Market Research Report

Belgium Bioenergy with Carbon Capture and Storage (BECCS) Market Key Takeaways

• Belgium bioenergy with carbon capture and storage (BECCS) market size was valued at around USD 3.53 billion in 2025 and is projected to grow from USD 9.12 billion in 2026 to USD 40.12 billion by 2032.
• The industry is projected to witness steady growth at a CAGR of 28.01 % during 2026-2032.
• Solid biomass combustion and conversion led the bioenergy segment with a 65% share in 2026.
• Waste-to-energy accounted for a 31% share of the industrial application segment in 2026.
• The industry is moderately fragmented.

Belgium Bioenergy with Carbon Capture and Storage (BECCS) Market Size and Outlook

The bioenergy with carbon capture and storage (BECCS) market in Belgium is growing from USD 3.53 billion in 2025 to USD 40.12 billion by 2032, registering a CAGR of approximately 28.01% during 2026–2032, as the country seeks to address residual emissions from hard-to-abate sectors while advancing its climate-neutrality objectives. BECCS provides a pathway to capture biogenic CO₂ from biomass, bioenergy, and waste-based processes and permanently store it, creating potential net-negative emissions while retaining energy production. This need is strengthening as conventional renewable-energy deployment alone cannot eliminate all industrial emissions.

Consequently, Belgium is moving toward integrated BECCS and CO₂ infrastructure, supported by industrial decarbonization, carbon-removal requirements and investments in capture, transport and storage networks. The trend is shifting from individual capture projects toward large-scale, interconnected systems, particularly around major industrial clusters, creating a broader deployment base. Over the forecast period, increasing project development and infrastructure availability are expected to accelerate BECCS adoption, benefiting capture-technology providers, bioenergy operators, engineering companies and CO₂ infrastructure developers through rising demand for efficient, scalable and cost-effective solutions.

Bioenergy with Carbon Capture and Storage Investment Landscape in Belgium

Belgium’s BECCS investment landscape is gaining momentum as public funding is increasingly being used to de-risk capital-intensive carbon-capture projects. In March 2026, the European Commission approved USD 302 million in additional Belgian State aid for Kairos@C, following more than USD 424 million in earlier EU Innovation Fund support. The additional funding was required because project costs had increased significantly, demonstrating the substantial capital requirements of large-scale carbon-removal infrastructure.

This financing trend is strengthening the commercial pathway for BECCS by enabling projects that may otherwise struggle to reach investment decisions. Belgium’s Innovation Fund portfolio includes four large-scale projects with USD 775 million in committed EU support, while new funding rounds continue to expand the pipeline for industrial decarbonization technologies. As public funding reduces project risk, manufacturers can benefit from increasing demand for CO₂ capture, conditioning, compression, liquefaction, and transport equipment, while successful projects can accelerate technology deployment and create additional opportunities across Belgium’s BECCS value chain.

Belgium Bioenergy with Carbon Capture and Storage (BECCS) Market Scope

Belgium Bioenergy with Carbon Capture and Storage (BECCS) Market Growth Drivers

Rising Need to Address Residual Emissions from Hard-to-Abate Industries

Belgium’s industrial decarbonization challenge is creating a structural need for negative-emission solutions, as efficiency improvements, electrification and fuel switching cannot eliminate all industrial emissions. Belgium’s climate-neutrality pathway indicates that industry could retain up to 5.7 MtCO₂e of emissions in 2050, requiring residual emissions to be compensated through negative-emission technologies such as BECCS. This creates a direct demand base for BECCS, particularly where biogenic CO₂ from biomass, bioenergy and waste-based processes can be captured and permanently stored.

This need is increasingly translating into infrastructure development that can support larger-scale deployment. Antwerp@C is designed with an initial CO₂ export capacity of 2.5 Mtpa, with potential expansion to 10 Mtpa by 2030, while Fluxys c-grid is developing interconnected CO₂ transport infrastructure across Belgian industrial regions. In parallel, the EU adopted its first BioCCS certification methodology in 2026, improving recognition and investment visibility for permanent biogenic carbon removals. As this structural demand strengthens, manufacturers and technology providers are expected to benefit from a larger project pipeline and rising demand for capture, compression, transport, and storage solutions, expanding the overall BECCS market.

Recent Trends

Growing Shift Toward Integrated BECCS and CO₂ Infrastructure Networks

Belgium’s BECCS market is increasingly moving from standalone capture projects toward integrated networks that connect bioenergy facilities with shared CO₂ transport and permanent storage infrastructure. This shift is gaining momentum as Belgium establishes dedicated CO₂ networks to connect industrial emitters with storage locations. In 2025, Fluxys c-grid was appointed as the CO₂ network operator in Wallonia and Flanders, creating a regulated framework for developing interconnected transport infrastructure. The development continued in 2026, when Fluxys c-grid Antwerp was appointed the local network operator for the Antwerp port area, strengthening the infrastructure needed for larger-scale deployment.

As these networks expand, the market is structurally shifting toward shared, open-access CO₂ infrastructure, allowing multiple bioenergy and industrial facilities to connect to common transport and storage systems rather than developing individual chains. This model can reduce infrastructure duplication and improve the scalability of BECCS projects. The shift is further supported by the EU’s 2026 BioCCS certification methodology, which establishes standardized requirements for quantifying and verifying permanent biogenic carbon removals. Together, network development and standardized certification are creating a more investable BECCS ecosystem, increasing long-term demand for capture, compression, pipeline, terminal and storage technologies.

