Global Post Combustion Carbon Capture Storage Market Overview
As per MRFR analysis, the Post Combustion Carbon Capture Storage Market Size was estimated at 2.18 (USD Billion) in 2022. The Post Combustion Carbon Capture Storage Market Industry is expected to grow from 2.52 (USD Billion) in 2023 to 9.5 (USD Billion) by 2032. The Post Combustion Carbon Capture Storage Market CAGR (growth rate) is expected to be around 15.87% during the forecast period (2024 - 2032).
Key Post Combustion Carbon Capture Storage Market Trends Highlighted
Key Market Drivers: The climate change awareness campaigns, the policies of the governments to promote the reduction of carbon emissions, as well as the progress in carbon capture technologies are the key factors that give a push to this market. Avenues to Be Harbored and Engaged: The growing trend whereby organizations are making efforts towards decarbonization initiatives, particularly within the energy and industries, offers good markets for post combustion carbon capture technologies. This is because the growing trend of sustainable products and services requires and market, for example, combating climate change through carbon capture in the supply chain. Recent Paradigm Shifts: More and more companies look to integrate wind and solar power with carbon capture features to enable more environmentally friendly power generation. There is also a growing desire to utilize carbon capture technologies through large-scale Carbon Capture and Storage (CCS) projects, which capture and store huge quantities of carbon dioxide.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Post Combustion Carbon Capture Storage Market Drivers
Increasing Demand for Carbon Capture and Storage Solutions
With climbing amounts of carbon dioxide emissions owing to industrialization and urbanization, it has become imperative to develop and implement carbon capture and storage (CCS) technologies. Climate change has pushed many countries to introduce effective policies limiting carbon dioxide and other emissions. In particular, the process of trapping more carbon dioxide gases following the combustion of fossil fuels is gaining popularity as it is aimed at using the existing energy-generating stations and industrial structures. Now, coal has been virtually eliminated from British power generation, and hydro generation has recovered so much in the year since the increased use of CCS is predicted to augment the growth of the Post Combustion Carbon Capture Storage Market Industry.
Government Regulations and Incentives
Various new technologies and approaches are currently being evolved in the processes of capturing carbon dioxide from flue gas obtained after the combustion of fossil fuels. These include the development of low-cost, more efficient solvents for capture, new and better capture processes, and new capture system materials. As the technology keeps evolving, it is estimated that the price of CCS will gradually reduce, thus making it easy for power generation plants and industries to embrace. The factors of decreasing costs and increasing effectiveness of post-combustion carbon capture technologies are anticipated to boost the growth of the Post Combustion Carbon Capture Storage Market Industry.
Technological Advancements and Cost Reductions
Ongoing research and development efforts are leading to advancements in post-combustion carbon capture technologies. These advancements include the development of more efficient and cost-effective capture solvents, improved capture processes, and innovative materials for capture systems. As technology continues to improve, the cost of CCS is expected to decrease, making it more accessible for power plants and industries to adopt. The declining costs and increasing efficiency of post-combustion carbon capture technologies are expected to contribute to the growth of the Post Combustion Carbon Capture Storage Market Industry.
Post Combustion Carbon Capture Storage Market Segment Insights
Post Combustion Carbon Capture Storage Market Technology Insights
The Post Combustion Carbon Capture Storage Market is segmented into various technologies, including oxy-fuel combustion, post-combustion capture, and pre-combustion capture. Each technology offers distinct advantages and challenges, influencing the overall market dynamics. Oxy-fuel Combustion technology involves burning fuel in pure oxygen instead of air, resulting in a concentrated stream of carbon dioxide (CO2) that can be easily captured. This technology is gaining traction due to its high CO2 capture efficiency and relatively low energy requirements.Post-combustion Capture technology involves capturing CO2 from the flue gas produced by conventional fossil fuel power plants. This technology is widely used due to its adaptability to existing power plants. However, it requires significant energy input for CO2 separation, leading to reduced power plant efficiency. Pre-combustion Capture technology involves converting the fuel into a hydrogen-rich gas before combustion. The CO2 is then separated from the hydrogen stream, resulting in a clean fuel source. This technology offers high CO2 capture efficiency but requires complex and expensive equipment.In 2023, the Post Combustion Carbon Capture Storage Market for oxy-fuel combustion is valued at approximately USD 250 million and is projected to reach USD 1.2 billion by 2030, exhibiting a CAGR of 18.5%. The Post Combustion Carbon Capture Storage Market for post-combustion capture is valued at approximately USD 1.5 billion in 2023 and is projected to reach USD 6 billion by 2030, exhibiting a CAGR of 16.3%. The Post Combustion Carbon Capture Storage Market for pre-combustion capture is valued at approximately USD 750 million in 2023 and is projected to reach USD 2.3 billion by 2030, exhibiting a CAGR of 15.2%.The growth of the Post Combustion Carbon Capture Storage Market is driven by increasing concerns over climate change, stringent government regulations, and technological advancements. The adoption of post-combustion capture technology in existing power plants is expected to contribute significantly to market growth. Additionally, technological advancements in oxy-fuel combustion and pre-combustion capture technologies are anticipated to enhance their efficiency and cost-effectiveness, further propelling market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Post Combustion Carbon Capture Storage Market Application Insights
The application segment of the Post Combustion Carbon Capture Storage Market is categorized into Power Generation, Industrial Processes, and Others. Power Generation is expected to dominate the market with a revenue of USD 4.5 billion in 2024, owing to the increasing demand for clean energy and stringent environmental regulations. Industrial Processes, such as cement and steel manufacturing, are also significant contributors to carbon emissions, driving the demand for carbon capture technologies. The Other segment includes applications such as hydrogen production and enhanced oil recovery, which are gaining traction due to their potential to reduce carbon footprint and enhance resource utilization.
