Carbon Dioxide Reuse Technologies Market: Overview
- The level of carbon dioxide in the environment has been increasing on a large scale since the industrial revolution. Activities such as burning of coal, oil and gas, as well as deforestation are the primary and major causes of increased carbon dioxide concentration in the atmosphere.
- High level of carbon dioxide can lead to greenhouse effects, climate change, acid rain, and human health hazards. Proper disposal methods need to be implemented to control the ill-effects of increased level of carbon dioxide. Carbon dioxide needs to be recycled or processed using certain technologies if complete disposal is not feasible.
Carbon Capture and Control
- Carbon capture and sequestration or carbon control and storage are the methods used to capture waste carbon dioxide from bulk point sources, such as cement factories, biomass power plants, and industrial applications. Carbon dioxide is stored at a storage site and deposited where it does not come in contact with the atmosphere.
- The primary objective is to prevent the discharge of bulk quantities of carbon dioxide into the atmosphere. Carbon capture is one of the potential means of reducing the contribution to ocean acidification and global warming caused due to the excess emission of carbon dioxide.
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Key Drivers of Carbon Dioxide Reuse Technologies Market
- Stringent environmental laws and regulation led by the environmental regulatory bodies by the respective country
- The idea to turn carbon dioxide emissions into synthetic natural gas which could be used as a fossil-fuel replacement
Carbon Dioxide Reuse Technologies
- Enhanced oil recovery technology is most widely used technology for the reuse of carbon dioxide. Under this technology, carbon dioxide is infused into depleted oil fields and acts as a solvent, which reduces oil viscosity, enabling it to flow to the production well. Once the production is over, the carbon dioxide is permanently stored in the reservoir.
- The urea yield boosting technology captures carbon dioxide from ammonia reformer flue gas for injection into the urea production process.
- Carbon dioxide can be used for various applications in the food industry, including cooling while grinding powders such as spices and as an inert atmosphere to prevent food spoilage, in food processing, preservation, and packaging technology. In packaging applications, carbon dioxide is used in modified atmosphere packaging (MAP) and controlled atmosphere packaging (CAP). Products such as poultry, cheese, snacks, and meat are packed in an atmosphere designed to extend shelf life. Carbon dioxide is commonly used in CAP and MAP because of its ability to inhibit growth of bacteria that cause spoilage.
- The enhanced geothermal system technology consists of two ways to utilize carbon dioxide: by circulating it as heat exchange fluid; and directly using it as a working fluid in supercritical carbon dioxide power cycle.
- The others segment consists of enhanced coal bed methane recovery (ECBM), algal bio-fixation, and carbon dioxide injection to conventional methanol synthesis.
Asia Pacific expected to hold major share in the Carbon Dioxide Reuse Technologies Market
Geographically, the carbon dioxide reuse technologies market can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- Asia Pacific is projected to lead the global carbon dioxide reuse technologies market during the forecast period, due to the implementation of stringent environment laws and regulations in the region.
- The carbon dioxide reuse technologies market in North America and Europe is likely to expand at a rapid pace during the forecast period.
- Latin America and Middle East & Africa are expected to account for moderate share of the global carbon dioxide reuse technologies market during the forecast period.
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Key Players Operating in the Carbon Dioxide Reuse Technologies Market:
The carbon dioxide reuse technologies market is highly concentrated with top companies as the technologies have started taking pace recently
- Vattenfall AB
- Royal Dutch Shell Plc.