1. | EXECUTIVE SUMMARY |
1.1. | Why carbon dioxide removal (CDR)? |
1.2. | What is CDR and how is it different from CCUS? |
1.3. | The CDR technologies covered in this report (1/2) |
1.4. | The CDR technologies covered in this report (2/2) |
1.5. | Carbon dioxide removal technology benchmarking |
1.6. | The CDR business model and its challenges: carbon credits |
1.7. | Prices of CDR credits |
1.8. | The state of CDR in the voluntary carbon market |
1.9. | Shifting buyer preferences for durable CDR in carbon credit markets |
1.10. | Carbon credit market sizes |
1.11. | What is needed to further develop the CDR sector? |
1.12. | The potential of DACCS as a CDR solution |
1.13. | The DACCS market is nascent but growing |
1.14. | CO₂ capture/separation mechanisms in DAC |
1.15. | Challenges associated with DAC technology |
1.16. | DACCS: key takeaways |
1.17. | Biomass with carbon removal and storage (BiCRS) |
1.18. | The status and outlook of BECCS |
1.19. | The challenges of BECCS |
1.20. | Biochar: key takeaways |
1.21. | Afforestation and reforestation: key takeaways |
1.22. | Mineralization: key takeaways |
1.23. | Ocean-based NETs |
1.24. | Ocean-based CDR: key takeaways |
1.25. | Carbon dioxide removal capacity forecast by technology (million metric tons of CO₂ per year), 2024-2044 |
1.26. | Carbon dioxide removal annual revenue forecast by technology (billion US$), 2024-2044 |
1.27. | Carbon dioxide removal market forecast, 2024-2044: discussion |
1.28. | Carbon dioxide removal: key takeaways |
2. | INTRODUCTION |
2.1. | Introduction and general analysis |
2.1.1. | What is carbon dioxide removal (CDR)? |
2.1.2. | Description of the main CDR methods |
2.1.3. | Why carbon dioxide removal (CDR)? |
2.1.4. | What is the difference between CDR and CCUS? |
2.1.5. | High-quality carbon removals: durability, permanence, additionality |
2.1.6. | Technology Readiness Level (TRL): Carbon dioxide removal methods |
2.1.7. | Carbon dioxide removal technology benchmarking |
2.1.8. | Status and potential of CDR technologies |
2.1.9. | Alternative revenue streams improve economic viability of CDR technologies |
2.1.10. | Geological storage is not the only permanent destination for CO₂ |
2.1.11. | Engineered carbon dioxide removal value chain |
2.1.12. | Monitoring, reporting, and verification of CDR |
2.1.13. | Potential role of policy in CDR deployment |
2.1.14. | CDR: deferring the problem? |
2.1.15. | What is needed to further develop the CDR sector? |
2.1.16. | CDR market traction in 2023 |
2.1.17. | The Xprize Carbon Removal |
2.2. | Carbon credit markets and the status of CDR credits |
2.2.1. | Carbon pricing and carbon markets |
2.2.2. | Compliance carbon pricing mechanisms across the globe |
2.2.3. | What is the price of CO₂ in global carbon pricing mechanisms? |
2.2.4. | What is a carbon credit? |
2.2.5. | Carbon removal vs carbon avoidance offsetting |
2.2.6. | Carbon removal vs emission reduction offsets (2/2) |
2.2.7. | How are carbon credits certified? |
2.2.8. | Carbon crediting programs |
2.2.9. | The role of carbon registries in the credit market |
2.2.10. | Measurement, Reporting, and Verification (MRV) of Carbon Credits |
2.2.11. | Quality of carbon credits |
2.2.12. | How are voluntary carbon credits purchased? |
2.2.13. | Advanced market commitment in CDR |
2.2.14. | Interaction between compliance markets and voluntary markets (geographical) |
