(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 24, 2025 (GLOBE NEWSWIRE) -- The "Bioremediation market by Type, by Technology, by Service, by End-User, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global bioremediation market size was estimated to be USD 16.36 billion in 2023 and is expected to reach USD 49.36 billion by 2034 with a CAGR of 10.56% during the forecast period 2024-2034. The market will grow due to rising environmental regulations, growing concern for environmental sustainability, an increase in oil spills and industrial contamination incidents, technological advancements in bioremediation, increased government funding and initiatives, and an increased emphasis on waste management.
The demand for sustainable waste management practices is increasing across municipal, agricultural, and industrial sectors, driving significant growth in the bioremediation market. This approach is increasingly utilized to treat hazardous waste, improve soil health, and manage wastewater effectively. A noteworthy development occurred in May 2023, when Allonnia launched Allonnia 1,4 D-Stroy, a bioremediation solution that can degrade 99% of 1,4-dioxane in contaminated groundwater. Often labeled as a "forever chemical," 1,4-dioxane poses considerable environmental challenges due to its persistence, highlighting the importance of innovative solutions in addressing such critical issues in environmental remediation.
By type, the in-situ bioremediation segment accounted for the highest revenue-grossing segment in the global bioremediation market in 2023 owing to the cost-effectiveness and minimal disturbance to the contaminated site. For instance, in May 2024, BAE Systems held a "Partner2Win" Supplier ceremony in San Diego to honor its top suppliers and subcontractors for its Ship Repair business in 2023. The U.S. Navy and commercial boats' maintenance, modernization, and refit projects were successfully supported by 125 vendors, who were honored by the firm. Additionally, the ex-situ bioremediation segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of controlled environments that enhance the efficiency of pollutant degradation.
By technology, the phytoremediation segment accounted for the highest revenue-grossing segment in the global bioremediation market in 2023 owing to the widespread application of plants in treating contaminants in soil and water. For instance, June 2023: Clearyst, a sustainability tech business focused on solutions, said today that it has joined forces with Lillianah Technologies for a two-year carbon removal agreement. Lillianah will use its exclusive phytoplankton dispersal process to capture and remove carbon in the form of carbon removal credits as per the agreement. The most efficient and well-understood technique for removing carbon dioxide from the marine environment is the capture and removal of biomass using sinking in already-polluted areas. This technique is the best type of aquatic-based carbon capture available. Since Clearyst and Lillianah are partners, the company is running at net zero. Additionally, the fungal remediation segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising recognition of fungi's ability to degrade complex organic pollutants, such as petroleum hydrocarbons and heavy metals.
By service, the soil remediation segment accounted for the highest revenue-grossing segment in the global bioremediation market in 2023 owing to the high demand for remediation of agricultural and industrial land contaminated by chemicals and hazardous substances. For instance, Osceola Capital is happy to announce that, in April 2024, it has recapitalized Trauma Services in collaboration.In Osceola's present fund, Trauma Services is the third platform investment. Additionally, the oilfield remediation segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased frequency of oil spills and the rising demand for sustainable oilfield cleanup solutions.
By end-user, the oil & gas industry segment accounted for the highest revenue-grossing segment in the global bioremediation market in 2023 owing to the prevalence of oil spills and contamination in exploration and production activities, which necessitates effective cleanup methods. For instance, in February 2024, Waste Connections, Inc. announced today the completion of the previously disclosed acquisition from Secure Energy Services Inc. (TSX: SES) ("Secure") of the portfolio of 30 energy waste treatment and disposal facilities in Western Canada for a total purchase price of CAD$1.075 billion. Additionally, the mining industry segment is predicted to grow at the fastest CAGR during the forecast period owing to the need for remediation of heavy metals and toxic waste from mining operations, especially in emerging economies.
North American is anticipated for the highest revenue share during the forecast period owing to the strict environmental regulations, advanced technology adoption, and significant investments in environmental cleanup efforts, particularly in the U.S. and Canada. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to rapid industrialization, increasing environmental awareness, and rising government initiatives to manage pollution and contaminated sites, especially in countries like China and India. For instance, in February 2024, ServiceMaster Brands, a top franchise provider of needs-based residential and commercial services in the cleaning, moving, bioremediation, and restoration industries, and Ace Hardware, the largest retailer-owned hardware cooperative in the world, entered into a multi-year agreement. Through the new relationship, local franchise owners within the ServiceMaster organization will be able to purchase business supplies from locally operated Ace Hardware stores and receive special incentives.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
Forecast Period: 2024-2034 Market Forecast by Type, Technology, Service, and End-User Market Forecast for 5 Regions and 17+ Countries North America (U.S. and Canada) Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe) Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC) Latin America (Brazil, Mexico, Argentina, Rest of LATAM) MEA (South Africa, GCC, Rest of MEA)
Company Profiles of the Top 10+ Major Market Players Bioremediation Environmental Services Clean Harbors Veolia Environnement GEI Consultants Baker Hughes RRS (Resource Recovery Solutions) Bioremediation Technologies Xylem Inc. Envirogen Technologies Tetra Tech AquaBioTech Group Microbial Technologies REGENESIS Ecolab Suez
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $16.36 Billion |
| Forecasted Market Value (USD) by 2034 | $49.36 Billion |
| Compound Annual Growth Rate | 10.5% |
| Regions Covered | Global |
Market Segmentation:
Bioremediation Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
In Situ Bioremediation Ex Situ Bioremediation
Bioremediation Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)
Biostimulation Phytoremediation Bioreactors Fungal Remediation Bioaugmentation Land-based Treatment
Bioremediation Market Analysis & Forecast by Service 2023 - 2034 (Revenue USD Bn)
Soil Remediation Oilfield Remediation Wastewater Remediation Others
Bioremediation Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
Oil & Gas Industry Industrial Manufacturing Mining Industry Municipalities Others
Bioremediation Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America Europe Germany France UK Spain Italy Rest of Europe
Asia Pacific China Japan India Australia South Korea Rest of APAC
Latin America Brazil Mexico Argentina Rest of LATAM
Middle East & Africa South Africa GCC Rest of MEA
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Global Bioremediation Market
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