIES LTD
  • Mitsui Chemicals, Inc
  • MOFWORX 
  • Nanyang Zhongju Tianguan Low Carbon Technology Company 
  • Net Power
  • Neustark
  • Newlight Technologies LLC 
  • Norsk e-Fuel AS
  • Oakbio 
  • Obrist Group
  • Occidental Petroleum
  • OCOchem 
  • Orbix
  • OxEon Energy, LLC 
  • Oy Hydrocell Ltd
  • Pond Biofuels Inc
  • Pond Technologies
  • Prometheus Fuels, Inc
  • Proton Power, Inc
  • Quantiam Technologies Inc
  • Seabound
  • Seeo2 Energy
  • Shell
  • Sky Tree
  • SkyMining
  • SkyNano Technologies
  • Soletair Power 
  • Solidia Technologies 
  • Sunfire GmbH
  • Sustaera
  • Svante 
  • Synhelion
  • Tandem Technical 
  • Terra CO2 Technologies Ltd
  • TerraCOH
  • TerraFixing
  • The Linde Group
  • TotalEnergies SE 
  • Twelve 
  • Vertus Energy Ltd
  • ZoraMat Solutions .

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