2.2.15. | Interaction between compliance markets and voluntary markets (sectoral) |
2.2.16. | The state of CDR in compliance markets |
2.2.17. | The state of CDR in the voluntary carbon market |
2.2.18. | Shifting buyer preferences for durable CDR in carbon credit markets |
2.2.19. | Biggest durable carbon removal buyers |
2.2.20. | Pre-purchases still dominate the durable CDR space |
2.2.21. | Prices of CDR credits |
2.2.22. | How expensive were durable carbon removals in 2023? |
2.2.23. | Current carbon credit prices by company and technology |
2.2.24. | Carbon market sizes |
2.2.25. | Which durable CDR technologies had the largest market share in 2023? |
2.2.26. | The carbon removal market players |
2.2.27. | Challenges in today's carbon market |
2.2.28. | CDR technologies: key takeaways |
3. | DIRECT AIR CARBON CAPTURE AND STORAGE (DACCS) |
3.1. | Introduction to direct air capture (DAC) |
3.1.1. | What is direct air capture (DAC)? |
3.1.2. | Why DACCS as a CDR solution? |
3.1.3. | Current status of DACCS |
3.1.4. | Momentum: private investments in DAC |
3.1.5. | Momentum: public investment and policy support for DAC |
3.1.6. | Momentum: DAC-specific regulation |
3.1.7. | DAC land requirement is an advantage |
3.1.8. | DAC vs point-source carbon capture |
3.2. | DAC technologies |
3.2.1. | CO₂ capture/separation mechanisms in DAC |
3.2.2. | Direct air capture technologies |
3.2.3. | DAC solid sorbent swing adsorption processes (1/2) |
3.2.4. | DAC solid sorbent swing adsorption processes (2/2) |
3.2.5. | Electro-swing adsorption of CO₂ for DAC |
3.2.6. | Solid sorbents in DAC |
3.2.7. | Emerging solid sorbent materials for DAC |
3.2.8. | Liquid solvent-based DAC |
3.2.9. | Process flow diagram of S-DAC |
3.2.10. | Process flow diagram of L-DAC |
3.2.11. | Process flow diagram of CaO looping |
3.2.12. | Solid sorbent- vs liquid solvent-based DAC |
3.2.13. | Electricity and heat sources |
3.2.14. | Requirements to capture 1 Mt of CO₂ per year |
3.3. | DAC companies |
3.3.1. | DAC companies by country |
3.3.2. | Direct air capture company landscape |
3.3.3. | A comparison of the three DAC pioneers |
3.3.4. | TRLs of direct air capture players |
3.3.5. | Climeworks |
3.3.6. | Carbon Engineering |
3.3.7. | Global Thermostat |
3.3.8. | Heirloom |
3.3.9. | DACCS carbon credit sales by company |
3.4. | DAC challenges |
3.4.1. | Challenges associated with DAC technology (1/2) |
3.4.2. | Challenges associated with DAC technology (2/2) |
3.4.3. | Oil and gas sector involvement in DAC |
3.4.4. | DACCS co-location with geothermal energy |
3.4.5. | Will DAC be deployed in time to make a difference? |
3.4.6. | What can DAC learn from the wind and solar industries' scale-up? |
3.4.7. | What is needed for DAC to achieve the gigatonne capacity by 2050? |
3.5. | DAC economics |
3.5.1. | The economics of DAC |
3.5.2. | The CAPEX of DAC |
3.5.3. | The CAPEX of DAC: sub-system contribution |
3.5.4. | The OPEX of DAC |
3.5.5. | Overall capture cost of DAC (1/2) |
3.5.6. | Overall capture cost of DAC (2/2) |
3.5.7. | Component specific capture cost contributions for DACCS |
3.5.8. | Financing DAC |
3.5.9. | DACCS SWOT analysis |
3.5.10. | DACCS: summary |
3.5.11. | DACCS: key takeaways |
4. | BIOMASS WITH CARBON REMOVAL AND STORAGE (BICRS) |
4.1. | Introduction |
4.1.1. | Biomass with carbon removal and storage (BiCRS) |
4.1.2. | BiCRS possible feedstocks |
