Key Highlights
• Post-burning capture refers to the recapture of CO2 through flue gases produced by combustion of petroleum-based products and plant biomass in the air. Instead of being discharged directly into the environment, flue gas is routed via technology that separates the majority of CO2. The separated CO2 is fed into a reservoir, while the rest of the flue gas is discharged into the environment. For CO2 separation, a chemical sorbent method is typically utilised. There are numerous strategies for capturing CO2 during the post-combustion procedure, involving the use of a solvent, sorbents, and membranes. Aside from that, hybrid technology is used, which entails combining fine a separation (e.g., solvent) and large amounts separation (e.g., membrane) procedures to take advantage of the benefits of each method of separation or novel process enhancement (e.g., cryogenic capture of CO2, a supersonic exhaust gas de-sublimation), that significantly reduces footprints as well as capital costs.
• The carbon capture and storage market was valued at USD 6.73 billion in 2022 and is predicted to reach over USD 42.67 billion by 2032, growing at a CAGR of 21.04% from 2023 to 2032.
• Aug’22 - Shell PLC acquired Sprang Energy Group, a producer of clean energy striving to reduce carbon emissions. This purchase aims to boost Shell PLC's carbon capture and storage capabilities while also expanding its market share.
• The increasing pace of industrialization and increased investment in manufacturing facilities are the main factors driving the worldwide market for carbon capture and storage. Furthermore, a number of federal measures to minimise emissions of greenhouse gases in various industries will drive interest in capture and storage of carbon during the projected period. Additionally, when the equipment is operating, the better oilfield recovery plans emit carbon dioxide. Rising energy demand and substantial investment in both upstream and downstream industries would further improve the market prospects for CSS. In addition, managerial and societal concerns about rising CO2 emissions and energy demand are ultimately pushing the CSS business.
Scope of the Industry Profile
Key Players
• Royal Dutch Shell (Netherlands)
• Fluor Corporation (US)
• Mitsubishi Heavy Industries, Ltd. (Japan)
• Exxon Mobil Corporation (US)
• Linde Plc (UK)
• JGC Holdings (Japan)
• Schlumberger Ltd (US)
• Aker Solutions (Norway)
• Honeywell International (US)
• Equinor ASA (Norway).
• Mitsubishi Heavy Industries
• Japan CCS Co., Ltd.
• Carbon Engineering Ltd.
• LanzaTech
Segmentation
By Service
• Capture
• Transportation
• Utilization
• Storage
By Technology
• Chemical Looping
• Solvents & Sorbents
• Bio-Energy CCS
• Direct Air Capture
By End-User
• Oil & Gas
• Power Generation
• Chemicals & Petrochemicals
• Cement
• Iron & Steel
• Others
By Product
• Pre-combustion
• Industrial Process
• Post Combustion
• Oxy-combustion
What To Expect from Industry Profile
1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Carbon Capture & Storage market in the world.
2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the global Carbon Capture & Storage market.
3. Leading company profiles reveal details of key Carbon Capture & Storage market players’ global operations, strategies, financial performance & their recent developments.
4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Carbon Capture & Storage market with forecast for decade by both market share (%) & revenue (USD Million).
Recent Developments
• Oct’22 - Carbon Capture, a climate science corporation headquartered in the United States that manufactures DAC (direct air capture) devices, selected Flour Corporation to provide project integration and technical services for Project Bison. This project will include the construction of a multi-megaton environmental carbon removal plant in Wyoming, which is expected to be operational by the end of 2023.
• June’22 - ExxonMobil Corporation, Shell, and the Guangdong Provincial Development and Reform Commission will collaborate to assess the feasibility of a capture and storage of carbon project at Huizhou's Dayawan petrochemical industrial park.
• Nov’21 - ExxonMobil Corporation & Petronas signed an agreement to jointly investigate possible carbon capture & storage initiatives in Malaysia.
• July’21 - Shell announced intentions to build a massive CCS facility in Alberta, Canada. The plant will be capable of capturing over 300 million metric tonnes of CO2 from the company's chemicals and refinery units over its lifetime.
