Carbon Dioxide Removal Market Size Analysis and Top Companies
The global carbon dioxide removal market size is estimated to hit around USD 2,548.29 billion by 2033, increasing from USD 638.73 billion in 2023 with a CAGR of 14.84% from 2024 to 2033.The major players operating in the carbon dioxide removal market are 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., HEIMDAL, Blue Planet Systems, Pacific Biochar Benefit, Charm Industrial, and Others.
Market Report Coverage
| Market Size in 2023 |
USD 638.73 Million |
| Market Growth Rate from 2024 to 2033 |
CAGR of 14.84% |
| Largest Market |
North America |
| Base Year |
2023 |
| Forecast Period |
2024 to 2033 |
| Segments Covered |
Product, Application, and Regions |
| Regions Covered |
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Carbon Dioxide Removal Key Players
- 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.
- HEIMDAL
- Blue Planet Systems
- Pacific Biochar Benefit
- Charm Industrial
Recent Developments
- In May 2024, Climeworks inaugurated the world’s largest operational direct air capture (DAC) plant in Iceland. This opening aims to release excessive amounts of CO2 from the atmosphere.
- In May 2024, CarbiCrete announced a partnership with 3Degrees. This partnership is done to remove carbon dioxide from the atmosphere to attain a sustainable future and emission-free environment.
- In April 2024, Drax Group announced a partnership with C-Zero. This partnership aims to lower CO2 emissions in the environment.
- In February 2024, Equatic announced plans to construct the world’s largest ocean-based carbon removal plant in Singapore. Through this announcement, the company aims to remove 109,500 tonnes of CO2 and generate 3,600 tonnes of carbon-negative hydrogen every year starting in 2026.
- In November 2023, Arca Climate Technologies launched a pilot project for capturing CO2 from mine waste in Australia.
- In April 2023, Global Thermostat announced the inauguration of the largest Direct Air Capture machines in Colorado, U.S.
- In August 2022, Carbon Engineering announced a partnership with Occidental Petroleum Corp. This partnership was done to initiate the construction of a carbon removal plant in the Permian Basin, U.S., that is capable of removing 500,000 tons of carbon dioxide annually from the atmosphere.
- In January 2022, Veolia joined hands with Carbon Clean. This joint venture is done for reducing industrial carbon dioxide emissions in India.
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