The Global Direct Air Capture and Storage (DACCS) Market 2024-2035

Published: June 2024
Pages: 212
Tables: 56
Figures: 70

Direct Air Carbon Capture and Storage (DACCS) is an emerging carbon dioxide removal strategy that uses advanced, mainly proprietary technology to capture and store or utilize carbon dioxide directly from the ambient air. As DACCS technologies continue to advance and scale up, they offer substantial opportunities for businesses, investors, and policymakers. Captured CO2 can be permanently stored in deep geological formations and depleted aquifers. Novel technologies can trap CO2 in rocks, via mineralization. Captured CO2 can also be used in a range of applications. The ability to sell or convert CO2 into useful products provides a commercialization pathway for DACCS, with products including:

Fuels
Chemicals, plastics, and polymers
Construction materials
Biological yield-boosting
Food and feed production
Enhanced oil recovery (EOR)

This market report provides a comprehensive analysis of the latest trends, innovations, and growth opportunities in the DACCS industry, focusing on key aspects such as CO2 capture mechanisms, technologies, markets, and key players. The report discusses the advantages of DACCS as a CO2 removal strategy, including its scalability, flexibility in siting, and potential for integration with renewable energy sources. It also explores the current state of DACCS deployment and the factors driving its growth, such as increasing public and private sector investment, supportive policies, and the growing demand for carbon removal solutions.

CO2 Capture Mechanisms and Technologies The report delves into the various CO2 capture and separation mechanisms employed in DACCS, including sorbent-based and solvent-based systems. It also examines the different technologies used in DACCS, such as solid sorbents, liquid sorbents, and passive direct air capture (PDAC). The report provides a detailed comparison of these technologies, highlighting their advantages, limitations, and potential for future development. While the market is in its infancy, with a relatively small amount of DACCS plants in operation (mainly in Europe, USA, Canada and Japan), the potential of these technologies will play a growing role in the carbon capture market. Companies are being incentivized to develop the technology with the US government offering >$3.5 billion in grants.

Report contents include:

Analysis of the overall market for Carbon Capture, Utilization and Storage (CCUS).
Costs for DACCS, current and targeted.
Pros and cons of DACCS.
In-depth DACCS technology analysis.
Comparative analysis of DAC to other carbon capture tech.
Commercialization and plants including production capacities.
Markets for CO2 captured by DACCS. For each sector, the report identifies key market drivers, trends, and opportunities. It also provides market size estimates and forecasts from 2024 to 2045, segmented by technology and application. Markets covered include:
- Fuels
- Chemicals, plastics, and polymers
- Construction materials
- Biological yield-boosting
- Food and feed production
- Enhanced oil recovery (EOR)
Market challenges. The report analyzes the costs associated with DACCS, including capital expenditures (CAPEX) and operating expenditures (OPEX). It breaks down the cost contributions of various components in DACCS systems and provides a comparison of cost estimates for different technologies. The report also identifies the main challenges facing the DACCS industry, such as high energy requirements, the need for cost reductions, and the development of supportive policies and infrastructure.
Profiles of 66 companies involved in DACCS. Companies profiled include Airhive, AspiraDAC, Carbofex Oy, CarbonCapture Inc., Charm Industrial, Climeworks, Holocene, 44.01, Mission Zero Technologies, Noya, Occidental Petroleum Corp., and Removr. Company profiles cover technology offerings, key projects, partnerships, and competitive strengths.

1 ABBREVIATIONS 13

2 RESEARCH METHODOLOGY 14

2.1 Definition 14
2.2 Technology Readiness Level (TRL) 15
2.3 Key market barriers for CCUS 16

3 INTRODUCTION 18

3.1 Purpose of carbon dioxide removal 18
3.2 What is CCUS? 18
- 3.2.1 Carbon Capture 24
  - 3.2.1.1 Source Characterization 24
  - 3.2.1.2 Purification 25
  - 3.2.1.3 CO2 capture technologies 26
- 3.2.2 Carbon Utilization 29
  - 3.2.2.1 CO2 utilization pathways 30
- 3.2.3 Carbon storage 31
  - 3.2.3.1 Passive storage 31
  - 3.2.3.2 Enhanced oil recovery 32
3.3 Direct Air Capture and Storage (DACCS) Market 33
3.4 What is Carbon Dioxide Removal (CDR)? 33
- 3.4.1 Nature-based CDR Solutions 33
- 3.4.2 Technological CDR Solutions 34
- 3.4.3 Technology Readiness Level (TRL): Carbon Dioxide Removal Methods 35
- 3.4.4 Carbon Credits 35
- 3.4.4.1 Market Demand and Prices 36
- 3.4.5 DACCS advantages 36
3.5 Market map 38
3.6 Commercial CCUS facilities and projects 41
- 3.6.1 Facilities 42
- 3.6.1.1 Operational 42
  - 3.6.1.2 Under development/construction 44
3.7 CCUS Value Chain 50
3.8 Transporting CO2 51
- 3.8.1 Methods of CO2 transport 51
  - 3.8.1.1 Pipeline 52
  - 3.8.1.2 Ship 53
  - 3.8.1.3 Road 53
  - 3.8.1.4 Rail 53
- 3.8.2 Safety 54
3.9 Costs 54
- 3.9.1 Cost of CO2 transport 56
3.10 Carbon credits 58

