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Global CO2 Utilization Market Study

Publisher Worley Insights
Published Sep 01, 2025
Length 93 Pages
SKU # WOI20976385

Description

The global carbon capture, utilization, and storage market represents a critical enabler of industrial decarbonization, with approximately 49 Mtpa of CO₂ captured globally in 2024. Current deployment is concentrated in power generation, industrial processing, and enhanced oil recovery, with storage accounting for the majority of captured volumes. Despite increasing project announcements, overall capture capacity remains modest relative to global emissions.

North America currently leads CCUS deployment due to established infrastructure and supportive policy frameworks, while Asia is emerging as the primary growth region through industrial and hydrogen linked applications. The study evaluates utilization pathways, including synthetic fuels, chemicals, and building materials, alongside large scale geological storage. Technology maturity and capital intensity continue to shape project economics and deployment pace.

Global CO₂ capture volumes are projected to increase to approximately 410 Mtpa by 2030 and exceed 820 Mtpa by 2040. While utilization remains a secondary outlet relative to storage, its role expands in long term energy and materials systems. The outlook underscores CCUS as a necessary complement to electrification, particularly for hard to abate sectors, with scale up dependent on infrastructure development and sustained policy support.

Table of Contents

93 Pages
1. Executive Summary
1.1 Key Insights
1.2 Market Size and Growth Projections
1.3 Strategic Developments
1.4 Strategic Implications for Stakeholders
2. Introduction
2.1 Definition
2.1.1 CCUS Value Chain
2.2 Scope
2.2.1 Climate Change Mitigation
2.2.2 Support for Net-Zero Targets and Negative Emissions
2.2.3 Enabling Low-Carbon Hydrogen Production
2.2.4 Economic Development and Industrial Innovation
2.2.5 Policy and Infrastructure Development
2.2.6 Environmental Integrity and Risk Management
2.3 CCUS as a Climate Mitigation Tool
2.4 CCUS in the Transition to Net-Zero Emissions
2.4.1 The Imperative Role of CCUS
2.4.2 Analytical Framework and Scenario Modelling
2.4.3 CCUS in Power Generation
2.4.4 CCUS in Hard-to-Abate Sectors
2.4.5 Accelerating CCUS Deployment
3. Analysis of Sector-wise CO2 Emissions
3.1 Main Sources of CO2 Emissions
3.1.1 Impact of CO2 Emissions
3.2 Analysis
3.2.1 Emissions by Sector
3.2.2 CO2 Emissions by Country
4. Technology Landscape
4.1 Introduction to Carbon Capture Technologies
4.2 CO2 Capture Strategies
4.2.1 Post-combustion Capture
4.2.2 Pre-combustion Capture
4.2.3 Oxy-fuel Combustion
4.2.4 Direct Air Capture
4.2.5 Comparative Overview of CO2 Capture Technologies
4.3 CO2 Capture Techniques (Separation Technologies)
4.4 Technology Readiness Levels (TRLs) of CO2 Capture Technologies and Separation Technologies
4.4.1 TRL Assessment of CO2 Capture Technologies
4.4.2 TRL Assessment of CO2 Separation Techniques
4.5 CO2 Utilization Technologies
4.5.1 Enhanced Oil Recovery
4.5.2 Carbon Mineralization and Concrete Curing
4.5.3 Synthetic Fuels and Chemicals
4.5.4 Algae Cultivation and Bio-based Products
4.5.5 CO2-Based Polymers and Plastics
4.5.6 Carbonated Products and Industrial Uses
4.5.7 CO2 in Building Materials Beyond Concrete
4.6 CO2 Storage Methods
4.6.1 Introduction to CO2 Storage
4.6.2 Geological Storage Options
4.6.3 CO2 Trapping Mechanisms
4.6.4 Monitoring, Verification and Risk Management
4.6.5 Storage Capacity and Global Readiness
4.6.6 Challenges
4.6.7 Role in Achieving Net-Zero Emissions
5. Global CCUS Capacity
5.1 CCUS Capacity by Region
5.2 CCUS capacity by Country
5.3 CCUS capacity by End Use
5.4 CCUS capacity by Technology
5.5 CCUS Capacity by Industry
6. CO2 Capture Market Outlook
6.1 CO2 Capture Global Market
6.2 CO2 Capture Regional Market Balance
6.2.1 North America Market Balance
6.2.2 Latin America Market Balance
6.2.3 Western Europe Market Balance
6.2.4 Central & Eastern Europe Market Balance
6.2.5 Asia Market Balance
6.2.6 Middle East Market Balance
6.2.7 Africa Market Balance
6.2.8 Oceania Market Balance
7. Major Industry Players
7.1 Carbon Capture Technology Providers
7.2 Direct Air Capture Technology Providers
7.3 CO2 Utilization Technology Providers
7.4 CO2 Storage and Transport Providers
7.5 Project Developers
7.5.1 Oil & Gas Majors
7.5.2 Engineering and Technology Firms
7.5.3 Emerging Startups
8. Policy and Regulatory Environment
8.1 Key Global Frameworks
8.1.1 The Paris Agreement
8.1.2 IPCC Guidance
8.2 Regional Incentives and Support Mechanisms
8.2.1 United States: Section 45Q Tax Credit
8.2.2 European Union: Innovation Fund and Regulatory Frameworks
8.2.3 United Kingdom: CCUS Clusters and Contracts for Difference (CfD)
8.2.4 Other Countries
8.3 National CO2 Capture Targets
