The Global Market for Carbon Dioxide Removal (CDR) 2024-2045

April 2024 | 275 pages | ID: G31C42168CD7EN
Future Markets, Inc.

Abstracts

Carbon removal, or carbon dioxide (CO?) removal (CDR), encompasses both natural solutions such as sequestering and storing carbon in trees and soil, and technology that extracts CO? directly from the atmosphere. The Global Market for Carbon Dioxide Removal (CDR) 2024-2045 report provides a comprehensive analysis of the rapidly evolving CDR industry. The report offers in-depth insights into the current state of the CDR market, key technologies, market drivers, challenges, and future growth prospects.

The report provides an overview of the main sources of carbon dioxide emissions and the role of CDR in meeting climate targets. It explores the history and evolution of carbon markets and examines the mitigation costs of various CDR technologies. The market map provides a clear picture of the CDR landscape, highlighting the key players, technologies, and market segments. A significant focus of the report is on the growing importance of CDR in voluntary carbon markets and the increasing investments in CDR technologies. The market size analysis offers valuable projections for the CDR industry, segmented by technology and region, from 2023 to 2043.

The report covers main CDR methods, including conventional land-based approaches like afforestation, reforestation, and soil carbon sequestration, as well as novel technologies such as direct air capture and storage (DACCS), bioenergy with carbon capture and storage (BECCS), enhanced weathering, and ocean-based CDR. Each technology is thoroughly examined, covering its principles, applications, key players, projects, and cost analysis.

The carbon credits market is analyzed in detail, including the types of carbon credits, corporate commitments, government support and regulations, advancements in project verification and monitoring, and the potential for blockchain technology in carbon credit trading. The report also explores the challenges and risks associated with the carbon credit market.

The company profiles section features over 130 leading companies in the CDR industry, providing valuable insights into their technologies, projects, and market strategies. Companies covered include Avnos, Banyu Carbon, Blusink, Brineworks, CarbonCure Technologies, Charm Industrial, Clairity Technology, Climeworks, EcoLocked GmbH, Ebb Carbon, Eion Carbon, Equatic, Graphyte, Greenlyte, Heirloom, Hyvegeo, Misson Zero, Noya, Octavia Carbon , Parallel Carbon, Pyro CSS GmbH, Qaptis, Ulysses Ecosystem Engineering and UNDO.

The report also includes a comprehensive SWOT analysis for each CDR technology, highlighting the strengths, weaknesses, opportunities, and threats. The future outlook for the CDR market is discussed, focusing on emerging trends, opportunities, and strategic recommendations for stakeholders. The report emphasizes the importance of supportive policies, research and development, and collaboration among industry players to accelerate the deployment of CDR technologies.

The Global Market for Carbon Dioxide Removal (CDR) 2024-2045 is an indispensable resource for businesses, investors, policymakers, and researchers seeking to understand the complex dynamics of the CDR industry. With its comprehensive analysis, detailed market insights, and strategic recommendations, this report enables stakeholders to make informed decisions and capitalize on the growing opportunities in the CDR market as the world transitions towards a low-carbon future.

Contents

1 ABBREVIATIONS

2 RESEARCH METHODOLOGY

2.1 Definition of Carbon Dioxide Removal

3 EXECUTIVE SUMMARY

3.1 Main sources of carbon dioxide emissions
3.2 CO2 as a commodity
3.3 History and evolution of carbon markets
3.4 Meeting climate targets
3.5 Mitigation costs of CDR technologies
3.6 Market map
3.7 CDR in voluntary carbon markets
3.8 CDR investments
3.9 Market size

4 INTRODUCTION

4.1 Conventional CDR on land
  4.1.1 Wetland and peatland restoration
  4.1.2 Cropland, grassland, and agroforestry
4.2 Main CDR methods
4.3 Novel CDR methods
4.4 Market drivers
4.5 Value chain

5 CARBON CREDITS

5.1 Description
5.2 Types of Carbon Credits
  5.2.1 Voluntary Carbon Credits
  5.2.2 Compliance Carbon Credits
5.3 Corporate commitments
5.4 Increasing government support and regulations
5.5 Advancements in carbon offset project verification and monitoring
5.6 Potential for blockchain technology in carbon credit trading
5.7 Prices
5.8 Buying and Selling Carbon Credits
  5.8.1 Carbon credit exchanges and trading platforms
  5.8.2 Over-the-counter (OTC) transactions
  5.8.3 Pricing mechanisms and factors affecting carbon credit prices
5.9 Certification
5.10 Challenges and risks
5.11 Market size