4.1.3. | BiCRS conversion pathways |
4.1.4. | CO₂ capture technologies for BECCS |
4.1.5. | The potential for BiCRS goes beyond BECCS |
4.1.6. | TRL of biomass conversion processes and products by feedstock |
4.1.7. | TRL of biomass conversion by feedstock: lignocellulose |
4.1.8. | TRL of biomass conversion by feedstock: organic wastes and oil crops/waste |
4.1.9. | TRL of biomass conversion by feedstock: algae and sugar/starch |
4.1.10. | TRL of biomass conversion: discussion |
4.1.11. | BiCRS Technological Challenges |
4.1.12. | The cost of BiCRS as it scales |
4.1.13. | Considerations in large-scale BiCRS deployment |
4.2. | Bioenergy with carbon capture and storage (BECCS) |
4.2.1. | Bioenergy with carbon capture and storage (BECCS) |
4.2.2. | Point source capture technologies |
4.2.3. | The economics of BECCS |
4.2.4. | Opportunities in BECCS: heat generation |
4.2.5. | Opportunities in BECCS: waste-to-energy |
4.2.6. | BECCS current status |
4.2.7. | Trends in BECCUS projects (1/2) |
4.2.8. | Trends in BECCUS projects (2/2) |
4.2.9. | The challenges of BECCS |
4.2.10. | What is the business model for BECCS? |
4.2.11. | BECCS carbon credits |
4.2.12. | The energy and carbon efficiency of BECCS |
4.2.13. | Importance of regrowth rates on carbon accounting for biogenic emissions |
4.2.14. | Consideration of land-use change casts doubt on sustainability of BECCS |
4.2.15. | Is BECCS sustainable? |
4.2.16. | Network connecting bioethanol plants for BECCS |
4.2.17. | BECCS for blue hydrogen production with carbon removal |
4.2.18. | Hydrogen from biomass gasification: Mote case study |
4.2.19. | BECCS Outlook: Government support and large-scale demonstrations needed |
4.3. | Biochar |
4.3.1. | What is biochar? |
4.3.2. | How is biochar produced? (1/2) |
4.3.3. | How is biochar produced? (2/2) |
4.3.4. | Biochar feedstocks |
4.3.5. | Permanence of biochar carbon removal |
4.3.6. | Biochar applications |
4.3.7. | Economic considerations in biochar production (1) |
4.3.8. | Economic considerations in biochar production (2) |
4.3.9. | Biochar: market and business model |
4.3.10. | The state of the biochar market |
4.3.11. | The state of the biochar CDR market |
4.3.12. | Key players in biochar by technology readiness level |
4.3.13. | Biochar legislation and certification |
4.3.14. | Drivers and barriers to biochar market uptake |
4.3.15. | Biomass pyrolysis: combining H2 production with biochar production |
4.3.16. | Additionality of biochar carbon removal |
4.3.17. | Biochar: key takeaways |
4.4. | Emerging BiCRS solutions |
4.4.1. | Emerging biocarbon sequestration: steel and concrete |
4.4.2. | Bio-oil geological storage for CDR |
4.4.3. | Bio-oil-based CDR: pros and cons |
4.4.4. | Biomass burial for CO₂ removal |
4.4.5. | Graphyte |
4.4.6. | Bio-based construction materials as a CDR tool |
4.4.7. | BiCRS Value Chain |
4.4.8. | BiCRS: key takeaways |
5. | AFFORESTATION/REFORESTATION |
5.1. | What are nature-based CDR approaches? |
5.2. | Why land-based carbon dioxide removal? |
5.3. | The CDR potential of afforestation and reforestation |
5.4. | The case for and against A/R for climate mitigation |
5.5. | Technologies in A/R: remote sensing |
5.6. | Robotics: forestry mapping with drones |
5.7. | Company landscape: robotics in afforestation/reforestation |
5.8. | Automation in forest fire detection |
5.9. | Status of forest carbon removal projects |
