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DUBLIN, April 25, 2022 /PRNewswire/ — The “Bioremediation Technology and Services Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type, Technology, and Service” report has been added to ResearchAndMarkets.com’s offering.
The global bioremediation technology and services market is projected to reach US$ 11.90 billion by 2028 from US$ 20.95 billion in 2021; it is expected to grow at a CAGR of 8.4% during 2021-2028. The market growth is mainly attributed to government regulations and funding for research & development activities in bioremediation globally.
The Environmental Protection Agency is the primary federal agency in charge of enforcing environmental regulations in the US. Most countries have environmental protection agencies that assist in implementing laws concerning environmental issues and human health protection. Governments of various countries are funding for research & development activities in bioremediation. For instance, the EiCLaR project was launched in January 2021. The EU and PR China – ie, including 13 Europe and 5 Chinese partners – collaborated on this US$ 7.48 million project. Over the next 48 months, EiCLaR will develop scientific and technical innovations for in situ bioremediation technologies that will be directly developed into industrial processes for rapid, efficient, and cost-effective treatment of various pollutants such as chlorinated solvents, heavy metals, and pesticides.
In addition, the partnership program, which focuses on cooperation between academics, industries, government, and other entities, received UBC Science researchers funding worth US$ 1.2 million in May 2019.The…
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