Bioremediation Technology and Services Market Size and CAGR by 2031
The bioremediation technology and services market size is projected to reach US$ 26.66 billion by 2031 from US$ 13.98 billion in 2023. The market is expected to register a CAGR of 8.40% during 2023–2031. Nanobiotechnology for bioremediation will likely remain a key trend in the market.
Bioremediation Technology and Services Market Analysis
The general public now views phytoremediation as an environmentally acceptable method of cleaning contaminated areas. Because bioremediation technology can remove a wide range of organic and inorganic contaminants from different environmental components, it has become more widely accepted in recent years. Environmental remediation is highly demanded for effective industrial operations due to the advancement of remediation technologies and the ongoing growth of the oil and gas industry.
Bioremediation Technology and Services Market Overview
With microorganisms, bioremediation is a waste management technique that eliminates harmful soil, water, and air chemicals. Government organizations may alter how organic chemical spills reduce their adverse environmental effects. The success of terrestrial bioremediation in Canada's north has prompted further study into the technology's possible application in the marine environment. Water scarcity can be lessened due to the appropriate policies and stringent regulations that governments have implemented. Water scarcity is a significant issue that government policies can reduce. To prevent countries from overusing water resources, governments implement projects and awareness campaigns highlighting water conservation's value. Numerous national and international organizations, as well as certain governments, are launching conservation initiatives. To improve constructed wetland treatment systems for the bioremediation of oilsands process-affected water (OSPW), for example, Dr. Doug Muench, a professor in the Department of Biological Sciences, co-led a multi-institutional grant valued at over US$ 6.3 million from Genome Canada in November 2021.
Therefore, the market is anticipated to be driven throughout the forecast period by rising awareness of the scarcity of natural resources like water and oil.
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Bioremediation Technology and Services Market: Strategic Insights
Market Size Value in US$ 11.90 Billion in 2021 Market Size Value by US$ 20.95 Billion by 2028 Growth rate CAGR of 8.4% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Bioremediation Technology and Services Market: Strategic Insights
| Market Size Value in | US$ 11.90 Billion in 2021 |
| Market Size Value by | US$ 20.95 Billion by 2028 |
| Growth rate | CAGR of 8.4% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Bioremediation Technology and Services Market Drivers and Opportunities
Government Regulations and Funding for Research & Development Activities in Bioremediation Favors the Market Growth
The primary federal organization in the US responsible for enforcing environmental laws is the Environmental Protection Agency. Most nations have ecological protection organizations that support applying statutes about preserving the environment and public health. Governments from different countries are funding research and development efforts in bioremediation. The EiCLaR project, for example, was introduced in January 2021. For this USD 7.48 million project, the EU and PR China are working with 13 European and 5 Chinese partners. To treat a variety of pollutants, including pesticides, heavy metals, and chlorinated solvents, quickly, effectively, and affordably, EiCLaR will create scientific and technological advancements for in situ bioremediation technologies over the next 48 months. These advancements will be directly implemented into industrial processes. The University of Hawaii-led project, Technology Development and Training in Bioremediation, is funded by the Agriculture-Based Remediation Program (ABRP). The success of the program has been attributed to the United States Army Corps of Engineers Waterways Experiment Station, the United States Army Environmental Center (USAEC), and the United States Department of Agriculture's Cooperative State Research, Education, and Extension Service (USDA-CSREES) (USACE-WES). The project aims to increase local bioremediation expertise, develop a bioremediation industry capable of serving Hawaii and the Asia-Pacific area, and increase public knowledge of agriculture-based bioremediation technology. Therefore, the government's ongoing support of bioremediation research and development is anticipated to propel the market for bioremediation services and technologies.
Rising Level of Micro-Nano Plastics (MNPs) in Natural Ecosystem Creates Significant Opportunities in the Market
The global environment and biological health are negatively impacted by the growing amount of micro-nanoplastics (MNPs) in natural ecosystems. MNP infiltrates agroecosystems, fauna, flora, and human bodies through microbes' movement, ingestion, and inhalation, resulting in vascular blockage, infertility, and aberrant behavior. Consequently, using a fresh strategy to remove MNP from the environment is crucial. Microbial remediation is regarded as one of the more environmentally friendly methods of MNP remediation among the various currently used.
