Global Carbon Dioxide Removal Market Size is valued at USD 655.9 Million in 2024 and is predicted to reach USD 3254.7 Million by the year 2034 at a 17.5% CAGR during the forecast period for 2025-2034.
Key Industry Insights & Findings from the Report:
The process of capturing carbon dioxide from fuel combustion or industrial processes, transporting it by ship or pipeline, and either using it as a resource to produce valuable goods or services or permanently storing it underground in geological formations is known as carbon capture, utilization, and storage (CCUS).
The main factors driving the global carbon dioxide removal market are the growing emphasis on lowering CO2 emissions, support for government programs, and rising demand for CO2-EOR techniques. Carbon dioxide emissions have increased due to quick industrialization around the world. The governments of numerous industrialized and emerging nations, including the United States, the Netherlands, the United Kingdom, China, and India, are constructing multiple CO2 capture and storage facilities to minimize their carbon footprints.
However, throughout the anticipated period, the expansion of the carbon dioxide market is anticipated to be constrained by the high cost of carbon capture and storage as well as falling crude oil prices.
The Carbon Dioxide Removal Market is segmented based on technology type and application. Based on technology type, the market is segmented as biochar, direct air capture (DAC), enhanced/carbon mineralization, ocean alkalinization, and others. By application, the market is segmented into the finance sector, the technology sector, and others.
The direct air capture category is expected to hold a major share of the global carbon dioxide removal market in 2024. Many dollars are being invested in installing direct air capture widely in major economies worldwide. During the forecast period, these countries are anticipated to build more coal-fired power plants, ultimately accelerating direct air capture (DAC) technology.
The technology segment is projected to grow rapidly in the global carbon dioxide removal market owing to the growing projects for carbon dioxide removal. Over three decades, enhanced oil recovery (EOR) projects in Texas (U.S.) have used carbon dioxide. EOR accounts for over 20.0% of total oil output, and some fields achieve recoveries of around 70.0%. Most OPEC countries supporting CCUS technology use the Kyoto Clean Development Mechanism.
The North America Carbon Dioxide Removal Market is expected to register the highest market share in revenue in the near future. This is due to the large investments in various R&D projects and high-capacity carbon capture and sequestration plants. The regional expansion has also benefited from funding programs launched by local governments. For instance, in June 2021, to develop new methods for effectively absorbing CO2 from the atmosphere, the U.S. Department of Energy (DoE) announced a USD 12 million federal support for six research and development initiatives pushing direct air capture (DAC) technology.
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Report Attribute |
Specifications |
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Market size value in 2024 |
USD 655.9 Million |
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Revenue forecast in 2034 |
USD 3254.7 Million |
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Growth rate CAGR |
CAGR of 17.5% from 2025 to 2034 |
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Quantitative units |
Representation of revenue in US$ Mn, Volume (Tons), and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Technology Type And Application |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Climeworks, Global Thermostat, Carbon Engineering Ltd., Arca, Cella Mineral Storage Inc., Bussme Energy AB, Carbofex Ltd., Oregon Biochar Solutions, Wakefield BioChar, Novocarbo GmbH, Carbicrete, Neustark Ag, Ebb Carbon, CarbonCure Technologies Inc., CarbonFree, Carbfix hf., Blue Planet Systems, Pacific Biochar Benefit Corporation, HEIMDAL, and Charm Industrial |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Carbon Dioxide Removal Market Snapshot
Chapter 4. Global Carbon Dioxide Removal Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Technology Type Estimates & Trend Analysis
5.1. by Technology Type & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn) & Volume (Tons) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Technology Type:
5.2.1. Biochar
5.2.2. Direct Air Capture (DAC)
5.2.3. Enhanced/Carbon Mineralization
5.2.4. Ocean Alkalinization
5.2.5. Others
Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn) & Volume (Tons) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Application:
6.2.1. Finance Sector
6.2.2. Technology Sector
6.2.3. Others
Chapter 7. Carbon Dioxide Removal Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Technology Type, 2021-2034
7.1.2. North America Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Application, 2021-2034
7.1.3. North America Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by country, 2021-2034
7.2. Europe
7.2.1. Europe Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Technology Type, 2021-2034
7.2.2. Europe Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Application, 2021-2034
7.2.3. Europe Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by country, 2021-2034
7.3. Asia Pacific
7.3.1. Asia Pacific Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Technology Type, 2021-2034
7.3.2. Asia Pacific Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Application, 2021-2034
7.3.3. Asia Pacific Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by country, 2021-2034
7.4. Latin America
7.4.1. Latin America Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Technology Type, 2021-2034
7.4.2. Latin America Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Application, 2021-2034
7.4.3. Latin America Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by country, 2021-2034
7.5. Middle East & Africa
7.5.1. Middle East & Africa Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Technology Type, 2021-2034
7.5.2. Middle East & Africa Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Application, 2021-2034
7.5.3. Middle East & Africa Carbon Dioxide Removal Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by country, 2021-2034
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Climeworks
8.2.2. Global Thermostat
8.2.3. Carbon Engineering Ltd.
8.2.4. Arca
8.2.5. Cella Mineral Storage Inc.
8.2.6. Bussme Energy AB
8.2.7. Carbofex Ltd.
8.2.8. Oregon Biochar Solutions
8.2.9. Wakefield BioChar
8.2.10. Novocarbo GmbH
8.2.11. Carbicrete
8.2.12. Neustark Ag
8.2.13. Ebb Carbon
8.2.14. CarbonCure Technologies Inc.
8.2.15. CarbonFree
8.2.16. Carbfix hf.
8.2.17. Blue Planet Systems
8.2.18. Pacific Biochar Benefit Corporation
8.2.19. HEIMDAL
8.2.20. Charm Industrial
8.2.21. Other Prominent Players
Carbon Dioxide Removal Market By Technology Type-
Carbon Dioxide Removal Market By Application-
Carbon Dioxide Removal Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
