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. 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.
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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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Report Scope:
The Co2 Capture & Storage Market is broadly divided into
types based on certain factors:
- By Capture Technology: Post Combustion Capture, Pre Combustion Capture.
- By Storage: Geological Storage, Ocean Storage and Others.
- By End-User Industry: Biofuels, Cement & Concrete and Others.
- 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
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