Produced Water Treatment Systems Market Predicted To Value US$ 6 Bn By 2020

Posted by Vinay on October 24th, 2017

Produced water contains a blend of inorganic and organic compounds and is produced during the extraction of oil and gas. In terms of administrative divisions, there is no separation between produced water and oil management. However, multiple stages within oil management cater to the management of produced water. Oil production companies try to reduce the amount of water produced during extraction as higher amount of produced water needs to be consequently treated and disposed. Conventional oil production techniques result in a large amount of produced water.

It is estimated that the volumes of produced water across the globe will rise to nearly 340 bn barrels the end of 2020, indicating a massive leap from the nearly 202 bn barrels recorded in 2014. In a recent report, Persistence Market Research states that this significant rise in the global production of produced water will fare well for the global market for produced water treatment in the near future.

The report states that the market will expand at a CAGR of 6.1% between the period of 2015 and

2020, rising from US.6 bn in 2015 to a revenue opportunity of US.0 bn by 2020.

Vast Rise in Oil and Gas Exploration Activities to Drive Market

The rapid growth of the world population is posing a challenge to the available drinking water supply. Since agriculture and energy production draw more freshwater and produce contaminated water in turn, the water which was once termed as waste is being perceived as a valuable resource. This is creating a need for the treatment of produced water. The potential of oilfield produced water to be a source of fresh water and rising environmental concerns are making produced water treatment a significant part of the oil and gas industry.

The stringent legislations on the discharge of produced water into the environment are also driving the global market for produced water treatment systems. Increasing oil to produced water ratio, growing regulatory standards and water scarcity are key driving factors for the increased adoption of these systems. An increase in the rate of exploration of on-shore and off-shore oil and gas resources has also boosted the growth of the global produced water treatment market. The growing prevalence of fracking or land gas drilling through hydraulic fracturing has further augmented the growth of the market.

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