4 CARBON CAPTURE 60

4.1 CO2 capture from point sources 61
- 4.1.1 Transportation 62
- 4.1.2 Global point source CO2 capture capacities 62
- 4.1.3 By source 64
- 4.1.4 By endpoint 65
4.2 Main carbon capture processes 66
- 4.2.1 Materials 66
- 4.2.2 Post-combustion 68
- 4.2.3 Oxy-fuel combustion 69
- 4.2.4 Liquid or supercritical CO2: Allam-Fetvedt Cycle 70
- 4.2.5 Pre-combustion 71

5 DIRECT AIR CAPTURE AND STORAGE (DACCS) 73

5.1 Technology description 73
- 5.1.1 Sorbent-based CO2 Capture 73
- 5.1.2 Solvent-based CO2 Capture 73
- 5.1.3 DAC Solid Sorbent Swing Adsorption Processes 74
- 5.1.4 Electro-Swing Adsorption (ESA) of CO2 for DAC 75
- 5.1.5 Solid and liquid DAC 75
5.2 Advantages of DAC 77
5.3 Deployment 78
5.4 Point source carbon capture versus Direct Air Capture 79
5.5 Technologies 79
- 5.5.1 Solid sorbents 81
- 5.5.2 Liquid sorbents 83
- 5.5.3 Liquid solvents 84
- 5.5.4 Airflow equipment integration 85
- 5.5.5 Passive Direct Air Capture (PDAC) 85
- 5.5.6 Direct conversion 86
- 5.5.7 Co-product generation 86
- 5.5.8 Low Temperature DAC 86
- 5.5.9 Regeneration methods 86
5.6 Electricity and Heat Sources 87
5.7 Commercialization and plants 87
5.8 Metal-organic frameworks (MOFs) in DAC 89
5.9 DAC plants and projects-current and planned 89
5.10 Capacity forecasts 96
5.11 Costs 98
5.12 Market challenges for DAC 105
5.13 Market prospects for direct air capture 106
5.14 Players and production 108
5.15 Co2 utilization pathways 109
5.16 Markets for Direct Air Capture and Storage (DACCS) 111
- 5.16.1 Fuels 111
  - 5.16.1.1 Overview 111
  - 5.16.1.2 Production routes 113
  - 5.16.1.3 Methanol 114
  - 5.16.1.4 Algae based biofuels 115
  - 5.16.1.5 CO₂-fuels from solar 116
  - 5.16.1.6 Companies 117
  - 5.16.1.7 Challenges 120
- 5.16.2 Chemicals, plastics and polymers 121
  - 5.16.2.1 Overview 121
  - 5.16.2.2 Scalability 121
  - 5.16.2.3 Plastics and polymers 122
  - 5.16.2.4 Urea production 124
  - 5.16.2.5 Inert gas in semiconductor manufacturing 125
  - 5.16.2.6 Carbon nanotubes 125
  - 5.16.2.7 Companies 125
- 5.16.3 Construction materials 127
  - 5.16.3.1 Overview 127
  - 5.16.3.2 CCUS technologies 129
  - 5.16.3.3 Carbonated aggregates 131
  - 5.16.3.4 Additives during mixing 133
  - 5.16.3.5 Concrete curing 133
  - 5.16.3.6 Costs 134
  - 5.16.3.7 Companies 134
  - 5.16.3.8 Challenges 136
- 5.16.4 CO2 Utilization in Biological Yield-Boosting 137
  - 5.16.4.1 Overview 137
  - 5.16.4.2 Applications 137
  - 5.16.4.3 Companies 140
- 5.16.5 Food and feed production 141
- 5.16.6 CO₂ Utilization in Enhanced Oil Recovery 142
  - 5.16.6.1 Overview 142
  - 5.16.6.2 CO₂-EOR facilities and projects 143
5.17 Storage 146
- 5.17.1 CO2 storage sites 147
  - 5.17.1.1 Storage types for geologic CO2 storage 147
  - 5.17.1.2 Oil and gas fields 149
  - 5.17.1.3 Saline formations 150
- 5.17.2 Global CO2 storage capacity 153
- 5.17.3 Costs 154

