New advancements in CO2 utilization technology may revolutionize the chemical sector by converting emissions into profitable chemicals, potentially reshaping the industry’s environmental impact.
The chemical industry, responsible for a significant 2% of global anthropogenic CO2 emissions, may be on the cusp of a transformation that not only helps tackle its carbon footprint but also turns a waste product into a profitable resource. Advancements in carbon dioxide utilization technology hold the promise of converting captured CO2 into a variety of valuable chemicals, offering a new revenue stream that could potentially accelerate the deployment of carbon capture, utilization, and storage (CCUS) technologies.
Historically, the chemical sector has leaned heavily on finite fossil fuel feedstocks. However, companies like Asahi Kasei and Aramco Performance Materials are pioneering the use of CO2 as a raw material for creating polymers. Asahi Kasei first commercialized a process in 2002 to make aromatic polycarbonates. Since then, the production capacity and application of CO2-derived polymers have slowly expanded. In the UK, Econic Technologies recently introduced new technology for the production of memory foam mattresses, further evidencing the potential for CO2 utilization.
These initiatives demonstrate that CO2-derived chemicals are not just theoretical but are already proving economically viable. Despite the profitability of such ventures, it has been noted that production volumes and CO2 utilization rates in the industry remain relatively small. This suggests continued potential for growth driven by enhanced material performance, rather than merely by regulatory pressures or carbon credits.
Looking beyond polymers, the future shines hopeful for CO2-derived products like ethanol, methanol, and even novel materials such as carbon nanotubes and graphene. Companies are exploring innovative ways to leverage CO2, including using industrial off-gases from steel mills or coke production as sources of hydrogen for chemical synthesis, a method that has been successfully commercialized by LanzaTech and others.
However, challenges remain significant. For CO2-derived chemicals to make a substantial impact on global emissions, the chemical industry must undergo substantial transformation. Decisions on whether to preserve, repurpose, or replace industrial assets need to be made swiftly. Additionally, the cost and availability of clean hydrogen, a crucial element in the production of many CO2-derived chemicals, is a considerable hurdle. It’s projected that green hydrogen economics might not become favorable until the 2030s, reliant on advancements in renewable energy and electrolyzer technologies.
Moreover, while alternative technologies like the electrolysis of molten salts show potential for simplifying CO2 conversion processes, they demand access to cheap, green electricity and are yet to be proven at scale. The volumes of CO2 utilized in such processes are tiny compared to global outputs, and the overall energy requirements can dampen the net environmental and economic benefits.
The journey towards mainstreaming CO2 as a chemical feedstock is fraught with technical, economic, and regulatory challenges. Yet, the innovations sprouting within this space not only highlight the ingenuity of the sector but underscore an essential shift towards sustainable industrial practices.
As the chemical industry continues to evolve, the integration of CO2 utilization technologies could play a pivotal role in reducing the sector’s carbon footprint while also offering new avenues for growth and sustainability. The ongoing research, development, and commercialization of these technologies will be crucial in determining their viability and impact on both the market and the broader goal of achieving net-zero emissions.
