The surging production of biofuels to obtain bioenergy from biomass in a way that heat & power can be generated during the process is further escalating the growth of the market in the forthcoming years.
According to MarkNtel Advisors study, The Global Bioenergy with Carbon Capture and Storage (BECCS) market is projected to grow at a CAGR of around 19.27% during the forecast period, i.e., 2024-30.
With the growing bio-economy, there is rising competition for biomass resources & land across the globe. This augmented the pressure on sustainable biomass production & land use. The rising biomass demand for bioenergy with carbon Capture and Storage impacts both the industrial & power sectors, as sustainable management & appropriate sustainability standards are necessary for biomass. This is owing to the BECCS feedstock produced on land that does not impact food production, biodiversity, soil carbon stocks, or causes negative land use changes. In addition, a shift in the usage of biomass feedstock production has been proposed for both abandoned & existing agricultural land that is inefficient for food production. Therefore, the lack of sustainable biomass resources & land is predicted to hamper the market revenue in the coming years.
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Key Findings in Bioenergy with Carbon Capture and Storage (BECCS) Market:
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Historical Years |
2019-2022 |
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Base Years |
2023 |
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Forecast Years |
2024-2030 |
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Key Report Highlights |
· Market Dimensions & Projections
· Pricing Evaluation, · Recent Strategic Moves by Companies, · Primary Stakeholders, · Analysis of Import and Export Trends, · Competitive Landscape Assessment, · Emerging Opportunities, · Market Trends and Indicators |
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Reports Delivery Format
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Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address. |
Bioenergy with Carbon Capture and Storage (BECCS) Market Key Players:
Drax Group, Chevron Corporation, Sekab BioFuels & Chemicals AB, Schlumberger New Energy, Clean Energy System, Shell, Aker Carbon Capture, Others
Market Segmentation Overview:
By End Use
-Ethanol Production
-Pulp & Paper Mills
-Cement Production
-Biogas Production
-Others (Iron & Steel, Power Generation)
By Application
-Biomass Conversion
-Carbon Storage
Biomass conversion is anticipated to hold a significant share in the Global Bioenergy with Carbon Capture and Storage (BECCS) Market in the coming years. This process occurs by digestion or fermentation, producing gaseous & liquid fuels, respectively. The most common fuel is bioethanol, which produces a pure stream CO2 stream during the fermentation process. The CO2 is compressed & stored, omitting the need for capture, thus the subsequent combustion of biofuel or gas also produces CO2, further resulting in declining overall carbon emissions.
By Form of Energy
-Heat
-Electricity
-Biofuels
By Technology
-Oxy-combustion (Oxyfuel)
-Pre-combustion
-Post-combustion
-Others (Direct Air Capture, Chemical Looping, etc.)
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By Region
North America
South America
Europe
The Middle East & Africa
Asia-Pacific
The Bioenergy with Carbon Capture and Storage (BECCS) Industry Recent Development:
In 2022, around 23 R&D projects selected, out of which four were BECCS projects, which includes three bio hydrogen projects. In these BECCS projects, nearly USD6.16 million investments was done.
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