Environmental Remediation Market Size Projected to Increase at a CAGR of 7.5% through 2025
The global environmental remediation market size had swelled up to $91.26 billion, and the prospects are projected to prosper at a CAGR of 7.5% during the forecast period of 2019 to 2025.
(firmenpresse) - As the fossil fuel resources are diminishing, the emphasis on alternative sources of energy is escalating leading to radical use of nuclear energy without adhering to proper regulations. A number of countries indulged into illicit nuclear activities, only to later realize the severe consequences. Now, when environmental concerns have engulfed nearly all developed and developing economies, the environmental remediation market is thriving. This marketplace offers processes to remove contaminants from varied environmental media such as groundwater, air, soil, surface water, and sediments. As every country has a different ecological establishment and every industrial site has its own characteristics, it is imperative to use the best possible environmental remediation solution to achieve the best of balancing risks, costs, and public acceptance. Some of the key technologies provided by the environmental restoration market companies are excavation or dredging, thermal desorption, surfactant enhanced aquifer remediation (SEAR), pump and treat, in situ oxidation, nanoremediation, and soil vapor extraction. By the end of 2018, the global environmental remediation market size had swelled up to $91.26 billion, and the prospects are projected to prosper at a CAGR of 7.5% during the forecast period of 2019 to 2025.
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Currently, there are 1,067 active technical nuclear cooperation projects underway besides 99 active coordinated nuclear research projects that are approved by the International Atomic Energy Agency (IAEA). After numerous initial projects that went unregulated, IAEA now assists its member countries to use nuclear science and pertaining technologies in a sustainable manner, putting environmental repercussion as paramount. To achieve this, the agency aids its member countries in the development and maintenance of adequate infrastructure to use nuclear power for energy production, water desalination, hydrogen production, and district heating. The efforts by IAEA is foreseen as the primary driver of the environmental remediation market.
Protecting the surrounding from nuclear waste is not the only area of application for the players operating in the market for environmental remediation. The players also cater to a multitude of end-users including agriculture, mining and forestry, oil and gas, automotive, construction and land development, and landfills & waste disposal sites. Among these, the oil and gas end-use segment is evaluated as the most lucrative one, and it is poised to expand at a CAGR of 7% through to 2025. An investigation by the U.S. Geological Survey (USGS) has shown that inadvertent environmental impacts associated with petroleum products include natural saline-water that is discharged from the subsurface when petroleum is extracted leads to spills on the ground. This spillage causes destruction of soil texture, salinization of surface water, and stress or death of vegetation. Thus, there exists a necessity for effective environmental remediation to prevent all the above-mentioned hazards in the surroundings, especially in the oil and gas application. Presently, natural bioremediation is trending in the oil and gas application segment of the environmental remediation market, whereas conventional cleanup procedures continue to generate substantial demand. Bioremediation relates to the usage of living microorganisms such as bacteria and fungi, which degrade the environmental contaminants into less toxic forms.
Environmental Remediation Market Growth Drivers:
· Nanoscale Materials: Usually, nano-scale materials are mostly useful across numerous fields of science and technology. Now, nano-scale materials are prevalently used for environmental site remediation. Generally, environmental remediation depends upon the usage of a diverse range of technologies namely chemical reactions, adsorption, absorption, and photo-catalysis and filtration for the elimination of contaminants from environmental media such as soil, water, and air. Nanotechnology-based materials are highly preferred to amend contaminated soil and groundwater at harmful waste sites, which are mainly contaminated by chlorinated solvents. Additionally, the properties such as the large surface area to volume ratio, and high reactivity of nano-scale materials are increasing the contact with contaminants; on the other hand, the results are depicting the rapid growth in the reduction of contaminant concentration. Environmental remediation uses inorganic, carbon-based, and polymeric-based nanomaterials. These materials are utilized for the remediation of a gamut of environmental contaminants including chlorinated organic compounds, heavy metals, dyes, heavy metals, organophosphorus compounds, volatile organic compounds, and halogenated herbicides.
· Emerging Contaminants: Increase in the emergence of contaminants coupled with the rising regulatory focus are the growth-promoting factors of the global environmental remediation market. In addition to this, augmented reality visualization is also driving the growth of the environmental remediation landscape. Currently, Per- and polyfluoroalkyl substances (PFAS) are evolving contaminants raising concerns at every level, starting from local municipality water supplier to the international forums. 1, 4 Dioxane is the most mobile organic contaminant in the saturated zone, which has become more challenging to treat this mobile and biodegrade and mixed chlorinated solvents in both the soil and groundwater. This has led to the use of solidification reagents for stabilization which prevent lead leaching, and supports a complete application of improved In-Situ Bioremediation (EISB) for groundwater remediation.
· APAC Dominance: Advanced, sustainable, and cost-effective technologies and solutions are being implemented by the Global Centre for Environmental Remediation (GCER) in order to defense people's economic, social, and physical health and welfare. These solutions decrease the influence of contaminants on the milieu. These compelling developments are boosting the growth of environmental remediation. In Australia, maintenance of a healthy environment is playing a key role as a part of environmental safety and sustainable prosperity act. As this is prone to risk associated with widespread contamination of air, soil and water make happen over the past century. Thus, this nation expends above $1.34 billion yearly for cleaning up the contaminated land and water as well. GCER act as a promoter of risk-based approaches to clean-up the contaminated sites. Therefore, Australia has adopted this effective and affordable approach to eliminate the contamination and to support clean-up in this nation. The above mentioned risk-based remediation needs the advanced bioavailability measurement tools, geo-hydrological prediction models, toxicity assessment models, remediation technologies, bioavailability-based health hazard assessment models, policies to cope up polluted sites, and methods for safer management of the environs. Hence, the APAC region has accounted for a share of 34% among other regions in the global environmental remediation market, as of 2018.
Major Players in Environmental Remediation Market Include:
The major players which are involved in the environmental remediation market are noted as follows Clean Harbors, Inc., Deme Group, Golder Associates Corp., Entact LLC, Brisea Group, Inc., Weber Ambiental, GEO Inc., and Environmental Remediation Resources Pty Ltd. These companies have been constantly concentrating on expansion, and acquisition strategies to strengthen their service portfolio and their stable existence in respective geographies.
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environmental-remediation-market-share
environmental-remediation-market-report
environmental-remediation-market-size
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