Global Carbon Capture Market to Skyrocket by 2029

The carbon capture, utilization, and storage (CCUS) market is set to expand significantly, reaching $5.33 billion by 2029 with an annual growth rate of 14.4%. This surge is fueled by the need to curb industrial emissions, supportive policies, and rising energy demands.

Innovative methods like direct air capture using zeolites and temperature-vacuum adsorption are emerging trends in the sector. Key market segments include pre-combustion, post-combustion, and oxy-fuel technologies, which serve industries like oil and gas, power, steel, and cement.

North America is currently leading the charge, with major players such as Shell, Aker, and Linde driving advancements. Other significant contributors include Sinopec Qilu-Shengli Oilfield CCUS, Zeroco2, and Terrasigna.

This growth signifies a pivotal shift towards sustainable industrial practices and a robust response to climate change challenges. The expansion of this market is critical for achieving industrial decarbonization while maintaining competitiveness in global markets.