The Global Market for Direct Air Capture (DAC) 2023-2033

Published June 2023 | 193 pages, 49 tables, 70 figures | Download table of contents

There is a growing market demand for clean technologies and products with reduced emissions. Direct Air Capture (DAC) is an emerging carbon dioxide removal strategy that uses advanced, mainly proprietary technology to capture and store or utilize carbon dioxide directly from the ambient air. Captured CO2 can be permanently stored in deep geological formations and depleted aquifers. Novel technologies can trap CO2 in rocks, via mineralization. Captured CO2 can also be used in a range of applications.

The ability to sell or convert CO2 into useful products provides a commercialization pathway for DAC, with products including:

Concrete and Cement.
Precursors for plastics, chemicals, feedstocks etc.
Synthetic Fuels.
Food processing.
Enhanced oil recovery.

While the market is in its infancy, with a relatively small amount of DAC plants in operation (mainly in Europe, USA, Canada and Japan), the potential of these technologies will play a growing role in the carbon capture market. Companies are being incentivized to develop the technology with the US government offering $3.5 billion in grants.

Report contents include:

Analysis of the overall market for Carbon Capture, Utilization and Storage (CCUS).
Costs for DAC, current and targeted.
Pros and cons of DAC.
In-depth DAC technology analysis.
Comparative analysis of DAC to other carbon capture tech.
Commercialization and plants including production capacities.
Market challenges.
Key players analysis.
Markets for CO2 captured by DAC.
Profiles of 62 companies involved in Direct Air Capture (DAC). Companies profiled include AspiraDAC, Carbofex Oy, CarbonCapture Inc., Charm Industrial, Climeworks, Holocene, 44.01, Mission Zero Technologies, Noya, Occidental Petroleum Corp., and Removr.

1 ABBREVIATIONS 13

2 RESEARCH METHODOLOGY 14

2.1 Definition of Carbon Capture, Utilisation and Storage (CCUS) 14
2.2 Technology Readiness Level (TRL) 15
2.3 Key market barriers for CCUS 17

3 INTRODUCTION 18

3.1 What is CCUS? 18
- 3.1.1 Carbon Capture 23
  - 3.1.1.1 Source Characterization 23
  - 3.1.1.2 Purification 24
  - 3.1.1.3 CO2 capture technologies 25
- 3.1.2 Carbon Utilization 28
  - 3.1.2.1 CO2 utilization pathways 29
- 3.1.3 Carbon storage 30
  - 3.1.3.1 Passive storage 30
  - 3.1.3.2 Enhanced oil recovery 31
3.2 The current Direct Air Capture (DAC) market 32
3.3 CCSUS Market map 33
3.4 Commercial CCUS facilities and projects 36
- 3.4.1 Facilities 37
  - 3.4.1.1 Operational 37
  - 3.4.1.2 Under development/construction 39
3.5 CCUS Value Chain 45
3.6 Transporting CO2 46
- 3.6.1 Methods of CO2 transport 46
  - 3.6.1.1 Pipeline 47
  - 3.6.1.2 Ship 48
  - 3.6.1.3 Road 48
  - 3.6.1.4 Rail 48
- 3.6.2 Safety 49
3.7 Costs 49
- 3.7.1 Cost of CO2 transport 51
3.8 Carbon credits 54

4 CARBON CAPTURE 55

4.1 CO2 capture from point sources 56
- 4.1.1 Transportation 57
- 4.1.2 Global point source CO2 capture capacities 57
- 4.1.3 By source 59
- 4.1.4 By endpoint 60
4.2 Main carbon capture processes 61
- 4.2.1 Materials 61
- 4.2.2 Post-combustion 63
- 4.2.3 Oxy-fuel combustion 64
- 4.2.4 Liquid or supercritical CO2: Allam-Fetvedt Cycle 65
- 4.2.5 Pre-combustion 66

