This is the justification for 24-bit audio... is there a reason why 24 bits is not enough here?
If you're capturing audio sources directly, you'd use something like a 24-bit ADC, which you can find easily enough. The "raw" output of the ADC is 24 bits.
If you're doing intermediate processing in your DAW, then the DAW is using single-precision floats (or possibly double), which cannot be losslessly converted either to 32 bit or 24 bit integers, so how would you choose the right format to store? It seems to me that you'd either store the original floating-point data, or you'd perform some kind of lossy conversion to a high-quality archival format... but if you do that, isn't 24 bits good enough? You're quantizing either way, and at 24 bits, you can have plenty of headroom and noise floor at the same time. Loads, even.