1. |
EXECUTIVE SUMMARY |
1.1. |
Why CO₂ utilization? |
1.2. |
CO₂ utilization pathways |
1.3. |
CO₂-EOR dominates utilization of captured CO₂ |
1.4. |
World's large-scale CO₂ capture with CO₂-EOR facilities |
1.5. |
Key takeaways in CO₂-EOR |
1.6. |
Emerging applications of CO₂ utilization |
1.7. |
Comparison of emerging CO₂ utilization applications |
1.8. |
Technology Readiness Level (TRL): CO₂U products |
1.9. |
Key players in emerging CO₂ Utilization technologies |
1.10. |
Production of CO₂-derived building materials is growing fast |
1.11. |
CO₂ use in the cement and concrete supply chain |
1.12. |
Competitive landscape: TRL of players in CO₂U concrete |
1.13. |
Key takeaways in CO₂-derived building materials |
1.14. |
Carbon-containing chemicals could be made from CO₂ |
1.15. |
The chemical industry's decarbonization challenge |
1.16. |
Major pathways to convert CO₂ into polymers |
1.17. |
Key takeaways in CO₂-derived chemicals and polymers |
1.18. |
CO₂-derived fuels could decarbonize transport |
1.19. |
Key takeaways in CO₂-derived fuels |
1.20. |
CO₂ utilization to boost biological yields |
1.21. |
Key takeaways in CO₂ biological yield boosting |
1.22. |
Factors driving CO₂U future market potential |
1.23. |
Greater policy and regulation support for CO₂U is needed |
1.24. |
Carbon utilization potential and climate benefits |
1.25. |
CO₂ utilization: Analyst viewpoint (i) |
1.26. |
CO₂ utilization: Analyst viewpoint (ii) |
1.27. |
CO₂ utilization: Analyst viewpoint (iii) |
1.28. |
CO₂ utilization forecast by product (million tonnes of CO₂ per year), 2025-2045 |
1.29. |
CO₂ utilization market forecast, 2025-2045: discussion |
2. |
INTRODUCTION |
2.1. |
Definition and report scope |
2.2. |
The world needs an unprecedented transition away from fossil carbon |
2.3. |
Why CO₂ utilization? |
2.4. |
How is CO₂ used and sourced today? |
2.5. |
CO₂ utilization pathways |
2.6. |
Reductive vs non-reductive methods |
2.7. |
CO₂ Utilization in Enhanced Oil Recovery |
2.8. |
CO₂ Utilization in Enhanced Oil Recovery |
2.9. |
Main emerging applications of CO₂ utilization |
2.10. |
Emerging applications of CO₂ utilization |
2.11. |
Carbon Utilization potential and climate benefits |
2.12. |
When can CO₂ utilization be considered "net-zero"? |
2.13. |
Greater policy and regulation support for CO₂U is needed |
2.14. |
Carbon pricing and carbon markets |
2.15. |
Compliance carbon pricing mechanisms across the globe |
2.16. |
Alternative to carbon pricing: 45Q tax credits |
2.17. |
How is CO₂ utilization treated in existing regulations? |
2.18. |
45Q tax credits and CO₂ utilization |
2.19. |
The role of voluntary carbon credits in supporting CO₂ utilization |
2.20. |
Is the origin of CO₂ important? |
2.21. |
Factors driving future market potential |
2.22. |
IDTechEx TRL assessment for large-scale CO₂ utilization |
2.23. |
Technology Readiness Level (TRL): CO₂U products |
2.24. |
CO₂U Products: utilization ratio and selling price |
2.25. |
Cost effectiveness of CO₂ utilization applications |
2.26. |
New CO₂ transportation infrastructure expected to emerge rapidly |
2.27. |
Investment in CO₂ utilization continues to grow |
2.28. |
Governments are also funding CCU companies and commercial projects |
2.29. |
Technical challenges of major CO₂U applications |
2.30. |
