A new market analysis from Polaris Market Research projects the global carbon capture, utilization, and storage (CCUS) market to grow from $5.81 billion in 2025 to $40.47 billion by 2034, a compound annual growth rate of 24.10%. The report highlights how tightening emissions regulations and corporate net-zero targets are pushing hard-to-abate sectors like cement, steel, chemicals, and power generation toward point-source capture and direct air capture. Investment in CO2 transport networks and utilization routes, such as converting captured carbon into concrete or paper, is also supporting market expansion. Cost remains the biggest hurdle. The report estimates power-plant capture costs near $100 per ton of CO2, compared to under $35 per ton for lower-cost uses like ethanol production, and transport and storage add more. Regional data shows Europe leading with a 50% market share in 2025, North America at 20%, and Asia Pacific growing fastest at a 26% CAGR. Key players include Exxon Mobil, Shell, Equinor, and Mitsubishi Heavy Industries, with recent government support in the UK and India signaling policy momentum for CCUS deployment.