6 COMPANY PROFILES 156 (66 company profiles)

7 REFERENCES 209

List of Tables

Table 1. Abbreviations. 13
Table 2. Technology Readiness Level (TRL) Examples. 15
Table 3. Key market barriers for CCUS. 16
Table 4. CO2 utilization and removal pathways 21
Table 5. Approaches for capturing carbon dioxide (CO2) from point sources. 24
Table 6. CO2 capture technologies. 26
Table 7. Advantages and challenges of carbon capture technologies. 27
Table 8. Overview of commercial materials and processes utilized in carbon capture. 28
Table 9. Benchmarking comparison of various CDR technologies based on key parameters. 34
Table 10. Global commercial CCUS facilities-in operation. 42
Table 11. Global commercial CCUS facilities-under development/construction. 44
Table 12. Methods of CO2 transport. 52
Table 13. Carbon capture, transport, and storage cost per unit of CO2 54
Table 14. Estimated capital costs for commercial-scale carbon capture. 55
Table 15. DACCS carbon credit revenue forecast (million US$), 2024-2045. 58
Table 16. Point source examples. 61
Table 17. Assessment of carbon capture materials 66
Table 18. Chemical solvents used in post-combustion. 69
Table 19. Commercially available physical solvents for pre-combustion carbon capture. 72
Table 20. DAC technologies. 74
Table 21. Advantages and disadvantages of DAC. 77
Table 22. Advantages of DAC as a CO2 removal strategy. 77
Table 23. Companies developing airflow equipment integration with DAC. 85
Table 24. Companies developing Passive Direct Air Capture (PDAC) technologies. 85
Table 25. Companies developing regeneration methods for DAC technologies. 86
Table 26. DAC companies and technologies. 88
Table 27. DAC technology developers and production. 90
Table 28. DAC projects in development. 95
Table 29. DACCS carbon removal capacity forecast (million metric tons of CO₂ per year), 2024-2045, base case. 96
Table 30. DACCS carbon removal capacity forecast (million metric tons of CO₂ per year), 2030-2045, optimistic case. 97
Table 31. Costs summary for DAC. 98
Table 32. Typical cost contributions of the main components of a DACCS system. 100
Table 33. Cost estimates of DAC. 103
Table 34. Challenges for DAC technology. 105
Table 35. DAC companies and technologies. 108
Table 36. Example CO2 utilization pathways. 109
Table 37. Markets for Direct Air Capture and Storage (DACCS). 111
Table 38. Market overview for CO2 derived fuels. 111
Table 39. Microalgae products and prices. 115
Table 40. Main Solar-Driven CO2 Conversion Approaches. 117
Table 41. Companies in CO2-derived fuel products. 117
Table 42. Commodity chemicals and fuels manufactured from CO2. 122
Table 43. CO2 utilization products developed by chemical and plastic producers. 123
Table 44. Companies in CO2-derived chemicals products. 125
Table 45. Carbon capture technologies and projects in the cement sector 129
Table 46. Companies in CO2 derived building materials. 134
Table 47. Market challenges for CO2 utilization in construction materials. 136
Table 48. Companies in CO2 Utilization in Biological Yield-Boosting. 140
Table 49. CO2 sequestering technologies and their use in food. 141
Table 50. Applications of CCS in oil and gas production. 142
Table 51. Storage and utilization of CO2. 146
Table 52. Global depleted reservoir storage projects. 148
Table 53. Global CO2 ECBM storage projects. 148
Table 54. CO2 EOR/storage projects. 149
Table 55. Global storage sites-saline aquifer projects. 151
Table 56. Global storage capacity estimates, by region. 153