Belgium Bioenergy with Carbon Capture and Storage (BECCS) Market Opportunities and Challenges

High Energy and Operating Requirements Driving the Development of Energy-Efficient CO₂ Capture Technologies

High energy requirements during CO₂ capture can limit the economic viability of BECCS projects by increasing operating costs and reducing the net amount of carbon removed. The European Commission identifies energy consumption as a key contributor to CCS operating costs and estimates that CCS-equipped industrial facilities can face 30–70% higher upfront and operating costs than conventional facilities. This challenge becomes particularly relevant for BECCS because energy consumed during capture can reduce its overall carbon-removal benefit, increasing the need for technologies that deliver high capture rates with lower energy requirements.

As this cost and efficiency challenge becomes more important for project developers, it is creating opportunities for manufacturers to improve capture solvents, separation systems, heat integration, and other low-energy capture technologies. The IEA estimates that first-of-a-kind BECCS projects can cost around USD 75–300 per tonne of CO₂ removed, while highlighting technology learning, plant optimization, and economies of scale as important pathways for reducing costs. Belgium’s developing project pipeline, including Kairos@C and ARCaDe, provides a potential deployment base for these improvements. As a result, manufacturers that reduce the energy penalty of capture can improve project economics while strengthening the scalability of Belgium’s BECCS market.

Segmentation Insights

Solid Biomass Combustion and Conversion Dominates the Bioenergy Segment with 65% Share Through an Established Biomass-Based Energy Generation Base

Solid biomass combustion and conversion leads Belgium’s BECCS market with a 35.59% share, supported by the country’s established use of solid biofuels for electricity and heat generation. In 2025, Belgium generated 1,749 GWh of electricity from solid biofuels, compared with 1,283 GWh from biogas and 1,053 GWh from renewable municipal waste, indicating a relatively larger solid-biomass energy base available for carbon-capture integration. This existing deployment provides suitable facilities where BECCS can be incorporated into established biomass conversion processes, reducing the need to develop entirely new bioenergy pathways.

The segment’s strength is further supported by the ability of biomass combustion facilities to generate continuous and relatively concentrated CO₂ streams, making them suitable for capture and subsequent storage. Belgium’s energy-system modeling continues to include biomass power and biomass CHP as future energy-system components, reflecting their ongoing role in the country’s energy mix. As carbon-capture deployment expands, this established biomass base creates a growing addressable pool for capture, flue-gas treatment, compression, and conditioning equipment, reinforcing solid biomass combustion and conversion as the leading bioenergy segment. Based on bioenergy, the market is segmented into:

• Solid Biomass Combustion and Conversion
• Biogas and Biomethane
• Liquid Biofuels, Particularly Ethanol
• Biogenic Municipal Waste
• Pulping Liquors and Industrial Biogenic Streams
• Others

Waste to Energy Dominates Industrial Application with 31% Share Through Established Waste Treatment and Energy Recovery Infrastructure

Waste to Energy leads Belgium’s BECCS industrial application because the country has an established waste-treatment system that combines biogenic feedstock availability with energy recovery, creating a practical base for integrating carbon capture. Belgium generated around 8.3 million tonnes of municipal waste in 2024, with significant volumes directed toward incineration with energy recovery. This existing infrastructure gives Waste to Energy a natural advantage because capture systems can be integrated into operating facilities while preserving their primary waste-treatment and energy-generation functions.

This established base is now creating a clearer pathway toward BECCS as waste facilities increasingly explore carbon capture. IPALLE’s Thumaide facility, for example, processed more than 418,000 tonnes of waste through energy-recovery incineration in 2023 and generated 286.5 GWh of electricity, while its Waste2Emission0 initiative is developing CO₂ capture at the site. As similar facilities adopt capture solutions, the combination of consistent biogenic feedstock, existing energy-recovery assets, and capture potential can expand the addressable BECCS base, reinforcing Waste to Energy’s leading position within Belgium’s industrial applications. Based on industrial applications, the market is segmented into:

• Waste to Energy
• Biomass Power Generation
• Combined Heat and Power
• Bioethanol and Biorefineries
• Biogas and Biomethane
• Pulp and Paper
• Cement and Lime
• Others

Belgium Bioenergy with Carbon Capture and Storage (BECCS) Market Competitive Analysis

The Belgium bioenergy with carbon capture and storage (BECCS) market is moderately fragmented, with competition across capture, transport, liquefaction, and storage. The top five companies are BASF, Air Liquide, Fluxys, TotalEnergies, and Heidelberg Materials, supported by major Belgian CCS projects and infrastructure development.

Key Companies in the Belgium Bioenergy with Carbon Capture and Storage (BECCS) Market

• BASF
• Air Liquide
• Fluxys
• TotalEnergies
• ExxonMobil
• INEOS
• Heidelberg Materials
• Veolia
• Drax Group
• Others

Belgium Bioenergy with Carbon Capture and Storage (BECCS) Industry News and Recent Developments

June 2026: Belgium and UK Establish Framework for Cross-Border CO₂ Storage

Belgium and the UK signed a bilateral arrangement on June, 2026, establishing a framework for transporting CO₂ between the two countries for permanent geological storage. The agreement addresses a key regulatory barrier for cross-border CO₂ movement and supports the development of international CCUS infrastructure.

Impact Analysis: The agreement expands Belgium’s potential access to offshore geological storage and strengthens the cross-border infrastructure required for future BECCS projects. By enabling CO₂ exports for permanent storage, it can improve project flexibility and support investment in capture, transport, and storage infrastructure