5 THE DIRECT AIR CAPTURE MARKET 68

5.1 Technology description 68
- 5.1.1 Solid and liquid DAC 68
5.2 Advantages of DAC 70
5.3 Deployment 70
5.4 Point source carbon capture versus Direct Air Capture 71
5.5 Technologies 72
- 5.5.1 Solid sorbents 73
- 5.5.2 Liquid sorbents 75
- 5.5.3 Liquid solvents 76
- 5.5.4 Airflow equipment integration 77
- 5.5.5 Passive Direct Air Capture (PDAC) 77
- 5.5.6 Direct conversion 78
- 5.5.7 Co-product generation 78
- 5.5.8 Low Temperature DAC 78
- 5.5.9 Regeneration methods 78
5.6 Commercialization and plants 79
5.7 Metal-organic frameworks (MOFs) in DAC 80
5.8 DAC plants and projects-current and planned 80
5.9 Costs 87
5.10 Market challenges for DAC 92
5.11 Market prospects for direct air capture 93
5.12 Players and production 93
5.13 Co2 utilization pathways 94
5.14 Markets for DAC 96
- 5.14.1 Fuels 96
  - 5.14.1.1 Overview 96
  - 5.14.1.2 Production routes 98
  - 5.14.1.3 Methanol 99
  - 5.14.1.4 Algae based biofuels 100
  - 5.14.1.5 CO₂-fuels from solar 101
  - 5.14.1.6 Companies 102
  - 5.14.1.7 Challenges 105
- 5.14.2 Chemicals, plastics and polymers 106
  - 5.14.2.1 Overview 106
  - 5.14.2.2 Scalability 106
  - 5.14.2.3 Plastics and polymers 107
  - 5.14.2.4 Urea production 109
  - 5.14.2.5 Inert gas in semiconductor manufacturing 110
  - 5.14.2.6 Carbon nanotubes 110
  - 5.14.2.7 Companies 110
- 5.14.3 Construction materials 112
  - 5.14.3.1 Overview 112
  - 5.14.3.2 CCUS technologies 114
  - 5.14.3.3 Carbonated aggregates 116
  - 5.14.3.4 Additives during mixing 118
  - 5.14.3.5 Concrete curing 118
  - 5.14.3.6 Costs 119
  - 5.14.3.7 Companies 119
  - 5.14.3.8 Challenges 121
- 5.14.4 CO2 Utilization in Biological Yield-Boosting 122
  - 5.14.4.1 Overview 122
  - 5.14.4.2 Applications 122
  - 5.14.4.3 Companies 125
- 5.14.5 Food and feed production 126
- 5.14.6 CO₂ Utilization in Enhanced Oil Recovery 127
  - 5.14.6.1 Overview 127
  - 5.14.6.2 CO₂-EOR facilities and projects 128
5.15 Storage 131
- 5.15.1 CO2 storage sites 132
  - 5.15.1.1 Storage types for geologic CO2 storage 132
  - 5.15.1.2 Oil and gas fields 134
  - 5.15.1.3 Saline formations 135
5.15.2 Global CO2 storage capacity 138
5.15.3 Costs 139

6 COMPANY PROFILES 141 (62 company profiles)

7 REFERENCES 190

List of Tables

Table 1. Technology Readiness Level (TRL) Examples. 15
Table 2. Key market barriers for CCUS. 17
Table 3. CO2 utilization and removal pathways 20
Table 4. Approaches for capturing carbon dioxide (CO2) from point sources. 23
Table 5. CO2 capture technologies. 25
Table 6. Advantages and challenges of carbon capture technologies. 26
Table 7. Overview of commercial materials and processes utilized in carbon capture. 27
Table 8. Global commercial CCUS facilities-in operation. 37
Table 9. Global commercial CCUS facilities-under development/construction. 39
Table 10. Methods of CO2 transport. 47
Table 11. Carbon capture, transport, and storage cost per unit of CO2 49
Table 12. Estimated capital costs for commercial-scale carbon capture. 50
Table 13. Point source examples. 56
Table 14. Assessment of carbon capture materials 61
Table 15. Chemical solvents used in post-combustion. 64
Table 16. Commercially available physical solvents for pre-combustion carbon capture. 67
Table 17. Advantages and disadvantages of DAC. 69
Table 18. Advantages of DAC as a CO2 removal strategy. 70
Table 19. Companies developing airflow equipment integration with DAC. 77
Table 20. Companies developing Passive Direct Air Capture (PDAC) technologies. 77
Table 21. Companies developing regeneration methods for DAC technologies. 78
Table 22. DAC companies and technologies. 79
Table 23. DAC technology developers and production. 81
Table 24. DAC projects in development. 86
Table 25. Costs summary for DAC. 87
Table 26. Cost estimates of DAC. 90
Table 27. Challenges for DAC technology. 92
Table 28. DAC companies and technologies. 93
Table 29. Example CO2 utilization pathways. 94
Table 30. Markets for DAC. 96
Table 31. Market overview for CO2 derived fuels. 96
Table 32. Microalgae products and prices. 100
Table 33. Main Solar-Driven CO2 Conversion Approaches. 102
Table 34. Companies in CO2-derived fuel products. 102
Table 35. Commodity chemicals and fuels manufactured from CO2. 107
Table 36. CO2 utilization products developed by chemical and plastic producers. 108
Table 37. Companies in CO2-derived chemicals products. 110
Table 38. Carbon capture technologies and projects in the cement sector 114
Table 39. Companies in CO2 derived building materials. 119
Table 40. Market challenges for CO2 utilization in construction materials. 121
Table 41. Companies in CO2 Utilization in Biological Yield-Boosting. 125
Table 42. CO2 sequestering technologies and their use in food. 126
Table 43. Applications of CCS in oil and gas production. 127
Table 44. Storage and utilization of CO2. 131
Table 45. Global depleted reservoir storage projects. 133
Table 46. Global CO2 ECBM storage projects. 133
Table 47. CO2 EOR/storage projects. 134
Table 48. Global storage sites-saline aquifer projects. 136
Table 49. Global storage capacity estimates, by region. 138

