hydrogen prices, ranging from $4.5-12/kg compared with $1-3/kg for grey hydrogen, represent a second cost barrier. Despite expanding global electrolyser capacity, deployment lags far behind targets, with only a small fraction of projects reaching final investment decisions. Even with projected cost reductions, green hydrogen is expected to remain more expensive than grey hydrogen through 2030, particularly in regions with high renewable electricity prices. Ambitious policy goals, such as the EU’s 40 GW electrolyser target, face delays due to financing gaps and weak demand signals, while differences in definitions, additionality rules, and carbon accounting create investor uncertainty. CO₂ activation itself is energy-intensive, and efficiency constraints in electrochemical and thermochemical processes further add to costs. Infrastructure for transport, storage, and distribution also requires major investments, and industrial offtake agreements remain limited. Technological innovation must be supported with instruments such as subsidies, tax credits, and carbon markets, all of which are crucial for reducing these financial risks. The good news is that market demand for sustainable aviation fuels, carbon-neutral methanol, low-carbon concrete, and CO₂-based polymers is growing, with CCU potentially contributing 10-15% of emissions reductions by 2050, creating a market worth hundreds of billions annually. Companies like CarbonCure, LanzaTech, and Climeworks demonstrate economic viability by coupling technology with market demand and policy support. A carbon-smart economy is no longer a distant vision but an achievable reality where environmental responsibility and economic opportunity converge.
long-term storage while creating high-value industrial materials. ○ Graphene , a layer of single carbon atoms with exceptional electrical, thermal, and mechanical properties, can be synthesised directly from CO₂ using catalytic or plasma-assisted methods. These approaches not only valorise CO₂ but also provide a sustainable route to materials essential for electronics, energy storage, and composite reinforcement. ○ Carbon black , widely employed in tyres, plastics, and inks, can be produced from CO₂ through thermochemical reduction or plasma pyrolysis, substituting fossil-based precursors and embedding carbon into durable products. ○ Carbon nanotubes , celebrated for their strength and conductivity, can be generated by reducing CO₂ to carbon monoxide and assembling nanotube structures, with applications spanning lightweight composites, batteries, and next-generation electronics. While these CO₂-derived carbon materials offer higher market value than fuels or chemicals, their broader adoption faces challenges such as high energy demand, process inefficiencies, and limited scale-up. Nevertheless, integrating renewable electricity and advancing process technologies could transform solid carbon production into a cornerstone of sustainable materials industries, turning greenhouse gas into economically and technologically valuable resources. From carbon liability to industrial opportunity The transition to a net-zero future depends on our ability to harness the potential of CCU. Currently, unclear revenue streams and regulatory uncertainty result in investment hesitation, highlighting the need to reframe CO₂ as a valuable feedstock rather than waste. Scaling CCU hinges on overcoming the cost barriers for both carbon capture and renewable hydrogen. The cost of capturing CO₂ ranges from $40 to 120 per ton for post-combustion and more than $600 per ton for DAC. Supportive policies together with high penalties for carbon emissions (carbon prices) can provide incentives that overcome this barrier. In most CCU pathways, the captured CO₂ must be combined with hydrogen to produce fuels, chemicals, or polymers. Current green
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Dr. Vahide Nuran Mutlu vahide.mutlu@socar.com.tr Dr. Bilal Guliyev bilal.guliyev@socar.com.tr Başak Tuncer basak.tuncer@socar.com.tr
www.decarbonisationtechnology.com
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