Advanced oxidation technologies employ highly reactive agents like ozone, hydrogen peroxide, ozone with hydrogen peroxide, titanium dioxide and ultraviolet light to oxidize organic pollutants in water and wastewater into simpler and safer byproducts like carbon dioxide and water. These technologies are increasingly being adopted for treatment of industrial wastewater containing recalcitrant and toxic pollutants that are difficult to remove through conventional treatment methods.
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. stringent environmental regulations regarding discharge of effluents into waterbodies are compelling industries to adopt advanced treatment for wastewater treatment before disposal. Moreover, favorable policies supporting water reclamation and wastewater recycling are creating growth opportunities for players in this market. Advanced oxidation processes leveraging ultraviolet light, titanium dioxide have shown promising results for disinfection and destruction of emerging waterborne pollutants like drug residue and personal care products.
Market drivers
Stringent norms pertaining to industrial wastewater discharge are a key driver for advanced oxidation technologies market. Industries are compelled to reduce concentration of toxic pollutants in wastewater to permissible limits before disposal. Oxidation Technologies Market Demand help treat toxic and hazardous organic pollutants that are difficult to remove through conventional biological or chemical methods. Growing freshwater scarcity induced by climate change and rapid urbanization is propelling demand for water reclamation and reuse globally. Advanced oxidation technologies play a vital role in water reclamation by removing organic micropollutants to potable water standards.
Current Challenges in Advanced Oxidation Technologies Market
The advanced oxidation technologies market is currently facing few challenges like high capital expenditure involved in installing advanced oxidation equipment and technologies. These technologies require huge investment in equipment, installation and operational costs which is a major hindrance especially for small and medium projects. Another challenge is related to technical know-how and expertise. Advanced oxidation technologies involve complex chemical processes and requires technical expertise to design, operate and maintain these systems efficiently. Lack of technical knowledge and expertise poses challenges in wide adoption of these technologies. Strict environmental regulations around the world also poses compliance challenges for technology providers and end-users.
SWOT Analysis
Strength: Advanced oxidation can treat wide range of industrial wastewaters and is an environment friendly alternative to conventional treatment methods. These technologies are capable of degrading even persistent organic pollutants in wastewater.
Weakness: High capital and operational costs involved. Require specialized technical expertise for design, installation and operations.
Opportunity: Increasing spending on water and wastewater infrastructural projects globally. Growing industrialization and urbanization posing greater pressure on conventional treatment facilities.
Threats: Stringent environment regulations around the world increase compliance burden. Threat from emerging low-cost alternative treatment methods.
Geographical Regions with Highest Market Value
North America region currently holds the highest market value share in advanced oxidation technologies market due to stringent environmental regulations and growing infrastructure spending in the region. Countries like United States and Canada are investing heavily in upgrading their existing water and wastewater treatment infrastructure which is driving demand. Europe is another major geographical region driven by focus on sustainable technologies and EU directives regarding water reuse and recycling.
Fastest Growing Geographical Region
Asia Pacific region is poised to be the fastest growing market for advanced oxidation technologies during the forecast period from 2024 to 2030. This is attributed to growing industrialization and urbanization in major APAC economies like China and India exerting tremendous pressure on existing water resources. Rapid infrastructure development in the region along with government initiatives to adopt advanced treatment solutions will drive higher adoption of advanced oxidation technologies especially in industrial wastewater treatment applications.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it