Westford, USA, Nov. 19, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Global Bioremediation Market Share will reach a value of USD 31.91 Billion by 2031, with a CAGR of 9.93% during the forecast period (2024-2031). Throughout the projection period, the increasing levels of human wrongdoing-induced environmental contamination and pollution are expected to chiefly augment the demand for bioremediation. The bioremediation market growth is further going to be facilitated by the strict environmental conservation laws implemented and fresh initiatives for restoring the environment and undoing the harms incurred due to human activities during the projection period.
In the long run, increased awareness among consumers about sustainability coupled with growing attention towards sustainability with technological advancement in bioremediation is predicted to usher in novel opportunities for the bioremediation companies. With increasing urbanization and industrialization at a very fast pace in the future years, this trend is also anticipated to significantly support the growth of the bioremediation industry.
Browse in-depth TOC on the “Bioremediation Market”
Pages – 205
Tables – 93
Figures – 66
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Bioremediation Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 14.96 Billion |
| Estimated Value by 2031 | USD 31.91 Billion |
| Growth Rate | Poised to grow at a CAGR of 9.93% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Type, Service, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Bioremediation market growing through eco-friendly solutions |
| Key Market Opportunities | Oil Spill and Wastewater Treatment |
| Key Market Drivers | Rising Pollution Levels |
In Situ Bioremediation Dominates Market, Driven by Cost-Effective Contamination Treatment
As per the bioremediation market forecast, the in-situ bioremediation segment is holding a 56.63% of the market share in 2024. It treats contaminations at their original location by not excavating or pumping out the contaminated materials. It utilizes technologies such as natural attenuation, bioslurping, biosparging, and bioventing, among others. The process can be altered by changing variables such as aeration, nutrient concentration, moisture content, etc. The activity of the organisms and the rate of decomposition can be enhanced by modifying the process. For that reason, this technique is ideal for treatments involving the treatment of low concentrations of contaminants in groundwater because blowing air into the soil from below the ground increases the oxygen supply.
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Oilfield Bioremediation to Grow Rapidly, Supported by Eco-Friendly Cleanup Technologies
The bioremediation industry has been growing rapidly; thereby, with new eco-friendly oilfield cleanup technologies under development, oilfield remediation is expected to grow at the fastest pace of 13.43% over the forecast period. Countries such as the United States are under immense pressure to increase their oil output owing to rising oil prices recently. Apart from this, omics technologies such as metagenomics and metatranscriptomics have developed at a rapid pace in recent times and have enabled the application of microbial-based techniques for cleanup of oilfields. In addition, biosurfactants’ use has accelerated the adoption of oilfield bioremediation operations even further by improving the bioavailability of the oil’s components.
North America Leads Bioremediation Market, Fueled by Advanced Infrastructure and Research Innovation
Advanced infrastructure, fast industrial expansion and waste production, and presence of leading market competitors such as Regenesis Corporation, Probiosphere, Inc., and Xylem, Inc., among others, would bring the highest share to North American countries in 2024. There is also significant research potential in bioremediation in the region, pushing technological development and the expansion of the market size. For instance, research published in the Applied and Environmental Microbiology journal last September 2021 revealed that oil and diesel, among other hydrocarbons-degrading marine bacteria, are already found in the Arctic region of Canada.
Bioremediation Market Insights
Drivers
- Corporate Environmental Responsibility
- Urbanization and Industrial Growth
- Rising Focus on Circular Economy
Restraints
- Limited Applicability to Certain Pollutants
- Resistance from Traditional Methods
- Lack of Standardization
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Key Players Operating Within the Bioremediation Market
- Xylem, Inc. (US)
- Aquatech International LLC (US)
- Newterra Ltd. (Canada)
- Altogen Labs (US)
- InSitu Remediation Services Limited (Canada)
- Probiosphere (Canada)
- Ivey International, Inc. (Canada)
- Sumas Remediation Services, Inc. (US)
- Sarva Bio Remed, LLC (India)
- Envirogen Technologies (US)
- Drylet, Inc. (US)
- Regenesis Corp. (US)
- MicroGen Biotech Ltd. (Ireland)
- Oil Spill Eater International, Inc. (US)
- Texas A&M AgriLife (US)
- Allonnia (US)
Key Questions Covered in the Global Bioremediation Market Report
- What are the factors restricting the market growth?
- Which region dominated the market?
- Which sub-segment within the type of category, accounted for the largest share in 2023?
- What are the key bioremediation market trends?
- What is the forecast period for measuring the market growth?
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This report provides the following insights:
Analysis of key drivers (rising focus on circular economy, corporate environmental responsibility), restraints (lack of standardization, limited applicability to certain pollutants) opportunities (microbial fuel cells), and challenges (shortage of skilled professionals) influencing the growth of the bioremediation market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the bioremediation market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the bioremediation market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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