Global Carbon Capture & Storage Market including definitions, classifications, applications and indu

Author: Abdul Malik

The Carbon Capture and Storage (CCS) Market has gained much prominence in the recent years due to increased concerns about global warming across the world. Carbon capture and storage refers to the capturing of carbon dioxide from different sources of emission, separating it from other gases and transporting to a suitable location for storage. It is a process with a simple motive of capturing waste carbon dioxide emitted in the atmosphere and using it in something productive. It is accumulated from large point sources such as fossil fuel power plants, then transported to a single site, and then deposited in places where the gas will not enter the atmosphere. The only intention behind the whole system is to limit the CO2 emissions from human activities into the atmosphere by storing it away for long durations in underground layers, oceans or in other materials which don’t get back into direct contact with the atmosphere and destroy the ozone layer.

Increased research, exploration activities and investment drive the need for effective carbon capture sequestration practices. The demand for enhanced oil recovery strategy escalates sequestration activities that sequentially generate associated carbons, which are required to be safely captured and then transported. Stringent environmental regulations play a key role in the growth of carbon capture sequestration services within a region.

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There is a thin line of difference between Carbon Capture & Storage Market and CO2 Sequestration. Sequestration merely means removing carbon from the surrounding through natural processes like afforestation.

Driving Factors:

With a global spending in the Carbon Capture & Storage Market of $6,692 Million in 2014, this market has huge growth opportunities with numerous large scale projects being developed on an international level. The rapidly growing utility of coal in nations such as China and India are set to drive the market for CO2 Capture and Storage Market.

Biofuel industry will be the largest end user industry in the future followed by oil and gas. Growth of CO2 capture and sequestration for enhanced oil recovery process is the key factor that propels the market. Increase in biomass conversion activities for alternative fuel generation is one of the most important driving factors of this market.

The regions playing fair in the CCS Market are North America (USA, Canada) followed by Europe and Australia.

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Carbon capture and storage technology finds its applications into a variety of end user industries which include:

  • Chemical Production
  • Fertilizer Production
  • Iron and Steel
  • Oil & Gas
  • Power generation and Others

Report Scope:

The Co2 Capture & Storage Market is broadly divided into types based on certain factors:

  1. By Capture Technology: Post Combustion Capture, Pre Combustion Capture and Others.
  2. By Storage: Geological Storage, Ocean Storage and Others.
  3. By End-User Industry: Biofuels, Cement & Concrete and Others.
  4. By Geography: Americas, Europe, APAC and RoW.

Prominent Players:

  • ADA-ES, Inc.
  • Aker Clean Carbon AS
  • Alstom Group
  • Archer Daniels Midland Company
  • Chevron Corporation
  • China HuaNeng Group
  • CO2CRC Limited
  • ConocoPhillips Company

The report analyses the CO2 capture and storage market demand with respect to various regions. Competitive landscape for top five CO2 capture and storage market is highlighted and market players are profiled and are analysed on disparate aspects like company overview, financial overview, product portfolio and recent developments.

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