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Market Research Report

Carbon Capture and Storage

Published by Global Industry Analysts, Inc. Product code 273600
Published Content info 368 Pages
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Carbon Capture and Storage
Published: September 1, 2020 Content info: 368 Pages
Description

Even as Environment Projects Derail, COVID-19 Sets the Alarm Bells Ringing

As the COVID-19 pandemic pushes the global economy into a steep recession, staying on course with CAPEX intensive environmental goals is besieged with challenges. Emission intensive industries like energy, chemicals and industrial processing are worst affected by the pandemic and the economic recession and it is in these industries that CO2 capture and storage has huge potential. With companies in the energy and manufacturing sector witnessing sizable drop in revenues and cash flows, energy efficiency, emission control and environmental projects are taking a direct hit. Tight cash flow conditions have resulted in the collapse of planned financing options. Against this backdrop, the global Carbon Capture and Storage (CCS) market is expected to slump in the year 2020 posting a -9.7% erosion in growth. By the year 2027, the market will reach a projected US$4.5 billion trailing a CAGR of 7.7%. The virus led recession is compromising global investments in clean energy and weakening industry environmental goals to reduce emissions. The magnitude of the impact is illustrated in the number of job losses in the clean tech industry in the United States. Over 18.2% of the clean tech industry`s workforce was retrenched in the first quarter of 2020 in the country. This however is expected to severely cripple long-term climate change goals and will be especially damaging for countries which have had early bird advantage in clean technologies. COVID-19 however is a warning against the effects of climate change and can likely be the first wave of a pandemic in a series of pandemics with bigger outbreaks likely to follow. Microbial behavior can be influenced by changing temperatures. Positive and negative microbial feedback responses to temperature is still not completely understood and there is a high risk of climate change impacting health and affecting the spread of infectious diseases.

Climate Change Can Become a Crisis More Severe than the COVID-19Outbreak

The pandemic interestingly has reinforced the importance of resilience and long-term planning. The unprecedented string of events of the last couple of months has highlighted the importance of tackling environmental and climate change issues before they blow out-of-proportions. Building climate-resilient infrastructure is crucial for humanity`s future. The economic inertia witnessed as part of the cataclysmic impact of the pandemic has reduced pollution significantly by clearing the skies of air traffic, halting polluting factories, and keeping billions confined to their homes. Over 2. 5 billion metric tons of carbon dioxide emissions which otherwise would have been emitted in the 1st quarter of 2020 has been prevented. The strategies used to curb the spread of the virus are not permanent and cannot remain in place for long. Concentration of CO2 in the atmosphere will increase again as countries begin reopening their economies. The pandemic has brought an overnight change in behavior and priories of governments, companies and people. The pandemic is a lesson learn in crisis management. Without intervention or with delayed intervention, the climate change will worsen in the next 20 years and as surface temperatures rise, it can create environmental and health crisis much worse than the COVID-19 outbreak.

Intensified Focus on the Environment will be Among the Pandemic-Induced Behavioral Changes

Governments, corporations and citizens worldwide will need to prioritize climate goals to be able to battle the next climate crisis in a meaningful way. Companies will need to adhere to their green goals and commitments and nations will need to draw up more ambitious climate plans and agreements. This is putting the clean tech industry in a paradoxical scenario where cutting down on clean tech programs could have devastating consequences in the long- term, while current financial scenario makes planned projects difficult to implement. All hopes are now pinned on government support and funding. Stimulus packages for clean technologies will therefore play a key role in keeping the industry afloat. As countries gradually ease lockdowns and restrictions, rebuilding in the post COVID-19 period will need to have a clear focus on climate change. The global market for CCS, under this scenario, is forecast to make to quick recovery in the coming years and will derive a major chunk of growth momentum from technology advancements that will lower capital equipment costs and capture operating costs; and expansion of applications of captured CO2 in Enhanced Oil Recovery (EOR), urea production, enhanced coal bed methane, algae fixation, mineralization, enhanced geothermal systems and others.