List of Figures

Figure 1. Schematic of CCUS process. 18
Figure 2. Pathways for CO2 utilization and removal. 19
Figure 3. A pre-combustion capture system. 25
Figure 4. Carbon dioxide utilization and removal cycle. 29
Figure 5. Various pathways for CO2 utilization. 30
Figure 6. Example of underground carbon dioxide storage. 31
Figure 7. Carbon Capture, Utilization, & Storage (CCUS) Market Map. 35
Figure 8. CCS deployment projects, historical and to 2035. 36
Figure 9. Existing and planned CCS projects. 45
Figure 10. CCUS Value Chain. 45
Figure 11. Transport of CCS technologies. 46
Figure 12. Railroad car for liquid CO₂ transport 49
Figure 13. Estimated costs of capture of one metric ton of carbon dioxide (Co2) by sector. 51
Figure 14. Cost of CO2 transported at different flowrates 52
Figure 15. Cost estimates for long-distance CO2 transport. 53
Figure 16. CO2 capture and separation technology. 55
Figure 17. Global capacity of point-source carbon capture and storage facilities. 58
Figure 18. Global carbon capture capacity by CO2 source, 2021. 59
Figure 19. Global carbon capture capacity by CO2 source, 2030. 59
Figure 20. Global carbon capture capacity by CO2 endpoint, 2021 and 2030. 60
Figure 21. Post-combustion carbon capture process. 63
Figure 22. Postcombustion CO2 Capture in a Coal-Fired Power Plant. 64
Figure 23. Oxy-combustion carbon capture process. 65
Figure 24. Liquid or supercritical CO2 carbon capture process. 66
Figure 25. Pre-combustion carbon capture process. 67
Figure 26. CO2 captured from air using liquid and solid sorbent DAC plants, storage, and reuse. 69
Figure 27. Global CO2 capture from biomass and DAC in the Net Zero Scenario. 69
Figure 28. Potential for DAC removal versus other carbon removal methods. 71
Figure 29. DAC technologies. 72
Figure 30. Schematic of Climeworks DAC system. 73
Figure 31. Climeworks’ first commercial direct air capture (DAC) plant, based in Hinwil, Switzerland. 74
Figure 32. Flow diagram for solid sorbent DAC. 75
Figure 33. Direct air capture based on high temperature liquid sorbent by Carbon Engineering. 76
Figure 34. Global capacity of direct air capture facilities. 81
Figure 35. Global map of DAC and CCS plants. 87
Figure 36. Schematic of costs of DAC technologies. 88
Figure 37. DAC cost breakdown and comparison. 89
Figure 38. Operating costs of generic liquid and solid-based DAC systems. 91
Figure 39. Co2 utilization pathways and products. 95
Figure 40. Conversion route for CO2-derived fuels and chemical intermediates. 98
Figure 41. Conversion pathways for CO2-derived methane, methanol and diesel. 98
Figure 42. CO2 feedstock for the production of e-methanol. 99
Figure 43. Schematic illustration of (a) biophotosynthetic, (b) photothermal, (c) microbial-photoelectrochemical, (d) photosynthetic and photocatalytic (PS/PC), (e) photoelectrochemical (PEC), and (f) photovoltaic plus electrochemical (PV+EC) approaches for CO2 c 101
Figure 44. Audi synthetic fuels. 103
Figure 45. Conversion of CO2 into chemicals and fuels via different pathways. 106
Figure 46. Conversion pathways for CO2-derived polymeric materials 108
Figure 47. Conversion pathway for CO2-derived building materials. 113
Figure 48. Schematic of CCUS in cement sector. 114
Figure 49. Carbon8 Systems’ ACT process. 117
Figure 50. CO2 utilization in the Carbon Cure process. 118
Figure 51. Algal cultivation in the desert. 123
Figure 52. Example pathways for products from cyanobacteria. 124
Figure 53. Typical Flow Diagram for CO2 EOR. 128
Figure 54. Large CO2-EOR projects in different project stages by industry. 130
Figure 55. CO2 Storage Overview - Site Options 132
Figure 56. CO2 injection into a saline formation while producing brine for beneficial use. 136
Figure 57. Subsurface storage cost estimation. 140
Figure 58. Schematic of carbon capture solar project. 143
Figure 59. Carbonminer DAC technology. 148
Figure 60. Carbon Blade system. 149
Figure 61. Direct Air Capture Process. 153
Figure 62. Orca facility. 157
Figure 63. Holy Grail DAC system. 169
Figure 64. Infinitree swing method. 171
Figure 65. Audi/Krajete DAC unit. 173
Figure 66. Neustark modular plant. 176
Figure 67. 3D model of 100,000 tpa DAC plant 180
Figure 68. RepAir technology. 181
Figure 69. Skytree pilot DAC unit. 183
Figure 70. Soletair Power unit. 184

The Global Market for Direct Air Capture (DAC) 2023-2033

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Published June 2023 | 193 pages, 49 tables, 70 figures | Download table of contents

1 ABBREVIATIONS 13

2 RESEARCH METHODOLOGY 14

3 INTRODUCTION 18

4 CARBON CAPTURE 55

5 THE DIRECT AIR CAPTURE MARKET 68

6 COMPANY PROFILES 141 (62 company profiles)

7 REFERENCES 190

List of Tables

List of Figures

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