Produced Water Treatment Market size is set to grow by USD 2.97 billion from 2024-2028, Increasing global concerns regarding water scarcity to boost the market growth, Technavio

NEW YORK, June 12, 2024 /PRNewswire/ -- The global produced water treatment market  size is estimated to grow by USD 2.97 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 7.06%  during the forecast period. Increasing global concerns regarding water scarcity is driving market growth, with a trend towards rise in unconventional oil and gas resources. However, increasing use of renewable energy sources  poses a challenge.. Key market players include Aker Solutions ASA, Alderley Plc, Aquatech International LLC, Baker Hughes Co., Enviro Tech Systems, Exterran Corp., Frames Energy Systems BV, Genesis Water Technologies Inc., Halliburton Co., IDE Water Technologies, Minerals Technologies Inc., NOV Inc., Ovivo Inc., Prosep Inc., Schlumberger Ltd., Siemens Energy AG, SUEZ SA, TechnipFMC plc, Veolia Environnement SA, and Weatherford International Plc.

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Key Market Trends Fueling Growth

The global produced water treatment market is poised for growth due to the increasing production of oil and gas from unconventional sources. In the US and China, shale gas will be the primary contributor to natural gas production, accounting for over half of the total production in both countries by 2040. This will result in a significant increase in the demand for produced water treatment systems to manage the enormous amounts of water used in the extraction process.

According to the US Energy Information Administration (EIA), global tight oil production is projected to more than double between 2015 and 2040, with the US accounting for the largest share. Other major contributors to global tight oil production include Russia, Canada, and Argentina. The EIA also expects natural gas production from unconventional sources to increase in these countries, leading to further demand for produced water treatment systems. 

The Produced Water Treatment market is experiencing significant growth due to the increasing demand for oil and gas production. Urbanization and the need for energy have driven this trend. The process involves removing contaminants from produced water, which is a byproduct of oil and gas extraction. This water can contain heavy metals, salts, and other impurities. Companies are investing in advanced technologies such as reverse osmosis, ultrafiltration, and electrodialysis to improve treatment efficiency.

Semi-membrane technologies and chemical treatments are also used. The focus is on producing clean water for reuse in operations and reducing waste. Producers are looking for cost-effective and sustainable solutions to meet regulatory requirements and minimize environmental impact. The market is expected to continue growing as the energy sector expands. 

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Market Challenges

•         The global energy landscape is undergoing a significant transformation, with renewable energy sources gaining prominence over traditional fossil fuels. This shift is particularly noticeable in Europe, where the EU aims to generate a 35% share of power from renewables by 2030. Stringent emission norms, such as Euro-VI, have reduced demand for oil and gas in the region, leading to a decline in the upstream industry. Consequently, the produced water treatment market will primarily serve the needs of developing and underdeveloped economies during the forecast period.

•         The Produced Water Treatment market faces several challenges in ensuring effective and efficient water management in various industries. These include the presence of complex contaminants, high volumes of water, and stringent regulatory requirements. Regulations such as the ENVIRONMENTAL PROTECTION AGENCY (EPA) and the Oil and Gas Industry's ENVIRONMENTAL AND SOCIAL INITIATIVE (OneFuture) require strict compliance with water quality standards.

•         The use of advanced technologies like reverse osmosis, ion exchange, and ultraviolet disinfection can help address these challenges. However, the high cost of these technologies and the need for ongoing maintenance remain significant hurdles. The industry also faces the challenge of managing large volumes of produced water, particularly in unconventional oil and gas production. Overall, the Produced Water Treatment market requires innovative solutions to address these challenges and ensure sustainable water management practices.

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Segment Overview 

1. Application 
• 1.1 Onshore
• 1.2 Offshore
2. Technology 
• 2.1 Secondary treatment
• 2.2 Primary treatment
• 2.3 Tertiary treatment
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Middle East and Africa
• 3.4 South America
• 3.5 APAC

1.1 Onshore-  The onshore segment, a significant contributor to global oil and gas production, will witness moderate growth in the produced water treatment market. The US shale gas industry, driven by the need for large water volumes for hydraulic fracturing, is a major market driver. With crude oil prices recovering and projected to remain around USD94 per barrel, the market is expected to expand due to increased global demand for liquid fuels and natural gas. This trend will lead to the reactivation of abandoned onshore shale gas blocks in the US, resulting in increased production and the subsequent use of treated produced water.

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Research Analysis

The Produced Water Treatment Market encompasses the technologies and solutions employed to manage and process water generated during oil and gas exploration and production activities. This includes water from urbanization and population growth areas, as well as from fossil fuel extraction processes such as crude oil and natural gas production. The treatment of produced water is crucial for various applications, including transportation and industrial activities. The treatment process involves removing oil droplets, sediments, mud particles, heavy metal particles, salts, hydrocarbons, and organic compounds from the water.

Regulatory requirements mandate the treatment of produced water to ensure compliance with environmental concerns and prevent water scarcity. Freshwater usage and energy consumption are minimized through advanced treatment methods like membrane filtration and electrocoagulation. Produced water treatment is essential for maintaining the sustainability of oil and gas reservoirs and preserving the quality of river streams. The market for produced water treatment is expected to grow significantly due to the increasing demand for clean water and the need to minimize the environmental impact of oil and gas production.

The Produced Water Treatment Market encompasses technologies and solutions designed to manage and process water generated during oil and gas exploration and production activities. This market is driven by the increasing focus on water management and the need to minimize water usage and environmental impact. Technologies employed include membrane filtration, chemical treatment, and thermal processes.

The market is segmented based on application, including enhanced oil recovery, injection, and disposal. Regions with significant oil and gas production, such as North America and the Middle East, dominate the market. The market is expected to grow due to the rising demand for water reuse and the implementation of stringent regulations. The use of advanced technologies, such as membrane filtration and chemical treatment, is expected to drive market growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Onshore
• Offshore
• Technology
• Secondary Treatment
• Primary Treatment
• Tertiary Treatment
• Geography
• North America
• Europe
• Middle East And Africa
• South America
• APAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio