<p>Carbon capture and utilization (CCU) is emerging as an essential component of Indonesia’s decarbonization strategy, offering pathways to convert carbon dioxide (CO₂) emissions from coal-fired power plants into industrially valuable products. This study develops a multi-criteria assessment approach that combines system-level screening with pathway-specific feasibility evaluation to identify CO₂-derived chemicals most suitable for Indonesia’s industrial conditions. From an initial set of 15 potential products, weighted technical, economic, and environmental criteria consistently highlight methanol as the leading commodity due to its relatively high technology readiness, strong domestic demand, and proximity with major CO₂ point sources. Polyurethane (PU) also shows strong potential, reflecting opportunities enabled by CO₂-based polyols and their higher value applications. In contrast, calcium carbonate (CaCO₃) appears viable mainly in niche markets, as bulk production faces strong competition from established limestine-based cement pathways. Spatial analysis further demonstrates the concentration of methanol, PU, and specialty CaCO₃ demand within Indonesia’s western industrial corridors, providing a concrete basis for regionally targeted CCU deployment. These findings align with evolving policy landscape, including the carbon tax and Indonesia’s developing carbon trading mechanisms, both of which may enhance the financial viability of CCU pathways linked to existing industrial hubs. By integrating multi-criteria analysis with spatial analysis, this study offers a preliminary decision-oriented framework to support early-stage CCU investment planning, industrial strategy, and policy development in emerging economies. The results underline the need for detailed technoeconomic and life-cycle assessments to guide the scale-up of CO₂ utilization in Indonesia’s transitioning energy and industrial landscape.</p>