Europe Carbon Capture Utilization Market Is Estimated To Register A CAGR Of 18.4% By 2028Posted by rahul nikade on September 26th, 2022 Europe Carbon Capture Utilization Industry Overview The Europe carbon capture utilization market size was valued at USD 1,032.26 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 18.4% from 2020 to 2028. Factors such as increasing applications of CCU in the enhanced oil recovery (EOR) in the oil & gas segment are expected to contribute to the growth of the market. Further, the food & beverages, chemicals, cement, and other industries are anticipated to be the major application segments that are expected to contribute to the growth of the market for carbon capture utilization in Europe over the forecast period. Germany is one of the major contributors to carbon dioxide emissions and a major market for carbon capture and utilization in Europe. Gather more insights about the market drivers, restrains and growth of the Europe Carbon Capture Utilization Market Government initiatives, supporting policies and plans, and availability of funds are some of the factors that are expected to drive the CCU market in the country. The country is engaged in research and development for finding ways to reduce carbon dioxide emissions. For instance, it is emphasizing on generating power through renewable sources instead of non-renewable sources. Researchers have been trying to find other industrial applications of carbon dioxide to reduce overall carbon dioxide emissions. This is anticipated to boost the demand for CCU technology in the country. The market for carbon capture utilization in Europe is estimated to have a linear growth rate by 2025 due to several installations of CCU facilities at each end-use industry such as chemicals, cement, oil and gas, power, steel, and food and beverages. The growth is expected to show a slow decline by 2026 due to the market consolidation. Furthermore, in July 2020, the Bundestag and the Bundesrat adopted the act on the phase-out of coal-fired power plants and the structural reinforcement act for mining regions by 2038. Browse through Grand View Research's Distribution & Utilities Industry Research Reports.
Europe Carbon Capture Utilization Market Segmentation Grand View Research has segmented the Europe Carbon Capture Utilization market based on application and country Europe Carbon Capture Utilization Application Outlook (Volume, Million Tons; Revenue, USD Million, 2017 - 2028)
Europe Carbon Capture Utilization Country Outlook (Volume, Million Tons; Revenue, USD Million, 2017 - 2028)
Market Share Insights
Key Companies profiled: Some prominent players in the Europe carbon capture utilization market include
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