Direct Air Capture Market to Reach US$3,008.30 million by 2032 by 2032 | Strong 61.23% CAGR | North America Leads with 42% Share | Key Players: Climeworks, Carbon Engineering, Global Thermostat, Soletair Power

Direct Air Capture (DAC) Market Size and Overview

The Global Direct Air Capture (DAC) Market reached US$ 65.88 million in 2024 and is projected to reach US$ 3,008.30 million by 2032, growing at an impressive CAGR of 61.23% during the forecast period 2025-2032, according to the DataM Intelligence report.

The rapid expansion of the DAC market is primarily driven by the rising global awareness and urgency to combat climate change. Governments, corporations, and international organizations are increasingly recognizing the critical need to reduce atmospheric CO2 concentrations, one of the leading contributors to global warming. Aligned with the Paris Agreement's goal of achieving net-zero emissions by 2050, DAC technology offers a feasible and scalable carbon removal solution. It directly captures CO2 from ambient air for storage or reuse in industrial processes such as synthetic fuel production, food carbonation, and concrete manufacturing.

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Recent Developments:

✅ December 2025: A leading DAC technology firm commissioned a commercial-scale plant in North America, featuring enhanced sorbent materials that significantly improve CO2 capture efficiency and reduce operational costs.

✅ October 2025: A European industrial consortium announced a strategic partnership to deploy modular DAC units powered by renewable energy, aimed at supporting net-zero commitments for heavy-industry clusters.

✅ August 2025: An energy company secured major funding from public and private investors to scale up DAC facilities in the Middle East, integrating captured carbon into synthetic fuel production.

✅ June 2025: A startup specializing in solid-sorbent DAC systems completed successful pilot testing, demonstrating improved durability and lower energy requirements compared to conventional liquid solvent methods.

✅ March 2025: A global research collaboration published results from a pilot DAC project showing that captured CO2 can be effectively used in carbon-negative concrete production, highlighting new industrial reuse pathways.

Mergers & Acquisitions:

✅ November 2023: Occidental Petroleum acquired Carbon Engineering for approximately US$1.1 billion, expanding its DAC technology portfolio and accelerating large-scale carbon removal initiatives.

✅ September 2025: Baker Hughes completed the acquisition of Mosaic Materials, integrating advanced DAC sorbent technologies to enhance energy efficiency and scalability in carbon capture systems.

✅ July 2025: Climeworks acquired Antecy, strengthening its modular DAC systems and boosting its capacity to deploy next-generation CO2 capture units globally.

✅ May 2025: Zero Carbon Systems merged with Global Thermostat, combining proprietary DAC technologies to lower operational costs and improve capture performance.

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

Key Highlights:

• Climeworks - Holds a 17.8% share, recognized as a global leader in DAC technology with large-scale commercial plants in Europe and North America. The company focuses on modular, renewable energy-powered systems for permanent CO2 storage and utilization.

• Carbon Engineering ULC - Holds a 15.6% share, specializing in liquid solvent-based DAC systems capable of capturing CO2 for synthetic fuel production and industrial reuse applications.

• Global Thermostat - Holds a 13.2% share, leveraging proprietary amine-based sorbents and high-efficiency adsorption processes to reduce the energy intensity of CO2 capture.

• Heirloom Carbon Technologies - Holds an 11.5% share, utilizing a mineralization-based DAC process that accelerates natural carbonation to achieve rapid and low-cost carbon capture at scale.

• Soletair Power - Holds a 9.6% share, integrating DAC systems into building ventilation and industrial settings to convert captured CO2 into renewable fuels and construction materials.

• CarbonCapture Inc. - Holds an 8.7% share, focusing on modular DAC units with customizable sorbent cartridges, offering flexible deployment for large industrial and energy applications.

• Avnos, Inc. - Holds a 7.2% share, pioneering hybrid DAC systems that combine carbon capture and water harvesting, improving resource efficiency and sustainability.

• Noya PBC - Holds a 6.5% share, developing cost-effective DAC retrofits for existing cooling towers, enabling rapid deployment in urban and industrial environments.

• Skytree - Holds a 5.4% share, specializing in decentralized DAC solutions for smaller-scale applications such as mobility, agriculture, and indoor air quality systems.

• RepAir - Holds a 4.5% share, advancing electrochemical DAC systems that operate at low temperatures and energy consumption, offering a scalable path to carbon removal.

Market Segmentation:

➥ By Technology, Liquid DAC systems dominate with a 45% share, utilizing liquid solvents such as hydroxide-based solutions to absorb CO2 directly from the atmosphere and convert it into reusable or storable forms. Electrochemical DAC accounts for 30%, leveraging electrochemical cells for high-efficiency carbon capture with lower energy requirements. Other technologies, including solid sorbent and hybrid DAC systems, represent 25%, providing innovative alternatives for modular and decentralized carbon removal applications.

➥ By Energy Source, Electricity-powered DAC systems lead with a 55% share, driven by the integration of renewable energy sources such as solar and wind to ensure carbon-neutral operations. Heat-based DAC systems hold a 45% share, relying on thermal regeneration processes that utilize waste heat or geothermal energy for CO2 desorption, particularly in large-scale industrial facilities.