Competitors identified in this market include, among others,

  • Archer-Daniels-Midland Company
  • BP plc
  • Chevron Corporation
  • Emissions Reduction Alberta
  • GE Power
  • HTC CO2 Systems Corp.
  • Inventys Thermal Technologies Inc.
  • Japan CCS Co., Ltd.
  • Maersk Oil
  • Petrofac Ltd.
  • Schlumberger Limited
  • SNC-Lavalin Group Inc.
  • Statoil ASA
Table of Contents
Product Code: MCP-6717

TABLE OF CONTENTS

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

  • 1. MARKET OVERVIEW
    • Impact of Covid-19 and a Looming Global Recession
    • EXHIBIT 1: Job Losses in Clean Energy Sector in the United States (In 000s)
    • Issues Impacting Clean Technologies amid Covid-19 Pandemic
    • Where Does CCS Stand in the Action Plan to Curtail Climate Change?
    • Outlook
    • Regional Market Review
    • Market Growth Drivers
    • Government Support
    • Industrial Reuse of Captured Carbon Dioxide
    • Improvements in Carbon Capturing and Storing Technologies
    • Introduction of Relevant Standardizations and Legislations
    • Public Outreach
    • Market Inhibitors
    • High Cost of CCS
    • Uneven Division of Capital Investments among Stakeholders
    • Market Uncertainty
    • Technological Uncertainty
    • Global CCS Project Landscape
    • EXHIBIT 2: World Number of Large Scale Carbon Capture and Storage Projects by Region: 2019
    • EXHIBIT 3: World CCS Projects Breakdown by Status: 2019
    • Large Scale CCS Facilities in Construction, Advanced and Early Development: 2019
    • IRS Guidance Awaited for New Carbon Capture Technologies
    • Northern Lights Project: A Significant Move
    • Recent Market Activity
  • 2. FOCUS ON SELECT PLAYERS
    • Select Brands in CCS Market
  • 3. MARKET TRENDS & DRIVERS
    • Demand for Clean Energy Offers Significant Growth Opportunities
    • EXHIBIT 4: Rising Carbon Dioxide Emissions Drive Focus onto Clean Energy: Global CO2 Emissions Breakdown (in %) by Region for 2019
    • Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
    • Enhanced Oil Recovery: Market with Strong Growth Opportunities
    • EXHIBIT 5: Global Oil Production: Percentage Breakdown of Production Volume by Onshore, Offshore, and Offshore Deepwater Activity for the Years 2011, 2015 and 2021
    • EXHIBIT 6: Average Annual OPEC Crude Oil Price (in $/barrel) for the Years 2010 through 2020 (May)
    • Growing Focus on Blue Hydrogen in Oil and Gas Sector Augurs well for CCS Technologies
    • Increasing Industrialization and Urbanization Levels Trigger Demand
    • EXHIBIT 7: World Ranking of Most Polluted Countries: 2018
    • Natural Gas Processing Plants: An Important Site for Carbon Capture
    • EXHIBIT 8: Global Natural Gas Production (In Billion Cubic Feet per Day) by Type for the Years 2017, 2020, 2025, 2030 and 2040
    • R&D in CCS Continues to Gain Pace
    • Select Recent Innovations
    • Low Cost of Carbon Dioxide Curb Commercial Investments towards CCS
    • Environmental Concerns & Challenges
    • Low Financing in CCS: A Major Obstacle that Needs Overcoming
    • CARBON CAPTURE AND STORAGE: DEFINITION AND MARKET SCOPE
    • Types of Carbon Capture Technologies
    • Post-Combustion
    • Pre-Combustion
    • Oxy-Fuel Combustion
    • CO2 Compression
    • CO2 Transportation
    • CO2 Storage
  • 4. GLOBAL MARKET PERSPECTIVE
    • TABLE 1: Carbon Capture and Storage Global Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027
    • TABLE 2: Carbon Capture and Storage Global Retrospective Market Scenario in US$ Thousand by Region/Country: 2017-2019
    • TABLE 3: Carbon Capture and Storage Market Share Shift across Key Geographies Worldwide: 2017 VS 2020 VS 2027
    • TABLE 4: Pre-Combustion World Market by Region/Country in US$ Thousand: 2020 to 2027
    • TABLE 5: Pre-Combustion Historic Market Analysis by Region/Country in US$ Thousand: 2017 to 2019
    • TABLE 6: Pre-Combustion Market Share Breakdown of Worldwide Sales by Region/Country: 2017 VS 2020 VS 2027
    • TABLE 7: Post Combustion Potential Growth Markets Worldwide in US$ Thousand: 2020 to 2027
    • TABLE 8: Post Combustion Historic Market Perspective by Region/Country in US$ Thousand: 2017 to 2019
    • TABLE 9: Post Combustion Market Sales Breakdown by Region/Country in Percentage: 2017 VS 2020 VS 2027
    • TABLE 10: Industrial Separation Geographic Market Spread Worldwide in US$ Thousand: 2020 to 2027
    • TABLE 11: Industrial Separation Region Wise Breakdown of Global Historic Demand in US$ Thousand: 2017 to 2019
    • TABLE 12: Industrial Separation Market Share Distribution in Percentage by Region/Country: 2017 VS 2020 VS 2027
    • TABLE 13: Oxy-Fuel Combustion World Market Estimates and Forecasts by Region/Country in US$ Thousand: 2020 to 2027
    • TABLE 14: Oxy-Fuel Combustion Market Historic Review by Region/Country in US$ Thousand: 2017 to 2019
    • TABLE 15: Oxy-Fuel Combustion Market Share Breakdown by Region/Country: 2017 VS 2020 VS 2027
    • TABLE 16: Enhanced Oil Recovery (EOR) Worldwide Latent Demand Forecasts in US$ Thousand by Region/Country: 2020-2027
    • TABLE 17: Enhanced Oil Recovery (EOR) Global Historic Analysis in US$ Thousand by Region/Country: 2017-2019
    • TABLE 18: Enhanced Oil Recovery (EOR) Distribution of Global Sales by Region/Country: 2017 VS 2020 VS 2027
    • TABLE 19: Industrial Sales Estimates and Forecasts in US$ Thousand by Region/Country for the Years 2020 through 2027
    • TABLE 20: Industrial Analysis of Historic Sales in US$ Thousand by Region/Country for the Years 2017 to 2019
    • TABLE 21: Industrial Global Market Share Distribution by Region/Country for 2017, 2020, and 2027
    • TABLE 22: Other Applications Global Opportunity Assessment in US$ Thousand by Region/Country: 2020-2027
    • TABLE 23: Other Applications Historic Sales Analysis in US$ Thousand by Region/Country: 2017-2019
    • TABLE 24: Other Applications Percentage Share Breakdown of Global Sales by Region/Country: 2017 VS 2020 VS 2027

