The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Carbon Storage Capture Market Overview
The global Carbon Storage Capture was estimated at $2.3 billion in 2021 and is expected to reach $7.9 billion by 2030, rising at a CAGR of 14.01% between 2023 and 2030.
Carbon capture and storage refers to the capturing of carbon dioxide from different sources of emission. Separating it from other gases and storing it at a suitable location. Increasing energy demands and rising investment toward the upstream & downstream sectors will enhance the carbon storage capture market. Growing industrialization and huge investment for the expansion of manufacturing facilities have raised the placement of CSC projects globally. Several governmental policies to limit greenhouse gas emission in many economic sectors will further boost the carbon storage capture market growth over the forecast period.
Additionally, government helps market players to develop, and accelerate the innovations under accurate operating conditions. For instance, the UK government-funded more than USD 14 million in HyNet CSC (carbon storage capture) project in 2019. Thus, an integrated CSC project was designed to capture CO2 emissions from the industry.
On the other hand, the high initial cost and large complexity of the system are some major concerns associated with the deployment of the CSC projects. However, the continuous deployment of government-funded CO2 EOR (Carbon dioxide enhanced oil recovery) projects will provide significant growth opportunities to the carbon storage capture market in the forthcoming years.
Carbon Storage Capture Market Segment Overview
The oil and gas segment has remarkable growth in the market owing to the continuous demand for crude oil and natural gas in various industries. Growing investment toward the upstream oil industry upsurge the demand for the growing energy. It will stimulate the application of CSC projects significantly. For instance, according to the International Energy Agency, the global upstream investment in 2019 was USD 505 billion, which was 6% higher as compared to 2018.
In addition, growing investments in the industrial sector along with the increasing demand for integrated gasification combined cycle power plants. It will create a significant impact on the pre-combustion carbon storage capture market. Lower capital costs and smaller equipment size makes it suitable for industrial and utility applications. Some of the hybrid techniques such as solvents, sorbents, and membranes are used for the process of carbon separation. which further boosts their market statistics.
Moreover, the constant efforts to control the carbon footprint following strict regulatory rules will positively influence the market growth in the coming years.
Carbon Storage Capture Market Regional Overview
Europe has commanded a major share in the global market. The higher adoption of energy portfolio strategies and strict standards regarding carbon emission by European Union nations. It is projected to attract more investments in the market. Furthermore, North America is also expected to witness significant growth in the global carbon storage capture market. The increasing focus on research and development to introduce new technologies is a key factor for the growth of the market in this region. Also, Asia Pacific is expected to offer good opportunities for the leading players, which further boosts the growth of the market.
Carbon Storage Capture Market Competitor overview
· May 15, 2020, Equinor, Shell, and Total have decided to invest in the Northern Lights project in Norway's first exploitation license for CO₂ storage on the Norwegian Continental Shelf. Plans for development and operation have been handed over to the Ministry of Petroleum and Energy.
· November 2015, Fluor Corporation has completed the construction of Shell’s Quest carbon capture and storage (CCS) project near Fort Saskatchewan, Alberta, Canada.
Carbon Storage Capture Market, Key Players
· The Linde Group
· Shell
· Vattenfall AB
· GDF SUEZ S.A.
· Royal Dutch Shell plc.
