April 20, 2024
Advanced Oxidation Technologies Market

Advanced Oxidation Technologies Are In Trends By Increasing Oil And Gas Exploration Activities

The Advanced Oxidation Technologies Market involves the oxidation of contaminants in water, wastewater and industrial waste streams using innovative oxidation processes. These technologies help destroy organic chemicals completely by converting them into carbon dioxide and water. They are more effective than conventional treatment methods and are widely used for water treatment in municipal, industrial and healthcare applications.

The Global Advanced Oxidation Technologies Market is estimated to be valued at US$ 8.91 Mn in 2024 and is expected to exhibit a CAGR of 10%  over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Advanced Oxidation Technologies are Prysmian Group, Aker Solutions, TechnipFMC plc, SUBSEA 7, Saipem S.p.A., McDermott International, Ltd., DeepOcean Group Holding BV, Schlumberger, Halliburton, NOV Inc., Vallourec, Oceaneering International, and Siemens. These key players are investing significantly in R&D activities to develop innovative oxidation technologies.

The growing demand for fresh water due to rapid urbanization and industrialization is driving the demand for advanced oxidation technologies globally. They help treat large volumes of municipal and industrial wastewater efficiently while meeting stringent environmental discharge standards.

The advanced oxidation technologies market share is witnessing significant expansion in North America, Europe, Asia Pacific and Middle East regions due to increasing oil and gas exploration activities. Major oil producers are adopting offshore deep-water and ultra-deepwater production which requires advanced seawater treatment facilities to re-inject produced water into oil reservoirs. This is positively impacting the advanced oxidation technologies adoption.

Market key trends

The use of ultrasound technology coupled with Advanced Oxidation Processes (AOP) is a key trend in the market. Ultrasound helps enhance treatment efficiency of AOPs by generating hydroxyl radicals. It allows lower chemical doses and residence times to achieve the same pollutant removal. This trend of sonocatalysis is gaining popularity for industrial wastewater treatment applications.

Porter’s Analysis

Threat of new entrants: Advanced oxidation technologies requires significant R&D investments and capital costs for setting up production facilities, limiting threat of new entrants. Bargaining power of buyers: Large multi-national oil companies have significant bargaining power over technology providers due to their purchasing power and ability to demand low pricing and other concessions. Bargaining power of suppliers: Few technology developers operate in this niche market, giving them significant bargaining power over buyers in terms of negotiating contracts and pricing. Threat of new substitutes: No close substitutes exist for advanced oxidation technologies that can efficiently treat oil and gas wastewater offshore and onshore. Competitive rivalry: Intense competition exists among established technology providers to gain new contracts and market share through investments in R&D and capability expansion.

Geographical Regions

North America accounts for the largest share of the advanced Oxidation Technologies Market Demand currently in terms of value, driven by stringent wastewater discharge regulations and widespread adoption across various end-use industries such as oil & gas and chemical processing. The Asia Pacific region is anticipated to grow the fastest during the forecast period, supported by the rapidly expanding petrochemical industry, economic development, and government initiatives focused on wastewater treatment infrastructure development.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it