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Direct Air Carbon Capture Technology: Introduction

  • Direct air carbon capture is a technology that captures CO2 from atmospheric air, and provides it in purified form for use or storage. This technique uses large fans that move ambient air through a filter, using a chemical adsorbent to produce a pure CO2 stream that could be stored. Direct air capture technology has significant effect on global CO2 concentrations.
  • Demand for energy has been increasing rapidly. Large amount of fossil fuels is consumed in various industrial processes such as those in cement, steel, and power generation industries. Combustion of fossil fuels at such a large scale results in the emission of carbon dioxide and other greenhouse gases into the atmosphere.
  • Increase in amount of these gases in the atmosphere has resulted in irreversible phenomenon such as climate change and depletion of ozone. According to the Paris Climate Change Agreement, removal of existing CO2 from the atmosphere is necessary. Aggressive emission reductions are imperative, and large-scale carbon removal is also required. This is driving the demand for direct air carbon capture technology.

Key Drivers and Restraints of Global Direct Air Carbon Capture Technology Market

  • The European Space Agency launched a technology in the early 1990s for expanding space missions by filtering out the exhaled carbon dioxide out of the air in the space shuttles and stations. Over the past couple of decades, this technology has undergone massive development, and the technology today is known as Direct Air Capture (DAC). Researchers and clean energy companies are increasingly adopting this technology to filter carbon dioxide and other greenhouse emissions out of the atmospheric air. This has led to extensive research and development activities in the sector, thereby driving the direct air capture market.
  • Many fossil fuels are typically used in various industries. This releases large amount of carbon dioxide and other greenhouse gases in the atmosphere, resulting in climate change and ozone layer depletion. This drives the need for an aggressive reduction in greenhouse gas emissions and a large-scale CO2 removal from the atmospheric air, thereby propelling the demand for state-of-the-art technologies in the field of direct air carbon capture.
  • Using direct air carbon capture for oil recovery has the potential to cancel out the climate mitigation benefits. High expenses associated with the direct air carbon capture technology may play a pivotal role in restraining the market.

Direct Air Carbon Capture Technology: Number of Collectors Segment

  • In terms of number of collectors, the global direct air carbon capture technology market can be classified into less than 10 collectors and more than 10 collectors
  • The less than 10 collectors segment dominates the market, while the more than 10 collectors segment is expected to expand at a higher CAGR during the forecast period
  • More than 10 collectors are used for collecting CO2, depending on the configuration of the core and ease of access around the construction site

COVID-19 Impact on Direct Air Carbon Capture Technology Market

  • Since the beginning of 2020, global economy has been experiencing a downturn due to the outbreak of COVID-19. The outbreak of Covid-19 is anticipated to have a significant impact on production and distribution of direct air carbon capture technology.
  • Governments of several countries have imposed strict lockdowns to curb the spread of the COVID-19 pandemic. Many manufacturing companies are either shut down or running low on production capacity.
  • Decrease in industrial activities due to the pandemic has been adversely impacting the global direct air carbon capture technology market

Europe holds Major Share of Direct Air Carbon Capture Technology Market

  • In terms of region, the global direct air carbon capture technology market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Europe dominated the market in 2020. This trend is expected to continue during the forecast period. Implementation of stringent regulations regarding carbon emission is driving the market in the region. Currently, three direct air carbon capture plants are operational in Europe.
  • Switzerland-based Climeworks is the first company to build the direct air carbon capture plant. The company aims to capture 1% of global CO2 emissions by 2025. In 2017, the company opened the first direct air capture plant in Zurich, Switzerland. The plant is capable of capturing 900 metric tons of carbon annually. The carbon dioxide captured was fed to a greenhouse, which boosted the growth of the plants inside it. In the same year, the company opened the second plant in collaboration with Reykjavik Energy in Iceland to capture CO2 from ambient air and store it permanently underground as minerals in basalt rock formations.

Key Manufacturers Operating in Global Direct Air Carbon Capture Technology Market

The global direct air carbon capture technology market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global direct air carbon capture technology market include:

  • Carbon Engineering, Ltd.
  • Skytree
  • Climeworks AG
  • Soletair Power
  • Global Thermostat
  • National Energy Technology Laboratory
  • Synhelion
  • Sunfire GmbH
  • Oak Ridge National Laboratory

Global Direct Air Carbon Capture Technology Market: Research Scope

Global Direct Air Carbon Capture Technology Market, by Number of Collectors

  • Less than 10 collectors
  • More than 10 collectors

Global Direct Air Carbon Capture Technology Market, by Application

  • Enhance Oil Recovery (EOR)
  • Industrial
  • Agriculture
  • Others

Global Direct Air Carbon Capture Technology Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Direct Air Carbon Capture Technology Market

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