Zero-Valent Iron Market size is expected to reach USD 1 billion by the end of 2035, witnessing around 6% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of zero-valent iron was USD 700 million. The growth of this market can be attributed to the increasing contaminants in groundwater along with rising water pollution impacting the ecosystem and human health owing to rising industrial and domestic waste disposal, and many others in open landfills in various countries. Zero valent iron is majorly used to decontaminate the harmful and toxic substances from wastewater, soil, and groundwater to remove pollution from these areas and make them hazardous-free. As per World Health Organization, every year 2 million people consume water that is contaminated and fall sick.
Additionally, the growing demand for groundwater and wastewater treatment is anticipated to drive the growth of the market in the forecast period. Globally 44% of household wastewater is not treated properly. Zero-valent iron is widely used in wastewater treatment and groundwater treatment to remove all contaminants from water and make it safe for drinking and other uses. Rising wastewater treatment worldwide as a result of growing industrial disposable waste with limited treatments and growing domestic waste disposal in water bodies are expected to propel the growth of zero-valent iron in the upcoming years. With increasing nanotechnology and the production of nanoparticles in the commercialization phase, it is estimated to drive the growth of the zero-valent iron market in the forecast period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023 – 2035 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~USD 700 million |
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Forecast Year Market Size (2035) |
~USD 1 billion |
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Regional Scope |
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Type (Granular, Bimetallic, Nano-scale, Combined Products)
The global zero-valent iron market is segmented and analyzed for demand and supply by type into granular, bimetallic, nano-scale, combined products, and others. Out of these, the granular segment is anticipated to hold the largest market share by the end of 2035. To remove pollutants from groundwater, soils, and sediments, mainly metals and other pesticides, zero-valent iron is employed as a reductant in granular form. Additionally, it is predicted that the segment would develop owing to the global rise in detrimental impacts on soil and crops as a result of contaminated water. Cropping intensity is expected to decrease by 20% overall and by roughly 70% in areas with low groundwater levels based on current rates of groundwater depletion. In 2020, more than 9.5 million people were influenced and fell ill owing to contaminated groundwater in the Asia Pacific region.
Application (Ground Water Remediation, Soil Remediation, Industrial Reducing Agent)
The global zero-valent iron market is segmented and analyzed for demand and supply by application into groundwater remediation, soil remediation, industrial reducing agent, and others. The soil remediation segment is anticipated to hold the largest market share by the end of 2035. The market is driven by increasing demand for effective and sustainable remediation solutions. The use of zero-valent iron for soil remediation is based on its ability to react with various contaminants such as heavy metals, organic compounds, and even some types of radioactive waste. When zero-valent iron comes into contact with these contaminants, it degrades into less hazardous substances or is completely removed from the soil.
Our in-depth analysis of the global market includes the following segments:
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By Application |
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By Type |
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APAC Market Statistics
The market in the Asia Pacific region is estimated to witness noteworthy growth by the end of 2035 on the back of the growing chemical manufacturing industry in the region. As Asia is one of the biggest consumers of pesticides, it is also anticipated that the numerous government measures to lower pollution levels throughout the APAC region will lead to market expansion. The FAO reports that in 2018, more than half of the world's pesticide usage was in the region of Asia. Furthermore, China used 1,774 thousand tons of insecticides overall in that same year. Additionally, the region's growing chemical sector, significant market participants, and rising investment in the area will fuel the market growth. Furthermore, rising soil pollution brought on by the region's growing usage of pesticides is anticipated to spur market expansion
North American Market Forecast
The market in the North American region is anticipated to gain a notable market share throughout the forecast period. This can be attributed to the growing consumption of chemicals, including agrochemicals. According to the US Department of Energy, the US is the world's largest producer of chemicals, accounting for about one-fifth of total production, with the chemical industry generating more than $226 billion. Moreover, rising environmental awareness amongst the people is also estimated to fuel regional market growth. Increasing demand owing to groundwater remediation in the United States and Canada is expected to drive the demand for the zerovalent iron market over the forecast period. A significant increase in waste disposal in landfills will increase groundwater contamination as well as soil contamination. The market for zero-valent iron should benefit from this in the coming years. Increased water and wastewater treatment in both countries is also driving up consumption rates. In addition, increasing investments in research and development are also increasing the efficiency of contaminated groundwater and wastewater treatment, particularly in nanotechnology for the synthesis of nanoparticles containing enhanced zerovalent metals. In addition, the strong presence of major US and Canadian manufacturers have sustained product shipments, and the zero-valent iron market is expected to continue gaining traction in its marketing strategy in the North American market.
Europe Market Forecast
The market in the European region is anticipated to account for a significant market share by the end of 2035. The demand for efficient and sustainable water treatment technologies, as well as the rising concern about environmental contamination, are driving the market for zero-valent iron in Europe. Zero-valent iron is increasingly being used in groundwater treatment in Europe because of how well it removes pollutants including heavy metals and chlorinated solvents. As more European nations implement stronger rules on water quality and pollution management, the market for zero-valent iron is anticipated to expand over the next years.
Author Credits: Smruti Ranjan, Rajrani Baghel
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