DUBLIN, Jan. 18, 2024 /PRNewswire/ — The “Carbon Dioxide Removals (CDR) Market” report has been added to ResearchAndMarkets.com’s offering.
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.
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.
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, Orsted 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.
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.
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
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
- Market Outlook
- Market Summary
Chapter 3 Market Overview
- Climate Regulations and Policies
- The Paris Agreement
- The European Green Deal
- Kyoto Protocol
- Carbon Pricing
- Market Dynamics
- Market Drivers
- Market Challenges
- Market Trends
- SWOT Analysis
- Porter’s Five Forces Analysis
- Value Chain Analysis
Chapter 4 Market Breakdown by Technology Type
- Biochar
- Enhanced/Carbon Mineralization
- Direct Air Capture (DAC)
- Bioenergy With Carbon Capture and Storage (BECCS)
- Ocean Alkalinization
- Others
Chapter 5 Market Breakdown by Carbon Credit Buyers
- Finance Sector
- Technology Sector
- Others
Chapter 6 Market Breakdown by Region
- North America
- Europe, Middle East & Africa (EMEA)
- Asia-Pacific (APAC)
- South America
Chapter 7 Company Profiles
- Arca (Formerly Carbin Minerals)
- Bussme Energy Ab
- Carbofex
- Carbon Engineering Ltd.
- Cella Mineral Storage
- Climeworks Ag
- Global Thermostat
- Wakefield Biochar
For more information about this report visit https://www.researchandmarkets.com/r/v035pk
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