➥ By Application, Carbon Capture and Storage (CCS) accounts for a 50% share, as captured CO2 is permanently stored in geological formations or mineralized for long-term sequestration. Carbon Capture, Utilization, and Storage (CCUS) represents 40%, where CO2 is repurposed for industrial uses such as synthetic fuel, cement, and chemical production. Other applications, including direct carbon-to-product conversion and air quality management, make up the remaining 10%.

➥ By End-User, the Oil & Gas sector leads with a 35% share, adopting DAC technology for enhanced oil recovery (EOR) and emission offsetting. The Chemicals & Fuels industry follows with a 25% share, using captured CO2 for synthetic fuels, plastics, and industrial chemicals. Carbon Mineralization represents 15%, focusing on integrating captured CO2 into building materials. Agriculture holds a 13% share, leveraging DAC for soil carbon enhancement and greenhouse applications. The Food & Beverages industry accounts for 12%, utilizing CO2 in carbonation, preservation, and packaging processes.

Regional Insights:

North America dominates the market with a 42% share, driven by strong government support, early commercialization efforts, and large-scale pilot projects in the U.S. and Canada. The region benefits from significant investments by key players such as Carbon Engineering, Occidental Petroleum, and Climeworks, alongside policy initiatives like the U.S. Inflation Reduction Act (IRA), which provides tax credits for carbon capture and storage (CCS). Multiple DAC hubs are under construction in Texas, Arizona, and Alberta, positioning North America as the global center for DAC scale-up and innovation.

Europe holds a 32% share, fueled by robust climate policies, net-zero targets, and funding from the European Green Deal and Horizon Europe. Countries such as Iceland, the UK, and Switzerland lead in DAC deployment, with Climeworks' Orca and Mammoth plants serving as flagship projects for CO2 capture and permanent storage. The EU's increasing emphasis on carbon removal credits and industrial decarbonization further accelerates adoption.

Asia-Pacific (APAC) accounts for a 15% share, emerging as a high-growth region due to rapid industrialization, rising energy demand, and national decarbonization initiatives. Nations like Japan, China, and South Korea are investing in DAC research and pilot programs integrated with renewable energy sources and synthetic fuel production. Japan's efforts to couple DAC with hydrogen production also highlight its growing role in the clean energy transition.

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Market Dynamics:

Driver 1 - Increasing Emphasis on Global Net-Zero Emission Goals
The growing urgency to combat climate change and achieve global net-zero emission targets is a key driver of the Direct Air Capture (DAC) market. Carbon dioxide (CO2) emissions account for approximately 76% of total greenhouse gas emissions, making them the primary focus of global decarbonization strategies.

According to the Global Monitoring Laboratory (NOAA), the average atmospheric CO2 concentration reached 417.06 parts per million (ppm) in 2022, reflecting an increase of 2.13 ppm from the previous year one of the highest annual rises recorded. This alarming trend underscores the critical need for scalable carbon removal technologies such as DAC.

Over 140 countries, including major emitters such as China, the United States, India, and the European Union, have pledged to achieve net-zero emissions by 2050. This shift requires not only emission reductions but also the active removal of CO2 from the atmosphere, creating favorable conditions for the large-scale adoption of DAC systems. The alignment of global climate policies, corporate sustainability commitments, and investment incentives is significantly accelerating the development and commercialization of DAC technologies worldwide.

Driver 2 - Scaling Up of Direct Air Capture (DAC) Deployments
The global deployment of DAC technology is expanding rapidly, signaling a major transition from pilot testing to commercial implementation. As of 2024, 27 DAC facilities are operational worldwide, collectively capturing approximately 0.01 million metric tons of CO2 annually. However, with over 130 new DAC projects in various stages of development, the market is entering a phase of rapid scaling.

Forecasts indicate that DAC systems are expected to capture over 85 million tons of CO2 by 2030 and approximately 980 million tons by 2050. Governments are endorsing DAC as an integral component of national carbon management strategies. For instance, Carbon Engineering ULC plans to construct a large-scale DAC facility by 2025 capable of capturing up to 1 million metric tons of CO2 per year. This reflects growing confidence in DAC's ability to contribute meaningfully to emission reduction and carbon neutrality efforts.

Restraint - High Cost of Implementation
Despite its promise, high implementation costs remain a major restraint to DAC market expansion. DAC systems rely heavily on renewable energy sources such as solar and wind to extract atmospheric CO2, making the process energy-intensive and capital-heavy. As a relatively nascent technology, DAC has fewer commercial players and limited operational experience, which contributes to elevated setup and operating costs.

According to the World Resources Institute (WRI), the current cost of capturing CO2 via DAC ranges between US$ 250 and US$ 600 per ton, depending on factors such as technology type, energy source, and scale of deployment. Although these costs currently exceed those of alternative carbon removal methods, ongoing advancements in sorbent materials, process integration, and renewable energy efficiency are expected to drive substantial cost reductions in the coming decade. As the technology matures, economies of scale and industrial standardization are anticipated to make DAC a cost-effective and scalable solution for global carbon removal.

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