6 BIOMASS WITH CARBON REMOVAL AND STORAGE (BICRS)

6.1 Technology overview
6.2 Feedstocks
6.3 Biomass conversion
6.4 CO? capture technologies
6.5 Bioenergy with carbon capture and storage (BECCS)
6.6 BECCS facilities
6.7 Cost analysis
6.8 BECCS carbon credits
6.9 Challenges

7 DIRECT AIR CAPTURE AND STORAGE (DACCS)

7.1 Description
7.2 Deployment
7.3 Point source carbon capture versus Direct Air Capture
7.4 Technologies
  7.4.1 Solid sorbents
  7.4.2 Liquid sorbents
  7.4.3 Liquid solvents
  7.4.4 Airflow equipment integration
  7.4.5 Passive Direct Air Capture (PDAC)
  7.4.6 Direct conversion
  7.4.7 Co-product generation
  7.4.8 Low Temperature DAC
  7.4.9 Regeneration methods
  7.4.10 Commercialization and plants
  7.4.11 Metal-organic frameworks (MOFs) in DAC
7.5 DAC plants and projects-current and planned
7.6 Markets for DAC
7.7 Cost analysis
7.8 Challenges
7.9 SWOT analysis
7.10 Players and production

8 ENHANCED WEATHERING

8.1 Overview
  8.1.1 Role of enhanced weathering in carbon dioxide removal
  8.1.2 CO? mineralization
8.2 Enhanced Weathering Processes and Materials
8.3 Enhanced Weathering Applications
8.4 Trends and Opportunities
8.5 Challenges and Risks
8.6 Cost analysis
8.7 SWOT analysis

9 AFFORESTATION/REFORESTATION

9.1 Overview
9.2 Carbon dioxide removal methods
9.3 Projects
9.4 Trends and Opportunities
9.5 Challenges and Risks
9.6 SWOT analysis

10 SOIL CARBON SEQUESTRATION (SCS)

10.1 Overview
10.2 Practices
10.3 Measuring and Verifying
10.4 Trends and Opportunities
10.5 Carbon credits
10.6 Challenges and Risks
10.7 SWOT analysis

11 BIOCHAR

11.1 What is biochar?
11.2 Carbon sequestration
11.3 Properties of biochar
11.4 Feedstocks
11.5 Production processes
  11.5.1 Sustainable production
  11.5.2 Pyrolysis
    11.5.2.1 Slow pyrolysis
    11.5.2.2 Fast pyrolysis
  11.5.3 Gasification
  11.5.4 Hydrothermal carbonization (HTC)
  11.5.5 Torrefaction
  11.5.6 Equipment manufacturers
11.6 Biochar pricing
11.7 Biochar carbon credits
  11.7.1 Overview
  11.7.2 Removal and reduction credits
  11.7.3 The advantage of biochar
  11.7.4 Prices
  11.7.5 Buyers of biochar credits
  11.7.6 Competitive materials and technologies
11.8 Bio-oil based CDR
11.9 SWOT analysis

12 OCEAN-BASED CARBON DIOXIDE REMOVAL

12.1 Overview
12.2 CO? capture from seawater
12.3 Ocean fertilisation
12.4 Ocean alkalinisation
12.5 Trends and Opportunities
12.6 Ocean-based carbon credits
12.7 Cost analysis
12.8 Challenges and Risks
12.9 SWOT analysis

