Press release
Atmospheric Resource Extraction Market Forecasted to Hit USD 6,445.20 million by 2034 with a 9.3% CAGR
Atmospheric Resource Extraction Market
The global atmospheric resource extraction market size was valued at USD 2,650.00 million in 2024. It is anticipated to generate an estimated revenue of USD 6,445.20 million by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust CAGR of 9.3% over the forecasted timeframe of 2025-2034.
Market Overview
Atmospheric resource extraction is the process of collecting and utilizing valuable materials, including water, gases, and minerals, directly from the Earth's atmosphere. Extraction of water from atmospheric air can be accomplished in two ways. Firstly, by cooling damp air to a temperature lesser than air dew point. The second method is soaking up water vapour from damp air using a solid or liquid desiccant with upcoming recuperation of extracted water by heating the desiccant and precipitating the evaporated water.
Additionally, solar energy can also be utilized as a green source of heat in the extraction procedure of water from atmospheric air. Calcium chloride and silica gel are utilized as a desiccant for soaking up moisture, and a leaning surface wooden box with glass encasement is utilized for evaporating and condensing soaked-up water vapor. This experiment is vital for giving clean and uncontaminated drinking water in remote regions of surfacing economies thus also boosting green extraction technologies.
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Market Drivers
Growing Usage in Agriculture: The market is growing at a rapid pace in several industries. Since December 2021, NASA has commenced utilizing space technology to enhance farming. For instance, the AeroPod, which was initially made to place tools in space, is now utilized to map pastures and inspect crop wellbeing more precisely. This indicates the foray of this methodology in agriculture, putting the atmospheric resource extraction market on a growth trajectory.
Increasing Water Shortages: The rising water shortages in dried-up and drought-prone regions are a prominent factor driving up the atmospheric mining industry. Nations such as in Africa, Middle East and sections of the US are funding in atmospheric water production to combat droughts. For instance, in February 2024, Egypt's Helwan Metal Equipment Company joined hands with Japan's Mizuha Co. to co-create an atmospheric water producer that has the potential to generate 1,000 liters of water per day.
Competitive Landscape
The market stays competitive as firms concentrate on improving their technological potential while ensuring superior product quality and meeting stringent regulatory needs. The list of key companies profiled are:
• Avnos, Inc.
• Carbon Engineering Ltd.
• CarbonCapture Inc.
• Climeworks AG
• Exxon Mobil Corporation
• Global Thermostat LLC
• Heirloom Carbon Technologies, Inc
• Noya PBC
• RepAir Carbon Capture Ltd.
• Skytree BV
• SLB (formerly Schlumberger Limited)
• Soletair Power Oy
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Atmospheric Resource Extraction Market Report Highlights
📚 In 2024, water extraction from air held the largest market share. This dominance is due to the increasing concerns over water scarcity, climate change, and the depletion of traditional freshwater sources.
📚 The industrial gas supply segment accounted for a significant atmospheric resource extraction market share in 2024, due to rising demand for gases such as oxygen, nitrogen, and carbon dioxide across various industries.
📚 Asia Pacific held a considerable share in 2024, driven by the region's substantial investments, commitment to expand their power generation capabilities, and its proactive approach to renewable energy adoption.
📚 The atmospheric resource extraction market in Europe is projected to grow rapidly during the projection period, driven by significant growth in renewable energy and creating a strong foundation for atmospheric resource extraction technologies.
Regional Analysis
The atmospheric resource extraction market exhibits notable regional variations driven by economic conditions, technological advancements, and industry-specific demand. Asia Pacific accounted for a considerable market share in 2024 due to its sizeable funding and allegiance to augment their power production potential.
Europe is projected to grow at a rapid pace during the forecast period due to notable development in renewable energy and generating a robust foundation for extraction technologies.
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Segmental Outlook
Atmospheric Resource Extraction Market, Molecule Type Outlook (Revenue - USD Billion, 2020-2034)
• Small Molecules
• Large Molecules
Atmospheric Resource Extraction Market, Therapeutic Application Outlook (Revenue - USD Billion, 2020-2034)
• Cancer
• Diabetes
• Cardiovascular Diseases
• Central Nervous Systems Diseases
• Infectious Disorders
• Musculoskeletal
• Anti-Viral
• Others
Atmospheric Resource Extraction Market, End-use Outlook (Revenue - USD Billion, 2020-2034)
• Pharmaceutical Companies
• Biopharmaceutical Companies
• Others
Atmospheric Resource Extraction Market, Route of Administration Outlook (Revenue - USD Billion, 2020-2034)
• Subcutaneous (SC)
• Intravenous (IV)
• Intramuscular (IM)
• Others
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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