Climate benefits of major CO₂U applications |
2.31. |
Technology readiness and climate benefits of CO₂U pathways |
2.32. |
Key considerations for CO₂U market growth |
2.33. |
Realizing the potential of CO₂ utilization |
2.34. |
Carbon utilization business models |
2.35. |
Why CO₂ utilization should not be overlooked |
2.36. |
Conclusions |
3. |
CO₂ ENHANCED OIL RECOVERY |
3.1. |
What is CO₂-EOR? |
3.2. |
What happens to the injected CO₂? |
3.3. |
Types of CO₂-EOR designs |
3.4. |
The CO₂ source: natural vs anthropogenic |
3.5. |
The CO₂ source impacts costs and technology choice |
3.6. |
Global status of CO₂-EOR: U.S. dominates but other regions arise |
3.7. |
World's large-scale CO₂ capture with CO₂-EOR facilities |
3.8. |
Most CCUS projects are coupled with enhanced oil recovery for financial viability |
3.9. |
CO₂-EOR potential |
3.10. |
Most CO₂ in the U.S. is still naturally sourced |
3.11. |
CO₂-EOR main players in the U.S. |
3.12. |
CO₂-EOR main players in North America |
3.13. |
CO₂ transportation is a bottleneck |
3.14. |
Which CCUS/EOR project is the biggest? |
3.15. |
Boundary Dam - battling capture technical issues |
3.16. |
CO₂-EOR in China |
3.17. |
The economics of promoting CO₂ storage through CO₂-EOR |
3.18. |
Role of Carbon sequestration tax credits: the U.S. 45Q |
3.19. |
The impact of oil prices on CO₂-EOR feasibility |
3.20. |
Petra Nova's long shutdown: lessons for the industry? |
3.21. |
Climate considerations in CO₂-EOR |
3.22. |
The climate impact of CO₂-EOR varies over time |
3.23. |
CO₂-EOR: an on-ramp for CCS and DACCS? |
3.24. |
CO₂-EOR: Progressive or "Greenwashing" |
3.25. |
Future advancements in CO₂-EOR |
3.26. |
CO₂-EOR SWOT analysis |
3.27. |
Key takeaways: market |
3.28. |
Key takeaways: environmental |
4. |
CO₂ UTILIZATION IN BUILDING MATERIALS |
4.1. |
Introduction |
4.1.1. |
The role of concrete in the construction sector emissions |
4.1.2. |
The role of cement in concrete's carbon footprint |
4.1.3. |
The role of cement in concrete's carbon footprint (ii) |
4.1.4. |
Regulations driving concrete decarbonization |
4.1.5. |
The Basic Chemistry: CO₂ Mineralization |
4.1.6. |
CO₂ use in the cement and concrete supply chain |
4.1.7. |
Can the CO₂ used in building materials come from cement plants? |
4.2. |
CO₂ utilization in concrete curing or mixing |
4.2.1. |
CO₂ utilization in concrete curing or mixing |
4.2.2. |
CO₂ utilization in concrete curing or mixing (ii) |
4.2.3. |
CO₂ utilization in concrete curing - technologies and business models |
4.2.4. |
CO₂ utilization in concrete curing or mixing - production capacities |
4.3. |
CO₂ utilization in carbonates (aggregates and additives) |
4.3.1. |
CO₂ utilization in carbonates (aggregates and additives) |
4.3.2. |
CO₂-derived carbonates from natural minerals |
4.3.3. |
CO₂-derived carbonates from waste |
4.3.4. |
CO₂-derived carbonates from waste (ii) |
4.3.5. |
Carbonation of recycled concrete in a cement plant |
4.3.6. |
Carbonation of recycled concrete players |
4.3.7. |
CO₂ utilization in carbonates - technologies and business models (i) |
4.3.8. |
CO₂ utilization in carbonates - technologies and business models (ii) |
4.3.9. |
CO₂ utilization in carbonates - production capacities |
4.4. |
Market analysis of CO₂-derived building materials |
4.4.1. |