13 COMPANY PROFILES 170 (131 COMPANY PROFILES)

14 REFERENCES

List Of Tables

LIST OF TABLES

Table 1. Long-term marginal abatement costs of selected removal methods.
Table 2. CDR investments and VC funding by company.
Table 3. Main corporate buyers of carbon removeal in 2023 (t/Co2e)
Table 4. Main CDR methods.
Table 5. Market drivers for carbon dioxide removal (CDR).
Table 6. CDR versus CCUS.
Table 7. CDR Value Chain.
Table 8. Carbon credit prices.
Table 9. Carbon credit prices by company and technology.
Table 10. CO? capture technologies for BECCS.
Table 11. Existing and planned capacity for sequestration of biogenic carbon.
Table 12. Existing facilities with capture and/or geologic sequestration of biogenic CO2.
Table 13. Advantages and disadvantages of DAC.
Table 14. Emerging solid sorbent materials for DAC.
Table 15. Companies developing airflow equipment integration with DAC.
Table 16. Companies developing Passive Direct Air Capture (PDAC) technologies.
Table 17. Companies developing regeneration methods for DAC technologies.
Table 18. DAC companies and technologies.
Table 19. DAC technology developers and production.
Table 20. DAC projects in development.
Table 21. Markets for DAC.
Table 22. Costs summary for DAC.
Table 23. Cost estimates of DAC.
Table 24. Challenges for DAC technology.
Table 25. DAC companies and technologies.
Table 26. Nature-based CDR approaches.
Table 27. Summary of key properties of biochar.
Table 28. Biochar physicochemical and morphological properties
Table 29. Biochar feedstocks-source, carbon content, and characteristics.
Table 30. Biochar production technologies, description, advantages and disadvantages.
Table 31. Comparison of slow and fast pyrolysis for biomass.
Table 32. Comparison of thermochemical processes for biochar production.
Table 33. Biochar production equipment manufacturers.
Table 34. Competitive materials and technologies that can also earn carbon credits.
Table 35. Ocean-based CDR methods.

List Of Figures

LIST OF FIGURES

Figure 1. Carbon emissions by sector.
Figure 2. Overview of CCUS market
Figure 3. Pathways for CO2 use.
Figure 4. Carbon Dioxide Removal Market Map.
Figure 5. Cost estimates for long-distance CO2 transport.
Figure 6. Covering removals in international carbon market.
Figure 7. Carbon dioxide removal capacity by technology (million metric tons of CO?/year), 2020-2045.
Figure 8, Carbon dioxide removal revenues by technology (billion US$), 2020-2045.
Figure 9. Global purchases of CO2 removal (tonnes) 2019-2024.
Figure 10. Bioenergy with carbon capture and storage (BECCS) process.
Figure 11. CO2 captured from air using liquid and solid sorbent DAC plants, storage, and reuse.
Figure 12. Global CO2 capture from biomass and DAC in the Net Zero Scenario.
Figure 13. DAC technologies.
Figure 14. Schematic of Climeworks DAC system.
Figure 15. Climeworks’ first commercial direct air capture (DAC) plant, based in Hinwil, Switzerland.
Figure 16. Flow diagram for solid sorbent DAC.
Figure 17. Direct air capture based on high temperature liquid sorbent by Carbon Engineering.
Figure 18. Global capacity of direct air capture facilities.
Figure 19. Global map of DAC and CCS plants.
Figure 20. Schematic of costs of DAC technologies.
Figure 21. DAC cost breakdown and comparison.
Figure 22. Operating costs of generic liquid and solid-based DAC systems.
Figure 23. SWOT analysis: DACCS.
Figure 24. SWOT analysis: enhanced weathering.
Figure 25. SWOT analysis: afforestation/reforestation.
Figure 26. SWOT analysis: SCS.
Figure 27. Schematic of biochar production.
Figure 28. Biochars from different sources, and by pyrolyzation at different temperatures.
Figure 29. Compressed biochar.
Figure 30. Biochar production diagram.
Figure 31. Pyrolysis process and by-products in agriculture.
Figure 32. SWOT analysis: Biochar for CDR.
Figure 33. SWOT analysis: ocean-based CDR.
Figure 34. Schematic of carbon capture solar project.
Figure 35. Capchar prototype pyrolysis kiln.
Figure 36. Carbon Blade system.
Figure 37. CarbonCure Technology.
Figure 38. Direct Air Capture Process.
Figure 39. Orca facility.
Figure 40. Holy Grail DAC system.
Figure 41. Infinitree swing method.
Figure 42. Mosaic Materials MOFs.
Figure 43. Neustark modular plant.
Figure 44. OCOchem’s Carbon Flux Electrolyzer.
Figure 45. RepAir technology.
Figure 46. Soletair Power unit.
Figure 47. CALF-20 has been integrated into a rotating CO2 capture machine (left), which operates inside a CO2 plant module (right).
Figure 48. Takavator.