CCUS Absorption Market Trends and Global Forecasts to 2035 - Rapid Adoption of Carbon-Cutting Tech Pushes CCUS Absorption to 23% CAGR - ResearchAndMarkets.com

The "CCUS Absorption Market, Till 2035: Distribution by Type of Absorption, Type of Absorption Stage, Type of Deployment, Type of Application, End Users and Geographical Regions: Industry Trends and Global Forecasts" report has been added to ResearchAndMarkets.com's offering.

The global CCUS absorption market size is estimated to grow from USD 1.58 billion in the current year to USD 12.56 billion by 2035, at a CAGR of 23.06% during the forecast period, till 2035.

Demand for CCUS within the industry is propelled by the growing acceptance of strategies aimed at reducing carbon emissions and greenhouse gases. Moreover, CCUS technology enhances the quality and pressures of gasoline and has played a vital role in the advancement of CO2 utilization methods. Additionally, integrating renewable energy with CCUS can be accomplished by retrofitting existing industrial and power facilities with these technologies.

The global market for CCUS absorption is anticipated to rise dramatically in the coming years, due to the swift expansion of government initiatives focused on managing industrial carbon emissions. Further, carbon capture methods are employed to address the effects of climate change by reducing CO2 emissions. Owing to the above mentioned factors, the CCUS absorption market is expected to grow significantly during the forecast period.

CCUS Absorption Market: Key Segments

Market Share by Type of Absorption

Based on type of absorption, the global CCUS absorption market is segmented into chemical absorption, hybrid, physical absorption. According to our estimates, currently, the chemical absorption segment captures the majority of the market share. Additionally, this segment is projected to experience a comparatively higher CAGR during the forecast period. This growth is largely due to its excellent capture efficiency and cost-effectiveness in comparison to other CCUS methods.

Market Share by Type of Absorption Stage

Based on type of absorption stage, the global CCUS absorption market is segmented into capture, storage, transport and utilization. According to our estimates, currently, the capture segment captures the majority of the market share, owing to the governmental efforts aimed at CCUS and strategies for reducing greenhouse gas emissions.

Market Share by Type of Deployment

Based on type of deployment, the global CCUS absorption market is segmented into commercialized, pilot / demonstration projects and research and development. According to our estimates, currently, the commercialized segment captures the majority of the market share. However, the pilot / demonstration project, is expected to grow at a higher CAGR during the forecast period.

Market Share by Type of Application

Based on type of application, the global CCUS absorption market is segmented into carbon capture and utilization, carbon sequestration and enhanced oil recovery (EOR). According to our estimates, currently, the carbon capture and utilization segment captures the majority of the market share. This trend can be attributed to their increasing efforts to mitigate climate change and improve carbon dioxide storage options.

On the other hand, the enhanced oil recovery segment is projected to grow at a higher CAGR during the forecast period. This growth is largely due to the application of carbon in gasoline to boost pressure and improve oil quality.

Market Share by End Users

Based on end users, the global CCUS absorption market is segmented into chemicals and refineries, manufacturing, oil and gas and power. According to our estimates, currently, the oil and gas segment captures the majority of the market share. This growth is attributed to their capacity for easy reuse and their role in reducing pollution. Further, the transformation of carbon into natural gas to enhance pressure and promote sustainable productivity has played a significant role in the growth of carbon capture technologies.

Market Share by Geographical Regions

Based on geographical regions, the CCUS absorption market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority share of the market. This dominance is largely due to the substantial oil and gas sector in the region, as well as government policies aimed at encouraging the reduction of greenhouse gas emissions.

On the other hand, Asia is anticipated to experience a higher CAGR during the forecast period. Key factors contributing to this growth include advancements in sustainable energy technologies.

CCUS Absorption Market: Research Coverage

The report on the CCUS absorption market features insights on various sections, including:

• Market Sizing and Opportunity Analysis: An in-depth analysis of the CCUS absorption market, focusing on key market segments, including [A] type of absorption, [B] type of absorption stage, [C] type of deployment, [D] type of application, [E] end users and [F] geographical regions.
• Competitive Landscape: A comprehensive analysis of the companies engaged in the CCUS absorption market, based on several relevant parameters, such as [A] year of establishment, [B] company size, [C] location of headquarters and [D] ownership structure.
• Company Profiles: Elaborate profiles of prominent players engaged in the CCUS absorption market, providing details on [A] location of headquarters, [B] company size, [C] company mission, [D] company footprint, [E] management team, [F] contact details, [G] financial information, [H] operating business segments, [I] CCUS absorption portfolio, [J] moat analysis, [K] recent developments, and an informed future outlook.
• Megatrends: An evaluation of ongoing megatrends in the CCUS absorption industry.
• Patent Analysis: An insightful analysis of patents filed / granted in the CCUS absorption domain, based on relevant parameters, including [A] type of patent, [B] patent publication year, [C] patent age and [D] leading players.
• Recent Developments: An overview of the recent developments made in the CCUS absorption market, along with analysis based on relevant parameters, including [A] year of initiative, [B] type of initiative, [C] geographical distribution and [D] most active players.
• Porter's Five Forces Analysis: An analysis of five competitive forces prevailing in the CCUS absorption market, including threats of new entrants, bargaining power of buyers, bargaining power of suppliers, threats of substitute products and rivalry among existing competitors.
• SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.
• Value Chain Analysis: A comprehensive analysis of the value chain, providing information on the different phases and stakeholders involved in the CCUS absorption market.

Key Questions Answered in this Report

• How many companies are currently engaged in CCUS absorption market?
• Which are the leading companies in this market?
• What factors are likely to influence the evolution of this market?
• What is the current and future market size?
• What is the CAGR of this market?
• How is the current and future market opportunity likely to be distributed across key market segments?

Reasons to Buy this Report

• The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
• Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
• The report offers stakeholders a comprehensive overview of the market, including key drivers, barriers, opportunities, and challenges. This information empowers stakeholders to stay abreast of market trends and make data-driven decisions to capitalize on growth prospects.

Additional Benefits

• Complimentary Excel Data Packs for all analytical modules in the report
• 15% free content customization
• Detailed report walkthrough session with the research team
• Free report update available for reports older than 6 months

Key Attributes

A selection of companies mentioned in this report includes, but is not limited to:

• Aker Solutions
• BASF
• Carbon Capture America
• Chevron
• Equinor
• ExxonMobil
• Fluor
• Hitachi
• HOLCIM
• Honeywell
• JGC
• Mitsubishi
• SAIPEM
• Saudi Arabian Oil
• Schlumberger
• Siemens

For more information about this report visit https://www.researchandmarkets.com/r/gmr5h3

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