China Carbon Credit Platform

Japanese media: In the field of carbon capture and carbon sequestration, the number of patents in China is three times that of the United States

SourceCenewsComCn
Release Time1 month ago

Japan's Nikkei Asian Review article, original title: China expands its green technology leadership to carbon capture and sequestration A survey by Nikkei Shimbun shows that China is improving its competitive advantage in advanced technologies to combat global warming, and is leading the world in terms of the number of patents related to the capture and storage of industrial carbon dioxide emissions. China has a clear lead in this field, three times that of the United States, which ranks second. China is becoming increasingly dominant in the decarbonization supply chain.

Carbon dioxide capture is considered the key to combating global warming. The technology captures carbon dioxide from the exhaust gases of factories and power plants and sequesters them underground or as a chemical feedstock. Companies around the world are racing to develop this technology, and the global carbon capture market is expected to expand to $15.24 billion by 2028, equivalent to 6.5 times that of 2021.

In collaboration with Japan's Mitsui & Co. Institute for Strategic Studies, Nihon Keizai Shimbun analyzes patents granted or otherwise obtained in major countries from 2000 to February 2024. Compared to 2015, the total number of patents held by Chinese companies and research institutions in this field has quadrupled to 10,191, accounting for almost half of the total number of related patents in the world. The quality of Chinese patents is also high, second only to the United States in terms of competitor attention and other factors. Since around 2005, China has rapidly narrowed the gap with the United States in terms of patent quality.

Chinese companies and research institutions have made extensive technological advances in the field of decarbonization. From the perspective of research institutions and enterprise rankings, the number of related patents of the Chinese Academy of Sciences and Sinopec ranks among the highest in the world. Among them, the Chinese Academy of Sciences has excelled in the technology to convert carbon dioxide into methane and other fuels. Sinopec has begun operating a large facility capable of sequestering more than 1 million tonnes of carbon dioxide per year under an oil field.

The total number of patents granted in this field in the United States is 3,574. ExxonMobil, Air Products, and General Electric are among the leading U.S. companies in this field. Japan ranks third with 2,977 patents. Mitsubishi Heavy Industries has highly competitive technologies in CO2 separation and transportation.

"Many companies have already set specific targets to reduce greenhouse gas emissions by 2030. Technologies that capture and use carbon dioxide for decarbonization will become even more important. Deloitte Group Partner Masashi Kimura said. China is working to develop decarbonization technologies across the country. In addition to electric vehicles and their batteries, China has become the world's leading producer of photovoltaic panels and wind power equipment. (Translated by Wang Huicong)

RegionChina
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