September 13, 2016
Wellesley, Mass., Sep 13, 2016 – Advanced oxidation technologies have gained interest in recent years because of their outstanding technical characteristics for eliminating a variety of pollutants in water and wastewater. BCC Research reveals in its new report that as environmental regulations tighten amid dwindling global water resources, key industrial sectors (oil and gas, food and beverage, mining) and municipal bodies are expected to increasingly implement oxidation technologies in water and wastewater treatment.
Advanced oxidation technologies use ozone, or combinations of ozone, UV light and hydrogen peroxide to degrade compounds such as pharmaceutical and personal care byproducts and endocrine disrupting compounds, while also providing disinfection.
The global market for advanced oxidation technologies for purification applications should reach $4.4 billion and $6.5 billion in 2016 and 2021, respectively, reflecting a five-year compound annual growth rate (CAGR) of 8%, from 2016 to 2021. As a segment, hydrogen peroxide should reach $2.1 billion by 2021, up from $1.3 billion in 2016, demonstrating a five-year CAGR of 10.8%. The ozone technology segment should total $897 million and $1.3 billion in 2016 and 2021, respectively, on a five-year CAGR of 8.5%.
Key market drivers include new environmental legislations imposed across the globe, advanced industry needs for water treatment and recycling, new innovation technologies used for product development (e.g., nanotechnology), the use of renewable energy, and innovative technologies that increase flexibility of application and enable economically viable small scale solutions. Population growth, climate change, stricter regulations for drinking water and groundwater, and the need for emergency preparedness present high-growth opportunities in the market.
The use of advance oxidation technologies remains limited, generally to sites challenged by organic compounds that are resistive to biological treatment (recalcitrant), or which are inefficiently removed via adsorption or volatilization, or which are toxic and hazardous (like radioactive waste).
"The water treatment industry is mature and many processes have remained essentially unchanged for decades," says BCC Research analyst Niko Thomopoulos. "Innovation and changes occur based on incremental refinements to established process technologies, for example in disinfection or advanced treatment like biological waste treatment. However, advanced oxidation technologies continue to emerge, producing a significant increase in applications. This should continue as chemical treatments become more cost intensive due to increasingly stringent regulations."
Advanced Oxidation Technologies: Global Markets (ENV034A) analyzes the technologies used for purification application of globally produced water and wastewater. The report examines emerging technologies and the global competition among key players. Global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at email@example.com.
Advanced Oxidation Technologies: Global Markets( ENV034A )
Publish Date: Sep 2016
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email firstname.lastname@example.org or visit www.bccresearch.com/media to request access to our library of market research.