5.10. | "Just plant more trees!" - sustainability and greenwashing considerations |
5.11. | Comparing A/R and BECCS solutions |
5.12. | Afforestation and reforestation: key takeaways |
6. | SOIL CARBON SEQUESTRATION |
6.1. | What is soil carbon sequestration (SCS)? |
6.2. | The soil carbon sequestration potential is vast |
6.3. | Agricultural management practices to improve soil carbon sequestration |
6.4. | Companies using microbial inoculation for soil carbon sequestration |
6.5. | Additionality, measurement, and permanency of soil carbon is in doubt |
6.6. | Challenges in SCS deployment |
6.7. | The soil carbon sequestration value chain |
6.8. | The soil carbon sequestration value chain: the roles |
6.9. | Marketplaces for SCS-based CDR credits |
6.10. | Soil carbon sequestration pros and cons |
6.11. | Soil carbon sequestration: key takeaways |
7. | MINERALIZATION-BASED CDR |
7.1. | CO₂ mineralization is key for CDR |
7.2. | Ex situ mineralization CDR methods |
7.3. | Source materials for ex situ mineralization |
7.4. | Ex situ carbonation of mineral wastes |
7.5. | Carbon dioxide storage in CO₂-derived concrete |
7.6. | CO₂-derived concrete: commercial landscape |
7.7. | R&D developments in ex situ carbonation of mining wastes |
7.8. | Oxide looping: Mineralization in DAC |
7.9. | Enhanced weathering |
7.10. | Enhanced weathering attributes |
7.11. | MRV in Enhanced Rock Weathering |
7.12. | Enhanced weathering commercial landscape |
7.13. | Enhanced rock weathering CDR market |
7.14. | Mineralization: key takeaways |
8. | OCEAN-BASED CARBON DIOXIDE REMOVAL |
8.1. | Introduction |
8.1.1. | Ocean pumps continuously pull CO₂ from the atmosphere into the ocean |
8.1.2. | Ocean-based CDR methods |
8.1.3. | Definitions of ocean-based CDR technologies |
8.1.4. | Why ocean-based CDR? |
8.1.5. | Technology Readiness Level (TRL) chart for ocean-based CDR |
8.1.6. | Benchmarking of ocean-based CDR methods |
8.1.7. | Key players in ocean-based CDR |
8.2. | Ocean-based CDR: abiotic methods |
8.2.1. | Ocean alkalinity enhancement (OAE) |
8.2.2. | Electrochemical ocean alkalinity enhancement |
8.2.3. | Ocean alkalinity enhancement status |
8.2.4. | Direct ocean capture |
8.2.5. | State of technology in direct ocean capture |
8.2.6. | Future direct ocean capture technologies |
8.2.7. | Artificial downwelling |
8.3. | Ocean-based CDR: biotic methods |
8.3.1. | Coastal blue carbon |
8.3.2. | Status of coastal blue carbon credits in the voluntary carbon markets |
8.3.3. | Algal cultivation |
8.3.4. | Ocean fertilization |
8.3.5. | Several ocean fertilization start-ups have failed |
8.3.6. | Artificial upwelling |
8.3.7. | The governance challenge in large-scale deployment of ocean CDR |
8.3.8. | MRV for marine CDR |
8.3.9. | Ocean-based CDR Funding |
8.3.10. | Price of ocean-based CDR carbon credits |
8.3.11. | Ocean-based CDR: key takeaways |
9. | CDR MARKET FORECASTS |
9.1. | Forecast scope: durable, engineered removals |
9.2. | Forecast scope: nature-based approaches |
9.3. | Overall Carbon Dioxide Removal Forecast Methodology/Scope |
9.4. | Carbon dioxide removal capacity forecast by technology (million metric tons of CO₂ per year), 2024-2044 |
9.5. | Data table for carbon dioxide removal capacity forecast by technology (million metric tons of CO₂ per year), 2024-2044 |
9.6. | Carbon dioxide removal annual revenue forecast by technology (billion US$), 2024-2044 |
