Global Carbon Dioxide Removal Market Size Expected to Reach $2.54 Billion By 2033 as Climate Change Concerns Grow

PALM BEACH, Fla., Sept. 24, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The carbon dioxide removal market has grown rapidly with the developments in the chemical domain. This industry mainly deals with providing solutions for removing C02 from the environment using natural and artificial methods. The C02 removal strategy is mostly integrated into many climate policies, as CO2 is an important element of climate change. CDR includes several methods that are mainly used on land or in aquatic systems. Land-based methods consist of afforestation, reforestation, and other agricultural practices. The water-based methods include ocean alkalinity enhancement, ocean fertilization, wetland restoration, and some blue carbon approaches. There are several products that are used in the CDR process that mainly include Biochar, Direct Air Capture (DAC), Enhanced/Carbon Mineralization, Ocean Alkalinization, BECCS, Microalgae, and some others. The CDR mainly finds applications in the technology and finance sectors. This industry is expected to grow exponentially with the growth in chemical industries. A report from Precedence Research said: “The global carbon dioxide removal market size was USD 638.73 million in 2023, calculated at USD $733.52 million in 2024 and is expected to reach around USD $2,548.29 million by 2033. The market is expanding at a solid CAGR of 14.84% over the forecast period 2024 to 2033. The rising awareness of reducing CO2 emissions across the world is driving the growth of the carbon dioxide removal market.” Active companies in the markets this week include: BluSky Carbon Inc. (CSE: BSKY) (OTCQB: BSKCF), Occidental Petroleum Corporation (NYSE: OXY), Arq, Inc. (NASDAQ: ARQ), Gevo, Inc. (NASDAQ: GEVO), Bloom Energy Corporation (NYSE: BE).