The market potential of CO₂ use in the construction industry |
4.4.2. |
Supplying CO₂ to a decentralized concrete industry |
4.4.3. |
Future of CO₂ supply for concrete |
4.4.4. |
Prefabricated versus ready-mixed concrete markets |
4.4.5. |
Market dynamics of cement and concrete |
4.4.6. |
CO₂U business models in building materials |
4.4.7. |
CO₂ derived concrete: carbon credits |
4.4.8. |
Construction standards can delay adoption of new materials |
4.4.9. |
Construction standards met by CO₂U concrete players |
4.4.10. |
CO₂U technology adoption in construction materials |
4.4.11. |
CO₂ utilization players in mineralization |
4.4.12. |
Competitive landscape: TRL of players in CO₂U concrete |
4.4.13. |
Factors influencing CO₂U adoption in construction |
4.4.14. |
Factors influencing CO₂U adoption in construction (ii) |
4.4.15. |
Concrete carbon footprint of key CO₂U companies |
4.4.16. |
Cement reduction and direct sequestration carbon footprint components |
4.4.17. |
Key takeaways in CO₂-derived building materials |
4.4.18. |
Key takeaways in CO₂-derived building materials (ii) |
4.4.19. |
Key takeaways in CO₂-derived building materials (iii) |
5. |
CO₂-DERIVED CHEMICALS |
5.1. |
Introduction |
5.1.1. |
The chemical industry's decarbonization challenge |
5.1.2. |
CO₂ can be converted into a giant range of chemicals |
5.1.3. |
Using CO₂ as a feedstock is energy-intensive |
5.1.4. |
The basics: types of CO₂ utilization reactions |
5.1.5. |
CO₂ conversion pathways in this chapter |
5.1.6. |
CO₂ use in urea production |
5.2. |
CO₂-derived chemicals: thermochemical pathways |
5.2.1. |
CO₂ may need to be first converted into CO or syngas |
5.2.2. |
Reverse water gas shift (RWGS) overview |
5.2.3. |
RWGS catalyst innovation case study |
5.2.4. |
Fischer-Tropsch synthesis: syngas to hydrocarbons |
5.2.5. |
Direct Fischer-Tropsch synthesis: CO₂ to hydrocarbons |
5.2.6. |
Methanol is a valuable chemical feedstock |
5.2.7. |
Cost parity has been a challenge for CO₂-derived methanol |
5.2.8. |
Thermochemical methods: CO₂-derived methanol |
5.2.9. |
Carbon Recycling International: Direct hydrogenation |
5.2.10. |
Direct methanol synthesis from H2O & CO₂ |
5.2.11. |
Major CO₂-derived methanol projects |
5.2.12. |
Future methanol applications |
5.2.13. |
Aromatic hydrocarbons from CO₂ |
5.3. |
CO₂-derived chemicals: electrochemical pathways |
5.3.1. |
Electrochemical CO₂ reduction |
5.3.2. |
Electrochemical CO₂ reduction technologies |
5.3.3. |
Low-temperature electrochemical CO₂ reduction |
5.3.4. |
ECO₂Fuel Project |
5.3.5. |
High-temperature solid oxide electrolyzers |
5.3.6. |
Solid oxide electrolyzer (SOEC) overview |
5.3.7. |
SOEC co-electrolysis project case study |
5.3.8. |
Comparison of RWGS & SOEC co-electrolysis routes |
5.3.9. |
SOEC & SOFC system suppliers |
5.3.10. |
H2O electrolysis industry much more developed than CO₂ electrolysis |
5.3.11. |
Topsoe |
5.3.12. |
Cost comparison of CO₂ electrochemical technologies |
5.3.13. |
Coupling H2 and electrochemical CO₂ |
5.3.14. |
What products can be made from CO₂ reduction? |
5.3.15. |
Economic viability CO₂ reduction products |
5.3.16. |
USA and Europe leading the way in CO₂ electrolysis |
5.3.17. |
Summary of electrochemical CO₂ reduction |
5.4. |
CO₂-derived chemicals: Microbial conversion pathways |
5.4.1. |
CO₂ microbial conversion to produce chemicals |
