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Carbon Capture and Sequestration Market

Global Carbon Capture and Sequestration Market Forecast: By Capture Source: Chemicals, Natural Gas Processing, Power Generation, Fertilizers Production, Others; By Service: Capture, Transportation, Storage; By End Use: Enhanced Oil Recovery (EOR), Dedicated Storage and Treatment; Regional Analysis; Competitive Landscape; 2024-2032

Global Carbon Capture and Sequestration Market Outlook

The global carbon capture and sequestration market reached a value of about USD 7.75 billion in 2023. The market is further estimated to grow at a CAGR of 10.9% in the forecast period of 2024-2032 to reach a value of around USD 19.66 billion by 2032.

 

carbon capture and sequestration market

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Rising Utilisation of Carbon Capture and Sequestration for Enhanced Oil Recovery (EOR) to Propel the Market Growth of Carbon Capture and Sequestration

Based on end-use, the growing demand for enhanced oil recovery (EOR) segment is driving the market growth of carbon capture and sequestration. The ever-increasing demand for oil worldwide is playing a critical role in the application of carbon capture and sequestration technologies to derive oil from underground reservoirs, thereby propelling the market. The utilisation of carbon dioxide to move crude oil out due to its miscibility with crude oil, which helps in improving the efficiency of the oil displacement, is providing impetus to the market expansion. In addition, the cost-effectiveness of carbon when compared to other miscible solvents is leading to the steady market development of carbon capture and sequestration. The growing number of carbon dioxide EOR projects, based on the availability of low-cost CO2, are invigorating the market for carbon capture and sequestration. The initiatives taken by the key market players in capturing carbon dioxide and offering it to oil producers for use in EOR projects are likely to aid the market for carbon capture and sequestration over the forecast period.

 

Market Segmentation

 

carbon capture and sequestration market by segments

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Carbon capture and sequestration are technologies that capture carbon dioxide from industrial processes before it enters the atmosphere. The method includes transporting the compressed carbon dioxide and storing it in deep geological formations for centuries or millennia. These geological formations are covered with impermeable, non-porous rocks that trap carbon dioxide to prevent its release into the environment.

The market for carbon capture and sequestration, by capture source, is divided into:

  • Chemicals
  • Natural Gas Processing
  • Power Generation
  • Fertilizers Production
  • Others

Based on service, the market is segmented into:

  • Capture
    • Pre-Combustion Capture
    • Post-Combustion Capture
    • Oxy-Fuel Combustion
    • Others
  • Transportation 
  • Storage

On the basis of end use, the market is bifurcated into:

  • Enhanced Oil Recovery (EOR)
  • Dedicated Storage and Treatment

 

carbon capture and sequestration market by  region

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The regional markets for carbon capture and sequestration can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Environmental Consciousness to Drive the Market Growth of Carbon Capture and Sequestration

The growing use of carbon capture and sequestration to reduce emissions from large stationary sources of carbon dioxide and stabilise the atmospheric greenhouse gas concentrations is playing a critical role in the development of the market. The application of the stored carbon dioxide in a wide range of end uses like enhanced oil recovery (EOR), food and beverage manufacturing, pulp and paper manufacturing, and metal fabrication is propelling the market growth of carbon capture and sequestration. The initiatives taken by the governments worldwide in promoting carbon dioxide capture and sequestration are providing impetus to the market expansion. For instance, in July 2018, the Government of India launched a Call on IC3 on CCUS for joint Research & Development with member MI countries to identify breakthrough technologies in the field of carbon capture, separation, and storage. The investments made by leading market players in carbon capture to adopt widespread industrial carbon capture are expected to augment the market for carbon capture and sequestration during the forecast period.

 

