Future Growth Potential Accelerated by Regulatory Frameworks, Implementation of Negative Emission Technologies, and Developing Value through CO2 Utilization
Carbon Capture, Utilization, and Storage (CCUS) will play a huge role in the global shift toward decarbonization of industries in the decades ahead. As the global energy transition accelerates and impending deadlines for a carbon-neutrality approach, the CCUS market will present dynamic growth opportunities across regions and industrial sectors to 2040.
In the short-to-medium term, CCUS will find wider applications in hard-to-abate industries, such as coal-fired power plants, cement manufacturing, iron and steel, fertilizers, and chemical production by retrofitting existing plants. To have a larger impact on decarbonization strategies in the longer term, negative emission technologies, such as Bioenergy CCS (BECCS) and Direct Air CCS (DACCS) will be deployed.
CCUS hubs will play a significant role by integrating various industrial clusters within the ecosystem, reducing the cost and operational risk. Meanwhile, innovation will focus on cost reduction, technology optimization, modularization, and new business models.
This study gives a comprehensive analysis of the global CCUS market until 2040, including forecasts for revenue, carbon capture capacity, technology, regional splits, trends by industry, competitive analysis, and growth opportunity identification.
