Direct Air Capture Market to Reach US$3,008.30 Million by 2032 | CAGR 61.2% | North America Leads with 38% Share | Key Players: Climeworks, Carbon Engineering ULC, Global Thermostat

Market 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, expanding at a remarkable CAGR of 61.23% during the forecast period 2025-2032.

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Direct Air Capture (DAC) technology involves capturing CO2 directly from the atmosphere using chemical or physical processes, enabling the captured carbon to be stored safely or repurposed in industrial applications. DAC represents a critical component in global climate mitigation strategies, offering a scalable solution to reduce atmospheric carbon concentrations, thereby combating climate change and supporting global net-zero initiatives.

The growth of the DAC market is fueled by:

Increasing global awareness of climate change and its impacts.
Governmental and corporate commitments to net-zero emissions, aligned with frameworks like the Paris Agreement.
Rising investments by high-emission industries (oil & gas, aviation, manufacturing) seeking carbon mitigation technologies to comply with regulatory and investor-driven sustainability goals.

DAC systems allow companies to capture, store, or reuse carbon, supporting operational sustainability even in sectors where decarbonization is challenging. With the intensifying focus on reducing global CO2 levels, DAC technologies are becoming an essential solution for environmental strategy and corporate responsibility, driving rapid market adoption worldwide.

Key Developments:

✅ January 2026 - North America: A leading DAC provider launched a next-generation modular air capture unit with enhanced CO2 removal efficiency and lower energy consumption, targeting industrial-scale carbon capture projects.

✅ November 2025 - Europe: Climeworks expanded its operational capacity by commissioning a new large-scale DAC facility in Iceland, capable of capturing up to 8,000 tons of CO2 per year for underground storage.

✅ In June 2024, RepAir and EnEarth, the specialized Carbon Storage and Environmental Services subsidiary of Energean, entered into an agreement to utilize RepAir's Direct Air Capture technology for the sequestration of CO2 in the Prinos saline aquifer located in Kavala, Greece. The project is anticipated to recommence in early 2026 for the purpose of carbon dioxide storage.

✅ In September 2024, 1PointFive disclosed a contract with Microsoft to provide 500,000 metric tons of carbon dioxide removal (CDR) facilitated by Direct Air Capture (DAC) technology.

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Key Players:

Climeworks - Holds 16.5% share, recognized for its large-scale DAC plants in Europe, particularly in Iceland and Switzerland, with advanced modular units capable of capturing CO2 for storage and utilization.

Carbon Engineering ULC - Holds 14.8% share, a leader in integrating DAC technology with synthetic fuel production and industrial CO2 capture, with strong North American operations.

Global Thermostat - Holds 12.3% share, specializing in scalable DAC solutions for industrial applications and commercialization of CO2 for chemical synthesis.

Heirloom Carbon Technologies - Holds 11.1% share, known for its mineralization-based DAC approach, enabling long-term CO2 sequestration with low operational energy requirements.

Soletair Power - Holds 9.7% share, focused on integrating DAC with building ventilation systems and on-site CO2 utilization for sustainable fuel production.

CarbonCapture Inc - Holds 8.5% share, providing modular DAC units targeting industrial and municipal CO2 removal projects.

Avnos, Inc. - Holds 7.9% share, developing innovative sorbent-based DAC solutions with applications in both storage and carbon recycling.

Noya PBC - Holds 6.8% share, leveraging electrochemical DAC technology to capture CO2 with minimal energy inputs for downstream utilization.

Skytree - Holds 6.2% share, a European DAC company specializing in mobile and modular air capture units for local and industrial deployments.

RepAir - Holds 6.2% share, providing compact, high-efficiency DAC systems for commercial and municipal CO2 capture projects.

Market Segmentation:

By Technology:
Liquid DAC - Holds 45% share, driven by its high CO2 absorption efficiency and established use in industrial-scale carbon capture projects.

Electrochemical DAC - Holds 32% share, gaining traction due to lower energy consumption, modular deployment, and suitability for integration with renewable electricity sources.

Others - Holds 23% share, including solid sorbent-based systems, mineralization-enhanced DAC, and hybrid approaches under research or early commercial use.

