Carbon Dioxide Removal Global Market Report 2023:
Favorable Government Policies Drives Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Carbon Dioxide Removal Market – A Global and Regional Analysis- Focus on Technology Type, Carbon Credit Buyer, and Region – Analysis and Forecast, 2022-2031” report has been added to ResearchAndMarkets.com’s offering.
The global carbon dioxide removal (CDR) market was valued at $418.1 million in 2021, and it is expected to grow with a CAGR of 18.2% and reach $2,083.4 million by 2031.
The growth in the carbon dioxide removal market is expected to be driven by increasingly supportive government policies and growing investment and collaboration among industry players. However, high energy costs for some technologies and lack of monitoring, reporting, and verification are some of the factors hindering the growth of the market.
Market Lifecycle Stage
The global carbon dioxide removal market is in a growing phase. New trends, such as the focus on blue carbon and microalgae as a CDR tool, are expected to offer opportunities in the coming years.
Industrial Impact
With an increased worldwide focus on reducing carbon emissions, the shift towards technologies to remove carbon dioxide from the atmosphere is increasing, thereby creating demand for CDR. The shift is more prominent in regions such as North America and Europe.
How can this report add value to an organization?
- Product/Innovation Strategy: The product segment helps the reader understand the different types of technologies available for carbon dioxide removal and their potential globally. Moreover, the study provides the reader with a detailed understanding of the different carbon removal buyers, namely, technology sector, finance sector, and others.
- Growth/Marketing Strategy: Business expansion, partnership, collaboration, and joint venture are some key strategies adopted by key players operating in the space. For instance, in October 2022, Carbon Engineering Ltd. and Occidental Petroleum Corp. started the construction of a carbon removal plant in the Permian basin, U.S. The plant would have the capacity to draw 500,000 tons of carbon dioxide from the atmosphere per year using direct air capture technology.
- Competitive Strategy: Key players in the global carbon dioxide removal market analyzed and profiled in the study involve technology providers. Moreover, a detailed competitive benchmarking of the players operating in the global carbon dioxide removal market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Market Segmentation
Segmentation 1: by Technology Type
- Biochar
- Direct Air Capture (DAC)
- Enhanced/Carbon Mineralization
- Ocean Alkalinization
- Others
Based on technology type, biochar accounted for a 43.8% share of the global carbon dioxide removal market in 2021.
Segmentation 2: by Carbon Credit Buyer
- Finance Sector
- Technology Sector
- Others
Based on carbon credit buyer, the technology sector accounted for 66.2% of the global carbon dioxide removal market in 2021.
Segmentation 3: by Region
- North America – U.S. and Canada
- Europe – Germany, Norway, Italy, and Rest-of-Europe
- Asia-Pacific – Australia and Rest-of-Asia Pacific
- Rest-of-the-World (RoW) – Middle East and Africa and South America
Based on regional segmentation, North America accounted for a 58.0% share of the global carbon dioxide removal market in 2021.
Recent Developments in Carbon Dioxide Removal Market
- In October 2022, Carbon Engineering Ltd. and Occidental Petroleum Corp. started the construction of a carbon removal plant in the Permian Basin, U.S. The plant would have the capacity to draw 500,000 tons of carbon dioxide from the atmosphere per year using direct air capture technology.
- In October 2022, Climeworks completed the commercial operations of its first-generation technology at its world’s first commercial direct air capture facility in Hinwil, Switzerland. The operation would help the company to sharpen the focus and achieve gigatons of CO2 by 2050.
Key Questions Answered in the Report
- What is carbon dioxide removal?
- What are the key trends in the carbon dioxide removal market?
- What kinds of new strategies are being adopted by the existing market players to strengthen their positions in the industry?
- For a new company looking to enter the carbon dioxide removal market, which areas could it focus on to stay ahead of the competition?
- Who should buy this report?
Business Dynamics
Business Drivers
- Favorable Government Policies Drive the Development of Carbon Dioxide Removal
- Introduction of Carbon Dioxide Removal (CDR) Launchpad
- Investments and Collaborations Drive the Growth of Carbon Dioxide Removal
Business Challenges
- High Cost and Energy Usage Associated with Direct Air Capture (DAC)
- Lack of Proper Mechanism for Monitoring, Reporting, and Verification (MRV)
Business Opportunity
- Growing Demand for Carbon-Neutral Concrete
Key Topics Covered:
1 Markets
2 Application
2.1 Carbon Dioxide Removal Market – Carbon Credit Buyers and Specifications
2.1.1 Technology Sector
2.1.2 Finance Sector
2.1.3 Others
2.2 Demand Analysis of Carbon Dioxide Removal Market (by Carbon Credit Buyer), Value and Volume Data
3 Products
3.1 Carbon Dioxide Removal Market – Technology Types and Specifications
3.1.1 Biochar
3.1.2 Direct Air Capture (DAC)
3.1.3 Enhanced/Carbon Mineralization
3.1.4 Ocean Alkalinization
3.1.5 Others (BECCS and Microalgae)
3.2 Demand Analysis of Carbon Dioxide Removal Market (by Technology Type), Value and Volume Data
3.3 Product Benchmarking: Growth Rate – Market Share Matrix
3.4 Patent Analysis
3.4.1 Patent Analysis (by Region)
3.5 Global Pricing
4 Region
5 Markets – Competitive Benchmarking & Company Profiles
6 Research Methodology
Companies Mentioned
- Arca
- Blue Planet Systems
- Bussme Energy AB
- Carbfix hf.
- Carbicrete
- Carbofex Ltd.
- Carbon Engineering Ltd.
- CarbonCure Technologies Inc.
- CarbonFree
- Cella Mineral Storage Inc.
- Charm Industrial
- Climeworks
- Ebb Carbon
- Global Thermostat
- HEIMDAL
- Neustark Ag
- Novocarbo GmbH
- Oregon Biochar Solutions
- Pacific Biochar Benefit Corporation
- Wakefield BioChar
For more information about this report visit https://www.researchandmarkets.com/r/w9y038
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