July 16, 2024
Advanced Oxidation

Advanced Oxidation Technologies Market is Estimated to Witness High Growth Owing to Rising Demand for Clean Water

Advanced oxidation technologies are a set of innovative chemical processes used for treating contaminated water and industrial waste streams. These processes make use of agents like ozone, hydrogen peroxide, and ultraviolet light to break down hazardous organic pollutants into simpler and safer byproducts. They offer excellent performance in removing toxic and carcinogenic compounds such as pharmaceutical residues, pesticides, and dyes from sources of drinking water, minimally treated municipal wastewater, and industrial process streams. The rising global awareness regarding water pollution has boosted the adoption of advanced oxidation technologies to ensure sustainable water management.

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 2031.

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 companies are focusing on developing new and innovative Advanced Oxidation Technologies Market Share solutions and expanding their global footprint through mergers & acquisitions and partnerships with local players.

The key opportunities in the market include development of advanced oxidation technologies suitable for on-site water treatment and adoption in waste treatment applications such as agricultural and industrial wastewater. Several governments are promoting private sector investments to strengthen water infrastructure using advanced technologies.

Globally, the market is witnessing strong growth in North America and Europe driven by stringent environmental regulations and rising investments in water infrastructure. However, Asia Pacific is expected to offer lucrative growth opportunities with growing awareness, urbanization, and industrialization in countries like China and India.

Market drivers

Stringent drinking water quality standards and industrial wastewater discharge norms established by regulatory bodies like the USEPA have compelled industries and municipalities to ensure effective treatment of contaminated water sources. This is a major factor driving the adoption of advanced oxidation technologies capable of removing even low-level concentrations of harmful pollutants. Additionally, the growing freshwater scarcity worldwide has underscored the need for sustainable water management through water recycling and reuse wherein advanced oxidation plays a critical role.

PEST Analysis

Political: Government policies and regulations towards environmental protection are supporting the growth of advanced oxidation technologies market. Changing emission standards are forcing industries to adopt these technologies to treat their wastewater.

Economic: Growing industrialization and urbanization is increasing water pollution. Industries are investing in advanced water treatment technologies to meet stringent discharge standards and save on wastewater treatment costs in long run.

Social: Rising awareness about environmental sustainability and importance of clean water is positively impacting the demand for advanced oxidation treatment technologies from municipal sector to purify drinking water.

Technological: Continuous focus on research & development is leading to innovations in advanced oxidation process equipment like development of new photocatalytic materials with higher efficiency. Integration of these technologies with artificial intelligence is further optimizing their performance.

Geographical regions with high market concentration

The advanced oxidation technologies market regional analysis in terms of value is highly concentrated in North America and Europe. Stringent regulatory framework regarding wastewater discharge and availability of early technology adopters are driving increased adoption of advanced water treatment in these regions.

The Asia Pacific region is witnessing fastest growth for this market driven by rapid industrialization, rising affluence, and growing concerns towards water pollution control in major economies like China and India. Large-scale investments in water infrastructure to meet future needs of expanding cities offer lucrative opportunities for market players in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.  LinkedIn Profile

About Author - Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.  LinkedIn Profile

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