Direct Air Capture Market Set for Explosive Growth to USD 3,008.30 Million by 2032, Led by North America's Over 44% Global Market Share | DataM Intelligence

The Global Direct Air Capture Market reached USD 65.88 million in 2024 and is expected to reach USD 3,008.30 million by 2032, growing at a strong CAGR of 61.23% during the forecast period 2025-2032.

Market growth is driven by increasing global focus on carbon neutrality, rising investments in carbon removal technologies, and supportive government policies and incentives for climate mitigation. Additionally, growing corporate net-zero commitments, advancements in capture materials and processes, and expanding carbon utilization and storage infrastructure are accelerating market adoption.

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United States: Key Industry Developments
✅ September 2025: GE Vernova announced a partnership to deploy its solid sorbent Direct Air Capture (DAC) technology at Deep Sky Alpha, capable of capturing up to 1,500 tons of carbon per year, advancing scalable carbon removal solutions.​

✅ August 2025: Deep Sky launched its Alpha facility in Alberta, achieving North America's first underground CO2 storage from DAC, hosting technologies from Skyrenu, GE Vernova, and others to drive commercialization.​

Asia Pacific / Japan: Key Industry Developments
✅ September 2025: Aircapture launched Japan's first commercial DAC facility at AIZAWA Concrete's Fukushima RDM Center, capturing atmospheric CO2 for integration into concrete production and addressing local supply shortages.​

Key Merges and Acquisitions(2025):
✅ Occidental Petroleum - acquired Holocene Climate Corporation in April 2025, enhancing its DAC portfolio with liquid sorbent technology to improve efficiency and reduce CO2 capture costs alongside its existing Carbon Engineering assets.
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✅ Skytree B.V. - strengthened its DAC technology in December 2024 by acquiring ReCarbn B.V., integrating advanced filtration and sorbent circulation IP to boost scalability and cost-effectiveness.​

✅ Oxy Low Carbon Ventures - expanded Occidental's DAC leadership through the strategic purchase of Holocene, signaling industry consolidation and a focus on technology diversification for large-scale deployment.​

Market Segmentation Analysis:
-By Technology: Solid DAC Leads with Maturity
Liquid DAC holds 35% market share as of 2024, using liquid solvents for CO2 absorption, offering high capture rates and scalability for industrial integration.​
Electrochemical DAC captures 20% share, employing electrical processes for selective CO2 removal with lower energy needs, ideal for modular deployments.​
Others, including solid DAC variants, command 45% dominance due to mature sorbents like amines, lower energy use, and proven efficiency.​

-By Energy Source: Electricity Powers Majority
Electricity dominates with 68% market share, leveraging renewables for scalable, low-carbon DAC operations in solid systems.​
Heat contributes 32% share, enhancing efficiency via waste heat or geothermal sources, reducing fossil fuel reliance.​

-By Application: CCS Edges Utilization
Carbon Capture and Storage (CCS) leads with 55% share, focusing on permanent underground sequestration for net-zero goals.​
Carbon Capture, Utilization and Storage (CCUS) takes 45% share, repurposing CO2 for fuels or materials, driving economic viability.​

-By End-User: Chemicals & Fuels Prevail
Chemicals & Fuels hold 30% share, utilizing captured CO2 for synthetic fuels and products amid rising demand.​
Oil & Gas follows at 25%, integrating DAC for enhanced recovery and emissions offsets.​
Agriculture and Food & Beverages each claim 15%, enabling on-site carbon for enhanced growth and beverages.​
Carbon Mineralization and Others split 15%, focusing on mineralization and niche uses.

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Growth Drivers:
-Rising global commitments to net-zero emissions by governments and corporations, accelerating demand for scalable carbon removal solutions.​

-Technological advancements in DAC systems, including solid sorbents, liquid solvents, and energy-efficient designs that reduce costs and improve scalability.​

-Supportive government policies, subsidies, and incentives like tax credits under the U.S. Inflation Reduction Act and similar frameworks worldwide.​

-Increasing investments from public and private sectors funding research, development, and large-scale deployment of DAC facilities.​

-Growing demand for carbon credits, offsets, and utilization in applications such as synthetic fuels and enhanced oil recovery.​

Regional Insights:
-North America leads the Direct Air Capture (DAC) market with the highest regional share, accounting for over 44% in 2024, driven by robust government incentives like the US Department of Energy's Regional DAC Hubs program, 45Q tax credits, and strong investments from companies such as Climeworks, Carbon Engineering, and Heirloom Carbon Technologies.​

-Europe follows as the second-largest market, benefiting from policy support, technological advancements, and corporate net-zero commitments that accelerate DAC adoption for carbon removal.​

-Asia Pacific ranks third, emerging as the fastest-growing region due to rising investments and demand in countries like China, India, and Japan, though its current share trails behind North America and Europe.​

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Key Players:
Avnos, Inc. | Carbon Engineering ULC. | CarbonCapture Inc. | Climeworks | Global Thermostat | Heirloom Carbon Technologies | Noya PBC | RepAir | Skytree | Soletair Power

Key Highlights (Top 5 Key Players) for Direct Air Capture (DAC) Market:
-Climeworks AG reported estimated annual revenue of USD 82.1 million, driven by scaling DAC facilities like Mammoth and securing over USD 1 billion in total funding.
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-Carbon Engineering ULC. advanced toward commercial-scale operations, with projected revenue contributions from partnerships enabling multi-million-ton CO2 capture capacity by 2030.
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-Global Thermostat achieved key milestones in modular DAC deployment, generating revenue through early offtake agreements and pilot-scale carbon removal sales estimated in tens of millions annually.
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-Heirloom Carbon Technologies secured funding for rapid expansion, reporting revenue from initial carbon credit sales and contracts targeting USD 50+ million in booked removals by 2025.
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-CarbonCapture Inc. reported growing revenue from innovative DAC tech, with deals supporting USD 20-30 million in annual capture value through U.S. hub deployments.
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