· Fluor Corporation
· Cansolv Technologies Inc
· Dakota Gasification Company
· Aker Solutions
· Japan CCS
· NRG Energy
· Chevron Corporation
· Climeworks AG
Carbon Storage Capture Market Segmentation
Carbon Storage Capture Market, By Technology
· Pre-Combustion
· Post Combustion
· Oxy-Fuel Combustion
Carbon Storage Capture Market, By End-Use Industry
· Oil & Gas
· Power Generation
· Iron & Steel
· Chemical & Petrochemical
· Cement
· Others
Carbon Storage Capture market, By Region
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Carbon Storage Capture Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Technology
- 5.2.1. Pre-Combustion
- 5.2.2. Post Combustion
- 5.2.3. Oxy-Fuel Combustion
- 5.3. Market Analysis, Insights and Forecast – By End-Use Industry
- 5.3.1. Oil & Gas
- 5.3.2. Power Generation
- 5.3.3. Iron & Steel
- 5.3.4. Chemical & Petrochemical
- 5.3.5. Cement
- 5.3.6. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Latin America
- 5.4.3. Europe
- 5.4.4. Asia Pacific
- 5.4.5. Middle East and Africa
6. North America Carbon Storage Capture Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Technology
- 6.2.1. Pre-Combustion
- 6.2.2. Post Combustion
- 6.2.3. Oxy-Fuel Combustion
- 6.3. Market Analysis, Insights and Forecast – By End-Use Industry
- 6.3.1. Oil & Gas
- 6.3.2. Power Generation
- 6.3.3. Iron & Steel
- 6.3.4. Chemical & Petrochemical
- 6.3.5. Cement
- 6.3.6. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Latin America Carbon Storage Capture Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Technology
- 7.2.1. Pre-Combustion
- 7.2.2. Post Combustion
- 7.2.3. Oxy-Fuel Combustion
- 7.3. Market Analysis, Insights and Forecast – By End-Use Industry
- 7.3.1. Oil & Gas
- 7.3.2. Power Generation
- 7.3.3. Iron & Steel
- 7.3.4. Chemical & Petrochemical
- 7.3.5. Cement
- 7.3.6. Others
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. Brazil
- 7.4.2. Mexico
- 7.4.3. Rest of Latin America
8. Europe Carbon Storage Capture Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Technology
- 8.2.1. Pre-Combustion
- 8.2.2. Post Combustion
- 8.2.3. Oxy-Fuel Combustion
- 8.3. Market Analysis, Insights and Forecast – By End-Use Industry
- 8.3.1. Oil & Gas
- 8.3.2. Power Generation
- 8.3.3. Iron & Steel
- 8.3.4. Chemical & Petrochemical
- 8.3.5. Cement
- 8.3.6. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. UK
- 8.4.2. Germany
- 8.4.3. France
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Rest of Europe
9. Asia Pacific Carbon Storage Capture Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Technology
- 9.2.1. Pre-Combustion
- 9.2.2. Post Combustion
- 9.2.3. Oxy-Fuel Combustion
- 9.3. Market Analysis, Insights and Forecast – By End-Use Industry
- 9.3.1. Oil & Gas
- 9.3.2. Power Generation
- 9.3.3. Iron & Steel
- 9.3.4. Chemical & Petrochemical
- 9.3.5. Cement
- 9.3.6. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. China
- 9.4.2. India
- 9.4.3. Japan
- 9.4.4. Australia
- 9.4.5. South East Asia
- 9.4.6. Rest of Asia Pacific
10. Middle East & Africa Carbon Storage Capture Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Technology
- 10.2.1. Pre-Combustion
- 10.2.2. Post Combustion
- 10.2.3. Oxy-Fuel Combustion
- 10.3. Market Analysis, Insights and Forecast – By End-Use Industry
- 10.3.1. Oil & Gas
- 10.3.2. Power Generation
- 10.3.3. Iron & Steel
- 10.3.4. Chemical & Petrochemical
- 10.3.5. Cement
- 10.3.6. Others
- 10.4. Market Analysis, Insights and Forecast – By Country
- 10.4.1. GCC
- 10.4.2. South Africa
- 10.4.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2021
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.4. The Linde Group
- 11.4.1. Business Overview
- 11.4.2. Segment 1 & Service Offering
- 11.4.3. Overall Revenue
- 11.4.4. Geographic Presence
- 11.4.5. Recent Development
- 11.5. Shell
- 11.6. Vattenfall AB
- 11.7. GDF SUEZ S.A.
- 11.8. Royal Dutch Shell plc.
- 11.9. Fluor Corporation
- 11.10. Cansolv Technologies Inc
- 11.11. Dakota Gasification Company
- 11.12. Aker Solutions
- 11.13. Japan CCS
- 11.14. NRG Energy
- 11.15. Chevron Corporation
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
