Vancouver, British Columbia, Dec. 08, 2020 (GLOBE NEWSWIRE) -- The Global Bioremediation Market is estimated to be worth USD 334.70 billion by 2027, as per the latest evaluation by Emergen Research. Concerns pertaining to hazardous wastes and finding an effective solution has become more critical. For the purposes of dealing with and monitoring contamination in order to protect the following generations from experiencing a scarcity of resources, governments of both developed and emerging economies are considering the implementation of bioremediation techniques.
The U.S. Army Corps of Engineers are deploying methods and taking initiatives for treating groundwater contaminated with explosives through bioremediation. In Washington, to break down the explosive contaminants, the Federal authority is resorting to the use of microorganisms. Rapid industrialization, coupled with the growing population in developing economies, is expected to boost the growth of the market.
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The growing levels of awareness regarding the potential scarcity of natural resources like water and oil in the near future, along with the superior safety, affordability, and efficacy of bioremediation as opposed to that of traditional techniques, are vital factors that would boost the growth of the market in the forecast years.
Key Highlights From The Report.
- In April 2020, Delaware-owned Gaia Klēn, LLC inked an agreement with Mavu Bio, the Cape Town-based company, to work towards revolutionizing the bioremediation industry by introducing top of the range eco-friendly products. The research on these products is nearing a breakthrough with a proprietary product that uses microorganisms with natural cleaning abilities.
- The demand for products in situ bioremediation technology is comparatively higher than the demand for products with ex situ bioremediation technology owing to their economic benefits. This trend is predicted to continue in the forecast duration. Most in situ bioremediation technologies widely available include composting, bio slurping and venting, natural attenuation, and microbe-assisted phytoremediation.
- Increasing government initiatives supporting the ongoing R&D activities undertaken by both private and public organizations would substantially propel the advancement of services that are part of the bioremediation market globally. In March 2019, the Government of India began the Environmental Biotechnology Program that was chiefly aimed at supporting R&D activities in the field of bioremediation. Even though wastewater treatment and soil remediation are speculated to be the key service sub-segments, the surging demand from the textile industry for the degradation of dyes might contribute to the advancement of phytoremediation treatment processes.
- North America contributed to the highest market share in 2019 and is projected to retain its market dominance in the following years. The Asia Pacific is also expected to hold a sizable market share and is estimated to develop with the fastest CAGR in the regional landscape in the forecast duration owing to the increasing urbanization and higher oil and gas consumption in several industries in the region.
- Key participants profiled in the report are Sarva Bio Remed, LLC, Probiosphere, Regenesis, Altogen Labs, Drylet LLC, InSitu Remediation Services Limited, Sumas Remediation Services, Inc., Aquatech International LLC, Ivey International, Inc., and Xylem, Inc., among others.
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For this report, Emergen Research has categorized the Global Bioremediation Market based on technology, service, and region:
- Technology Outlook (Revenue: USD Billion; 2017-2027)
- Biostimulation
- Phytoremediation
- Bioreactors
- Fungal Remediation
- Bioaugmentation
- Land-Based Treatments
- Service Outlook (Revenue: USD Billion; 2017-2027)
- Soil Remediation
- Oilfield Remediation
- Wastewater Remediation
- Others
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- Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
- North America
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