Global Direct Air Carbon Capture Technology Market to Reach US$ 10.3 Bn by 2031; Growing at a CAGR of 14% over the Forecast Period (2023 – 2031)

Direct Air Carbon Capture (DAC) technology is an innovative approach to combating climate change by removing carbon dioxide (CO2) directly from the air. It involves using specialized systems to capture CO2 molecules from the atmosphere and then either storing them underground or converting them into useful products. This technology aims to reduce the concentration of CO2, a major greenhouse gas responsible for global warming, in the atmosphere.

How Direct Air Carbon Capture Works?

• Air Collection: Large fans draw in air from the surroundings, which contains a small amount of CO2 (about 0.04% of the air is CO2).
• CO2 Capture: The captured air is exposed to a material called a sorbent. This sorbent has the ability to chemically bind with CO2 molecules. As the air passes through the sorbent, the CO2 molecules stick to it, while the rest of the air continues through.
• CO2 Separation: After the sorbent captures CO2, it needs to be separated so that the CO2 can be collected. This separation is usually done using heat. When heated, the sorbent releases the CO2 molecules, which can then be collected.
• CO2 Utilization or Storage: The collected CO2 can be used for various purposes. It can be stored deep underground in geological formations, a process known as carbon sequestration. Alternatively, the captured CO2 can be used as a raw material for creating products like synthetic fuels, building materials, or even for enhancing greenhouse crop growth.

Global Direct Air Carbon Capture Technology Market Revenue Forecast, (US$ Million), 2018 – 2031

Growth Factors and Need for Global Global Direct Air Carbon Capture Technology Market:

• Addressing Past Emissions: Direct air carbon capture is important because it offers a way to remove CO2 that has already been released into the atmosphere from past activities. This is especially valuable because it can help mitigate the impacts of historical carbon emissions.
• Negative Emissions: By capturing more CO2 than is released, direct air carbon capture technology market can contribute to achieving negative emissions. This means that it helps offset the CO2 emissions from other sources, potentially even allowing us to reverse some of the environmental damage caused by excess CO2.
• Hard-to-Abate Sectors: Some industries, like aviation and heavy manufacturing, are difficult to decarbonize completely due to their reliance on fossil fuels. DAC can help these industries achieve carbon neutrality by capturing the CO2 they produce.
• Climate Goals: Many countries have set ambitious climate goals to limit global warming. Direct air carbon capture technology market plays a crucial role in achieving these goals by helping to reduce atmospheric CO2 levels.

The direct air carbon capture technology market has been evolving differently in Europe and North America due to varying policy landscapes, market dynamics, and investment priorities. Here are some key trends and differences between the two regions:

• European countries have been proactive in setting ambitious climate goals and regulations. The European Green Deal aims to achieve carbon neutrality by 2050, driving substantial interest in carbon capture technologies. Europe has implemented carbon pricing mechanisms, such as the Emissions Trading System (ETS), which create economic incentives for industries to invest in carbon reduction technologies like DAC. Countries across European have a strong tradition of research and innovation in sustainable technologies. Several European companies and research institutions are actively working on advancing direct air carbon capture technology market. European nations collaborate on research, development, and deployment of carbon capture technologies through organizations like the European Carbon Capture and Storage Association (ECCSA) and projects like the Northern Lights CCS project.

• Policy support for carbon capture technologies varies across North America. Some U.S. states and Canadian provinces have ambitious targets, while federal support in the U.S. has fluctuated depending on administration. The U.S. has seen significant private sector investments in clean energy technologies, including direct air carbon capture technology market. Private companies like Carbon Engineering and Global Thermostat have advanced DAC technology in North America. Additionally, North America’s entrepreneurial culture has led to the emergence of startups focused on DAC technology. These startups aim to drive innovation and bring DAC solutions to market.

Thus, both regions are actively investing in research, development, and deployment of direct air carbon capture technology market as a part of their broader strategies to address climate change and achieve carbon reduction goals.

Competitive Landscape

Key operating players in the global direct air carbon capture technology market are:

• Capture Carbon Infinity
• Carbon Engineering Ltd.
• Climeworks
• Global Thermostat
• Heirloom Carbon Technologies
• Infinitree LLC
• Mission Zero Technologies.
• Noya Inc.
• Skytree
• Soletair Power
• Sustaera Inc.
• Other Market Participants

Report Summary of Global Direct Air Carbon Capture Technology Market

Global Direct Air Carbon Capture Technology Market

By System Type

• Solid
• Liquid

By Deployment

• Indoor
• Outdoor

By End Users

• Renewable energy developers
• CO2 storage companies
• CO2 utilization companies

By Regmyrion

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)

Report Coverage and Deliverables

Table of Contents

By System Type

By Deployment

By End Users

By Region

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Note: This ToC is tentative and can be changed according to the research study conducted during the course of report completion.

