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

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