Bioremediation Technology and Services Market
Number of pages: 100 | Report Format: PDF | Published date: 27 January, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market size value in 2021 |
US$ 12.7 billion |
|
Revenue forecast in 2030 |
US$ 24.96 billion |
|
Growth Rate |
CAGR of 7.8% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
|
Historical Year |
2020 |
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Segments covered |
Type, Technology, Services, and Region |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth+ Reports, the global bioremediation technology and services market was valued at US$ 12.7 billion in 2021. The market is expected to witness a CAGR of 7.8 % from 2022 to 2030.
Market Fundamentals
Bioremediation technology and services have become increasingly popular in recent years due to their effectiveness in treating contaminated sites. Bioremediation technology uses natural bacteria and fungi to break down pollutants in soil, water, and air, making it an ideal solution for sites with hazardous materials. Specialized companies provide bioremediation services with expertise in the field. They can provide detailed assessments of the site, design a treatment plan, and monitor the progress of the remediation process. Furthermore, these services can be tailored to the specific needs of the contaminated site, ensuring the best possible results.
The employment of microorganisms to aid in the neutralization or removal of different toxins through the utilization of waste is known as bioremediation. Bioremediation also employs organisms found in nature that degrade hazardous pollutants into harmful chemicals. Because it permits trash to be recycled after toxins have been neutralized or eliminated, bioremediation is crucial in places where chemicals are not employed. Soil remediation lowers pollutant levels in the soil. When the concentration of hydrocarbons in the soil grows and affects human health, soil remediation is necessary. Water pollution is traced and monitored via wastewater treatment. In biological wastewater treatment, common physiochemical and treatment methods are applied. The governments of various nations have been focused on several new programs and efforts to address different pollution concerns while also keeping an eye on the bioremediation technology and services market.
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Market Dynamics
In recent years, the growing concern about environmental degradation plays a crucial role in the overall growth of the global bioremediation technology and services market. The government and public health organizations rising awareness about bioremediation technologies are also boosting the global market for bioremediation technology and services. Global market revenue growth is driven by the rising popularity of genetically modified organisms that may be used in bioremediation. The use of nanotechnology in heavy metal bioremediation and wastewater management is strengthening the bioremediation technology and services space. Nanoparticles are being employed as adsorbents in wastewater treatment as nanotechnology advances. Nanoparticles are utilized to remove heavy metal ions from wastewater at low concentrations due to their excellent selectivity and adsorption capability.
Additionally, expanding uses of bioremediation in the business sector are resulting in the growth of the bioremediation technology and services market. The growing interest of major market players in bioremediation is resulting in increasing investment and funding for the development of novel bioremediation technologies and hence surging the overall global bioremediation technology and services market. However, the high cost of bioremediation technology and services and stringent environmental regulations for the use of microbes are expected to restrain the overall growth of the bioremediation technology and services market
Market Ecosystem
The global bioremediation technology and services market has been analyzed from four perspectives: Type, Technology, Services, and Region.
Bioremediation Technology and Services Market by Type
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Based on type, the global bioremediation technology and services market is bifurcated into in-situ bioremediation and ex-situ bioremediation. In-situ bioremediation segment dominated the market with the largest revenue share in 2021, owing to the low-cost method as there is no labor involved and minimum site disruption. Because of its low maintenance, cost, and environmental friendliness, the use of microbes such as Alcanivorax borkumensis, Pseudomonas putida, Dechloromonas aromatic, Methylibium petroleiphilum, and others to degrade waste and contaminants into carbon dioxide and water on-site has grown in popularity. It is also a long-term approach to restoring contaminated areas. Bioremediation enables accelerated in-situ volumetric treatment, which may remove dissolved and absorbed contaminants. These aspects are resulting in the further growth of the in-situ bioremediation segment.
Bioremediation Technology and Services Market by Technology
Based on technology, the global bioremediation technology and services market is further segmented into biostimulation, phytoremediation, bioreactors, fungal remediation, bioaugmentation, and land-based treatment. Due to increased urbanization and hazardous soil in various areas of developed countries, the phytoremediation segment held the largest market share in 2021. Phytoremediation uses plants to clean up air, water, and soil contamination. The plant absorbs and breaks down pollutants through its roots, leaves, and stems. Additionally, phytoremediation technology is cost-effective, sustainable, versatile can be a long-term solution to environmental contamination. These advantages are expected to further boost the phytoremediation segment.
Bioremediation Technology and Services Market by Services
Based on the services, the global bioremediation technology and services market is segmented into soil remediation, oilfield remediation, wastewater remediation, and others. Wastewater remediation held the biggest market share in 2021, owing to a rising focus on treating toxic water in major and minor water bodies. Along with this, rising technological advancements in wastewater treatment such as the detection of hazardous chemicals, microbial fuel cell technology, and many more are major reasons for the growth of the wastewater remediation segment. Moreover, major firms are collaborating to form new corporations particularly focusing on wastewater treatment is also helping in the growth of wastewater remediation. For instance, in January 2023, Battelle, an Ohio-based firm that uses science and technology to serve in national security, health, life sciences, energy, and environmental industries, partnered with Viking Global Investors, an investment firm, launched a new company Reviev Environmental. The new company aimed to provide contaminant migrant services by using some of Battelle’s technology to isolate, remove, and destroy PFAS chemicals in sources of contamination.
Bioremediation Technology and Services Market by Region
Geographically, the global bioremediation technology and services market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the global bioremediation technology and services market in 2021, due to the top-notch infrastructure, high industrial growth & waste production, and the presence of major players. The major players are steadily involved in partnerships, mergers, and acquisitions, helping the regional market grow. Along with this, various research institutes and companies are conducting continuous research in the bioremediation space to develop new bioremediation techniques. For instance, according to a report from Nature Communication from September 2022, a new novel technology that efficiently binds to and breaks down per- and polyfluoroalkyl substances (PFAS) in the environment was developed by scientists of Texas A&M Agrilife Research with support from a NIEHS Superfund Research Program. The new approach: Renewable Artificial Plant for In-Situ Microbial Environmental Remediation (RAPIMER) uses a plant-based material made up of leaves, stalks, and cobs of corn plants left in the field after harvesting absorbs the PFAS and the microbial fungi that eat up the chemicals.
Competitive Landscape
The prominent players operating in the global bioremediation technology and services market are:
Strategic Developments
The estimated market size of the Bioremediation Technology and Services industry in 2030 is US$ 24.96 billion.
During the forecast period from 2022 to 2030, the CAGR of the bioremediation technology and services market is 7.8%.
The employment of microorganisms to aid in the neutralization or removal of different toxins through the utilization of waste is known as bioremediation.
The rising popularity of genetically modified organisms, the rising awareness about bioremediation technologies by the government and public health organizations, and the growing concern about environmental degradation are the factors driving the market growth.
Some prominent players operating in the global bioremediation technology and services market are Altogen Labs; InSitu Remediation Services Limited; Xylem; Drylet Inc.; Regenesis, Ivey International, Inc.; Sumas Remediation Services, Inc.; RT Environmental Services, Inc.; Sevenson Environmental Services Inc.; Sarva Bio Remed LLC; Soilutions Ltd; and Aquatech International LLC; among others.
*Insights on financial performance are subject to the availability of information in the public domain
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Snehal Deshmukh
Principle Consultant
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