Decarbonizing Industries: Market Outlook of CCUS Technologies for 2045
Key Ideas
- IDTechEx forecasts a global CCUS capture capacity to reach 2.5 gigatonnes per annum by 2045, essential for decarbonization.
- Carbon capture technologies are mature but costly; advancements aim to reduce expenses and enhance efficiency.
- Profitable CCUS projects are feasible with carbon pricing mechanisms like EU ETS and US tax credits, driving economic viability.
- Future CCUS projects are expected to adopt a part-chain business model, simplifying CO2 capture, transport, and storage processes.
The report 'Carbon Capture, Utilization, and Storage (CCUS) Markets 2025-2045' by IDTechEx provides a comprehensive outlook on the emerging CCUS industry and its impact on carbon markets. CCUS technologies play a crucial role in stripping carbon dioxide from waste gases and the atmosphere, aiding in decarbonization efforts worldwide. By storing CO2 underground or utilizing it in industrial processes, CCUS addresses emissions from fossil fuel assets and fosters sustainable sectors like blue hydrogen and BECCS. The report includes a 20-year forecast detailing the growth of CCUS CO2 capture capacity, company profiles, and analysis of over 350 companies in the field.
The analysis highlights the maturity of carbon capture technologies while acknowledging their high costs due to energy demands. Ongoing research focuses on developing cost-effective alternatives such as new solvents, membranes, and cryogenic methods. Moreover, the report emphasizes the economic viability of CCUS projects, exploring profitable models like selling CO2 for enhanced oil recovery. Government subsidies and carbon pricing mechanisms are identified as key drivers for expanding the economic feasibility of dedicated CO2 storage projects.
A notable shift in the CCUS business model is anticipated, moving towards a part-chain approach involving third-party service providers for CO2 capture, transport, or storage. This transition is expected to simplify project development for emitters and stimulate the growth of industrial CCUS hubs. The analysis also outlines the industrial applications of CCUS, highlighting its potential to decarbonize existing assets and support emerging sectors like bioenergy and blue hydrogen.
The report addresses critical questions about CCUS, its deployment, market outlook, key drivers, and the role of carbon pricing schemes in scaling up these technologies. It also provides detailed technology and market analysis, player insights, and trends shaping the CCUS landscape. Overall, the report presents a positive outlook on the role of CCUS in mitigating global CO2 emissions and facilitating the transition towards a more sustainable industrial ecosystem.
Topics
Blue Hydrogen
Carbon Capture
Technological Advancements
Business Models
Economic Viability
Industrial Sectors
Carbon Pricing
Market Forecast
CCUS Technologies
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