Key Questions Answered in the Report:
- What is the importance of bioremediation? How the bioremediation process evolved over the centuries?
- What are the major market drivers, challenges, and opportunities in the global bioremediation market?
- What was the global bioremediation market size in terms of revenue in 2018?
- How is each segment of the global bioremediation market expected to grow during the forecast period between 2019 to 2028 and what is the revenue expected to be generated by each of the segments by the end of 2028?
- What are the developmental strategies implemented by the key players to sustain in the competitive market?
- What is the growth potential of the bioremediation market in each region, namely, North America, Europe, Asia-Pacific, and the Rest-of-the-World?
- Which processes among the two (in-situ and ex-situ) are offered by key players such as Novozymes, Thermo Fisher Scientific Inc., Drylet, LLC, Microgen Biotech Ltd., Organic Biotech Pvt. Ltd. and Probiosphere?
- Which component type is expected to dominate the market in 2028?
- Which medium type is expected to dominate the market in 2028?
- Which application type is expected to dominate the market in 2028?
- Which region dominated the global bioremediation market in 2018 and what are the expected trends from each of the regions in the forecast period 2019-2028?
Global Bioremediation Market Forecast, 2019-2028
The Global Bioremediation Market report projects the market to grow at a significant CAGR of 7.72% during the forecast period from 2019 to 2028. Rising public concerns for safety of environment and increasing use of bioremediation techniques are some of the factors promoting the growth of bioremediation market.
"North America is the leading contributor to the global bioremediation market. In 2018, in terms of revenue, the North America bioremediation market was valued $9.66 billion which is anticipated to grow at a CAGR of 6.52% during the forecast period. This double-digit growth can be attributed to the rise in the number of companies such as Altogen Labs, Drylet, LLc, Green Apple Environmental Technologies, and OSEI - Oil Spill Eater International, Corp offering bioremediation services as well as new product launches in the region. However, Asia-Pacific is the fastest-growing region growing with a CAGR of 9.86% during the forecast period, increasing industrialization and urbanization has resulted in serious environmental pollution problems. Moreover, government initiatives for river conservation through bioremediation and involvement of public-private partnerships for bioremediation activities would drive the growth of the bioremediation technology & services market by 2028."
Scope of the Global Bioremediation Market
The purpose of this study is to gain a holistic view of the global bioremediation market in terms of various influencing factors such as regional adoption trends, and technological advancements.
The scope of this report constitutes an in-depth study of the global bioremediation market, including a thorough analysis of the products in the market as well as their adoption spanning different geographical regions. The market has been chiefly segmented into product, process, medium, application, and region. The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions. The research uncovers some of the substantial parameters that must be taken into consideration before entering the market.
- The Global Bioremediation Market can be segmented on the basis of “Component”, “Process”, “Medium”, “Application” and “Region”.
- North America dominated the bioremediation market and accounted for 36.22% in 2018, and 32.40% during upcoming year 2028.
- Factors contributing to the growth of the North America bioremediation market include the rise in the number of companies offering bioremediation services as well as new product launches in the region.
- Asia-Pacific held the second largest contributor for the bioremediation market, due to the increasing industrialization and urbanization has resulted in serious environmental pollution problems. Moreover, government initiatives for river conservation through bioremediation
- The global bioremediation market is segmented based on product (microorganism, instrument, accessories and other consumables, and services), process- in-situ (phytoremediation, bioventing, bioleaching, bioslurping, biostimulation, and bioaugmentation), ex-situ (composting, slurry-phase biological treatment, bioreactor, and landfarming), medium (soil remediation, water remediation and oilfield remediation), application (agriculture & aquaculture, mining, industrial, oil & gas, municipal, and other applications) and region (North America, Europe, Asia-Pacific, and Rest-of-the-World (Latin America and Middle East & Africa).
- By Component, services held 63.82% of the market share in 2018. Instruments held 23.36% of the total market share in 2018 and is expected to grow in the upcoming years. High demand for remediation services for removing the contaminants from soil, oilfield, and groundwater accounts for the market growth of this segment.
- By Process, in situ- bioaugmentation segment held the largest market share with 23.09%, biostimulation segment held the second largest market share with 16.91% in 2018.
- By Medium, soil remediation dominated the market in 2018 and held the largest market share with 46.64%. Remediation in soil is more prevalent because of increasing number of contaminants found in soil and various techniques of bioremediation are used extensively to treat contaminants in soil.
- By Applications, Industrial segment dominated the market in 2018 and held the largest market share with 27.09% and agriculture & aquaculture segment held the second largest market share with 21.18% in 2018. The growth in industrial segment can be attributed because of many contaminants and pollutants are coming from industrial segment. Industrial waste is a huge source of water pollution, it produces pollutants that are harmful to the environment. Cadmium enrichment of soil associated with industrial pollution. Industrial pollution is due to increased discharge of wastes containing hazardous and carcinogenic contaminants.
Key Companies in the Global Bioremediation Market
This report is a meticulous compilation of research on 46 players in the market ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of more than 15 leading companies, market participants, and vendors. The report also profiles 15 companies that comprise key players from the bioremediation market. Some of the market players include primary and secondary data analysis tools providers such as Novozymes, Thermo Fisher Scientific Inc., Drylet, LLc, Microgen Biotech Limited, Probiosphere, QM Environmental Services Nederland, and Shandong Sukahan Bio-Technology Co.,Ltd. There are a plethora of companies providing different products and process for remediation of contaminants such as Novozymes, Thermo Fisher Scientific Inc., Drylet, LLC., Amalgam Biotech, and Organica Biotech Pvt. Ltd.