Global Direct Air Carbon Capture Technology Market was valued at USD xx Mn in 2019 and is expected to reach USD xx Mn by 2027 at a CAGR of 4.3%over the forecast period 2020-2027.
The report covers an in-depth analysis of COVID 19 pandemic impact on Global Direct Air Carbon Capture Technology Market by region and on the key players’ revenue affected till July 2020 and expected short term and long-term impact on the market.
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Direct Air Carbon Capture Technology Market overview
The global adoption of direct carbon technology is rising as governments are coming up with supportive regulations for curbing toxic chemicals, other hazardous pollution, and there is a focus towards achieving a green & clean environment. The direct air carbon capture technology is used for the purification of hazardous CO2 air. It uses precise filters and large fans capture CO2 from the atmosphere air. In this process, ambient air is passed through a filter with help of the chemical absorbent and it produces CO2 that could be stored. Also, these technology used in the production of fuels, chemicals and building materials. Compared to other Negative Emissions Technologies (NETs), such as for example Bioenergy with Carbon Capture and Storage (BECCS), the Direct Air Carbon units have minimal land requirement.
Direct Air Carbon Capture Technology Market Dynamics.
The global emission of carbon dioxide and greenhouse gases is increasing at a rapid pace as a result depletion of the ozone layer and climate change causes severe damage to the environments. Besides, increasing consumption of fossils fuels in power generation, cement, and steel as the energy demand is increasing at a rapid pace. These factors have made aggressive adoptions of direct air carbon technology for the removal of existing large scale carbon dioxide (C02). Initiative taken by various countries from 196 parties in Paris Agreement to control the global warming issues to combat climate change and adapt to its effects has built many lucrative opportunities for the direct air carbon capture technology.
Research & development activities coupled with technological advancement and constant innovations in Direct Air Carbon Capture Technology are leading to a surge in market growth. The large scale productions plants are implementing and constructing new production plants that run their processing operations on renewable energy. This has built many opportunities for the direct air carbon capture technology market.
Investment in the development of technologies and systems for the point-source capture method of collecting CO2 directly from power plants to accelerate the development of DAC processes has bolstered the market growth.
Technological advancement in the solution of hydroxide solution and amine adsorbents in small, modular reactors to capture C02 is driving the market growth. Besides, other technologies that turn CO2 into stone has made a positive impact on the market.
However, on the other hand, the major factor that could hamper the demand is the high cost of direct air carbon capture technology. The cost ranges from US$ 600 to US$ 800 to extract one metric tonne of carbon dioxide.
Global Direct Air Carbon Capture Technology Market: Market Segmentation
Global Direct Air Carbon Capture Technology Market is segmented by applications into enhance oil recovery (EOR), industrial, agriculture, and others. The oil recovery method is dominating this segment as oil & gas companies are adopting direct air carbon capture technologies. Implementation of CO2 EOR projects is required for corrosion resistant field production infrastructure, laying CO2 gathering and transportation pipelines in oil & gas industry. Besides, CO2 acts as a displacing agent for the enhancement of oil recovery techniques. The report covers the detail information related to all application segments in the terms of value.
Global Direct Air Carbon Capture Technology Market: Regional Analysis
Geographically, the Direct Air Carbon Capture Technology market is segregated across North America, Europe, Asia Pacific, the Middle East, and Africa, and South America.
Europe accounted for a prominent market share of xx% in 2019 and is expected to continue its prominence during the forecast period. Research & development activities and stringent government regulations for toxic carbon emission are driving the direct air carbon capture technology market growth in this region. Currently, there are 15 direct air carbon capture operational plant in Europe.
In terms of value, North America held the second-largest market share of xx% in 2019 and is projected to grow at a CAGR of xx% by the end of 2027. In North America, companies are focusing on the expansion of DACC plants for sequester, capture thousands of tons of CO2 per year, and use it for enhanced oil recovery. Identification and support from appropriate niche markets for capturing carbon, such as synthetic fuels and long-lived products plays a vital role in the development of DACCS technologies and as a result there is a surge in the market growth in these regions.
Report covers in-depth analysis of key development, marketing strategies, supply-side, and demand side indicators and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Direct Air Carbon Capture Technology Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Direct Air Carbon Capture Technology Market dynamics, structure by analysing the market segments and project Global Direct Air Carbon Capture Technology Market Clear representation of competitive analysis of key players by price, financial position, Type portfolio, growth strategies, and regional presence in the Global Direct Air Carbon Capture Technology Market make the report investor’s guide.
Global Direct Air Carbon Capture Technology Market Competitive Landscape:
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Global Direct Air Carbon Capture Technology Market, by Collectors
Less than 10 collectors
More than 10 collectors
Others
Global Direct Air Carbon Capture Technology Market, by Applications
Enhance oil recovery (EOR)
Industrial
Agriculture
Others
Global Direct Air Carbon Capture Technology Market, by Region
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
Global Direct Air Carbon Capture Technology Market Major Players
• BASF SE
• JSP Corporation
• Armacell International S.A.
• Dow Chemical Company
• Borealis AG
• Woodbridge Foam Partner
• INEOS Styrenics
• British Vita Foams Plc.
• Others
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