According to the report, the global produced water treatment market was valued at approximately USD 5.89 billion in 2017 and is expected to generate around USD 8.37 billion by 2024, at a CAGR of around 5.15% between 2018 and 2024.
Produced water is the water generated along with oil and gas as a by-product. Due to its acidic nature, the produced water needs to be treated before reinjection into water bodies. The produced water’s acidic nature is due to the presence of various chemical compounds, such as benzene, ethyl-benzene, toluene, xylene, and poly-aromatic hydrocarbons.
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The rapid offshore exploration and production activities across the Gulf region have led to the development of water treatment techniques globally. The rising demand for oil and gas industry is likely to propel the growth of this market. According to the U.S. Energy Information Administration (EIA), the global consumption of liquid fuel is rising at a rate of about 1.8% annually. In addition, the stringent government regulations and norms regarding the ecological effect of produced water disposal and reinjection measures and formulations in the oil and gas sector are also anticipated to positively impact the produced water treatment market. Moreover, the growing production of traditional shale gas reserves generates a large amount of produced water in comparison to normal seawater. These are some factors that are expected to drive the produced water treatment market in the future.
By type, the produced water treatment market includes primary separation, secondary separation, and tertiary separation. Tertiary separation is projected to dominate the market in the upcoming years, owing to this technique’s extensive application during the reinjection procedure to separate various chemical compounds. By application, this market is bifurcated into offshore and onshore. Offshore applications are likely to dominate the market in the future, due to the increasing number of sea exploration activities to meet the needs of the oil and gas industry.
North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa comprise the regional segment of the global produced water treatment market. The Asia Pacific region is predicted to offer significant growth opportunities in the produced water treatment market in the future, due to the rising demand for freshwater and the growing scarcity of freshwater resources. The North American region is anticipated to register the highest rate of growth in the global produced water treatment market in the upcoming years, owing to an increased number of offshore sea exploration and production activities across the region. Moreover, the emergence of U.S. and Canada as oil and shale gas production destinations is expected to further boost this regional market.
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Some major players of the produced water treatment market include Aker Solutions, CETCO Energy Services, Schlumberger Limited, Ecosphere Technologies, Inc., Thermo Energy Corporation, FMC Technologies, Inc., Veolia, Frames Group, Aquatech International, Alderley PLC, Eco-Tec, Ovivo, Siemens AG, Global Water Engineering, and Miox Corporation.
This report segments the global produced water treatment market into:
Global Produced Water Treatment Market: Type Analysis
- Primary Separation
- Secondary Separation
- Tertiary Separation
Global Produced Water Treatment Market: Application Analysis
Global Produced Water Treatment Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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