The Global Carbon Dioxide Removal Market size is valued at around USD 1.2 billion in 2024 and is estimated to grow at a CAGR of around 18.26% during the forecast period, i.e., 2023-28.                                   

Global Carbon Dioxide Removal Market Dynamics:

Growing Corporate Sustainability Worldwide - Environmental concerns such as climate change, biodiversity loss, etc., owing to increasing greenhouse gas emissions from various industries such as automotive, power generation, and transportation, have been necessitating the adoption of sustainable solutions. Thus, global governments have started framing regulatory provisions to address these environmental challenges leading to augmented awareness about the importance of carbon mitigation among corporate players. Carbon-intensive companies such as electricity & heat, transportation, oil & gas, and others have started setting up ambitious goals, including targets for carbon neutrality or net-zero emissions. The role of carbon removal technologies to make a positive impact on the environment & meet carbon neutrality targets has been raising the popularity of such methods. For instance:

·       In 2023, Apple Inc., announced its additional financial commitment of USD200 million to its carbon removal fund formed in 2021 to invest in projects that remove carbon from the atmosphere to meet its goal of removing about 1 million metric tons of carbon dioxide per year.

Further, government support to companies in the form of subsidies, tax rebates, and other favorable policies to adopt sustainable practices combined with the role of carbon removal technologies in building long-term resilience would continue to create the demand for carbon dioxide removal solutions in the upcoming years.

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Market Dimensions & Projections

·        Pricing Evaluation

·        Recent Strategic Moves by Companies

·        Primary Stakeholders

·        Import/Export Trend Analysis

·        Competitive Landscape Assessment

·        Emerging Opportunities

·        Market Trends and Indicators

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Global Carbon Dioxide Removal Market Segmentation:

The market report categorizes the market based on different segments and geographical analysis.

Study Timeline:

-Base Year: 2022

-Historical Period: 2018 to 2021

-Forecast Period: 2023-28

• By Technology
• Direct Air Capture (DAC)- Market Size & Forecast 2018-2028, USD Million
• Biochar- Market Size & Forecast 2018-2028, USD Million
• Enhanced Mineralization- Market Size & Forecast 2018-2028, USD Million
• Ocean Alkalization- Market Size & Forecast 2018-2028, USD Million
• Others (Solid Sorbent, etc.)- Market Size & Forecast 2018-2028, USD Million
• By Application
• Industrial- Market Size & Forecast 2018-2028, USD Million
• Energy- Market Size & Forecast 2018-2028, USD Million
• Power Generation- Market Size & Forecast 2018-2028, USD Million
• Oil & Gas- Market Size & Forecast 2018-2028, USD Million
• Manufacturing- Market Size & Forecast 2018-2028, USD Million
• Heavy Industries (Steel, Cement, etc.)- Market Size & Forecast 2018-2028, USD Million
• Chemicals- Market Size & Forecast 2018-2028, USD Million
• Others (Food Processing, Pulp & Paper, etc.)- Market Size & Forecast 2018-2028, USD Million
• Others (Waste Management, Mining, etc.)- Market Size & Forecast 2018-2028, USD Million
• Transportation- Market Size & Forecast 2018-2028, USD Million
• Aviation- Market Size & Forecast 2018-2028, USD Million
• Shipping- Market Size & Forecast 2018-2028, USD Million
• Buildings & Infrastructure- Market Size & Forecast 2018-2028, USD Million
• By Region
• North America
• Europe
• The Middle East & Africa
• Asia-Pacific

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including -   Climeworks AG, Thermostat, Carbon Engineering Ltd., Mitsubishi Heavy Industries, Cella Mineral Storage, Arca Climate, Carbon Clean Solutions, Equinor, Carbofex Ltd., Carbon Cure Technologies Inc., Blue Planet System, Bessume Energy AB, and others

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