8.4 Regulatory Bottlenecks and Permitting Issues
8.4.1 Permitting Complexity and Timeline
8.4.2 CO2 Transport and Pipeline Regulations
8.4.3 Storage Site Liability and Post-Closure Stewardship
8.4.4 Public Engagement and Social License
8.5 Role of Voluntary and Compliance Carbon Markets
8.5.1 Voluntary Carbon Markets (VCMs)
8.5.2 Compliance Carbon Markets
8.6 Comparative Analysis
9. Deployment Status and Project Landscape
9.1 Global Deployment Status of CCUS
9.2 Sector-Wise Landscape of CCUS Projects
9.3 Regional Deployment Landscape
9.4 CO2 Utilization vs. Storage Pathways
9.5 Operational and announced projects:
9.5.1 Upcoming CCUS Projects
9.5.2 Active CCUS Projects
10. Economic and Financial Analysis of CCUS
10.1 Cost Analysis
10.2 Revenue Analysis
10.3 Financial Analysis
10.4 Economic Impact Analysis
10.5 Technology Development and Innovation
10.6 Capital and Operating Costs in a CO2 Capture Facility
10.6.1 Capital Costs
10.6.2 Operating Costs
10.6.3 Design Trade-offs
10.6.4 Capex of Upcoming CCUS Projects
11. Current Status and Future Outlook
11.1 Global CO2 Geological Storage Capacity
11.2 Challenges
12. Key Obstacles to Scaling CCUS Technologies
12.1 Technical Readiness and Scalability
12.1.1 Technology Maturity
12.1.2 Expansion Barriers
12.2 Public Perception and ESG Concerns
12.2.1 Communal and Social Resistance
12.2.2 ESG Investment Risks
12.3 Infrastructure Constraints
12.3.1 Transport Limitations
12.4 Policy Uncertainty and Market Volatility
12.4.1 Inadequate and Inconsistent Policy Frameworks
12.4.2 Carbon Pricing and Market Instability
12.5 Economic and Financial Barriers to CCUS Deployment
12.5.1 High Capital and Operational Costs
12.5.2 Limited Revenue and Market Uncertainty
12.5.3 Financing Constraints and Investment Risks
12.5.4 Policy and Regulatory Gaps
12.6 Competition from Alternative Decarbonization Pathways
12.7 Workforce and Institutional Capacity Challenges
12.8 Research and Innovation Deficits
12.9 Geological and Storage Uncertainties
13. Key Industry Profiles
13.1 Petrobras
13.2 Exxon Mobil Corporation
13.3 Occidental Petroleum Corp
14. Conclusion
14.1 Summary of Key Insights
14.1.1 Global CCUS Market Outlook
14.1.2 Technological Outlook
14.1.3 Global CO2 Emissions
14.1.4 CO2 Utilization
14.1.5 Geological Storage
14.2 Tactical and Long-Term Strategies
14.3 Risk Mitigation and Resilience Planning
Appendices
Appendix A. Abbreviations
List of Tables
Table 3 1: Comparative Overview of CO2 Capture Technologies
Table 3 2: TRL Assessment of CO2 Capture Technologies
Table 3 3: TRL Assessment of CO2 Separation Techniques
Table 4 1: Global CCUS capacity by region 2010 to 2040, Mtpy
Table 4 2: Major CCUS Countries by capacity, Mtpy
Table 4 3: 2024 CCUS Capacity by End Use, Mtpy
Table 4 4: 2024 CCUS Capacity by Technology, Mtpy
Table 4 5: 2024 CCUS Capacity by Industry, Mtpy
Table 5 1: Global Market Balance from 2010 to 2040
Table 5 2: North America Market Balance from 2010 to 2040
Table 5 3: Latin America Market Balance (2010 to 2040)
Table 5 4: Western Europe Market Balance from 2010 to 2040
Table 5 5: Central & Eastern Europe market Balance from 2010 to 2040
Table 5 6: Asia market balance from 2010 to 2040
Table 5 7: Middle East market balance from 2010 to 2040
Table 5 8: Africa Market Balance from 2010 to 2040
Table 5 9: Oceania market balance from 2010 to 2040
Table 8 1: Major Upcoming CCUS Projects by Capacity
Table 8 2: Major Active CCUS Projects by Capacity
List of Figures
Figure 4 1: Global CO2 Emissions by Sector
Figure 4 2: CO2 Emissions by Country, 2024
Figure 5 1: CO2 Utilization Pathways
Figure 5 2: Geological Storage of CO2
Figure 6 1: Global CCUS capacity by region, 2024
Figure 6 2: Global CCUS Capacity by Region, 2040
Figure 6 3: CCUS capacity by Country, 2024 (Mtpy)
Figure 6 4: Global CCUS capacity by End Use, 2024
Figure 6 5: Regional CCUS capacity by End Use, 2024
Figure 6 6: Global CCUS Capacity by Technology, 2024
Figure 6 7: Regional CCUS capacity by Technology, 2024
Figure 6 8: Global CCUS Capacity by Industry, 2024
Figure 6 9: Regional CCUS capacity by Industry, 2024
Figure 7 1: CO2 Capture Global Market Balance
Figure 7 2: CO2 Capture North America Market Balance
Figure 7 3: CO2 Capture Latin America Market Balance
Figure 7 4: CO2 Capture Western Europe Market Balance
Figure 7 5: CO2 Capture Central & Eastern Europe Market Balance
Figure 7 6: CO2 Capture Asia Market Balance
Figure 7 7: CO2 Capture Middle East Market Balance
Figure 7 8: CO2 Capture Africa Market Balance
Figure 7 9: CO2 Capture Oceania Market Balance
Figure 8 1: Major Technology Providers For CCUS
Figure 14 1: Petrobras CCUS capacity, CO2 Captured 2020-2024
Figure 14 2: ExxonMobil CCUS capacity, CO2 Captured 2020-2024
Figure 14 3: Occidental Petroleum Corp CCUS capacity, CO2 Captured 2020-2024

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