Segment Insights
• Power generation dominated the market in 2022, with a share of volume of more than 66%. With a substantial stake in 2021, CSS constitutes one of among the most important sectors in the oil and gas business. CCS adoption in the petroleum and natural gas sector is facilitated by features such as easy access to affordable funding, extensive value chain linkages, and considerable market participant profits.
• The pre-combustion industry will have the biggest revenue share of more than 66% in 2022. Throughout the forecast period, the main factors influencing the development of post-combustion technologies are expected to be newly developed advanced amine systems, higher consumption of energy, and heat integration systems.
Regional Insights
• Asia Pacific is a critical market for carbon capture, utilisation, and storage. The region's carbon capture, utilisation, and storage market is likely to be driven by the region's significant number of coal-fired & natural gas-fired power plants. China has the world's second-largest economy. China is the leading emitter of greenhouse gases, as reported by the US Environment Protection Agency.
• Europe is the market with the greatest growth rate, mostly due to forthcoming CCUS initiatives in the UK, including the CLEAN GAS Initiative or Caledonia Clean Project, that are projected to begin operations before 2025, and the Norwegian Full Chain Project, which will probably start operations by 2024.
1 INTRODUCTION
1.1 Study Objectives
1.2 Market Definitions
1.2.1 Inclusions & Exclusions
1.2.2 Region: Inclusions & Exclusions
1.2.3 Study Scope
1.2.3.1 Markets Covered
1.2.3.2 Regional Scope
1.2.3.3 Years Considered
1.2.4 Currency Considered
1.2.5 Limitations
1.2.6 Summary Of Report (Chapter Wise Summary)
2 RESEARCH METHODOLOGY
2.1 Research Data
2.1.1 Secondary & Primary Research
2.1.2 Secondary Data
2.1.2.1 Secondary Sources
2.1.3 Primary Data
2.1.3.1 Primary Sources
2.2 Market Breakdown & Data Triangulation
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Research Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 EXECUTIVE SUMMARY
4 ACROSS THE GLOBE
4.1 Upcoming Attractive Market Opportunities
4.2 Country Wise Market Growth
4.3 Segment Wise Market Growth
5 MARKET OVERVIEW
5.1 Market Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 PORTOR’S Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Market Premium insights (Enterprise license)
5.4.1 Case Study Analysis
5.4.2 Country Wise Import & Export Data (If
Applicable)
5.4.3 Regulatory Bodies & Authorization
Across the Globe
5.4.4 Key Conferences & Events: 2022 &
2023
5.4.5 Top Patents for The Market: 2022
6 CARBON CAPTURE & STORAGE MARKET
OVERVIEW, BY SERVICE
6.1 Global Market Revenue & Share Analysis, By Service
6.1.1 Capture
6.1.2 Transportation
6.1.3 Utilization
6.1.4 Storage
6.2 Global Market Revenue & Share Analysis, 2018 – 2022
6.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
6.4 Key Takeaways
7 CARBON CAPTURE & STORAGE MARKET
OVERVIEW, BY TECHNOLOGY
7.1 Global Market Revenue & Share Analysis, By Technology
7.1.1 Chemical Looping
7.1.2 Solvents & Sorbents
7.1.3 Bio-Energy CCS
7.1.4 Direct Air Capture
7.2 Global Market Revenue & Share Analysis, 2018 – 2022
7.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
7.4 Key Takeaways
8 CARBON CAPTURE & STORAGE MARKET
OVERVIEW, BY END USER
8.1 Global Market Revenue & Share Analysis, By End User
8.1.1 Oil & Gas
8.1.2 Power Generation
8.1.3 Chemicals & Petrochemicals
8.1.4 Cement
8.1.5 Iron & Steel
8.1.6 Others
8.2 Global Market Revenue & Share Analysis, 2018 – 2022
8.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