9.7. | Data table for carbon dioxide removal annual revenue forecast by technology (million US$), 2024-2044 |
9.8. | Carbon dioxide removal market forecast, 2024-2044: discussion |
9.9. | The evolution of the durable CDR market |
9.10. | Changes since the previous IDTechEx CDR forecasts (1/2) |
9.11. | Changes since the previous IDTechEx CDR forecasts (1/2) |
9.12. | DACCS: Forecast methodology |
9.13. | DACCS carbon removal capacity forecast (million metric tons of CO₂ per year), 2024-2044, base case |
9.14. | DACCS carbon removal capacity forecast (million metric tons of CO₂ per year), 2030-2044, optimistic case |
9.15. | DACCS carbon credit revenue forecast (million US$), 2024-2044 |
9.16. | DACCS: Forecast discussion |
9.17. | BECCS: Forecast methodology |
9.18. | Biochar, bio-oil, and biomass burial: Forecast methodology |
9.19. | BECCS carbon removal capacity forecast (million metric tons of CO₂ per year) 2024-2044 |
9.20. | Biochar and biomass burial carbon removal capacity forecast (million metric tons of CO₂ per year) 2024-2044 |
9.21. | BiCRS carbon credit revenue forecast (million US$), 2024-2044 |
9.22. | BECCS: Forecast discussion |
9.23. | Biochar and biomass burial: Forecast discussion |
9.24. | Mineralization carbon removal capacity forecast (million metric tons of CO₂ per year) 2024-2044 |
9.25. | Mineralization carbon credit revenue forecast (million US$), 2024-2044 |
9.26. | Mineralization CDR: Forecast methodology and discussion |
9.27. | Ocean-based CDR: Forecast methodology |
9.28. | Ocean-based carbon removal capacity forecast (million metric tons of CO₂ per year) 2024-2044 |
9.29. | Ocean-based carbon credit revenue forecast (million US$), 2024-2044 |
9.30. | Ocean-based CDR: Forecast discussion |
10. | APPENDIX |
10.1. | Direct air capture companies |
10.2. | Biochar companies (1/2) |
10.3. | Biochar companies (2/2) |
10.4. | Large-scale DACCS Projects (announced and operational) |
10.5. | Large-scale BECCS Projects announced and operational (1/5) |
10.6. | Large-scale BECCS Projects announced and operational (2/5) |
10.7. | Large-scale BECCS Projects announced and operational (3/5) |
10.8. | Large-scale BECCS Projects announced and operational (4/5) |
10.9. | Large-scale BECCS Projects announced and operational (5/5) |
11. | LIST OF COMPANY PROFILES |
11.1. | 3R-BioPhosphate |
11.2. | 8 Rivers |
11.3. | Airex Energy |
11.4. | AspiraDAC: MOF-Based DAC Technology Using Solar Power |
11.5. | BC Biocarbon |
11.6. | Cambridge Carbon Capture |
11.7. | CapChar |
11.8. | Carbo Culture |
11.9. | Carbofex |
11.10. | Carbogenics |
11.11. | Carbon Engineering |
11.12. | CarbonBlue |
11.13. | CarbonCapture Inc. |
11.14. | CarbonCure |
11.15. | Carbyon |
11.16. | Charm Industrial |
11.17. | Climeworks |
11.18. | Equatic |
11.19. | Global Thermostat |
11.20. | Graphyte |
11.21. | Grassroots Biochar |
11.22. | GreenCap Solutions |
11.23. | Heirloom |
11.24. | Mercurius Biorefining |
11.25. | Mission Zero Technologies |
11.26. | Mosaic Materials: MOF-Based DAC Technology |
11.27. | Myno Carbon |
11.28. | NeoCarbon |
11.29. | neustark |
11.30. | NovoMOF |
11.31. | Noya |
11.32. | O.C.O Technology |
11.33. | PyroCCS |
11.34. | Seaweed Generation |
11.35. | Skytree |
11.36. | Soletair Power |
11.37. | Sustaera |
11.38. | Svante |
11.39. | Svante: MOF-Based Carbon Capture |
11.40. | Takachar |
11.41. | Verdox |
11.42. | Vycarb |
11.43. | WasteX |