Global carbon dioxide utilization market is estimated to be valued at USD 5.18 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 13.4% from 2024 to 2031. Carbon dioxide utilization refers to technologies that can capture and utilize CO2 from industrial and energy-related sources, aiming to reduce atmospheric CO2 levels and produce useful products. With rising concerns about climate change mitigation, carbon dioxide utilization presents an opportunity to reduce emissions at source in a sustainable manner. Several new and emerging CO2 utilization pathways have emerged in recent times involving conversion of CO2 into fuels, industrial feedstocks and construction materials among others. The widespread adoption of such technologies could complement current reduction efforts and lower carbon footprint of key industries.
Market Dynamics:
Growing focus on reducing greenhouse gas emissions and developing a circular carbon economy can boost adoption of carbon dioxide utilization technologies. Stringent regulations mandating emission cuts coupled with carbon pricing mechanisms have compelled industries to explore innovative ways to curb emissions. Availability of captured CO2 from industrial sources at lower costs can drive the market growth. The high capital investments and technology risks associated with first-of-its-kind carbon utilization plants act hamper the market growth. Uncertain demand and pricing mechanisms for end-use carbon utilization products also restrain commercialization. Furthermore, emergence of novel concepts such as carbon capture and reuse from power production using carbon conversion technologies can provide lucrative opportunities for the market growth. Potential co-benefits in the form of economic value addition and resource recovery from waste CO2 gas can provide lucrative opportunities for the market growth.
Key Features of the Study:
Detailed Segmentation-
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