Rapid Industrial Expansion in Most of the Countries is Escalating the Growth of the Bioremediation market

Recent rapid industrial expansion, has resulted in massive contamination of numerous environmental areas, including oceans, freshwater systems, forests, and agricultural fields. Besides, mismanagement of plastic waste, crude oil spills, increased production of Greenhouse Gases (GHG), and the release of chemical pollutants such as polycyclic aromatic hydrocarbons, bisphenol-A, pyrethroid pesticides, and dioxanes have all contributed to worsening environmental outcomes and increased demand for bioremediation by the market players are some of the factors driving the growth of Bioremediation Market. Government institutions, such as the United States Environmental Protection Agency (EPA) host the Superfund programme for the cleaning of the country's most hazardous sites.

Furthermore, the America COMPETES Act of 2022 was passed in the United States in February 2022, and it was intended to launch the National Engineering Biology Research & Development Initiative, which would provide financing opportunities for bioremediation and related bioengineering solutions.

According to Marketlook Consulting’s research report “Global Bioremediation Market Analysis, 2021”, the global bioremediation market is anticipated to grow at a CAGR of 8.1% during 2022-29 The market would reach USD 29.1 Mn by 2029.

Based on Type, In Situ Type segment acquired a significant market share 2021. The In Situ technique is well suited for applications where oxygen availability may be enhanced by pumping air into the soil's subsurface, such as the treatment of groundwater with low pollutant concentrations. Natural attenuation, bio-sucking, composting, bio-venting, and microbe-assisted phytoremediation are some of the most widely used in situ bioremediation technologies and services.

Based on Technology, Phytoremediation acquired a considerable market share in 2021 as a result of increased urbanisation and toxic soil in many parts of industrialised nations. The segment is expected to expand further due to phytoremediation's low cost in comparison to other technologies and its capacity to remove organic and inorganic contaminants from soil and water in a sustainable manner.

Based on Service, Soil Remediation acquired an exorbitant market share in 2021 The service entails the removal of soil contamination caused by sources such as chemical dumping, inappropriate waste disposal, pipe leaks and spills, and others. The high level of soil degradation caused by industrial pollutants, agrochemicals, and municipal trash drives the demand for soil restoration. According to the United Nations, for example, land and soil degradation affects approximately 3.2 billion people worldwide.

“Global Bioremediation Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Bioremediation providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

North America Dominated the Market

Based on Leading regions, North America dominated the global Bioremediation market in 2021 and is projected to maintain its dominance during the forecasted period 2022-29. This may be due to the presence of advanced infrastructure, rapid industrial growth, garbage generation, and some of the largest manufacturing sectors in the region. Additionally, the number of businesses providing bioremediation services has significantly increased in the recent past. A study published in the journal Applied and Environmental Microbiology in September 2021, confirmed the presence of marine bacteria capable of digesting hydrocarbons such as oil and diesel in the Canadian Arctic region. Moreover, a rise in the frequency of government financing for R&D initiatives in several fields related to bioremediation is projected to accelerate the market's expansion in this area projected to fuel the demand for Bioremediation in the forthcoming period as stated in Marketlook Consulting research report “Global Bioremediation Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global Bioremediation market are Xylem, Inc., Sumas Remediation Service, Inc., Probiosphere, Inc., Drylet, Inc., Newterra Ltd., Regenesis Corp., MicroGen Biotech Ltd., Envirogen Technologies, Inc., Aquatech International Corp., Oil Spill Eater International, Inc.

Market Segmentation:

1. By Type (In Situ Bioremediation, Ex Situ Bioremediation)
2. By Technology (Biostimulation, Fungal Remediation, Bioreactors, Phytoremediation, Bioaugmentation, Land-based Treatment)
3. By Service (Soil Remediation, Wastewater Remediation, Oilfield Remediation, and Others)
4. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
5. By Company (Xylem, Inc., Sumas Remediation Service, Inc., Probiosphere, Inc., Drylet, Inc., Newterra Ltd., Regenesis Corp., MicroGen Biotech Ltd., Envirogen Technologies, Inc., Aquatech International Corp., Oil Spill Eater International, Inc.)

Key questions answered in the study:

1. What are the current and future trends of the Bioremediation industry?
2. How the industry has been evolving in terms of type and technology?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Bioremediation industry?
5. What is the customer orientation, purchase behavior, and expectations from the Bioremediation firms across various regions?