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Using Waste Carbon Feedstocks to Produce Chemicals Although there are no comprehensive data yet on the uptake of CCU projects by the chemical and non- chemical industries, broad estimates exist about the overall potential scope and value of “carbontech” projects to reduce CO2. As mentioned earlier, the term “carbontech” is broader than CCU, describing the technologies and processes that convert waste products such as emissions streams and MSW to new products while reducing the manufacturer’s environmental footprint. Use of waste carbon from industrial emissions is one of many carbontech processes being implemented to reduce carbon emissions (figure 5). Figure 5 Sample carbontech processes Source: Lucas, “Carbontech and the New Carbon Economy,” presentation made on June 20, 2018. Reprinted with permission. Estimates of the size of the U.S. and global carbontech markets vary but they are very large. The U.S. market for all carbontech processes is projected to be valued at over $1 trillion annually by 2030 and the global market could reach $6 trillion per year.27 Thyssenkrupp, speaking specifically of the market for technologies that reduce waste emissions, says it is “worth billions.”28 Another source, speaking just of chemicals, estimates that waste carbon could replace use of fossil fuels in the production of about $350 billion worth of chemicals.29 27 Lucas and Jacobson, “A Review of Global and U.S. Total Available Markets for Carbontech,” 2017; Roberts, “Pulling CO2 Out of the Air and Using it Could Be a Trillion-Dollar Business,” Vox.com, November 22, 2019. 28 Lucas, “Carbontech and the New Carbon Economy,” June 20, 2018; Reuters, “Thyssenkrupp to Cut CO2 Emissions by 30% over Next Decade,” July 2, 2019. 29 Industry representative, telephone interview with USITC staff, October 16, 2019. United States International Trade Commission | 11PDF Image | Using Waste Carbon Feedstocks to Produce Chemicals
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