5.4.2. |
Tools and techniques of synthetic biology |
5.4.3. |
CO₂-consuming microorganisms |
5.4.4. |
Introduction to CRISPR-Cas9 |
5.4.5. |
CRISPR-Cas9: a bacterial immune system |
5.4.6. |
Gene-editing considerations for acetogens |
5.4.7. |
LanzaTech |
5.4.8. |
Key challenges in chemosynthesis |
5.4.9. |
Key players in chemosynthetic biological conversion for CO₂ utilization |
5.4.10. |
Scaling bioreactors - specific technical challenges |
5.4.11. |
Introduction to cell-free systems |
5.4.12. |
Cell-free versus cell-based systems |
5.4.13. |
Biological conversion pathways to CO₂-derived chemicals studied in academia |
5.5. |
CO₂-derived chemicals: Photocatalytic, photoelectrochemical, plasma conversion |
5.5.1. |
"Artificial photosynthesis" - photocatalytic reduction methods |
5.5.2. |
Plasma technology for CO₂ conversion |
5.6. |
CO₂-derived polymers |
5.6.1. |
Major pathways to convert CO₂ into polymers |
5.6.2. |
CO₂-derived linear-chain polycarbonates |
5.6.3. |
Commercial production of polycarbonate from CO₂ |
5.6.4. |
Asahi Kasei: CO₂-based aromatic polycarbonates |
5.6.5. |
Commercial production of CO₂-derived polymers |
5.6.6. |
Methanol to olefins (polypropylene production) |
5.6.7. |
Ethanol to polymers |
5.6.8. |
Project announcements in 2023: Electrochemical polymer production |
5.6.9. |
PHB from Biological Conversion: Newlight |
5.7. |
CO₂-derived pure carbon products |
5.7.1. |
Carbon nanostructures made from CO₂ |
5.7.2. |
Mars Materials |
5.8. |
CO₂-derived chemicals: market and general considerations |
5.8.1. |
Players in CO₂-derived chemicals by end-product |
5.8.2. |
CO₂-derived chemicals: market potential |
5.8.3. |
Are CO₂-derived chemicals climate beneficial? |
5.8.4. |
Technology Readiness Level (TRL): CO₂U chemicals |
5.8.5. |
Investments and industrial collaboration are key |
5.8.6. |
Steel-off gases as a CO₂U feedstock |
5.8.7. |
Centralized or distributed chemical manufacturing? |
5.8.8. |
Could the chemical industry run on CO₂? |
5.9. |
CO₂-derived chemicals: takeaways |
5.9.1. |
Which CO₂U technologies are more suitable to which products? |
5.9.2. |
Key takeaways in CO₂-derived chemicals |
6. |
CO₂-DERIVED FUELS |
6.1. |
What are CO₂-derived fuels (power-to-X)? |
6.2. |
CO₂ can be converted into a variety of fuels |
6.3. |
Overview of e-fuel uses & production pathways |
6.4. |
Comparison of e-fuels to fossil and biofuels |
6.5. |
Overview of energy & carbon flows in e-fuel production |
6.6. |
The challenge of energy efficiency |
6.7. |
CO₂-fuels are pertinent to a specific context |
6.8. |
CO₂-fuels in road vehicles |
6.9. |
Methanol-to-gasoline (MTG) synthesis |
6.10. |
MTG e-fuel plant case study |
6.11. |
CO₂-fuels in shipping |
6.12. |
CO₂-fuels in aviation |
6.13. |
Sustainable aviation fuel policies (i) |
6.14. |
Sustainable aviation fuel policies (ii) |
6.15. |
Fuels made from CO₂ are seeing demand from the aviation and shipping sectors |
6.16. |
Existing and future CO₂-derived synfuels (kerosene, diesel, and gasoline) projects |
6.17. |
The source of captured CO₂ matters |
6.18. |
CO₂ source for e-fuel production under the EU's Renewable Energy Directive |
6.19. |
Status of DAC for e-fuel production |
6.20. |
Overview of syngas production options for e-fuels |
6.21. |
