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Carbon Capture and Utilisation (CCU) Industry Analysis
Carbon Capture and Utilization (CCU) is considered the end-stage application of carbon capture technologies. As the final step in carbon capture processes, CCU utilizes CO₂ which captured from Pre-Combustion Carbon Capture, Oxy-Combustion Carbon Capture, Post-Combustion Carbon Capture, and apply it in Oil & Gas, Power Generation, etc. In the energy sector, CO₂ is used for Enhanced Oil Recovery (EOR) to increase oil extraction efficiency. In chemicals and fuels, captured CO₂ serves as a feedstock for synthetic fuels, methanol, and other industrial chemicals. The construction industry utilizes CO₂ in concrete curing and carbonated building materials, enhancing strength while reducing emissions. Such technologies are at different stages of development, and some are already commercially available. CCS (Carbon Capture and Storage) is a technology designed to reduce carbon dioxide (CO2) emissions by capturing CO2 from industrial processes and power plants and piping it to a storage site to be permanently sequestered, thereby preventing it from entering the atmosphere. Whether it is CCS or CCU, the captured CO2 needs to be compressed for transportation and subsequent processing, so CCS, CCU together form CCUS, an integrated technology that reduces greenhouse gas emissions and mitigates the impacts of climate change by capturing carbon dioxide (CO2) generated from industrial and energy production processes and utilizing it or sequestering it. The CCUS technology is not only capable of capture and store CO2 but also be able to convert it into valuable products, thus realizing both environmental and economic benefits.
The global Carbon Capture and Utilisation (CCU) market is projected to grow from US$ 4,643.33 million in 2024 to US$ 7,556.23 million by 2031, at a Compound Annual Growth Rate (CAGR) of 7.47% during the forecast period.
- Global Carbon Capture and Utilisation (CCU) MarketSize(US$ Million), 2019-2030
Source: QYResearch, "Carbon Capture and Utilisation (CCU) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”
 
- Global Carbon Capture and Utilisation (CCU) Top17Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)
Source: QYResearch, "Carbon Capture and Utilisation (CCU) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”
This report profiles key players of Carbon Capture and Utilisation (CCU) such as Exxon Mobil, Aker Solutions (SLB), Mitsubishi, BASF, General Electric, etc.
In 2023, the global top five Carbon Capture and Utilisation (CCU) players account for 40.73% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Carbon Capture and Utilisation (CCU).
Carbon Capture and Utilisation (CCU) Market Trends
Government Policies and Incentives
Governments worldwide are introducing policies, subsidies, and carbon pricing mechanisms to incentivize CCU development. This includes tax credits, grants, and regulations promoting CCU research, development, and deployment.
Advances in CO₂ Capture Technologies
Rapid advancements in CCU technologies are improving efficiency and reducing costs. New developments in direct air capture (DAC), bioenergy with carbon capture and storage (BECCS), and mineral carbonation processes are expanding the potential applications of CCU.
Integration with Renewable Energy
CCU technologies are being integrated with renewable energy sources like wind and solar to create a sustainable, carbon-neutral ecosystem. Renewable energy can power the processes involved in capturing and converting CO₂, ensuring that the overall carbon footprint of CCU is minimized.
Industrial Applications Expansion
Enhanced Oil Recovery (EOR): CO₂-EOR remains a significant application, using captured CO₂ to increase oil extraction from mature fields while sequestering the CO₂ underground.
Chemical and Material Production
Growing use of captured CO₂ as a feedstock for producing chemicals, plastics, and building materials, reducing reliance on fossil-based resources.
Cement and Concrete Production
Innovations in the use of CO₂ in cement and concrete curing processes are improving the sustainability and performance of construction materials.
About The Authors
| Yan He QyResearch ANALYST Email: heyan@qyresearch.com |
Yan He is a QyResearch Analyst. As a member of QyResearch, Yan He’s expertise is New Energy, Electronics & Semiconductors Medical Devices & Healthcare Products and Chemical Industry. She has been involved in and delivered several reports as well as customised projects. As an industry analyst, Yan He has several years’ experience at QyResearch, where she specializes in providing in-depth market research and strategic insights across various sectors. Her expertise lies in analyzing market trends, identifying growth opportunities, and evaluating competitive landscapes to help businesses make data-driven decisions. Offering valuable perspectives which drive innovation and support strategic planning for organizations looking to stay ahead in a rapidly evolving market environment. |
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 17 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting (data is widely cited in prospectuses, annual reports and presentations), industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
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