Post COP21 Commitment, CCS Market Set to Grow by Leaps and Bounds
In December 2015, the 21st annual Conference of Parties, dubbed as COP21, committed to bring the greenhouse emissions down in order to cap the global temperature increase to less than 20C over the pre-industrial levels. The commitments made in COP21 are expected to be adhered to by at least 55 countries that account for 55% of the global greenhouse emissions. CCS is increasingly being viewed as a viable option to achieve the same. Being a capital intensive method in the initial stages, it is yet to gain popularity in developing economies, which happen to be significant contributors to the global greenhouse gas emissions. This opens many avenues for research to make this method cost effective for application in developing countries. The cost for every ton of CO2 avoided comes close to USD 60 as of now, but by the end of the next decade, these prices can be cut by almost half.
As of now, the U.S. and China are the largest revenue generators for the CCS market. As there is no dearth of geological sites where CO2 can be stored, this technique can virtually be applied all around the world. In fact, there is quite a number of applications where it can be used, the most notable ones being natural gas processing, gas-fired power, coal-fired power, CCS with bioenergy, enhanced oil recovery using CO2 and industrial sectors including steel, cement, chemicals, fertilizers, hydrogen and refining. All it requires is further research to become economy-wise viable for all the countries in the world.
- Specialty Gas Market - By Types (High Purity, Noble, Carbon, Halogen), By Application (Photo Voltaic Cells Plasma Display Panels, Laser Systems & Equipment) By Industry (Manufacturing, Electronics, Healthcare, Academics, & Others) - Forecast 2016 – 2021 http://industryarc.com/Report/15084/specialty-gas-market.html
- Chloromethane Market - By Type (Methyl chloride, Chloroform, Carbon Tetra chloride); By Application (Agriculture, Pharmaceuticals, Agro Chemicals, Metal Cleaning, Paint Removal) & By Geography - Forecast (2016 - 2021) http://industryarc.com/Report/15113/chloromethane-market.html
- Carbon Black Market: By Type (Acetylene Black, Channel Black, Furnace Black, Lamp Black, Thermal Black) By Application (Automobile, Industrial, Plastics, Paint & Coatings, Printing Ink & Toner Sector) and By Geography - Forecast (2015-2020) http://industryarc.com/Report/11644/carbon-black-market.html
IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.
We look forward to support the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.
Mr. Venkateshwar Reddy
Business Development Manager