CCUS Market Set for Growth

The IDTechEx report, "Carbon Capture, Utilization, and Storage (CCUS) Markets 2023-2043", contains an overview of technology, player analysis and trends, and market forecasts and analysis. The latest forecast expects the global CCUS capacity to reach 1.8 gigatonnes per annum by 2043.

The CCUS Market: Will It Finally Take off?

CCUS encompasses a range of technologies designed to capture carbon dioxide (CO₂) emissions and provide long-term sequestration solutions or utilization routes. CCUS' competitive decarbonization is especially useful in industries such as energy, chemicals, cement, and steel production.

CCUS industry is starting to shift to new business models of dedicated CO₂ storage and emerging use cases for CO₂. The market has been dominated by enhanced oil recovery (EOR), which involves pumping CO₂ in geological reservoirs to extract additional fossil fuels. IDTechEx's new research finds that revenue streams are becoming more diverse, making the market signals stronger for CCUS deployment.

The sector is moving away from full-chain CCUS projects (integrated capture, transport, and storage or use that serve one large emitter) to developing multi-user, shared infrastructure networks. Many CCUS project developers are investing in a CCUS 'as-a-service' model by linking nearby CO₂ emitters through a collection hub and then transporting the CO₂ to clusters of storage or utilization sinks, either by ship or backbone pipelines.

For a detailed analysis of the CCUS market, please refer to IDTechEx's report "Carbon Capture, Utilization, and Storage (CCUS) Markets 2023-2043".