The demand for oil continues to stay low during the ongoing COVID-19 pandemic. This is causing ripple effects for business activities in the produced water treatment market. Oil prices continue to remain low in Europe, the U.S., Germany, France, and Italy. Even stakeholders in India are at loggerheads with increase in petrol price, in an attempt to revive the economy from recession.
Rising petrol prices in India are encouraging individuals to opt for electric vehicles (EVs), which might affect growth of the India produced water treatment market during the upcoming years. As such, COVID-19 vaccines are anticipated to accelerate the global economic recovery and create business opportunities for all stakeholders in the value chain.
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Feasibility of Produced Water Reuse Influences Market Growth
The produced water treatment market is projected to reach the revenue of US$ 187.4 Bn by the end of 2031. However, the feasibility of produced water reuse is largely dependent on the quality of produced water generated, the duration in time of produced water generation and how it declines over time. Wells that produce significant volumes of produced water during initial time period are preferred for reuse due to the logistics involved in storing and transporting the water for reuse.
Companies in the produced water treatment market are tapping sources that ensure continuous volume of produced volume to keep tanks and trucks moving, thus increasing the economic efficiency of reusing the produced water from one wellsite to another.
Mobile Stations Hold Promising Potentials in Treatment of Produced Water for Agricultural Irrigation
The adsorption-based technology is gaining prominence in the water treatment market. This type of treatment package utilizes water polishing adsorption filters that are specifically designed to remove oil, grease, and soluble organics from water-based streams. The adsorption media is based on polymer, resin, and clay technology.
On the other hand, the Montana oilfield in the U.S. is acquiring recognition for using a mobile station to design a plant that cost efficiently treats the produced water for agricultural irrigation. Companies are taking cues from such innovations to combine physical and chemical treatment in order to comply with reuse and discharge limits. They are gaining a strong research base to improve the stages of pre-treatment, membrane filtration, and post treatment in a mobile station.
Startups Unlock Growth Opportunities with DAF to Gain Proficiency in Oil Removal
Since environmental concerns of disposing off effluents produced by the oil industry are rising, such trends are translating into incremental opportunities for companies in the produced water treatment market. SEM — a British firm that offers wastewater treatment solutions, is gaining popularity for introducing the dissolved air floatation (DAF) technique, which is an alternative clarification process ideal for treating raw water with light particles such as algae or color-causing organics.
The dissolved air floatation method is a well-known sludge thickening process that is proficient in removing oil & grease from produced waters. Companies are increasing their focus in DAF, since it helps to achieve low effluent turbidity than settling.
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Membrane Bioreactors Efficiently Remove Total Petroleum Hydrocarbons from Produced Water
Apart from well-known chemical treatments and biological treatments, companies in the produced water treatment market are leveraging growth opportunities in membrane treatment. Ceraflo - a Singaporean scale-up that offers produced water treatments for the oil & gas industry, is utilizing the membrane bioreactor, which uses a submerged hollow fiber in combination with processes such as microfiltration or ultrafiltration in an activated sludge process.
Bioreactors are acquiring widespread application in biological wastewater treatment. Companies in the produced water treatment market are using membrane bioreactors to effectively remove the total petroleum hydrocarbons (TPH) from produced water, resulting in a significant improvement in effluent quality. They are increasing efforts to develop polytetrafluoroethylene (PTFE) hollow fiber membrane systems to treat produced water.
Produced Water Treatment Market: Overview
- According to Transparency Market Research’s latest research report on the global produced water treatment market for the current period 2020and the forecast period of 2021 to 2031, rise in water scarcity and ongoing investment in oil & gas exploration are key factors expected to boost the global produced water treatment market during the forecast period
- In terms of revenue, the global produced water treatment market is estimated to reach US$ 4Bn by 2031, expanding at a CAGR of ~5% during the forecast period. In terms of end use, oil & gas is estimated to be a highly lucrative segment of the global produced water treatment market during the forecast period. Water is used in all stages of oil & gas development, extraction, and processing. Operations may consume water or remove large quantities of water; the water is subsequently utilized for drilling, washing, and processing.
Rise in Water Scarcity: Key Driver of Produced Water Treatment Market
- Produced water can be described as a mixture of organic and several inorganic components that exist in oil & gas reservoirs. Water produced this way is acidic in nature and needs to be treated before it is discharge into river streams or while employing it for reinjection in oil & gas extraction sites.
- Usage of freshwater has increased significantly, owing to the ever-growing population across the globe. Prolonged discharge of oil contained water is polluting existing resources. This is expected to lead to scarcity of freshwater in the near future. Governments of several countries have enacted stringent regulations on environment practices by imposing discharge norms regarding oil concentration level in discharged streams.
- Water acts as a pushing agent for oil & gas (helping oil & gas rise up to the surface). Produced water needs to be treated and reused in order to increase productivity for the process of extraction oil & gas from the well. Various water treatment methods have been introduced owing to an increase in productivity of oil & gas and stringent government norms to control the discharge of produced water directly.
- Demand for produced water treatment is high in countries experiencing scarcity of freshwater. Asia Pacific experiences greater water scarcity problems; therefore, rate of adoption of water treatment methods is considerably high in major countries, such as China and India, in order to deal with scarcity of water.
- More than 60%produced water comes from oilfields. Reusing produced water for re-injection in onshore as well as in offshore operations is expected to propel the produced water treatment market during the forecast period.
Stringent Rules and Regulations Globally for Water Treatment
- Water pollution is increasing due to dispersing polluted water into streams, making them unhealthy to wildlife as well as to the urban population. The European Union proposed a ban on discharge of produced water into the marine environment in order to curb water pollution, which was amended for the year 2020, in order to compel the installation of water treatment plants with every exploration and existing wells.
- Enactment of rules and regulations for water discharge, along with a rise in of water treatment methods to produce water from oil rigs in various countries is expected to boost the produced water treatment market significantly
