Carbon Capture & Storage Technologies

July 09, 2008

Wellesley, Mass—According to a new technical market research report, Carbon Capture & Storage Technologies (EGY037B) from BCC Research (www.bccresearch.com), the global market for carbon capture technologies was worth $88.7 billion in 2007.  This is expected to increase to over $236.3 billion by 2012, a compound annual growth rate (CAGR) of 21.8%.

The market is broken down into applications of precombustion, combustion and postcombustion. Of these, postcombustion has the largest share of the market. Valued at nearly $51.5 billion in 2007, this segment is expected to be worth $107.0 billion by 2012, a CAGR of 15.7%. Post-combustion, which involves chemical stripping of carbon dioxide (CO2) from various gases by bubbling the gases through liquid chemicals, is the most mature and so far the technology to beat in price and reliability.

The second largest segment, precombustion, was worth an estimated $34.6 billion in 2007 and will reach $124.9 billion by 2012. Precombustion involves gasifying coal to extract a synthetic natural gas that is then burned in an Integrated Gasification Combined Cycle plant, a process that emits much less CO2 than a traditional coal plant and can be configured to be a near zero emission plant with the addition of post-combustion technologies. Demand for clean as well as cheap energy sources such as coal that remains insulated from rising oil and gas prices is driving this market.

Combustion is currently a $500 million sector that will be worth $2.0 billion in 2012, for a CAGR of 32%.

By 2025 more than 10 billion metric tons of CO2 will need to be captured each year and CO2 emissions will still continue to grow. A global infrastructure that will ultimately cost more than $15 trillion will need to be installed over the next century to accomplish that ever increasing annual task.  The effort to capture carbon dioxide has just begun.
 

Carbon Capture & Storage Technologies( EGY037B )
Publish Date: May 2008    

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