III. MARKET ANALYSIS

  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
    • Market Overview
    • CCS Market Overview
    • EXHIBIT 9: Carbon dioxide Emissions from Energy Consumption in the U.S: 1990-2019
    • Major LSIPs in Development Stage in the US
    • Government Initiatives on CCS
    • COVID-19 Impact on Carbon Capture
    • Market Analytics
    • TABLE 25: Carbon Capture and Storage Market in US$ Thousand in the United States by Technology: 2020-2027
    • TABLE 26: United States Carbon Capture and Storage Market Retrospective Analysis in US$ Thousand by Technology: 2017-2019
    • TABLE 27: United States Carbon Capture and Storage Market Share Breakdown by Technology: 2017 VS 2020 VS 2027
    • TABLE 28: United States Carbon Capture and Storage Latent Demand Forecasts in US$ Thousand by Application: 2020 to 2027
    • TABLE 29: Carbon Capture and Storage Historic Demand Patterns in the United States by Application in US$ Thousand for 2017-2019
    • TABLE 30: Carbon Capture and Storage Market Share Breakdown in the United States by Application: 2017 VS 2020 VS 2027
  • CANADA
    • Market Overview
    • Major CCS Projects in Canada
    • Relevance of CCS Deployment in Canadian Production and Upgrading of Oil Sands
    • Market Analytics
    • TABLE 31: Carbon Capture and Storage Market Analysis in Canada in US$ Thousand by Technology: 2020-2027
    • TABLE 32: Carbon Capture and Storage Market in Canada: Historic Review in US$ Thousand by Technology for the Period 2017-2019
    • TABLE 33: Canadian Carbon Capture and Storage Market Share Breakdown by Technology: 2017 VS 2020 VS 2027
    • TABLE 34: Canadian Carbon Capture and Storage Market Quantitative Demand Analysis in US$ Thousand by Application: 2020 to 2027
    • TABLE 35: Carbon Capture and Storage Market in Canada: Summarization of Historic Demand Patterns in US$ Thousand by Application for 2017-2019
    • TABLE 36: Canadian Carbon Capture and Storage Market Share Analysis by Application: 2017 VS 2020 VS 2027
  • JAPAN
    • Market Overview
    • Market Analytics
    • TABLE 37: Japanese Medium & Long-Term Outlook for Carbon Capture and Storage Market in US$ Thousand by Technology: 2020-2027
    • TABLE 38: Carbon Capture and Storage Market in Japan in US$ Thousand by Technology: 2017-2019
    • TABLE 39: Japanese Carbon Capture and Storage Market Percentage Share Distribution by Technology: 2017 VS 2020 VS 2027
    • TABLE 40: Japanese Demand Estimates and Forecasts for Carbon Capture and Storage in US$ Thousand by Application: 2020 to 2027
    • TABLE 41: Japanese Carbon Capture and Storage Market in US$ Thousand by Application: 2017-2019
    • TABLE 42: Carbon Capture and Storage Market Share Shift in Japan by Application: 2017 VS 2020 VS 2027
  • CHINA
    • Market Overview
    • China Poised to Make Significant Strides in CCS
    • Major LSIPs in China
    • Market Analytics
    • TABLE 43: Carbon Capture and Storage Market Estimates and Forecasts in China in US$ Thousand by Technology: 2020-2027
    • TABLE 44: Chinese Carbon Capture and Storage Retrospective Market Scenario in US$ Thousand by Technology: 2017-2019
    • TABLE 45: Carbon Capture and Storage Market in China: Percentage Share Analysis by Technology for 2017, 2020, and 2027
    • TABLE 46: Chinese Demand for Carbon Capture and Storage in US$ Thousand by Application: 2020 to 2027
    • TABLE 47: Carbon Capture and Storage Market Review in China in US$ Thousand by Application: 2017-2019
