Fracking Water Treatment Market Highlights 2022 – 2030 : Global
The global fracking water treatment market is estimated to garner a sizeable revenue and grow at a CAGR of ~3% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing usage of hydraulic fracking in the oil and gas industry, stringent international norms associated with wastewater treatment, and rising demand for crude oil and natural gas around the world. According to the International Energy Agency, the total oil demand rose up to 4,456 million tons in 2019, up from 4,428 million tons in 2018. long with these, growing focus of people towards natural gas vehicles and escalating environmental concerns regarding emissions are also expected to boost the growth of the market in the upcoming years. Furthermore, rise in demand for sophisticated techniques to recycle water as a result of the escalating importance of water worldwide is also projected to be a crucial factor expanding the market growth in the near future.
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The market is segmented based on application into treatment & recycle, and deep well injection, out of which, the treatment & recycle segment is anticipated to hold the largest share in the global fracking water treatment market on account of the increasing requirement for water to comprehend its shortage, and growing applications of reused wastewater globally. In addition, rising number of drilling activities in the oil and gas sector is also predicted to boost the growth of the market segment by the end of 2030. Moreover, on the basis of source, the residential segment is assessed to acquire the largest share during the forecast period, which can be credited to the high generation of waste water from the residential sector across the globe and rapid rate of urbanization.
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Global Fracking Water Treatment Market Regional Synopsis
On the basis of geographical analysis, the global fracking water treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the increasing implementation of restrictions from governmental organizations to reduce excessive wastage of water, and growing scarcity of fresh water in the region. It is calculated that by 2050, more than 250 million will suffer from shortage of water in South Asia. In addition, population in the region has already used 95 percent of Indus. Additionally, the fracking water treatment market in North America is expected to gather the largest share over the forecast period, which can be credited to the increasing number of drilling projects, growing consumption of crude oil, and strong presence of prominent market players in the region.
The global fracking water treatment market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Fracking Water Treatment Market Segmentation
Our in-depth analysis of the global fracking water treatment market includes the following segments:
- Treatment & Recycle
- Deep Well Injection
- Increasing Use of Hydraulic Fracking in the Oil and Gas Industry
- Rising Demand for Crude Oil and Natural Gas Worldwide
- Strict International Regulations Associated with Wastewater Treatment
Top Featured Companies Dominating the Market
- Ecologix Environmental Systems, LLC
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Schlumberger Limited
- Oasys Water Inc.
- Halliburton Co.
- Total Separation Solutions
- DuPont de Nemours, Inc.
- Veolia Environment SA
- Gasfrac Energy Services
- SUEZ SA
- Xylem Inc.