Post Combustion Carbon Capture Storage Market CO2 Capture Amount Insights
The CO2 Capture Amount segment plays a crucial role in the Post Combustion Carbon Capture Storage Market. It is categorized into three sub-segments: Small-Scale (less than 100,000 tons per year), Medium-Scale (100,000 to 1 million tons per year), and Large-Scale (over 1 million tons per year). The Large-Scale segment dominated the market in 2023, accounting for approximately 80% of the Post Combustion Carbon Capture Storage Market revenue. This dominance is attributed to the growing need for large-scale carbon capture and storage projects to mitigate carbon emissions from major industrial sources.The Medium-Scale segment is projected to witness significant growth in the coming years, driven by increasing investments in carbon capture and storage technologies for mid-sized industrial facilities. The Small-Scale segment, though currently holding a smaller market share, is expected to gain traction as smaller-scale carbon capture solutions become more cost-effective and accessible.
Post Combustion Carbon Capture Storage Market Regional Insights
The Post Combustion Carbon Capture Storage Market is segmented into North America, Europe, APAC, South America, and MEA. North America is expected to dominate the market, accounting for a significant share of the global revenue in 2023. Stringent government regulations and increasing adoption of carbon capture and storage technologies are driving the market growth in this region. Europe is another key market, owing to the presence of favorable government policies and a strong focus on reducing carbon emissions. The APAC region is expected to witness significant growth, driven by increasing industrialization and growing awareness about climate change.South America and MEA are expected to contribute a smaller share of the global market, but they offer potential growth opportunities due to increasing investments in carbon capture and storage projects.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Post Combustion Carbon Capture Storage Market Key Players And Competitive Insights:
Major players in Post Combustion Carbon Capture Storage Market industry are constantly looking for ways to improve their product offerings and gain a competitive edge. They are investing in research and development to develop innovative and more efficient technologies. For instance, in 2023, ExxonMobil announced a $100 million investment in a new carbon capture and storage project in Wyoming. Leading Post Combustion Carbon Capture Storage Market players are also forming partnerships and collaborations to share knowledge and resources. In 2023, Chevron and Shell announced a partnership to develop a carbon capture and storage project in the Gulf of Mexico. The Post Combustion Carbon Capture Storage Market industry is expected to continue to be competitive, with major players vying for market share.One of the leading companies in the Post Combustion Carbon Capture Storage Market is Shell. The company has a strong track record in the energy industry and is a major investor in carbon capture and storage technology. Shell is also a member of the Carbon Capture and Storage Association, which is a global industry association that promotes the development and deployment of carbon capture and storage technology. Another leading company in the Post Combustion Carbon Capture Storage Market is Chevron. The company has a long history of innovation in the energy industry and is a major investor in carbon capture and storage technology. Chevron is also a member of the Carbon Capture and Storage Association.A major competitor in the Post Combustion Carbon Capture Storage Market is ExxonMobil. The company is a major investor in carbon capture and storage technology and has a number of projects in development. ExxonMobil is also a member of the Carbon Capture and Storage Association. Another major competitor in the Post Combustion Carbon Capture Storage Market is BP. The company is a major investor in carbon capture and storage technology and has a number of projects in development. BP is also a member of the Carbon Capture and Storage Association.
Key Companies in the Post Combustion Carbon Capture Storage Market Include:
- Shell plc.
- CCapture
- Equinor ASA
- Fluor Corporation.
- Baker Hughes Company.
- Exxon Mobile Corporation.
