The global carbon removal technology market is projected to grow from US$733.77 million in 2024 to over US$2.1 billion by 2034. This growth is driven by the scaling of Direct Air Capture (DAC) facilities, mineralization projects, and increased corporate procurement from companies like Microsoft and Shopify. Key industry developments include the expansion of Occidental's 1PointFive projects in Texas and new modular DAC systems from Climeworks. The market is shifting toward durable, engineered carbon storage solutions to meet strict net-zero and Scope 3 decarbonization targets.