Key players in reverse water gas shift (RWGS) for e-fuels |
6.22. |
Start-ups in reverse water gas shift (RWGS) for e-fuels |
6.23. |
RWGS-FT e-fuel plant case study |
6.24. |
Methanation overview |
6.25. |
Thermocatalytic pathway to e-methane |
6.26. |
Thermocatalytic methanation case study |
6.27. |
Biological fermentation of CO₂ into e-methane |
6.28. |
Biocatalytic methanation case study |
6.29. |
Thermocatalytic vs biocatalytic methanation |
6.30. |
SWOT for methanation technology |
6.31. |
Existing and future CO₂-derived methane projects |
6.32. |
Power-to-Methane projects worldwide - current and announced |
6.33. |
Methanation company landscape |
6.34. |
High costs of e-fuel production |
6.35. |
Can CO₂-fuels achieve cost parity with fossil-fuels? |
6.36. |
CO₂-fuels rollout is linked to electrolyzer capacity |
6.37. |
Low-carbon hydrogen is crucial to CO₂-fuels |
6.38. |
Technology & process developers in e-fuels by end-product |
6.39. |
Project developers in e-fuels by end-product |
6.40. |
SWOT analysis for e-fuels |
6.41. |
Are CO₂-fuels climate beneficial? |
6.42. |
CO₂-derived fuels: market potential |
6.43. |
Key takeaways in CO₂-derived fuels |
7. |
CO₂ UTILIZATION IN BIOLOGICAL YIELD BOOSTING |
7.1. |
Introduction |
7.1.1. |
CO₂ utilization in biological processes |
7.1.2. |
Main companies using CO₂ in biological processes |
7.2. |
CO₂ utilization in greenhouses |
7.2.1. |
CO₂ enrichment in greenhouses |
7.2.2. |
CO₂ enrichment in greenhouses: market potential |
7.2.3. |
CO₂ enrichment in greenhouses: pros and cons |
7.2.4. |
Advancements in greenhouse CO₂ enrichment |
7.3. |
CO₂ utilization in algae cultivation |
7.3.1. |
CO₂-enhanced algae or cyanobacteria cultivation |
7.3.2. |
CO₂-enhanced algae cultivation: open systems |
7.3.3. |
CO₂-enhanced algae cultivation: closed systems |
7.3.4. |
Algae can be used directly for CO₂ capture |
7.3.5. |
Algae has multiple market applications |
7.3.6. |
The algae-based fuel market has been rocky |
7.3.7. |
Algae-based fuel for aviation |
7.3.8. |
CO₂-enhanced algae cultivation: pros and cons |
7.4. |
CO₂ utilization in microbial conversion: food and feed production |
7.4.1. |
Food and feed from CO₂ |
7.4.2. |
CO₂-derived food and feed: market |
7.4.3. |
Carbon fermentation: pros and cons |
7.4.4. |
Key takeaways in CO₂ biological yield boosting |
8. |
CO₂ UTILIZATION MARKET FORECAST |
8.1. |
Forecast methodology |
8.1.1. |
Forecast scope and methodology |
8.1.2. |
Forecast product categories |
8.2. |
CO₂ utilization overall market forecast |
8.2.1. |
CO₂ utilization forecast by category (million tonnes of CO₂ per year), 2025-2045 |
8.2.2. |
CO₂ utilization forecast by product (million tonnes of CO₂ per year), 2025-2045 |
8.2.3. |
Data table for CO₂ utilization forecast by product (million tonnes of CO₂ per year) |
8.2.4. |
Carbon utilization annual revenue forecast by category (billion US$), 2025-2045 |
8.2.5. |
Carbon utilization annual revenue forecast by product (billion US$), 2025-2045 |
8.2.6. |
CO₂ utilization market forecast, 2025-2045: discussion |
8.2.7. |
The evolution of the CO₂U market |
8.3. |
CO₂-Enhanced Oil Recovery forecast |
8.3.1. |
CO₂-EOR forecast assumptions |
8.3.2. |
CO₂ utilization forecast in enhanced oil recovery (million tonnes of CO₂ per year), 2025-2045 |
8.3.3. |
