Direct Air Capture Market

Leading Players in Direct Air Capture Industry - Climeworks (Switzerland), Carbon Engineering ULC. (Canada), Global Thermostat (US)

The global direct air capture market is projected to reach USD 1,727 million by 2030 from an estimated USD 62 million in 2023, at a CAGR of 60.9% during the forecast period. The growing emphasis on net-zero emission, stringent regulations, and favourable government policies are driving the growth of the direct air capture market.

Due to their strong supply network, a few global and regional players hold a strong foothold in the direct air capture market. Climeworks (Switzerland), Carbon Engineering ULC. (Canada), Global Thermostat (US), Skytree (Netherlands) and Heirloom Carbon Technologies (US) are the market leaders in the direct air capture market. These companies have adopted strategies such as partnerships, collaborations, mergers, investments and expansions to increase their market share.

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Climeworks, spun off of the research university ETH Zurich, is a leading company in the direct air capture market. The company, along with its partner, Carbfix offers direct air capture and storage technology. Climework’s technology is Solid-DAC technology, which uses renewable energy, energy-from-waste, or other waste heat as energy sources. Climeworks’ captured CO2 have applications in food and beverages, greenhouses, power-to-X and more.

Climeworks has a number of direct air capture and storage plants, including its Orca plant. The company claims that its Orca plant is the world’s largest direct air capture and storage plant with an annual capture capacity of 500 tons each.Climeworks has operationalized over 15 facilities since 2009.

Carbon Engineering ULC. is a leading company specializing in Direct Air Capture (DAC) technology. The Company’s technology is a Liquid-DAC (L-DAC) type of technology, which involves key unit operations—air contactor, pellet reactor, slaker, and calciner—that collaboratively capture, refine, and compress atmospheric CO2.

The company is focused on facilitating two types of plants, namely DAC+S and AIR TO FUELS. In Air to Fuels type of plants, captured CO2 is converted into low-carbon synthetic fuels like gasoline and jet fuel, whereas in DAC+S type of plants, captured CO2 is permanently stored underground in geological formations.

The company provides DAC facilities in partnership with its partner 1PointFive. Carbon Engineering’s DAC facility is currently under construction in Texas, US. The facility is expected to start commercial operations from mid-2025.

Global Thermostat is a US-based carbon removal firm, which uses its patented solid-amine sorbents to capture CO2. The company has a commercial-scale DAC unit operational in Colorado. The company captures CO2 for a diverse range of applications from sequestration to synthetic fuels, building materials, industrial gases, and beyond.

The company has a geographical footprint in Europe and Asia Pacific. The company has a state-of-the art facility in Colorado which helps the company to innovate its solutions for deployment at increasingly larger scales. In 2023, the company established Global Thermostat Japan, a joint venture between Global Thermostat and ICMG Co., Ltd. to strengthen its market presence.

Related Reports:

Direct Air Capture Market by Technology (Solid-DAC (S-DAC), Liquid-DAC (L-DAC), Electrochemical-DAC (E-DAC)), Source, Application (Carbon Capture and Storage (CCS), Carbon Capture, Utilization, and Storage) Region - Global Forecast to 2030

Contact:
Mr. Aashish Mehra
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Direct Air Capture Market Size,  Share & Growth Report
Report Code
EP 8933
RI Published ON
11/2/2023
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