Carbon capture, utilization, and storage (CCUS) technologies are essential for decarbonization, offering a pathway to reduce carbon dioxide (CO2) emissions from existing fossil fuel assets and enable the growth of sustainable industrial sectors. CCUS technologies capture CO2 from waste gases and the atmosphere, storing it underground or using it for industrial applications. IDTechEx forecasts that CCUS capture capacity will reach 2.5 gigatonnes per annum by 2045.
Historically, the high cost of CO2 capture has hindered widespread CCUS deployment. However, the development of innovative capture technologies, including emerging solvents, sorbents, membranes, and cryogenic methods, is lowering costs. Meanwhile, government carbon pricing policies and emerging CO2 utilization applications are driving economic incentives for CCUS.
IDTechEx analysis shows that profitable carbon capture is already possible for several sectors. Carbon pricing is expected to increase globally, further accelerating the market potential of CCUS.
CCUS projects have traditionally used a full-chain approach, where a single entity manages the entire process. However, a fragmented CCUS business model is emerging, with oil and gas companies leveraging their expertise and infrastructure to provide partial chain CO2 transport and storage services.
Within industry, CCUS provides a retrofittable means of decarbonizing existing industrial assets. While other green solutions are being developed, CCUS offers ready-now technologies and can deliver emission reductions quickly. For example, CCUS can be used to rapidly decarbonize existing power stations while the transition to renewable energy sources takes place.
Emerging sustainable sectors, such as bioenergy and blue hydrogen, can also benefit from CCUS. Bioenergy with carbon capture offers further emission reductions for industrial processes, while CCUS can accelerate hydrogen production from fossil fuels until greener electrolyzer technology matures.
The new IDTechEx report, “Carbon Capture, Utilization, and Storage (CCUS) Markets 2025-2045: Technologies, Market Forecasts, and Players,” examines which industrial sectors hold the greatest opportunity for CCUS deployment and analyzes sector-specific drivers and barriers. The report provides a comprehensive outlook of the CCUS industry and carbon markets, with an in-depth analysis of the technological, economic, regulatory, and environmental factors shaping the industry over the next 20 years.
The report evaluates carbon capture, utilization, and storage technologies, discussing each area’s latest advancements, key players, opportunities, and barriers. It also includes a 20-year granular forecast for CCUS CO2 capture capacity, segmented by CO2 endpoint, point-source vs. DAC, and broken down into five industrial sectors. The report features exclusive analysis, over 80 interview-based company profiles, and coverage of 350+ companies.
