Global Carbon Capture and Storage Market: Growing Demand and Growth Opportunity

The report "Global Carbon Capture and Storage Market, By Technology (Pre-Combustion Capture, Oxy-Fuel Combustion Capture, and Post-Combustion Capture), By End-User Industry (Oil and Gas, Coal and Biomass Power Plant, Iron and Steel, Chemical, and Other End-User Industry), and Region - Global Forecast to 2030" global carbon capture and storage market is projected to grow from US$ 1.4 billion in 2018. The major factor driving the global carbon capture and storage market is the emerging demand for CO2 injection technique for enhanced oil recovery (EOR), and strict government norms towards GHG emissions. Augmenting prominence for bioenergy carbon capture and storage (BECCS) is likely to act as an opportunity in the future.

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Key Highlights:

In January 2020, Occidental Petroleum Corporation announced Svante, LafargeHolcim, Oxy low carbon ventures and total launch study for commercial-sale carbon capture and end-use at U.S. plant.
In August 2019, ExxonMobil announced that ExxonMobil and Mosaic Material to explore new carbon capture technology
Key Market Insights from the report:

The global carbon capture and storage market accounted for US$ 1.4 billion in 2018 and is projected to register a moderate CAGR of 9.30% over the forecast period. The market report has been segmented on the cancer technology, end-user industry, and region.

By technology, pre-combustion is dominating the segment, due to increased energy generation, newly developed advanced amine systems.
By end-user industry, the oil and gas industry is dominating the segment, as carbon capture and storage (CCS), is aiding the oil and gas industry to mitigate greenhouse gases out of the atmosphere.
By region, North America is projected to lead the global carbon capture and storage market and is expected to remain dominant during the forecast period, owing to the growing demand for clean technology.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Carbon Capture and Storage Market”, By Technology (Pre-Combustion Capture, Oxy-Fuel Combustion Capture, and Post-Combustion Capture), By End-User Industry (Oil and Gas, Coal and Biomass Power Plant, Iron and Steel, Chemical, and Other End-User Industry), and by Region – global forecast till 2030

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The prominent player operating in the global carbon capture and storage market includes Occidental Petroleum Corporation, ExxonMobil, NRG Energy, Chevron Corporation, Shell, Fluor Corporation, Japan CCS, Climeworks AG, Dakota Gasification Company, and The Linde Group.

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This release was published on openPR.