Report Scope
This report has segmented the market based on technology type, carbon credit buyers and region. The report provides an overview of the global carbon dioxide removal market and analyzes market trends. Using 2022 as the base year, the report provides estimated market data for the forecast period from 2023 to 2028. Revenue forecasts for this period are segmented by product type and geography. Market values have been estimated based on the total revenue of carbon dioxide removal companies.The report covers the market for carbon dioxide removal with regard to the user base across different regions. It also highlights major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for carbon dioxide removal in 2022 and provides projections for the expected market size through 2028.
Report Includes
- An overview of the global market landscape related to the carbon dioxide removals (CDR)
- In-depth analysis of global market trends, featuring historical revenue data for 2022, estimated figures for 2023, as well as forecasts for 2028. This analysis includes projections of Compound Annual Growth Rates (CAGRs) spanning through 2028
- Evaluation of the current market size and revenue growth prospects specific to carbon dioxide removals (CDR), accompanied by a comprehensive market share analysis categorized by technology type, carbon credit buyers, and geographical region
- Coverage of evolving technologies and highlights of the current and future market potential and a detailed analysis of the regulatory framework and reimbursement scenarios
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Detailed profiles of leading market participants, providing a descriptive overview of their respective businesses
Table of Contents
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Chapter 4 Market Breakdown by Technology Type
Chapter 5 Market Breakdown by Carbon Credit Buyers
Chapter 6 Market Breakdown by Region
Chapter 7 Company Profiles
List of Tables
List of Figures
Executive Summary
The global carbon dioxide removal market witnessed sharp growth from 2022 to 2023. This growth is attributed to the huge investment by the carbon credit buyers in the CDR industry to support the global initiatives for achieving net zero emissions. Some of these big deals are given below.In May 2023, JPMorgan Chase, an American multinational financial services firm, announced an investment of $200 million to support the development of CDR technologies. The partner companies include Climeworks, CO280 Solutions Inc., Charm Industrial and Frontier.
In November 2023, Microsoft Corp., an American technology company, announced an investment in numerous large-scale projects to support carbon dioxide removal as part of its targets to be carbon-negative by 2030 and to remove the equivalent of all its cumulative GHG emissions by 2050. The partner companies include Heirloom, Ørsted A/S, CarbonCapture, and Running Tide.
Other large-scale CDR deals include Charm Industrial’s $53 million long-term contract with Frontier and a CDR purchase contract between Mitsubishi Corp. and NextGen, among others.
Industry is the foundation for thriving and economic growth in societies. It must also be a central part of the clean energy transition, as the source of nearly one-quarter of CO2 emissions. Industry emissions can be one of the most difficult to reduce in the energy system, especially due to process emissions caused by chemical or physical reactions and the requirement for high temperatures. To address the decarbonization challenge in support of sustainable and competitive industries, a portfolio of technologies and approaches is needed. In this sustainable transformation, the capture, removal, storage and use of carbon is expected to play a critical role.
The market segmentation based on the technology type, carbon credit buyers, and region has been provided in the report, along with their market share and growth rate during the forecast period. Based on technology type, the carbon dioxide removal market has been segmented into biochar, enhanced mineralization, direct air capture (DAC), bioenergy with carbon capture & storage (BECCS), ocean alkalinization and others. Based on carbon credit buyers, the carbon dioxide removal market has been segmented into the finance sector, technology sector and others.
By geographical region, the carbon dioxide removal market has been segmented into North America, Europe, the Middle East and Africa (EMEA), Asia-Pacific (APAC) and South America. The North American region currently dominates the global market. In 2022, total revenue from the North American market reached $166.9 million, which comprises 45.1% of the overall market. The presence of leading market players, robust technology infrastructure, a surge in demand for carbon dioxide removal technologies, and increasing initiatives by market players to increase carbon removal and capture capacity in the region is expected to boost regional market growth.
Companies Mentioned
- Arca (Formerly Carbin Minerals)
- Bussme Energy Ab
- Carbofex
- Carbon Engineering Ltd.
- Cella Mineral Storage
- Climeworks Ag
- Global Thermostat
- Wakefield Biochar
