Carbon Capture, Utilization, and Storage Revenue by Vertical
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Carbon Capture, Utilization, and Storage
Market Data | 05 Aug 2024 | MD-CCUS-24
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The use of carbon capture in the oil & gas industry is one of the main market drivers as companies look to minimize the industry’s significant annual emissions. In 2023, the majority of Carbon Dioxide (CO2) extracted from the atmosphere globally was from projects in natural gas processing plants. The natural gas processing sector is expected to increase from US$2.86 billion in 2024 to US$3.06 billion in 2030 at a CAGR of 1.1%. CCUS projects have high potential to decarbonize the cement industry with some projects achieving 90% CO2 removal from cement operations. The cement industry is expected to see the fastest growth across the forecast period at a CAGR of 41.1%.
