New York, Oct. 04, 2023 (GLOBE NEWSWIRE) — The global carbon capture and storage market size is predicted to expand at ~15% CAGR between 2023 and 2035. The market is projected to garner a revenue of USD 11 billion by the end of 2035, up from a revenue of ~USD 5 billion in the year 2022.The major element encouraging the growth of the market is the rise in the emission of carbon dioxide. In 2022, the amount of carbon dioxide (CO2) released into the atmosphere as a result of industrial activities and the burning of energy increased by about 0.8%, or approximately 320 Mt, to a new record-high of about 35 Gt. Hence, with the guidance of carbon capture and storage this growing emission is estimated to be captured.
(GlobeNewsWire)