Global Direct Air Carbon Capture Technology Market
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Global Direct Air Carbon Capture Technology Market was valued at USD xx Mn in 2019 and is expected to reach USD xx Mn by 2027 at a CAGR of 4.3%over the forecast period 2020-2027.
The report covers an in-depth analysis of COVID 19 pandemic impact on Global Direct Air Carbon Capture Technology Market by region and on the key players’ revenue affected till July 2020 and expected short term and long-term impact on the market.
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Direct Air Carbon Capture Technology Market overview
The global adoption of direct carbon technology is rising as governments are coming up with supportive regulations for curbing toxic chemicals, other hazardous pollution, and there is a focus towards achieving a green & clean environment. The direct air carbon capture technology is used for the purification of hazardous CO2 air. It uses precise filters and large fans capture CO2 from the atmosphere air. In this process, ambient air is passed through a filter with help of the chemical absorbent and it produces CO2 that could be stored. Also, these technology used in the production of fuels, chemicals and building materials. Compared to other Negative Emissions Technologies (NETs), such as for example Bioenergy with Carbon Capture and Storage (BECCS), the Direct Air Carbon units have minimal land requirement.
Direct Air Carbon Capture Technology Market Dynamics.
The global emission of carbon dioxide and greenhouse gases is increasing at a rapid pace as a result depletion of the ozone layer and climate change causes severe damage to the environments. Besides, increasing consumption of fossils fuels in power generation, cement, and steel as the energy demand is increasing at a rapid pace. These factors have made aggressive adoptions of direct air carbon technology for the removal of existing large scale carbon dioxide (C02). Initiative taken by various countries from 196 parties in Paris Agreement to control the global warming issues to combat climate change and adapt to its effects has built many lucrative opportunities for the direct air carbon capture technology.
Research & development activities coupled with technological advancement and constant innovations in Direct Air Carbon Capture Technology are leading to a surge in market growth. The large scale productions plants are implementing and constructing new production plants that run their processing operations on renewable energy. This has built many opportunities for the direct air carbon capture technology market.
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Last Update : 22 May 2021 7:58 AM
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