As the global push for net-zero emissions gains momentum, carbon capture technologies are emerging as a crucial solution in reducing industrial emissions and mitigating climate change. By capturing and either storing or repurposing carbon dioxide (CO₂), these technologies play a pivotal role in transforming high-emission industries and accelerating the clean energy transition.
Carbon Capture, Utilization, and Storage (CCUS) refers to a suite of technologies designed to trap CO₂ emissions before they enter the atmosphere. The captured carbon can then be stored underground in geological formations or repurposed for products like synthetic fuels, chemicals, and eco-friendly building materials.
Industries like steel, cement, and energy production are some of the biggest carbon emitters. Since a complete transition to renewables takes time, CCUS offers a practical, immediate solution to reduce emissions without requiring a complete infrastructure overhaul.
According to the International Energy Agency (IEA), CCUS must contribute about 15% of the emissions reductions needed by 2050 to meet global climate targets. That’s why governments and corporations are investing billions in scaling these technologies.
According to BCC Research, the global Carbon Capture, Utilization, and Storage Technologies market is booming. Projections estimate it will grow from $3.4 billion in 2024 to over $9.6 billion by 2029, at a CAGR of 23.1%. Increased government incentives, corporate investments, and technological advancements drive this surge. The U.S. Inflation Reduction Act and the 45Q tax credit have spurred significant investment in CCUS projects.