Dublin, Jan. 22, 2024 (GLOBE NEWSWIRE) -- The "Global Carbon Dioxide Utilization Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The latest market analysis report on the global carbon dioxide utilization industry provides a comprehensive overview of the sector with a spotlight on growth trends, market size, share, and forecasts from 2023 to 2030. The carbon dioxide utilization market is witnessing an upsurge, with expectations to reach a valuation of US$9.9 billion by 2030, growing at a CAGR of 14.3%.
Expansive Market Growth Driven by Environmental Policies and Technological Advances
The significant growth within the carbon dioxide utilization market can be attributed to numerous factors. A paramount driver is the global initiative to mitigate the effects of industrial carbon emissions, which has resulted in heightened carbon capture, utilization, and storage (CCUS) efforts. This proactive approach is fundamental to achieving the climate objectives set forth by various governments and regulatory bodies.
Key insights from the report highlight the oil & gas power generation sector as a prominent revenue-contributor within the carbon dioxide utilization market in the recent past. Additionally, the report forecasts that North America will maintain its leading position in the global arena, with the Asia Pacific region emerging as the fastest-growing market.
Report Highlights Major Technological Segments and Regional Leaders
- The demand for post-combustion capture technology in carbon dioxide utilization underscores its significance in reducing emissions.
- Chemical conversion and direct air capture technologies are projected to lead, largely due to their capacity to produce valuable products like chemicals and synthetic fuels.
- North America demonstrates a strong hold on the market, with continued advancements in clean technology and deep involvement in enhanced oil recovery practices.
- Asia Pacific signals a remarkable potential for growth, thanks to rapid industrialization and the development of clean energy initiatives in key countries like China.
Thriving Opportunities in Enhancing Oil Recovery and Chemical Production
The utilization of carbon dioxide in enhanced oil recovery (EOR) processes presents emerging opportunities across the oil and gas industry. Such applications underline the market's potential and the scalability of carbon dioxide utilization technologies in secondary activities.
Chemicals and fuels constitute major segments benefitting from carbon dioxide utilization, with increased production of carbon-derived chemicals and petrochemicals visibly reducing emissions and fossil fuel reliance.
Distinguished Market Players Spearheading Innovation and Sustainable Growth
A lineup of key industrial leaders, including renowned energy companies and technology providers, plays a pivotal role in advancing the carbon dioxide utilization market. The involvement of these prominent players underscores the combined efforts towards fostering a sustainable and environmentally responsible industry landscape.
As global environmental awareness intensifies, industries are increasingly seeking innovations in carbon dioxide utilization, reinforcing the market's broad scope for expansion and making it a focal point for investors and stakeholders committed to a more sustainable future.
The full analysis provides an in-depth view of the market dynamics, offering stakeholders valuable insights into the carbon dioxide utilization sector's current state and future trajectory. The report has now been added to our website, detailing strategic recommendations and underscoring the potential for significant market opportunities.
A selection of companies mentioned in this report includes
- Honeywell International Inc
- LanzaTech Inc.
- TotalEnergies SE
- Hitachi, Ltd.
- ExxonMobil Corporation
- Linde plc
- Climeworks AG
- Carbon Recycling International
- Carbon Engineering
- Royal Dutch Shell Plc
- Mitsubishi Heavy Industries, Lt
For more information about this report visit https://www.researchandmarkets.com/r/k380yq
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