A Persistence Market Research report showed that North America would account for 41% of the global produced water treatment market by 2020, as worldwide revenues increase to US$6 billion from US$4.6 billion in 2015.
The report also estimated that the volume of produced water worldwide would increase to almost 340 billion barrels by the end of 2020, which would benefit the global produced water treatment market, as it would drive a need for more filter underdrain systems, which can be sourced from Ashton Tucker Water Treatment, among other products.
Produced water occurs from the extraction of oil and gas, and it contains a mix of organic and inorganic elements. Oil companies have tried to reduce the level of produced water as much as possible. Even as the report expects an increase in the near future, the need for available drinking water could be a silver lining for a higher level of produced water.
Mounting concerns for the environment also drive the concept of treating oilfield-produced water as a source of clean water for drinking purposes. In North America, more oil exploration projects and stricter regulations are driving the need for better-produced water treatment systems
North America may have the biggest share of the produced water treatment market, but the fastest pace of growth would occur in the Asia Pacific market. The region’s development would stem from a continually diminishing supply of potable water, particularly in China and India.
The reduced level of water supply in these countries reflects a World Bank report, which noted that lack of supply could result in a 6% GDP reduction in some countries’ economies.
A rising global population requires more sources of drinking water, which is why the produced water treatment industry should continue to invest in quality equipment for treating wastewater to meet a higher demand.