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**Exclusive for Multi-User and Enterprise User.

Global Direct Air Carbon Capture Technology Market Segmentation

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Global Direct Air Carbon Capture Technology Market – System Type Outlook (Revenue, USD Million, 2018 – 2031)

Global Direct Air Carbon Capture Technology Market – Deployment Outlook (Revenue, USD Million, 2018 – 2031)

Global Direct Air Carbon Capture Technology Market – End Users Outlook (Revenue, USD Million, 2018 – 2031)

Global Direct Air Carbon Capture Technology Market – Regional Outlook (Revenue, USD Million, 2018 – 2031)

**Note: The report covers cross-segmentation analysis by region further into countries

The Niche Research approach encompasses both primary and secondary research methods to provide comprehensive insights. While primary research is the cornerstone of our studies, we also incorporate secondary research sources such as company annual reports, premium industry databases, press releases, industry journals, and white papers.

Within our primary research, we actively engage with various industry stakeholders, conducting paid interviews and surveys. Our meticulous analysis extends to every market participant in major countries, allowing us to thoroughly examine their portfolios, calculate market shares, and segment revenues.

Our data collection primarily focuses on individual countries within our research scope, enabling us to estimate regional market sizes. Typically, we employ a bottom-up approach, meticulously tracking trends in different countries. We analyze growth drivers, constraints, technological innovations, and opportunities for each country, ultimately arriving at regional figures.Our process begins by examining the growth prospects of each country. Building upon these insights, we project growth and trends for the entire region. Finally, we utilize our proprietary model to refine estimations and forecasts.

Our data validation standards are integral to ensuring the reliability and accuracy of our research findings. Here’s a breakdown of our data validation processes and the stakeholders we engage with during our primary research:

• Supply Side Analysis: We initiate a supply side analysis by directly contacting market participants, through telephonic interviews and questionnaires containing both open-ended and close-ended questions. We gather information on their portfolios, segment revenues, developments, and growth strategies.
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The forecasts we provide are based on a comprehensive assessment of various factors, including:

• Market Trends and Past Performance (Last Five Years): We accurately analyze market trends and performance data from preceding five years to identify historical patterns and understand the market’s evolution.
• Historical Performance and Growth of Market Participants: We assess the historical performance and growth trajectories of key market participants. This analysis provides insights into the competitive landscape and individual company strategies.
• Market Determinants Impact Analysis (Next Eight Years): We conduct a rigorous analysis of the factors that are projected to influence the market over the next eight years. This includes assessing both internal and external determinants that can shape market dynamics.
• Drivers and Challenges for the Forecast Period:Identify the factors expected to drive market growth during the forecast period, as well as the challenges that the industry may face. This analysis aids in deriving an accurate growth rate projection.
• New Acquisitions, Collaborations, or Partnerships: We keep a close watch on any new acquisitions, collaborations, or partnerships within the industry. These developments can have a significant impact on market dynamics and competitiveness.
• Macro and Micro Factors Analysis:A thorough examination of both macro-level factors (e.g., economic trends, regulatory changes) and micro-level factors (e.g., technological advancements, consumer preferences) that may influence the market during the forecast period.
• End-User Sentiment Analysis: To understand the market from the end-user perspective, we conduct sentiment analysis. This involves assessing the sentiment, preferences, and feedback of the end-users, which can provide valuable insights into market trends.
• Perspective of Primary Participants: Insights gathered directly from primary research participants play a crucial role in shaping our forecasts. Their perspectives and experiences provide valuable qualitative data.
• Year-on-Year Growth Trend: We utilize a year-on-year growth trend based on historical market growth and expected future trends. This helps in formulating our growth projections, aligning them with the market’s historical performance.

Research process adopted by TNR involves multiple stages, including data collection, validation, quality checks, and presentation. It’s crucial that the data and information we provide add value to your existing market understanding and expertise. We have also established partnerships with business consulting, research, and survey organizations across regions and globally to collaborate on regional analysis and data validation, ensuring the highest level of accuracy and reliability in our reports.