Chicago, Aug. 15, 2024 (GLOBE NEWSWIRE) — The global Market for the treatment of produced water According to a new report by MarketsandMarkets™, the size is expected to grow from USD 10.7 billion in 2024 to USD 13.4 billion by 2029, at a compound annual growth rate (CAGR) of 4.7%. Produced water treatment is mainly used in oil and gas wells to treat the water produced along with the hydrocarbons. The market for produced water treatment is growing due to increasing exploration and production activities and increased focus on well optimization and productivity.

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Scope of the report

This report segments the produced water treatment market based on two sources: conventional and unconventional. The unconventional segment of the produced water treatment market is expected to grow at the fastest rate due to increasing production from shale plays. This segment produces large volumes of produced water, which presents various challenges in terms of treatment due to the chemical additives used in the fracking process.

This report divides the produced water treatment market into three segments based on treatment: primary treatment, secondary treatment, and tertiary treatment. Primary treatment methods typically include techniques such as gravity separation, which separates contaminants based on their density, and mechanical separation methods such as skimming, filtration, and sedimentation. Primary treatment is expected to be the largest segment in the produced water treatment market as it plays a crucial role in removing most of the contaminants such as grease, oil, and suspended solids from the produced water.

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This report divides the produced water treatment market into two segments based on application: onshore and offshore. The offshore segment in the produced water treatment market is expected to grow at the fastest rate due to increasing energy demand, depletion of onshore reserves and technological advancements. Innovations such as improved drilling techniques and floating production, storage and offloading (FPSO) units are making the offshore process flexible and eliminating the need for onshore infrastructure.

The produced water treatment market is growing due to increased exploration and production activities, expansion into deepwater and ultra-deepwater environments, renewal and rehabilitation of aging wells, focus on efficiency and cost reduction, and environmental and regulatory issues. Rising energy demand is leading to rising energy consumption, especially in emerging markets, further increasing the need for more effective and efficient techniques to meet demand.

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The Middle East and Africa is expected to be the second fastest growing region in the produced water treatment market.

The Middle East and Africa is expected to be the second fastest growing region in the produced water treatment market after Asia Pacific during the forecast period. The region’s increasing focus on produced water treatment is attributed to geopolitical stability, abundant oil and gas reserves, and growing exploration and production activities. The MEA region is home to some of the world’s largest oil and gas reserves, particularly in countries such as Saudi Arabia, Iran, Iraq, Kuwait, and the United Arab Emirates. The MEA region has significant offshore oil and gas reserves, particularly in the Persian Gulf, Red Sea, and off the coast of West Africa.

Key players

Some of the key players in the Market for the treatment of produced water are SLB (USA), Baker Hughes Company (USA), Siemens Energy (Germany), Veolia Environnement SA (France), TechnipFMC (UK). The main strategies of these players include sales agreements, product launches, investments, collaborations, partnerships and expansions.

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