A global boutique consultancy, we serve our clients in two ways: via client directed projects (TCG Consulting) and via various programs and studies (TCG Resources).

Demand for Captured CO2 for Use in Fuels and Chemicals


New Multi-Client Study

Demand for CO2 Captured from Industrial Sources Expected to Disrupt Markets Across
Applications Including Fuels, Chemicals and Materials (e.g., Polymers, Concrete, etc.)!

View Proposal Here (PDF format)

“Demand for Captured CO for Use in Fuels and Chemicals”

While CO2 has been used for enhanced oil recovery (EOR) for some time, its use as a raw material for fuels and chemicals production is still relatively new, with little existing industrial analysis regarding its current and potential market size or technical maturity. Due to the growing impact of CO2’s role in climate change and the desire to produce durable goods and fuels not based on fossil carbon, increasing amounts of resources are being applied to CO2 capture and use, as seen by the ever-growing number of start-up companies in this field, as well as the growing number of potential applications for CO2 being investigated. Organizations such as the Oil and Gas Climate Initiative (OGCI) and the European Commission (EC) have dedicated funds to develop CO2 usage. Clearly, the demand for CO2 utilization is increasing, and with it comes opportunities in the marketplace, which are certain to have significant impact on the incumbent products and technologies.  This TCGR study will provide a map of the potential target products and their market size/growth over the next 30 years – with a timeline to commercialization – as well as the challenges to further adoption, driving R&D and engineering efforts to create further efficiencies, reducing costs and ultimately increasing sales.

In its groundbreaking 2012 report for members of its CO2 Capture and Conversion (CO2CC) Program entitled “Analysis of Demand for CO2”, TCGR took a first look at the short-, medium- and long-term supply and demand data for CO2 and estimated a market demand of just over 1,000 mt for use in chemical compounds in 2020. Since that time, the need for CO2 capture and conversion has increased, and new technologies have emerged for CO2 conversion into other products. The importance of life-cycle analysis (LCA) and its impacts on the attractiveness of each conversion route have also grown. This report will update and extend our 2012 study to include LCA and become available to non-members of the CO2CC Program as a multi-client report.

Figure 1: Potential CO2 Markets and Timescales

Source: TCGR’s CO2 Capture & Conversion (CO2CC) Program

Since the 2012 study, there have been exciting announcements of commercial applications of CO2 conversion, such as the production of cardyon™ polymers from Covestro, the conversion of CO2 into methanol, and its incorporation into process routes to hydrogen, syngas, and sulfuric acid by SABIC. Linde is capturing CO2 from Shell’s Rotterdam refinery and feeding it to local greenhouses, selling to food suppliers to extend shelf life, and sequestering the remainder in underground caverns. BASF has made announcements regarding research activities to make acrylic acid, sodium acrylate and acetone from CO2, while Evonik is investigating use of CO2 to make hexanol and butanol. Furthermore, Linde and BASF have partnered to create a solution for dry reforming of methane, expected to be commercialized in 2020, with further developments in the next few years to convert that syngas to dimethyl ether (DME) and olefins. Longer term outputs from CO2 utilization could include large-scale algal production of fuels (ExxonMobil) or its use as an air conditioning fluid.  The linkage between technology and markets is a feature of every TCGR multi-client study and will provide insights into this potential market unavailable elsewhere.

Figure 2: Potential Utilization Streams for Captured CO2

Source: NARUC, Nov. 2018

Critical topics this study will address include:

  • Commercial and potentially commercial products made from CO2, quantities, and process routes for each, including life-cycle analysis (LCA) impacts
  • Timelines for commercialization over the next 30 years
  • Technology advances, drivers and remaining hurdles
  • Key global players in development and commercialization of new technologies
  • Regional outlooks based on market opportunities and regulatory drivers
  • Strategies for implementation

All TCGR multi-client studies are characterized by competitive and strategic insights for industrial and financial companies to evaluate. These include key trends, concerns, and conclusions on the best return on investment (ROI) actions, competitive expectations, and strategic SWOT’s on the players. TCGR is noted for its sound strategic advice in over 35 years of experience.  This proposed study is a “by the industry, for the industry” assessment and a “must have” for future success in industrial CO2 capture/utilization globally!

This proposed multi-client study is scheduled for completion in February 2020.

 * * * * *

Additional information, including the complete study proposal, the preliminary Table of Contents and the Order Form, is available via the link below or by contacting Steve Deutsch at +1.215.628.4447 or sdeutsch@catalystgrp.com.

* * * * *

As it does in each of its industrially-focused multi-client studies, TCGR will seek input from “charter” subscribers (i.e., those who sign up prior to study launch, scheduled on or before October 11, 2019) to help shape the report’s final scope/TofC by nominating specific study content as well as delineating areas of particular interest for inclusion, as depicted in Sections III, IV and V in the preliminary TofC

* * * * *

The Catalyst Group Resources (TCGR), a member of The Catalyst Group, is dedicated to monitoring and analyzing technical and commercial developments in catalysis as they apply to the global refining, petrochemical, fine/specialty chemical, pharmaceutical, polymer/elastomer and environmental industries. 

Download PDF