The global Bioremediation Market will be worth USD 334.70 billion by 2027, according to a current analysis by Emergen Research. The increase in this market can be attributed to the stringent environmental regulations and the need for cleaner technologies for effluent treatment.
Technological advancement and stringent environmental regulations are projected to be the key driving factors for the growth of the bioremediation market. Bioremediation is a process used to treat contaminated media, including water, soil, and sediment, by altering environmental conditions to accelerate the natural degradation of contaminants into innocuous products. Contaminants commonly treated using this method include petroleum hydrocarbons, chlorinated solvents, pesticides, and wood preservatives. Bioremediation can be employed as either a primary or complementary technology to other remediation technologies such as phytoremediation, bioventing, and landfarming.
Rapid growth in the quantity of hazardous wastes and increase in awareness regarding the ill-effects of these wastes are propelling the bioremediation market. In addition, stringent government regulations regarding hazardous waste disposal are also driving the bioremediation market. However, high initial investment and competition from traditional technologies are restraining the growth of this market.
The use of enzymes for bioremediation is a new trend in the market. The enzymes help in breaking down the complex molecules into simpler ones, which can be easily degraded. Enzymes are being used for oil spill cleanup and sewage treatment.
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Top players are focusing on various strategies such as product launches, partnerships, collaborations, and mergers and acquisitions to stay competitive in the market. For instance, in January 2019, BASF SE (Germany) and Novozymes A/S (Denmark) entered into a strategic partnership to develop new microbial solutions for the removal of hazardous substances from water. Under this partnership, both companies will jointly invest in research and development activities related to microorganisms that can break down organic pollutants such as pharmaceuticals and personal care products. Moreover, both companies will also focus on providing efficient solutions for the treatment of wastewater from industries such as textiles, food and beverages, and oil and gas.
Key Highlights From The Report
- In 2020, Novozymes (Denmark) launched its new product named Envirofit, a microbial solution designed to help manage environmental issues such as food waste management and oil spillage.
- Also, in September 2020, SUEZ (France) acquired CirTec Environmental Solutions GmbH (Germany), a specialist in sewage sludge digestion. This acquisition will help SUEZ to expand its wastewater treatment solutions portfolio.
- Based on technology, the global bioremediation market is classified into thermal desorption, phytoremediation, bioaugmentation, solidification/stabilization, and others (composting and landfarming). The solidification/stabilization technology segment captured the largest market share in 2018. This can be attributed to the wide applicability of solidification/stabilization technology in various industries such as chemicals, oil & gas, and mining among others. The bioaugmentation technology segment is projected to grow at the fastest CAGR during the forecast period owing to the introduction of new products in this market.
- Based on contaminants, the global bioremediation market is classified into hydrocarbons, chlorinated solvents, explosives/munitions, dyes & pigments, and others (pesticides & herbicides and heavy metals). The hydrocarbons segment captured the largest market share in 2018. This can be attributed to the increasing awareness about environmental pollution caused by oil spills and other industrial activities. The chlorinated solvents segment is projected to grow at the fastest CAGR during the forecast period owing to the stringent regulations regarding environmental pollution.
- Based on geography, the bioremediation market is analyzed across North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. In 2018, North America captured the largest market share owing to the presence of major players such as DuPont (US), Thermo Fisher Scientific Inc. (US), and Ecolab Inc. (US) in this region.
- The bioremediation market in Asia Pacific is projected to grow at the fastest CAGR during the forecast period owing to the increasing awareness about environmental pollution and stringent government regulations regarding the same.
- Key participants 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.
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For the purpose of this report, Emergen Research has segmented into the global Bioremediation Market on the technology, services and region:
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Fungal Remediation
- Land-Based Treatments
Services Outlook (Revenue, USD Billion; 2017-2027)
- Soil Remediation
- Wastewater Remediation
- Oilfield Remediation
Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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