8.4 Key Takeaways
9 CARBON CAPTURE &
STORAGE MARKET OVERVIEW, BY PRODUCT
9.1 Global Market Revenue & Share Analysis, By Product
9.1.1 Pre-combustion
9.1.2 Industrial Process
9.1.3 Post Combustion
9.1.4 Oxy-combustion
9.2 Global Market Revenue & Share Analysis, 2018 – 2022
9.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
9.4 Key Takeaways
10 CARBON CAPTURE & STORAGE MARKET
OVERVIEW, BY REGION
10.1 Global Market Revenue & Share Analysis, By Region
10.1.1 North America
10.1.2 Europe
10.1.3 Asia Pacific
10.1.4 Middle East & Africa
10.1.5 South America
10.2 Global Market Revenue & Share Analysis, 2018 – 2022
10.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
10.4 Key Takeaways
11 NORTH AMERICA MARKET
ANALYSIS
11.1 North America Market Revenue & Share Analysis, By Service
11.2 North America Market Revenue & Share Analysis, By
Technology
11.3 North America Market Revenue & Share Analysis, By End User
11.4 North America Market Revenue & Share Analysis, By Product
11.5 North America Market Revenue & Share Analysis, By Country
11.5.1 US
11.5.2 Canada
11.5.3 Mexico
11.6 Key Takeaways
12 EUROPE MARKET ANALYSIS
12.1 Europe Market Revenue & Share Analysis, By Service
12.2 Europe Market Revenue & Share Analysis, By Technology
12.3 Europe Market Revenue & Share Analysis, By End User
12.4 Europe Market Revenue & Share Analysis, By Product
12.5 Europe Market Revenue & Share Analysis, By Country
12.5.1 UK
12.5.2 Italy
12.5.3 Spain
12.5.4 Germany
12.5.5 France
12.5.6 Rest of Europe
12.6 Key Takeaways
13 ASIA PACIFIC MARKET ANALYSIS
13.1 APAC Market Revenue & Share Analysis, By Service
13.2 APAC Market Revenue & Share Analysis, By Technology
13.3 APAC Market Revenue & Share Analysis, By End User
13.4 APAC Market Revenue & Share Analysis, By Product
13.5 APAC Market Revenue & Share Analysis, By Country
13.5.1 China
13.5.2 Japan
13.5.3 India
13.5.4 South Korea
13.5.5 Rest of APAC
13.6 Key Takeaways
14 MIDDLE EAST & AFRICA MARKET
ANALYSIS
14.1 MEA Market Revenue & Share Analysis, By Service
14.2 MEA Market Revenue & Share Analysis, By Technology
14.3 MEA Market Revenue & Share Analysis, By End User
14.4 MEA Market Revenue & Share Analysis, By Product
14.5 MEA Market Revenue & Share Analysis,
By Country
14.5.1 GCC
14.5.2 South Africa
14.5.3 Rest of MEA
14.6 Key Takeaways
15 SOUTH AMERICA MARKET ANALYSIS
15.1 SA Market Revenue & Share Analysis, By Service
15.2 SA Market Revenue & Share Analysis, By Technology
15.3 SA Market Revenue & Share Analysis, By End User
15.4 SA Market Revenue & Share Analysis, By Product
15.5 SA Market Revenue & Share Analysis, By Country
15.5.1 Brazil
15.5.2 Argentina
15.5.3 Rest of SA
15.6 Key Takeaways
16 COMPETITIVE SCENARIO
16.1 Overview
16.2 Key Players Market Share Analysis
16.3 Recent Developments & Product Launches
16.4 Mergers & Acquisitions
16.5 Partnerships, Agreements & Collaborations
17 COMPANY PROFILES
17.1 Overview
17.2 Key players
17.2.1 Royal Dutch Shell (Netherlands)
17.2.1.1 Business Overview
17.2.1.2 Products Offered
17.2.1.3 Financial Insights
17.2.1.4 Strategic Developments
17.2.1.4.1 New Product Launches
17.2.1.4.2 Agreements & Collaborations
17.2.1.5 Business Aspects (NOISE Analysis)
17.2.1.5.1 Key Strengths
17.2.1.5.2 Opportunities
17.2.1.5.3 Weaknesses & Competitive Threats
17.2.1.5.4 Needs & Improvements
17.2.2 Fluor Corporation (US)
17.2.3 Mitsubishi Heavy Industries, Ltd. (Japan)
17.2.4 Exxon Mobil Corporation (US)
17.2.5 Linde Plc (UK)
17.2.6 JGC Holdings (Japan)
17.2.7 Schlumberger Ltd (US)
17.2.8 Aker Solutions (Norway)
17.2.9 Honeywell International (US)
17.2.10 Equinor ASA (Norway).
18 DISCLAIMER
19 APPENDIX