Many biotic and abiotic factors, including temperature, oxidative stress, pH, co-substrate concentration, substrates, and enzymatic mechanisms, commonly impact the microbial breakdown of plastics. Because plastic fragments are the only carbon source available to microbes for growth and development, it is imperative to recognize the critical pathways that these organisms have adopted. Therefore, it is anticipated that the increasing concentration of micro-nanoplastics (MNPs) in the natural ecosystem will increase demand for bioremediation. This will likely present several growth opportunities for companies in the bioremediation technology and services market throughout the forecast period.
Bioremediation Technology and Services Market Report Segmentation Analysis
Key segments that contributed to the derivation of the bioremediation technology and services market analysis are type, technology and service.
- Based on type, the bioremediation technology and services market is segmented into in situ bioremediation and ex-situ bioremediation. The in situ bioremediation segment held the most significant market share in 2023.
- By technology, the market is categorized into phytoremediation, biostimulation, bioaugmentation, bioreactors, fungal remediation, and land-based treatments. The phytoremediation segment held the largest share of the market in 2023.
- By service, the market is segmented into soil remediation, wastewater remediation, oilfield remediation, and others. The soil remediation segment held a significant share of the market in 2023.
Bioremediation Technology and Services Market Share Analysis by Geography
The geographic scope of the bioremediation technology and services market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The North America bioremediation technology and services market is segmented into the US, Canada, and Mexico. Some stringent environmental regulations were passed requiring polluters to limit emissions and reduce the risk of contamination on their premises. The United States government has established the Environment Protection Authority (EPA), responsible for treating and evaluating contaminated areas worldwide. The Environmental Protection Agency also operates a program called "Superfund," which assists in cleaning hazardous areas throughout the United States. Phytoremediation, or using plants to clean up the land, was recorded in far higher figures in the US.
Bioremediation Technology and Services Market Report Scope
Bioremediation Technology and Services Market News and Recent Developments
The bioremediation technology and services market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the bioremediation technology and services market are listed below:
- Global water technology leader Xylem announced it is sponsoring an innovative new funding mechanism for water utilities to deploy promising new technologies. The partnership with water consultancy Isle Utilities is a new approach to funding and scaling breakthrough water technologies called the “Trial Reservoir.” It provides water technology innovators access to capital for pilot projects, with an initial focus on technologies that reduce the carbon emissions of water systems. Technology trials and pilots are generally required in advance of full-scale implementations. (Source: Xylem Inc., Press Release, January 2022)
- Xylem Inc., a leading global water technology company dedicated to solving the world’s most significant water challenges, has announced an expanded commitment to Imagine H2O, the leading water innovation accelerator and ecosystem for water entrepreneurs. As a global partner, Xylem brings expanded support to Imagine H2O’s startup Accelerator and joins as the newest partner to Imagine H2O Asia, the organization’s Singapore-based initiative supporting water solutions across Southeast Asia. (Source: Xylem Inc., Press Release, October 2021)
Bioremediation Technology and Services Market Report Coverage and Deliverables
The “Bioremediation Technology and Services Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Bioremediation technology and services market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Bioremediation technology and services market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Bioremediation technology and services market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the bioremediation technology and services market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Technology, and Service
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The market is expected to register a CAGR of 8.40% during 2023–2031.
Xylem Inc., REGENESIS, Aquatech International LLC., Drylet, Altogen Labs, Probiosphere, Ivey International Inc., InSitu Remediation Services Limited, Sumas Remediation Services, Inc.
Nanobiotechnology for bioremediation will likely remain a key trend in the market.
Key factors driving the market are government regulations and funding for research & development activities in bioremediation and increased awareness about the scarcity of natural resources such as water and oil.
North America dominated the bioremediation technology and services market in 2023
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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