Annual revenue forecast for CO₂-enhanced oil recovery (billion US$), 2025-2045 |
8.3.4. |
Captured CO₂ use in EOR, 2025-2045: discussion |
8.4. |
CO₂-derived building materials forecast |
8.4.1. |
CO₂-derived building materials: forecast assumptions |
8.4.2. |
CO₂ utilization forecast in building materials by end-use (million tonnes of CO₂ per year), 2025-2045 |
8.4.3. |
CO₂-derived building materials volume forecast by product (million tonnes of product per year), 2025-2045 |
8.4.4. |
Annual revenue forecast for CO₂-derived building materials by product (million US$), 2025-2045 |
8.4.5. |
CO₂-derived building materials forecast, 2025-2045: discussion (i) |
8.4.6. |
CO₂-derived building materials forecast, 2025-2045: discussion (ii) |
8.5. |
CO₂-derived chemicals forecast |
8.5.1. |
CO₂-derived chemicals: forecast assumptions |
8.5.2. |
CO₂ utilization forecast in chemicals by end-use (million tonnes of CO₂ per year), 2025-2045 |
8.5.3. |
CO₂-derived chemicals volume forecast by end-use (million tonnes product per year), 2025-2045 |
8.5.4. |
Annual revenue forecast for CO₂-derived chemicals by end-use (million US$), 2025-2045 |
8.5.5. |
CO₂-derived chemicals forecast, 2025-2045: discussion |
8.6. |
CO₂-derived fuels forecast |
8.6.1. |
CO₂-derived fuels: forecast assumptions |
8.6.2. |
CO₂ utilization forecast in fuels by fuel type (million tonnes of CO₂ per year), 2025-2045 |
8.6.3. |
CO₂-derived fuels volume forecast by fuel type (million tonnes of fuel per year), 2025-2045 |
8.6.4. |
Annual revenue forecast for CO₂-derived fuels by fuel type (million US$), 2025-2045 |
8.6.5. |
CO₂-derived fuels forecast, 2025-2045: discussion (i) |
8.6.6. |
CO₂-derived fuels forecast, 2025-2045: discussion (ii) |
8.7. |
CO₂ use in biological yield-boosting forecast |
8.7.1. |
CO₂ use in biological yield-boosting: forecast assumptions (greenhouses) |
8.7.2. |
CO₂ use in biological yield-boosting: forecast assumptions (algae and proteins) |
8.7.3. |
CO₂ utilization forecast in biological yield-boosting by end-use (million tonnes of CO₂ per year), 2025-2045 |
8.7.4. |
Annual revenue forecast for CO₂ use in biological yield-boosting by end-use (million US$), 2025-2045 |
8.7.5. |
CO₂ use in biological yield-boosting forecast, 2025-2045: discussion (greenhouses) |
8.7.6. |
CO₂ use in biological yield-boosting forecast, 2025-2045: discussion (algae & proteins) |
9. |
COMPANY PROFILES |
9.1. |
Adaptavate |
9.2. |
Aether Diamonds |
9.3. |
Arborea |
9.4. |
Avantium: Volta Technology |
9.5. |
Carboclave |
9.6. |
Carbon Corp |
9.7. |
Carbon Neutral Fuels |
9.8. |
Carbon Recycling International |
9.9. |
Carbonaide |
9.10. |
CarbonBridge |
9.11. |
CarbonBuilt |
9.12. |
CarbonCure |
9.13. |
CarbonFree |
9.14. |
Chiyoda: CCUS |
9.15. |
CO2 GRO Inc. |
9.16. |
Coval Energy |
9.17. |
Deep Branch |
9.18. |
Econic Technologies |
9.19. |
Fortera Corporation |
9.20. |
GreenCap Solutions |
9.21. |
Greenore |
9.22. |
INERATEC |
9.23. |
LanzaJet |
9.24. |
LanzaTech |
9.25. |
Liquid Wind |
9.26. |
Mars Materials |
9.27. |
neustark |
9.28. |
Newlight Technologies |
9.29. |
O.C.O Technology |
9.30. |
OXCCU |
9.31. |
OxEon Energy |
9.32. |
Paebbl |
9.33. |
Prometheus Fuels |
9.34. |
Q Power |
9.35. |
Seratech |
9.36. |
Solar Foods |
9.37. |
Solidia Technologies |
9.38. |
Synhelion |
9.39. |
Twelve Corporation |
9.40. |
UP Catalyst |