List of Figures

Figure 1. Schematic of CCUS process. 19
Figure 2. Pathways for CO2 utilization and removal. 20
Figure 3. A pre-combustion capture system. 26
Figure 4. Carbon dioxide utilization and removal cycle. 30
Figure 5. Various pathways for CO2 utilization. 31
Figure 6. Example of underground carbon dioxide storage. 32
Figure 7. Carbon Capture, Utilization, & Storage (CCUS) Market Map. 40
Figure 8. CCS deployment projects, historical and to 2035. 41
Figure 9. Existing and planned CCS projects. 50
Figure 10. CCUS Value Chain. 50
Figure 11. Transport of CCS technologies. 51
Figure 12. Railroad car for liquid CO₂ transport 54
Figure 13. Estimated costs of capture of one metric ton of carbon dioxide (Co2) by sector. 56
Figure 14. Cost of CO2 transported at different flowrates 57
Figure 15. Cost estimates for long-distance CO2 transport. 58
Figure 16. CO2 capture and separation technology. 60
Figure 17. Global capacity of point-source carbon capture and storage facilities. 63
Figure 18. Global carbon capture capacity by CO2 source, 2021. 64
Figure 19. Global carbon capture capacity by CO2 source, 2030. 64
Figure 20. Global carbon capture capacity by CO2 endpoint, 2021 and 2030. 65
Figure 21. Post-combustion carbon capture process. 68
Figure 22. Postcombustion CO2 Capture in a Coal-Fired Power Plant. 69
Figure 23. Oxy-combustion carbon capture process. 70
Figure 24. Liquid or supercritical CO2 carbon capture process. 71
Figure 25. Pre-combustion carbon capture process. 72
Figure 26. CO2 captured from air using liquid and solid sorbent DAC plants, storage, and reuse. 76
Figure 27. Global CO2 capture from biomass and DAC in the Net Zero Scenario. 77
Figure 28. Potential for DAC removal versus other carbon removal methods. 78
Figure 29. DAC technologies. 80
Figure 30. Schematic of Climeworks DAC system. 81
Figure 31. Climeworks’ first commercial direct air capture (DAC) plant, based in Hinwil, Switzerland. 82
Figure 32. Flow diagram for solid sorbent DAC. 82
Figure 33. Direct air capture based on high temperature liquid sorbent by Carbon Engineering. 84
Figure 34. Global capacity of direct air capture facilities. 90
Figure 35. Global map of DAC and CCS plants. 96
Figure 36. Schematic of costs of DAC technologies. 101
Figure 37. DAC cost breakdown and comparison. 102
Figure 38. Operating costs of generic liquid and solid-based DAC systems. 104
Figure 39. Co2 utilization pathways and products. 110
Figure 40. Conversion route for CO2-derived fuels and chemical intermediates. 113
Figure 41. Conversion pathways for CO2-derived methane, methanol and diesel. 113
Figure 42. CO2 feedstock for the production of e-methanol. 114
Figure 43. Schematic illustration of (a) biophotosynthetic, (b) photothermal, (c) microbial-photoelectrochemical, (d) photosynthetic and photocatalytic (PS/PC), (e) photoelectrochemical (PEC), and (f) photovoltaic plus electrochemical (PV+EC) approaches for CO2 c 116
Figure 44. Audi synthetic fuels. 118
Figure 45. Conversion of CO2 into chemicals and fuels via different pathways. 121
Figure 46. Conversion pathways for CO2-derived polymeric materials 123
Figure 47. Conversion pathway for CO2-derived building materials. 128
Figure 48. Schematic of CCUS in cement sector. 129
Figure 49. Carbon8 Systems’ ACT process. 132
Figure 50. CO2 utilization in the Carbon Cure process. 133
Figure 51. Algal cultivation in the desert. 138
Figure 52. Example pathways for products from cyanobacteria. 139
Figure 53. Typical Flow Diagram for CO2 EOR. 143
Figure 54. Large CO2-EOR projects in different project stages by industry. 145
Figure 55. CO2 Storage Overview - Site Options 147
Figure 56. CO2 injection into a saline formation while producing brine for beneficial use. 151
Figure 57. Subsurface storage cost estimation. 155
Figure 58. Schematic of carbon capture solar project. 159
Figure 59. Carbonminer DAC technology. 164
Figure 60. Carbon Blade system. 165
Figure 61. Direct Air Capture Process. 169
Figure 62. Orca facility. 172
Figure 63. Holy Grail DAC system. 185
Figure 64. Infinitree swing method. 187
Figure 65. Audi/Krajete DAC unit. 189
Figure 66. Neustark modular plant. 193
Figure 67. 3D model of 100,000 tpa DAC plant 197
Figure 68. RepAir technology. 198
Figure 69. Skytree pilot DAC unit. 200
Figure 70. Soletair Power unit. 201

The Global Direct Air Carbon Capture and Storage (DACCS) Market 2024-2045

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The Global Direct Air Carbon Capture and Storage (DACCS) Market 2024-2045

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1 ABBREVIATIONS 13

2 RESEARCH METHODOLOGY 14

3 INTRODUCTION 18

4 CARBON CAPTURE 60

5 DIRECT AIR CAPTURE AND STORAGE (DACCS) 73

6 COMPANY PROFILES 156 (66 company profiles)

7 REFERENCES 209

List of Tables

List of Figures

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