- Worley Limited.
- Mitsubishi Heavy Industries, Ltd.
- Chevron Corporation.
- Sumitomo Chemical Co., Ltd.
- Xebec Adsorption Inc.
- Honeywell International Inc.
- Climeworks AG.
- Johnson Matthey plc.
- Total Energies SE.
Post Combustion Carbon Capture Storage Market Industry Developments
The global post combustion carbon capture storage (CCS) market is projected to grow from USD 2.52 billion in 2023 to USD 9.5 billion by 2032, exhibiting a CAGR of 15.87% during the forecast period. This growth can be attributed to the rising concerns over climate change and the increasing adoption of CCS technologies by industries to reduce their carbon footprint.Some recent developments in the post combustion CCS market include: In 2023, the International Energy Agency (IEA) released a report highlighting the importance of CCS technologies in achieving net zero emissions by 2050. The report emphasized the need for increased investment and policy support for CCS projects. In 2024, the United States Department of Energy announced funding for several CCS projects, including a project to develop a large-scale CCS facility in Texas. This funding demonstrates the growing support for CCS technologies in the United States. Several major oil and gas companies have announced plans to invest in CCS projects. For example, in 2023, Shell announced plans to build a CCS facility in the Netherlands, while BP announced plans to invest in a CCS project in the United Kingdom. These announcements indicate the increasing recognition of the importance of CCS technologies by the energy industry.
Post Combustion Carbon Capture Storage Market Segmentation Insights
- Post Combustion Carbon Capture Storage Market Technology Outlook
- Oxy-fuel Combustion
- Post-combustion Capture
- Pre-combustion Capture
- Post Combustion Carbon Capture Storage Market Application Outlook
- Power Generation
- Industrial Processes
- Other
- Post Combustion Carbon Capture Storage Market CO2 Capture Amount Outlook
- Small-Scale (less than 100,000 tons per year)
- Medium-Scale (100,000 to 1 million tons per year)
- Large-Scale (over 1 million tons per year)
- Post Combustion Carbon Capture Storage Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
2.18 (USD Billion) |
| Market Size 2023 |
2.52 (USD Billion) |
| Market Size 2032 |
9.5 USD Billion) |
| Compound Annual Growth Rate (CAGR) |
15.87% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Shell plc., CCapture, Equinor ASA, Fluor Corporation., Baker Hughes Company, Exxon Mobile Corporation, Worley Limited, Mitsubishi Heavy Industries, Ltd., Chevron Corporation, Sumitomo Chemical Co., Ltd, Xebec Adsorption Inc., Honeywell International Inc., Climeworks AG, Johnson Matthey plc., Total Energies SE |
| Segments Covered |
Technology, Application, CO2 Capture Amount, Regional |
| Key Market Opportunities |
Increased government incentives, growing awareness of climate change technological advancements, rising demand from various industries, and government mandates for emissions reduction. |
| Key Market Dynamics |
Emission reduction targets Technological advancements, Industry decarbonization, Government incentives Innovation in carbon capture technologies. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Post Combustion Carbon Capture Storage Market was valued at USD 2.52 billion in 2023 and is expected to reach a value of USD 9.5 billion by 2032, exhibiting a CAGR of 15.87% during the forecast period.
North America is expected to hold the largest market share due to the presence of stringent environmental regulations, government incentives, and early adoption of carbon capture technologies.
Post Combustion Carbon Capture Storage is primarily used in power plants, industrial facilities, and other industries that emit significant amounts of carbon dioxide. It involves capturing CO2 from flue gases and storing it underground or using it for enhanced oil recovery.
Major players in the Post Combustion Carbon Capture Storage Market include Mitsubishi Heavy Industries, Shell, ExxonMobil, Chevron, and Baker Hughes.
The rising concerns about climate change and global warming, increasing adoption of decarbonization strategies, and technological advancements are driving the growth of the Post Combustion Carbon Capture Storage Market.
High costs associated with carbon capture and storage, technical limitations, and lack of infrastructure are some of the challenges faced by the Post Combustion Carbon Capture Storage Market.
The Post Combustion Carbon Capture Storage Market is expected to grow at a CAGR of 15.87% from 2024 to 2032.
Key trends in the Post Combustion Carbon Capture Storage Market include the development of more efficient and cost-effective technologies, increasing government support, and growing investments in carbon capture projects.
Post Combustion Carbon Capture Storage has the potential to significantly reduce greenhouse gas emissions and mitigate the effects of climate change by capturing and storing CO2 from industrial processes.
Opportunities for innovation in the Post Combustion Carbon Capture Storage Market include the development of novel materials, improved capture technologies, and more efficient storage solutions.
