Carbon Capture and Storage (Ccs) Market Growth, Trends, Absolute Opportunity and Value Chain 2015-2025 by Fmi

Globally, large quantities of fossil fuels are consumed for a variety of industrial processes such as those in steel industries, cement industries and in power generation. Combustion of fossil fuels at such a large scale results in emission of carbon dioxide and other greenhouse gases in to the atmosphere. Ever increasing amount of these gases in the atmosphere have resulted in irreversible phenomena such as climate change, depletion of ozone among the others. Sighting these and several other imminent threats, an ingenious technology namely Carbon Capture and Storage (CCS) has been increasingly adopted across the globe in recent years. Carbon Capture and Storage (CCS) is a process wherein up to 90% of carbon dioxide emissions produced as a result of combustion of fossil fuels, are captured. Thus, preventing them from entering the atmosphere. The process comprises three steps, first step involves capturing the carbon dioxide which is emitted, second step involves transportation of the captured carbon dioxide and the third step involves its secure storage.

Carbon Capture and Storage Market: Drivers & Restraints

The growing concerns as regards the environmental hazards and irreversible changes resulting from the emissions in to the atmosphere have resulted in implementation of stringent regulations pertaining to emissions into the atmosphere. These in turn have prompted companies across the globe to develop processes that are efficient at the same time are environmentally friendly.

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The ever growing use of fossil fuels and industrial growth both in developed and developing parts of the world is expected to drive the demand, proliferation of Carbon Capture and Storage technology, in turn resulting in growth of global carbon capture and storage market. Moreover, the fact that, implementation of Carbon Capture and Storage technology provides a relatively more viable...