SHANGHAI, April 30, 2019 (Newswire.com) - The Chinese CCUS (carbon capture, utilization, and storage) treatment capacities grew rapidly in the past decade. The accumulated CO2 treatment capacities in China were estimated to grow from merely 22,600 tons per year in 2007 to over 3.5 million tons per year in 2018, at a CAGR 58.3 percent, according to a new report, named “CO2 Management And Utilization Technology Landscape in China 2019” published by Innova Research, a Shanghai-based market research and consulting firm focusing on emerging technologies.
The report examines the Chinese CO2 management and utilization value chain, including CO2 separation and concentration, CO2 conversion and utilization, and downstream applications, and identifies the pilot and commercial CCUS projects in China. These projects and their CO2 treatment capacities are further split by region, by project status (running, pending, closed, launching), and by downstream applications, namely, agrochemical, building material, fuel and chemical, healthcare supplemental, polymer and bioplastics, enhance oil recovery, and others, respectively. Moreover, relevant Chinese regulations are also discussed in the report.
Among the key findings:
- East China takes the largest CO2 treatment project capacity share by the end of April 2019. In this region, a lot of efforts have been put at the commercialization of CO2 conversion and upgrading technologies, focusing on value-added applications such as bioplastics, fine chemicals, and building materials, among others
- In CO2 capture and separation technology field, chemical absorption takes the largest share in the CO2 treatment projects (by project counts). It is followed by algal collection and membrane technologies for CO2 capture and separation. Physical absorption and adsorption are also used by some commercial projects but take smaller shares
- The largest portion of the CO2 utilization projects are targeting polymer and bioplastics and enhanced oil recovery applications, while the industrial interests in polymer and bioplastics applications are focusing on CO2-based polycarbonate and other polymers, such as PPC and PU
Nancy Wu, Research Director at Innova Research, commented: “China is one of the largest carbon dioxide emission countries in the world. CO2 management and utilization has become a hot topic in China due to the Chinese regulations on carbon tax, which is expected to be introduced in the near future; the growing market demands from industrial players with high CO2 emissions, such as steel companies, cement and concrete makers, among others; and the progress on CO2 utilization technologies towards high value-added products. The rapid growth of the relevant market and technology demands will be accelerated, offering great business opportunities to the relevant technology developers around the world.”
About Innova Research
Innova Research is a market research and consulting firm focusing on emerging technologies, including advanced materials, renewable energy and environmental technologies, advanced electronics, industry internet and robotics, energy storage, among others. The company also provides technology scouting and deal sourcing services to corporate VCs, VCs, and corporate R&D clients. Driven by primary research, Innova Research’s market intelligence reports, technology scouting and consulting services help our clients to make right strategic and investment decisions in the fast-changing technology world. Visit www.innovaresearchinc.com for more information.
Source: Innova Research