The United States Led the Carbon Capture Effort in 2023

Post Combustion Carbon Capture Storage Market

The post-combustion carbon capture storage market is expanding for various reasons, including increasing focus on reduction in carbon emission due to the rising demand for carbon dioxide from environmental outcomes reports methods. Also, the increasing urbanization rate across the globe causes a surge in the emission of carbon dioxide. In combating this issue, various governments of developed and developing nations like China, the US, and India are setting up huge numbers of carbon dioxide capture and storage plants, which are the major reasons fueling the market on a global level. 

Techniques like enhanced oil recovery are surging with technological advancements, offshore oil and gas exploration, and increased production activities, including the use of crude oil extraction by carbon dioxide. However, the high cost of installation along with lack of skilled workers is major hampering factors for the market. According to a survey, storage capacity for carbon dioxide is anticipated to be 700 million tons per year. However, as technology keeps evolving with time, it's expected that overall spending on carbon capture storage will be minimized and will be available to many consumers.