"Changing Climate Action: The Carbon Dioxide Removals
(CDR) Market Is Expanding and Innovating Like Never
Before"
BOSTON, June 18,
2024 /PRNewswire/ -- According to BCC Research,
the Carbon Dioxide Removal (CDR) market is expected to
grow at a compound annual growth rate (CAGR) of 31%, reaching a
demand of $ 8.1 billion by 2028. The
green energy transition is rapidly advancing to achieve global
carbon neutrality, highlighting the critical role of carbon dioxide
reduction and removal technologies. This market growth is driven by
the need to meet global and national net-zero targets. While CDR
cannot replace immediate deep emissions reductions, it is essential
in all scenarios that aim to limit global warming to 2˚C or lower
by 2100.
The CDR industry is in its early stages and requires extensive
R&D to prove its viability. Current carbon credits and removal
technologies lack scalability due to implementation variations.
Policymakers can use CDR as a delaying tactic to achieve climate
goals. Because of the potential of CDR, many companies are
investing heavily in these technologies rather than changing their
operations to reduce emissions.
Here are some key players driving the CDR market:
Climeworks: A pioneer in direct air capture and storage
(DACS), Climeworks develops innovative technologies to remove CO₂
from ambient air. Their scalable solutions contribute significantly
to net-zero emissions efforts.
Global Thermostat: Known for its patented carbon dioxide
removal technology, Global Thermostat captures CO₂ directly from
the air and converts it into useful products. Their approach
combines environmental impact with economic viability.
Carbon Engineering Ltd.: This company specializes in
bioenergy with carbon capture and storage (BECCS). They focus on
sustainable bioenergy production while simultaneously removing CO₂
from the atmosphere.
Wakefield Biochar: Wakefield Biochar produces biochar—a
carbon-rich material derived from biomass. Biochar sequesters
carbon and enhances soil health, making it a valuable player in the
CDR market.
Cella Mineral Storage: Cella Mineral Storage focuses on
the geological storage of CO₂. By safely storing captured carbon
underground, they contribute to long-term climate solutions.
ARCA (formerly Carbin Minerals): ARCA leverages natural
climate solutions, such as reforestation and mangrove restoration,
to sequester carbon. Their efforts contribute to a more sustainable
planet.
Carbofex: Carbofex is a leader in sustainable energy
solutions, they specialize in developing biochar production
equipment and converting waste into biochar. This process removes
CO2 from the atmosphere while generating clean energy. Carbofex's
biochar is utilized in various applications, including horticulture
and environmental remediation.
Bussme Energy AB: Bussme Energy AB is a pioneer in
renewable energy and carbon dioxide removal, employing patented
pyrolysis technology to produce biochar. This method permanently
removes CO2 from the natural carbon cycle while simultaneously
generating clean energy.
These companies play a key role in achieving zero emissions and
fighting climate change. As the demand for CDR solutions continues
to grow, their innovations will shape a more sustainable
future.
Click here to download a sample report on the
"Carbon Dioxide Removals (CDR) Market."
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touch with info@bccresearch.com.
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SOURCE BCC Research LLC