Industries from cement to mining are creating plans to cap and cut their planet-warming emissions, and many depend on carbon capture.There are two main types of carbon capture and storage: Point-source carbon capture and storage sequesters CO2 produced at the source, like a smokestack, while direct air capture removes carbon dioxide from the atmosphere.
Several groups see a need for billions of tonnes of storage by mid-century; Exxon Mobil Corp expects a $2 trillion market by 2040.CEMENT AND CONCRETEThe Global Cement and Concrete Association recently announced a road map to net-zero cement by 2050 and pledged 10 industrial-scale carbon capture plants by 2030.
To hit emissions targets, 75% of CO2 produced globally by the sector needs to be captured, according to the World Steel Association. That equates to 14 steel plants with CCS technology built every year from 2030 to 2070. Currently, the world has only one large-scale iron and steel facility with CCS.