Global Direct Air Capture (DAC or DACCS) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Direct Air Capture (DAC or DACCS) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Direct Air Capture is a technology that directly captures carbon dioxide from the air through construction machinery systems. According to the principle, it can be divided into Physical Absorption in Liquid Media and Adsorption on Solid Media.

Market Overview:

The latest research study on the global Direct Air Capture (DAC or DACCS) market finds that the global Direct Air Capture (DAC or DACCS) market reached a value of USD 23.65 million in 2022. It’s expected that the market will achieve USD 612.77 million by 2028, exhibiting a CAGR of 72.02% during the forecast period.

Drivers

Excessive burning of coal, oil and natural gas in the modern industrial society, and the carbon dioxide gas contained in the automobile exhaust produced and emitted in large quantities enters the atmosphere and causes the greenhouse effect. The greenhouse effect will cause global warming, accelerated melting of glaciers, and rising sea levels. It will also cause rapid weather changes in local areas in a short period of time, resulting in abnormal climate and aggravation of natural disasters such as high temperature, heat waves, tropical storms, and tornadoes. In addition, it will lead to an increase in the frequency of extremely hot weather, increase the incidence of cardiovascular and respiratory diseases, and accelerate the spread and spread of epidemic diseases, thus directly threatening human health. For people's living environment, the world is constantly reducing carbon dioxide emissions.

The 2015 Paris climate agreement set a goal of limiting human-caused warming to well below 2 degrees Celsius and pursuing a goal of no more than 1.5 degrees Celsius. The UN's Intergovernmental Panel on Climate Change (IPCC) believes that achieving this goal requires the use of negative emission technologies to remove excess carbon dioxide from the atmosphere. Direct air capture is one of the few technological options available to remove CO2 from the atmosphere.

There are two main DAC technologies on the market today. Physical Absorption in Liquid Media is typically used in larger industrial-scale facilities, such as the system by Canadian company Carbon Engineering. The system uses a fan to draw carbon dioxide-containing air through a filter into the sodium hydroxide solution. After sodium hydroxide absorbs carbon dioxide from the air, the solution is piped to another reaction chamber where it is mixed with calcium hydroxide. Calcium hydroxide absorbs dissolved carbon dioxide to form small flakes of limestone. After the limestone flakes are screened off, the remaining material is sent to a calciner where it is heated until it decomposes to release pure carbon dioxide that can be captured and stored. The Adsorption on Solid Media system captures carbon dioxide at the surface of a filter covered with chemical agents, where the compound is then formed. The new compound is heated, releasing the trapped carbon dioxide and separating it from the chemical agent, which can then be recycled.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

ClimeWorks is one of the major players operating in the Direct Air Capture (DAC or DACCS) market, holding a share of 25.84% in 2022.

Climeworks AG is a Swiss company specializing in carbon dioxide air capture technology. The company filters CO₂ directly from ambient air through an adsorption-desorption process.

Founded in 2010, Global Thermostat is dedicated to commercializing its unique, multi-patented portfolio of solutions for capturing and removing carbon dioxide directly from the atmosphere to combat climate change and power a growing circular carbon economy. Its goal is to develop the lowest resource, lowest cost solution to climate threats through direct air capture.

Segmentation Overview:

Among different product types, Adsorption on Solid Media segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Geologic Storage segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Direct Air Capture (DAC or DACCS) market covered in Chapter 3:

Opus 12
Prometheus Fuels
Carbon Engineering
Global Thermostat
Carbon Collect Limited
Newlight
C2CNT
ClimeWorks

In Chapter 4 and Chapter 14.2, on the basis of types, the Direct Air Capture (DAC or DACCS) market from 2018 to 2029 is primarily split into:

Physical Absorption in Liquid Media
Adsorption on Solid Media

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Direct Air Capture (DAC or DACCS) market from 2018 to 2029 covers:

Synthetic Fuels
Chemicals
Geologic Storage
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)