Carbon Dioxide Removal Market

Carbon dioxide removal (CDR) technology is a method of capturing and removing carbon dioxide (CO2) from the atmosphere, typically through various technological and natural methods, to mitigate climate change. The most common CDR technologies include direct air capture (DAC), enhanced weathering, afforestation and reforestation, ocean-based approaches like ocean alkalinity enhancement, and bioenergy with carbon capture and storage (BECCS).

While regulatory frameworks for CDR are emerging, they vary by region and are still evolving. These frameworks may include carbon offset standards, carbon pricing mechanisms, and emissions reduction targets.

Toward the end of 2030, the market has been projected to reach the revenue of US$1.5 billion, displaying a strong CAGR of around 20%.

The global market for CDR, though presently in its early stages, is expected to gain largely from growing awareness among governments, corporations, and individuals regarding the possibility and advantages of removing excess CO2 from the atmosphere. The future of the CDR market looks promising, driven by increasing climate concerns and the need to achieve net-zero emissions. Innovations in CDR technologies, favourable policies, and growing public awareness are likely to shape the market's growth and direction.

Carbofex Ltd., Climeworks, Global Thermostat, Carbon Engineering Ltd., Oregon Biochar Solutions, Novocarbo GmbH, BioChar, and CarbonCure Technologies Inc. are some of the key industry players covered in the report.