By Energy Source:
Electricity - Holds 55% share, fueled by the integration of renewable power sources and growing use in electrochemical and modular DAC units.

Heat - Holds 45% share, commonly used in liquid DAC systems and high-temperature sorbent regeneration processes.

By Application:
Carbon Capture and Storage (CCS) - Holds 51% share, where captured CO2 is sequestered underground for permanent storage.

Carbon Capture, Utilization and Storage (CCUS) - Holds 49% share, involving captured CO2 being converted into fuels, chemicals, or materials while optionally storing excess emissions.

By End-User:
Agriculture - Holds 12% share, using captured CO2 for greenhouse enrichment and soil amendment.

Chemicals & Fuels - Holds 30% share, leveraging captured CO2 for synthetic fuels, polymers, and other chemical products.

Carbon Mineralization - Holds 18% share, converting captured CO2 into stable carbonates for construction and industrial applications.

Food & Beverages - Holds 15% share, using CO2 for carbonation and packaging applications.

Oil & Gas - Holds 25% share, for enhanced oil recovery (EOR) and industrial decarbonization initiatives.

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Regional Insights:

North America:
North America dominates the DAC market, accounting for approximately 38% of the global share in 2024. The region's leadership is driven by strong government support for carbon reduction initiatives, well-funded private investments, and the presence of leading DAC technology providers like Carbon Engineering and CarbonCapture Inc. High adoption in industrial sectors such as chemicals, oil & gas, and power generation, coupled with regulatory incentives for carbon mitigation, further fuels growth.

Europe:
Europe holds about 31% of the market share, supported by ambitious climate policies under the European Green Deal and EU directives on carbon neutrality. Countries like Switzerland, Germany, and the Netherlands are actively deploying DAC facilities, including commercial-scale plants by Climeworks, with both storage and utilization applications. Government funding and corporate sustainability programs are major growth drivers in the region.

Asia-Pacific:
The Asia-Pacific region contributes nearly 18% of the market, driven by rapid industrialization, rising CO2 emissions, and increasing adoption of clean technologies in China, Japan, South Korea, and Australia. Pilot DAC projects are being deployed in collaboration with large industrial corporations and research institutions, particularly for integration with chemical production and carbon utilization.

Market Dynamics:

Driver:

The rising environmental concerns, particularly from carbon dioxide emissions which account for around 76% of total greenhouse gas emissions are driving global initiatives to adopt Direct Air Capture systems. In 2022, NOAA's Global Monitoring Lab reported an average atmospheric CO2 concentration of 417.06 ppm, up 2.13 ppm from the previous year. Governments worldwide are implementing measures to achieve net-zero emissions, with over 140 nations, including major emitters like China, the US, India, and the European Union, committing to net-zero targets by 2050. This shift creates favorable conditions for the adoption of DAC technologies, which actively remove CO2 from the atmosphere.

Driver 2 - Utilization of Direct Air Capture on a Larger Scale
Currently, 27 DAC facilities are operational globally, collectively capturing approximately 0.01 million metric tons of CO2 per year. Over 130 additional facilities are proposed at various stages of development. Projections indicate DAC technologies could capture 85 million tons of CO2 by 2030 and up to 980 million tons by 2050. Governments are supporting DAC as part of their national decarbonization strategies, encouraging scaling of the technology. For example, Carbon Engineering ULC plans to build a facility in 2025 capable of capturing 1 million metric tons of CO2 annually, demonstrating the growing industrial application of DAC.

Restraints:

High Cost of Direct Air Capture
Despite using renewable energy sources like wind and solar, DAC remains more expensive compared to other carbon removal methods. Capturing CO2 directly from the atmosphere is energy-intensive, and the technology is still in its nascent stage, with relatively few operational projects. According to the World Resources Institute (WRI), the cost of DAC ranges from US$ 250 to US$ 600 per ton of CO2, depending on the technology, energy source, and scale of deployment. While costs remain a barrier, ongoing technological innovations and economies of scale are expected to reduce expenses and enhance adoption in the coming years.

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