Boston, April 24, 2025 (GLOBE NEWSWIRE) — BCC Research reveals in its new report, Global Carbon Dioxide Removals (CDR) Market, the market for CDRs is grow from $3.4 billion in 2024 to $25.0 billion by 2029, at a compound annual growth rate (CAGR) of 49.0%. North America holds the highest share in this soaring market due to the presence of leading market players, robust technology infrastructure and a surge in demand for CDR technologies.
This comprehensive report analyzes the global CDR market by technology, buyers and regions, providing market size in value ($ millions) and volume (thousand tons). It covers key players, emerging technologies like biochar, direct air capture (DAC), BECCS and ocean alkalinization, while specifically excluding carbon capture, utilization, and storage (CCUS) methods like post-combustion and oxy-fuel combustion.
Factors Driving the Market:
- Government funding for carbon removal projects: Government funding for carbon removal projects supports the development and scaling of technologies to capture and store CO₂, helping to combat climate change. These investments aim to accelerate progress toward global carbon neutrality goals.
- Impact of stricter carbon regulations: Stricter carbon regulations drive businesses to adopt cleaner technologies and reduce emissions, promoting environmental sustainability. They also increase the demand for carbon removal solutions to meet compliance targets.
- Increasing demand for CCUS technologies: The demand for CCUS technologies is growing as industries seek ways to capture, use, and store CO₂ to meet emission reduction goals. These solutions play a key role in achieving global climate targets.
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Report Synopsis
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