The global carbon dioxide removal (CDR) market is poised for substantial growth, with a projected CAGR of 20% from 2023 to 2030. By the end of this period, the market value is anticipated to reach approximately US$1.5 billion, reflecting the increasing urgency to combat climate change.
Addressing the Climate Crisis
To meet net-zero emissions targets and avert the dire consequences of global warming exceeding 1.5-2C, the adoption of CDR technologies is becoming imperative. Climate models suggest that achieving the goals set in the Paris Agreement is nearly impossible without robust CDR efforts. Consequently, there is growing interest and support from academia, governments, investors, businesses, and environmental organizations. Anticipated government policies, increased investment, and collaboration among stakeholders are expected to drive the expansion of the CDR market.
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