(EMAILWIRE.COM, July 13, 2024 ) As per Maximize Market research, the Direct Air Carbon Capture Technology Market was valued at USD 3.85 Bn in 2023 and is expected to reach USD 7.53 Bn by 2030, at a CAGR of 10.05 percent during the forecast period.
According to Maximize Market Research North America leads adoption with incentives, while Europe sets CO2 storage targets, and Asia-Pacific countries like Japan outline DAC roadmaps for significant CO2 reductions by 2030.
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Direct Air Capture (DAC) technologies extract CO2 directly from the atmosphere rather than from emission sources like factories or power plants.
In 2023, 27 DAC plants have been commissioned in Europe, North America, Japan, and the Middle East. The European Commission has set a goal to store up to 50 Mn. tons of CO2 per year by 2030, incorporating contributions from DAC. Six DAC projects are presently under construction, with the two largest predicted to begin operations in 2024. If all these planned projects proceed and operate at full capacity, DAC deployment is expected to reach approximately 4.7 Mn. tons of CO2 by 2030, which is expected to boost the Direct Air Carbon Capture Technology Market growth.
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Direct Air Carbon Capture Technology Market Segmentation
by Operating Temperature
Low-Temperature DAC
High-Temperature DAC
by End User Industry
Energy Industry
Industrial Sector
Transportation
Others
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Direct Air Carbon Capture Technology Market Key Players:
Carbon Clean Solutions
Clime works
Carbon Engineering (Canada)
Global Thermostat (United States)
Carbon Clean Solutions (United Kingdom)
Carbon Clean Solutions (Netherlands)
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
Carbon Capture Utilization and Storage Market was valued at USD 2.76 Billion in 2023, and is expected to reach USD 7.39 Billion by 2030, exhibiting a CAGR of 15.1% during the forecast period (2024-2030).
Carbon Black Market size was valued at US$ 20.25 Bn. in 2022 and the total Carbon Black Market revenue is expected to grow at 5 % from 2022 to 2029, reaching nearly US$ 28.5 Bn.
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