Key Players in the Global Carbon Capture and Sequestration Market

The report gives a detailed analysis of the following key players in the global carbon capture and sequestration market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Exxon Mobil Corporation
  • Carbon Engineering Ltd.,
  • Fluor Corporation
  • Equinor ASA
  • Dakota Gasification Company
  • Linde plc
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Capture Source
  • Service
  • End Use
  • Region
Breakup by Capture Source
  • Chemicals
  • Natural Gas Processing
  • Power Generation
  • Fertilizers Production
  • Others
Breakup by Service
  • Capture
    • Pre-Combustion Capture
    • Post-Combustion Capture
    • Oxy-Fuel Combustion
    • Others
  • Transportation 
  • Storage
Breakup by End Use
  • Enhanced Oil Recovery (EOR)
  • Dedicated Storage and Treatment
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Exxon Mobil Corporation
  • Carbon Engineering Ltd.,
  • Fluor Corporation
  • Equinor ASA
  • Dakota Gasification Company
  • Linde plc
  • Others
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface 
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments  
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Region
7    Opportunities and Challenges in the Market
8    Global Carbon Capture and Sequestration Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Carbon Capture and Sequestration Historical Market (2018-2023) 
    8.3    Global Carbon Capture and Sequestration Market Forecast (2024-2032)
    8.4    Global Carbon Capture and Sequestration Market by Capture Source
        8.4.1    Chemicals
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Natural Gas Processing
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Power Generation
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Fertilizers Production
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Others
    8.5    Global Carbon Capture and Sequestration Market by Service
        8.5.1    Capture
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
            8.5.1.3    Breakup by Type
                8.5.1.3.1    Pre-Combustion Capture
                8.5.1.3.2    Post-Combustion Capture
                8.5.1.3.3    Oxy-Fuel Combustion 
                8.5.1.3.4    Others
        8.5.2    Transportation 
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Storage
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global Carbon Capture and Sequestration Market by End Use
        8.6.1    Enhanced Oil Recovery (EOR)
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Dedicated Storage and Treatment
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)    
    8.7    Global Carbon Capture and Sequestration Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Carbon Capture and Sequestration Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Carbon Capture and Sequestration Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Carbon Capture and Sequestration Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Carbon Capture and Sequestration Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Carbon Capture and Sequestration Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Exxon Mobil Corporation
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Carbon Engineering Ltd.,
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Fluor Corporation
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Equinor ASA
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Dakota Gasification Company
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Linde plc
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Carbon Capture and Sequestration Market: Key Industry Highlights, 2018 and 2032
2.    Global Carbon Capture and Sequestration Historical Market: Breakup by Capture Source (USD Billion), 2018-2023
3.    Global Carbon Capture and Sequestration Market Forecast: Breakup by Capture Source (USD Billion), 2024-2032
4.    Global Carbon Capture and Sequestration Historical Market: Breakup by Service (USD Billion), 2018-2023
5.    Global Carbon Capture and Sequestration Market Forecast: Breakup by Service (USD Billion), 2024-2032
6.    Global Carbon Capture and Sequestration Historical Market: Breakup by End-Use (USD Billion), 2018-2023
7.    Global Carbon Capture and Sequestration Market Forecast: Breakup by End-Use (USD Billion), 2024-2032
8.    Global Carbon Capture and Sequestration Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Carbon Capture and Sequestration Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Carbon Capture and Sequestration Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Carbon Capture and Sequestration Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Carbon Capture and Sequestration Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Carbon Capture and Sequestration Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Carbon Capture and Sequestration Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Carbon Capture and Sequestration Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Carbon Capture and Sequestration Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Carbon Capture and Sequestration Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Carbon Capture and Sequestration Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Carbon Capture and Sequestration Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Global Carbon Capture and Sequestration Market Structure.

Key Questions Answered in the Report

In 2023, the global carbon capture and sequestration market attained a value of nearly USD 7.75 billion.

The market is assessed to grow at a CAGR of 10.9% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach almost USD 19.66 billion by 2032.

The major market drivers include the expanding use of captured carbon in various end uses, increasing use of carbon capture and sequestration technologies to meet the growing demand for oil, developing enhanced oil recovery projects, and emerging need to reduce global warming.

The key trends guiding the growth of the market include the rising environmental consciousness, government initiatives, and investments by market players in carbon capture and sequestration technologies.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The significant capture sources of carbon capture and sequestration, include chemicals, natural gas processing, power generation, and fertilizers production, among others.

The various services of the market, include capture, transportation, and storage.

The major end uses of the market, include enhanced oil recovery (EOR) and dedicated storage and treatment.

The major players in the market are Exxon Mobil Corporation, Carbon Engineering Ltd., Fluor Corporation, Equinor ASA, Dakota Gasification Company, and Linde plc, among others.

Analyst Review

The global carbon capture and sequestration market attained a value of nearly USD 7.75 billion in 2023, driven by the emerging need to reduce carbon dioxide concentrations in the atmosphere. Aided by the government initiatives, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 10.9%. The market is estimated to reach about USD 19.66 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The market for carbon capture and sequestration, by capture source, is divided into chemicals, natural gas processing, power generation, and fertilizers production, among others. Based on service, the market is segmented into capture, transportation, and storage. On the basis of end use, the market is bifurcated into enhanced oil recovery (EOR) and dedicated storage and treatment. The major regional markets for carbon capture and sequestration are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Exxon Mobil Corporation, Carbon Engineering Ltd., Fluor Corporation, Equinor ASA, Dakota Gasification Company, and Linde plc, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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