Yesterday I shared with you the second part of the CCUS technology and application series: CCUS can be turned into treasure
Today I share with you the third part: The scale of the CCUS industry still has a lot of room to be released
From the global market data, the CCUS industry has entered a period of rapid growth. In terms of investment scale, the investment scale of the CCUS project in 2020 is slightly less than US$3 billion, far higher than US$800 million in 2018 and US$1 billion in 2019.
From the perspective of the global CCUS project operation number, since 2020, global CCUS projects have grown explosively. During the period 2010-2020, 60 CCUS projects were put into operation around the world, 1.71 times that of the past decade. As CCUS technology gradually gains attention, the number of projects has always maintained a growth momentum. As of early September 2021, there were 170 CCUS projects worldwide, three times the total number in the past decade.
Whether in terms of the scale of industrial investment or the number of projects running, 2020 can be called the first year of the CCUS industry.
The global carbon capture volume in 2020 is about 40 million tons, but based on this data, the current carbon capture volume is far from meeting the emission reduction target set by United Nations in 2050.
According to the calculation data of the International Energy Agency (IEA), in order to achieve the 2050 emission reduction target set by the United Nations, CCUS's carbon capture capacity needs to be increased to 1.6 billion tons per year in 2030, and CO2 captured by CCUS must reach at least 5.6 billion tons/year by 2050 to be consistent with the achievement of net zero emissions by 2050.
Carbon emission reduction demand drives the expansion of the CCUS market. In order to achieve the emission reduction target in 2050, according to the International Energy Agency (IEA) estimates, CCUS investment will need to increase by US$160 billion by 2030; by 2050, an additional US$25,000-3 trillion is expected to be required. It can be seen that in the next 40 years, there is still a lot of room for the scale of the CCUS industry to be released urgently.The third part of the
CCUS technology and application series will be shared here. Tomorrow, I will share the content of the fourth part with you: Traditional carbon capture technology
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