According to the current report by Emergen Research, the global bioremediation market is expected to be worth USD 334.70 billion by 2027. Rapid growth in the amount of hazardous waste and remediation of these wastes is becoming a major concern across the world. Governments of both existing and emerging economies are evaluating the pros and cons of bioremediation techniques to prioritize the monitoring and tackling of pollution problems to safeguard future generations from resource scarcity, for example, the U.S. The Army Corps of Engineers is implementing methods and taking steps with the bioremediation approach to treating explosives-contaminated groundwater. The Federal Government is using different kinds of microorganisms in order to break down volatile chemicals in Washington. Increasing industrialization rates, combined with population growth in major developed economies, are also key factors expected to drive market growth.
In addition, the rise in the level of recognition of the scarcity of natural resources, such as oil and water, over the coming years and the level of affordability, protection and efficiency of bio-remediation compared to traditional technologies are key factors responsible for market development.
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Top Companies in Bioremediation Market are:
Probiosphere, Sarva Bio Remed, LLC, Altogen Labs, Aquatech International LLC, InSitu Remediation Services Limited, Regenesis, Ivey International, Inc., Drylet LLC, Sumas Remediation Services, Inc., and Xylem, Inc., among others.
Bioremediation Market Drivers During Forecast Period:
By Regional Outlook Segment:
The North American region’s bioremediation industry held the largest market share in 2019 and is expected to maintain its dominance over the coming years. The Asia Pacific region is also projected to account for a significant market share and is expected to rise at the fastest CAGR over the forecast period due to rising urbanization, coupled with increased oil and gas consumption across the region’s various industries.
Key Highlights From The Report
- In April 2020, Gaia Klén, LLC, based in North Carolina and owned by Delaware, entered into an agreement with Mavu Bio, based in Capetown, to revolutionize the bioremediation industry with environmentally friendly goods that are top of the line. R&D is on the way to a proprietary product containing microorganisms that have the potential to clean naturally.
- At present, because of the economic advantages it has, the preference for goods fitted with in situ bioremediation technology is substantially higher than that of ex situ bioremediation technology. It is predicted that this pattern will continue over the forecast period. Natural attenuation, composting, bio-slurping and venting, and microbe-assisted phytoremediation are the majority of the commonly applied in situ bioremediation technologies.
- It is anticipated that the growing number of government initiatives to help ongoing R&D activities of various private and public bodies would significantly improve the growth of services relevant to the global bioremediation industry. The Government of India, for instance, launched the Environmental Biotechnology Program in March 2019, which primarily focuses on supporting R&D activities in the field of bioremediation. The increasing demand for dye degradation from the textile industry is likely to account for the accelerating growth of phytoremediation treatment processes, while soil remediation and wastewater treatment are expected to remain the most prominent service forms.
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For the purpose of this report, Emergen Research has segmented the global bioremediation market based on technology, services, and region
Technology Outlook (Revenue: USD Billion; 2017-2027)
- Fungal Remediation
- Land-Based Treatment
Services Outlook (Revenue: USD Billion; 2017-2027)
- Soil Remediation
- Wastewater Remediation
- Oilfield Remediation
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Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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