The study on the global bioremediation market offers a detailed and critical assessment of key growth dynamics, current and emerging avenues, competitive dynamics, prominent opportunities, and major technological advances. The study offers in-depth insights into the prospects of key segments and revenues contributed by prominent application areas.
The drive for the global bioremediation market stems from the need for optimal environmental conditions for microorganisms to grow and proliferate. They are notably used for reducing the toxicity of organic contaminants by degrading the organic contaminants into less-toxic products. Several specific conditions determine the type of bioremediation technologies that will be in demand. Notable of them are site conditions, the type of microorganisms needed, and the toxicity profile of contaminants. They are used in various industries including mining, oil and gas, agriculture, and automotive.
The global bioremediation market is anticipated to witness a bright growth trajectories from 2019 to 2023. The market is boosted by the rising demand for bioremediation for cleaning contaminated water and soil. Growing use of in situ and ex situ processes in treating the contaminated groundwater and excavation applications respectively is reinforcing the prospects. Various in situ types comprise bioventing, phytoremediation, bioleaching, biostimulation, bioaugmentation, and bioslurping. On the other hand, the primary segments of ex situ are controlled solid-phase treatment, slurry-phase biological treatment, and composting.
The rising demand for bioremediation for the treatment of organic wastes is gathering steam as it is considered cost-effective. However, the process has some limitations. Bioremediation is incapable of cleaning highly chlorinated organic substances containing with heavy metal concentrations.
Among the various applications, the use of bioremediation in the water bodies sector held the sway in 2017, by occupying the leading share. In the coming years, the segment is expected to maintain its dominance. There is extensive use of bioremediation techniques in the treatment of sewage, lakes, rivers, streams, and aqua culture. This is likely to create vast lucrative opportunities in the market.
The rapid strides taken by agriculture in several countries across the globe is also catalyzing the demand for bioremediation. This is because farming activities over past few years have led to the proliferation of hazardous pollutants to ecology in various parts of the world. As a result of copious opportunities, the agriculture industry will contribute a promising share of revenue to the global bioremediation market by rising at the most attractive growth rate from 2019 to 2023.
Key regional markets for bioremediation are North America, Asia Pacific, Latin America, the Middle East, and Africa.