Future remediation market worth $123bn

1st December 2016


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Related tags

  • Business & Industry ,
  • Natural resources ,
  • Biodiversity ,
  • Ecosystems ,
  • Pollution & Waste Management

Author

Rowena Ekermawi

The global remediation market is predicted to be worth $123bn by 2022, and achieve compound annual growth rate of almost 8% over the next six years, according to research firm Markets and Markets.

The global remediation market is predicted to be worth $123bn by 2022, and achieve compound annual growth rate of almost 8% over the next six years, according to research firm Markets and Markets.

It said the growth would be driven by the large number of initiatives undertaken by governments for environment protection and pollution control. The US market research company said demand for remediation services would be highest in the Asia-Pacific region, with the rapid increase in government funding and the adoption of eco-friendly industries spurring the need for this type of work in China, Japan, India, and South Korea.

It also reported that demand would be highest for groundwater remediation services and technologies between 2016 and 2022 due to rising levels of products, such as petrol, oil and chemicals, in groundwater, which rendered it useless for human consumption.

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