    • TABLE 48: Chinese Carbon Capture and Storage Market Share Breakdown by Application: 2017 VS 2020 VS 2027
  • EUROPE
    • Market Overview
    • Major LSIPs in Europe
    • The CCS Directive: Establishing a Legal Framework for CCS in Europe
    • Europe Unveils Economic Response Recovery Proposal amid Covid-19 Crisis
    • Market Analytics
    • TABLE 49: European Carbon Capture and Storage Market Demand Scenario in US$ Thousand by Region/Country: 2020-2027
    • TABLE 50: Carbon Capture and Storage Market in Europe: A Historic Market Perspective in US$ Thousand by Region/Country for the Period 2017-2019
    • TABLE 51: European Carbon Capture and Storage Market Share Shift by Region/Country: 2017 VS 2020 VS 2027
    • TABLE 52: European Carbon Capture and Storage Market Assessment in US$ Thousand by Technology: 2020-2027
    • TABLE 53: European Carbon Capture and Storage Historic Market Review in US$ Thousand by Technology: 2017-2019
    • TABLE 54: Carbon Capture and Storage Market in Europe: Percentage Breakdown of Sales by Technology for 2017, 2020, and 2027
    • TABLE 55: European Carbon Capture and Storage Addressable Market Opportunity in US$ Thousand by Application: 2020-2027
    • TABLE 56: Carbon Capture and Storage Market in Europe: Summarization of Historic Demand in US$ Thousand by Application for the Period 2017-2019
    • TABLE 57: European Carbon Capture and Storage Market Share Analysis by Application: 2017 VS 2020 VS 2027
  • FRANCE
    • TABLE 58: French Carbon Capture and Storage Market Estimates and Projections in US$ Thousand by Technology: 2020-2027
    • TABLE 59: French Carbon Capture and Storage Historic Market Analysis in US$ Thousand by Technology: 2017-2019
    • TABLE 60: French Carbon Capture and Storage Market Share Breakdown by Technology: 2017 VS 2020 VS 2027
    • TABLE 61: Carbon Capture and Storage Quantitative Demand Analysis in France in US$ Thousand by Application: 2020-2027
    • TABLE 62: French Carbon Capture and Storage Historic Market Review in US$ Thousand by Application: 2017-2019
    • TABLE 63: French Carbon Capture and Storage Market Share Analysis: A 17-Year Perspective by Application for 2017, 2020, and 2027
  • GERMANY
    • TABLE 64: German Carbon Capture and Storage Latent Demand Forecasts in US$ Thousand by Technology: 2020-2027
    • TABLE 65: Carbon Capture and Storage Market in Germany: A Historic Perspective by Technology in US$ Thousand for the Period 2017-2019
    • TABLE 66: German Carbon Capture and Storage Market Share Breakdown by Technology: 2017 VS 2020 VS 2027
    • TABLE 67: Carbon Capture and Storage Market in Germany: Annual Sales Estimates and Forecasts in US$ Thousand by Application for the Period 2020-2027
    • TABLE 68: German Carbon Capture and Storage Market in Retrospect in US$ Thousand by Application: 2017-2019
    • TABLE 69: Carbon Capture and Storage Market Share Distribution in Germany by Application: 2017 VS 2020 VS 2027
  • ITALY
    • TABLE 70: Carbon Capture and Storage Market Estimates and Forecasts in Italy in US$ Thousand by Technology: 2020-2027
    • TABLE 71: Italian Carbon Capture and Storage Retrospective Market Scenario in US$ Thousand by Technology: 2017-2019
    • TABLE 72: Carbon Capture and Storage Market in Italy: Percentage Share Analysis by Technology for 2017, 2020, and 2027
    • TABLE 73: Italian Demand for Carbon Capture and Storage in US$ Thousand by Application: 2020 to 2027
    • TABLE 74: Carbon Capture and Storage Market Review in Italy in US$ Thousand by Application: 2017-2019
