Report : North America Oil Pollution Remediation Materials Market Forecast to 2030 - Regional Analysis - by Type [Physical Remediation (Booms, Skimmers, and Adsorbent Materials), Chemical Remediation (Dispersants and Solidifiers), Thermal Remediation, and Bioremediation]
At 2.6% CAGR, North America Oil Pollution Remediation Materials Market is Projected to be Worth US$ 1,063.46 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the North America oil pollution remediation materials market was valued at US$ 864.22 million in 2022 and is projected to reach US$ 1,063.46 million by 2030, registering a CAGR of 2.6% from 2022 to 2030. Rising offshore oil exploration and transportation activities and development of novel oil pollution remediation materials are among the critical factors attributed to drive the North America oil pollution remediation materials market growth.
The development of nanotechnology-based oil spill remediation has emerged as a promising frontier in addressing the environmental challenges posed by oil spills. Nanotechnology involves manipulating materials at the nanoscale, allowing for precise control over properties and interactions. Nano-sorbents such as graphene-based materials, carbon nanostructures, and magnetic nanoparticles exhibit exceptional oil-absorbing capacities. Their large surface area and unique structures allow for efficient binding with oil molecules, facilitating the removal of oil from water surfaces. Nano-emulsions and nano-dispersants improve the dispersion of oil in water. The development of bio-nano hybrids represents an amalgamation of nanotechnology and bioremediation. Nanostructures can be combined with natural substances or microorganisms to create materials with enhanced oil-degrading properties. These hybrids leverage the physical and biological mechanisms to mitigate oil pollution efficiently.
Researchers at the Massachusetts Institute of Technology developed superhydrophobic nanowire membranes for the absorption of oil from an oil-water mixture. The researchers developed free-standing membranes composed of inorganic nanowires capable of absorbing up to 20 times their weight. Nanomaterials combined with different functional properties such as chemical, magnetic, and photocatalytic, offer efficient mitigation of oil spills from the water surface. Magnetic polymer composites comprise superparamagnetic nanoparticles of maghemite and alkyd resin polymer matrix; they offer promising scope for oil spill remediation. Thus, the development of several novel oil pollution remediation materials is expected to fuel the oil pollution remediation materials market growth in the future.
On the contrary, fluctuations in raw material prices of physical and chemical remediation hamper the growth of the North America oil pollution remediation materials market.
Based on type, the North America oil pollution remediation materials market is segmented into physical remediation, chemical remediation, thermal remediation, and bioremediation. The physical remediation segment held 38.2% market share in 2022, amassing US$ 330.48 million. It is projected to garner US$ 411.04 million by 2030 to register 2.8% CAGR during 2022-2030. Furthermore, the physical remediation segment is sub segmented into booms, skimmers, and adsorbent materials. Additionally, the chemical remediation segment is bifurcated into dispersants and solidifiers.
Based on country, the North America oil pollution remediation materials market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 67.7% share of North America oil pollution remediation materials market in 2022. It was assessed at US$ 585.03 million in 2022 and is likely to hit US$ 729.11 million by 2030, registering a CAGR of 2.8% during 2022-2030.
Key players operating in the North America oil pollution remediation materials market are Ansell Ltd; Brady Corp; CL Solutions, LLC; Compania Espanola de Petroleos SA; Cosco Shipping Heavy Industry Co., Ltd; Cura Inc; Ecolab Inc; NOV Inc; Oil Spill Eater International Corp; Oil-Dri Corp of America; Osprey Spill Control; Regenesis; Sarva Bio Remed LLC; SkimOIL LLC; and TOLSA SA, among others.
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