Chicago, Nov. 14, 2022 (GLOBE NEWSWIRE) -- The report "Environmental Remediation Market by Environmental Medium (Soil and Groundwater), Technology (Bioremediation, Pump & Treat, Soil Vapor Extraction, Chemical Treatment), Site Type, Application and Region – Global Forecast 2027", The key factors driving the growth of the environmental remediation market are regulatory frameworks, growing focus on development of environment-friendly industries, and rapid population growth and industrialization in developing countries.
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“[262 Pages Report] The Environmental Remediation market is projected to grow from USD 109.3 billion in 2022 to USD 163.4 billion by 2027; it is expected to grow at a CAGR of 8.4% from 2022 to 2027.”
Key players in the Environmental Remediation Industry
- Associates (a WSP Company) (Canada),
- Clean Harbors Inc. (US), AECOM (US),
- Jacobs (US), Tetra Tech (US),
- DEME NV (Belgium), BRISEA Group, Inc. (BRISEA) (US),
- ENTACT, LLC (US), Terra Systems (US),
- Engineering and Maintenance Solutions (EMS) (Australia),
- HDR, Inc. (US) among others
Golder Associates (a WSP Company) offers different type of services, such as construction management services, which includes ground improvement, water resources, civil and landfill, industrial process, and environmental remediation services; engineering services that cover ground engineering, pipeline systems, dams and hydropower, and waste management services; environmental and social assessment services that comprise environmental and social impact assessment and ecological services; and environmental management and compliance services, which include atmospheric, human health and toxicology, energy, carbon and climate, sustainability, and contaminant site investigation and clean up services. Golder specialists have been continuously working along with peers from public and private entities to find the right solution to remediate soil containing Per- and Polyfluoroalkyl Substances (PFAS). The company also focuses on water services, including water and wastewater treatment, coastal and marine, groundwater, and surface water and hydrology services.
“Browse in-depth TOC on " Environmental Remediation Market Size"
205– Tables
60 – Figures
262 – Pages
Clean Harbors Inc. is one of the leading providers of environment, energy, and industrial services to commercial, industrial, and automotive customers. It is also one of the leading re-refiners and recyclers of used oil. It has more than 70 offices in over 40 countries across the world. The company operates its business via the following segments: Environmental Services, Safety-Kleen Sustainability Solutions, and Corporate Items. Environmental Services offer a wide variety of vertically integrated hazardous and non-hazardous material management services. The companys recycling, incineration, landfill, wastewater, and other treatment facilities provide environmental services, along with collection, packaging, transportation, recycling, treatment, and disposal options. Furthermore, Clean Harbors administers more than 100 hazardous waste disposal facilities.
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Environmental Remediation Market Share Dynamics
Driver: Regulatory frameworks are primary pillars of remediation market
Lightly regulated and unregulated emissions from industrial activities, as well as the disposal and management of wastes, particularly toxic industrial wastes, are all major contributors to environmental harm, including previous land and water contamination issues. Most industrialized economies currently struggle with land and water contamination issues, but a significant increase in contamination in the future is not anticipated due to the maturity of industrial operations and regulations. Regulations and their enforcement are one of the main factors driving remediation work; therefore, shifts or anticipated shifts in regulatory focus will significantly impact patterns in demand for remediation services. Remediation services are predicted to be more in demand in countries where there is an increase in regulatory focus or government spending on pollution management, public awareness of or interest in environmental issues, and demand for brownfield cleanup due to planned redevelopment.
For instance, the major laws and guidelines for managing contamination in the US will continue to be RCRA, CERCLA, and the Superfund Act. Regulations are evolving because of improvements made to make acting easier or because of new information on newly discovered and emerging pollutants such as PFOAs. In addition to soil pollution, for improvement efforts for asbestos and coal mines, the Korean Ministry of Environment is investigating 1,300 abandoned metal mines between 2014 and 2023 which will create a substantial need for remediation services in the country. It is anticipated that demand for remediation solutions will continue to rise as a result of regulation. The need for restoration of abandoned mines and their surroundings may rise in the future as the Korean public becomes more conscious of environmental and health regulations.
Restraint: High Cost of Equipment
During land redevelopment and remediation services, many bulk materials handling equipment are required to move the hazardous or toxic waste. These equipment, such as excavators, loaders, dumpers, and trucks among others, are very cost intensive even when procured on rental basis. Thus, a heavy investment towards supporting yet very necessary equipment is required in completing a remediation project.
Opportunity: Development of new remediation techniques
In recent years, new oxidation techniques that don't create sludge have shown to be quite effective at cleaning up dirty water or wastewater. The panoremediation method, which employs nanoparticles for remediation, streamlines the processes for locating and removing environmental contamination. The development of low-cost, simple-to-use, and miniature devices for the detection of a variety of environmental toxins uses nanomaterials with analytical techniques. They also hold great promise for technologies that purify contaminated sediment, soil, and water. Advanced phytoremediation is a cutting-edge environmental technology that is being used to clean up contaminated locations in Canada. The market for environmental remediation will grow as a result of the development of such technologies.
Challenge: Complex sites have technical and non-technical challenges
Even at simple locations, remediation is necessarily challenging. However, complex sites might present both technical and non-technical difficulties, making it difficult for corrective measures to achieve site goals or switch to long-term management within an acceptable amount of time.
Technical challenges include geologic conditions such as geologic heterogeneity flow paths, faults, fractured bedrock, karst geology, and low‑permeability media; hydrogeologic conditions such as extreme groundwater velocities, deep groundwater contamination, fluctuating groundwater levels, and groundwater interactions and impacted sediment; geochemical conditions such as extreme geochemistry and temperatures; contaminant‑related conditions such as light or dense nonaqueous phase liquids (LNAPL or DNAPL), and recalcitrant contaminants; large‑scale site challenges include location & extent of contamination, number, type and proximity of receptors, and extensive plumes.
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