    • TABLE 75: Italian Carbon Capture and Storage Market Share Breakdown by Application: 2017 VS 2020 VS 2027
  • UNITED KINGDOM
    • TABLE 76: United Kingdom Medium & Long-Term Outlook for Carbon Capture and Storage Market in US$ Thousand by Technology: 2020-2027
    • TABLE 77: Carbon Capture and Storage Market in the United Kingdom in US$ Thousand by Technology: 2017-2019
    • TABLE 78: United Kingdom Carbon Capture and Storage Market Percentage Share Distribution by Technology: 2017 VS 2020 VS 2027
    • TABLE 79: United Kingdom Demand Estimates and Forecasts for Carbon Capture and Storage in US$ Thousand by Application: 2020 to 2027
    • TABLE 80: United Kingdom Carbon Capture and Storage Market in US$ Thousand by Application: 2017-2019
    • TABLE 81: Carbon Capture and Storage Market Share Shift in the United Kingdom by Application: 2017 VS 2020 VS 2027
  • REST OF EUROPE
    • TABLE 82: Rest of Europe Carbon Capture and Storage Market Assessment in US$ Thousand by Technology: 2020-2027
    • TABLE 83: Rest of Europe Carbon Capture and Storage Historic Market Review in US$ Thousand by Technology: 2017-2019
    • TABLE 84: Carbon Capture and Storage Market in Rest of Europe: Percentage Breakdown of Sales by Technology for 2017, 2020, and 2027
    • TABLE 85: Rest of Europe Carbon Capture and Storage Addressable Market Opportunity in US$ Thousand by Application: 2020-2027
    • TABLE 86: Carbon Capture and Storage Market in Rest of Europe: Summarization of Historic Demand in US$ Thousand by Application for the Period 2017-2019
    • TABLE 87: Rest of Europe Carbon Capture and Storage Market Share Analysis by Application: 2017 VS 2020 VS 2027
  • ASIA-PACIFIC
    • Australia
    • Overview of Major CCS Projects in Australia
    • India
    • Market Analytics
    • TABLE 88: Asia-Pacific Carbon Capture and Storage Market Estimates and Projections in US$ Thousand by Technology: 2020-2027
    • TABLE 89: Asia-Pacific Carbon Capture and Storage Historic Market Analysis in US$ Thousand by Technology: 2017-2019
    • TABLE 90: Asia-Pacific Carbon Capture and Storage Historic Market Analysis in US$ Thousand by Technology: 2017 VS 2020 VS 2027
    • TABLE 91: Carbon Capture and Storage Quantitative Demand Analysis in Asia-Pacific in US$ Thousand by Application: 2020-2027
    • TABLE 92: Asia-Pacific Carbon Capture and Storage Historic Market Review in US$ Thousand by Application: 2017-2019
    • TABLE 93: Asia-Pacific Carbon Capture and Storage Market Share Analysis: A 17-Year Perspective by Application for 2017, 2020, and 2027
  • REST OF WORLD
    • The Middle East
    • Market Analytics
    • TABLE 94: Carbon Capture and Storage Market Analysis in Rest of World in US$ Thousand by Technology: 2020-2027
    • TABLE 95: Carbon Capture and Storage Market in Rest of World: Historic Review in US$ Thousand by Technology for the Period 2017-2019
    • TABLE 96: Rest of World Carbon Capture and Storage Market Share Breakdown by Technology: 2017 VS 2020 VS 2027
    • TABLE 97: Rest of World Carbon Capture and Storage Market Quantitative Demand Analysis in US$ Thousand by Application: 2020 to 2027
    • TABLE 98: Carbon Capture and Storage Market in Rest of World: Summarization of Historic Demand Patterns in US$ Thousand by Application for 2017-2019
    • TABLE 99: Rest of World Carbon Capture and Storage Market Share Analysis by Application: 2017 VS 2020 VS 2027

IV. COMPETITION

  • Total Companies Profiled: 58
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