Key Companies Covered in the ‘Global Zero Valent Iron Market’ Research Report by Research Nester are Reade International Corp., Redox Tech, LLC, Geo-Cleanse International, Inc., C.E.R.E.S. Corporation, BASF SE, Corbion NV, Archer-Daniels-Midland Company (ADM), Lallemand Inc., GALACTIC Group, Tate & Lyle PLC, and other key market players.
New York, Sept. 26, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘Global Zero Valent Iron Market’ for the forecast period, i.e. 2022 – 2031 which includes the following factors:
Market growth over the forecast period
Detailed regional synopsis
Key market players and their detailed profiling
Global Zero Valent Iron Market Size:
The global zero valent iron market is estimated to grow at a CAGR of ~6% over the forecast period. Zero-valent iron, which is written as Fe0, is used as a successful remediation agent for environmental issues, especially soil and groundwater remediation. This happens as a result of Fe0's ability to donate an electron to a pollutant, making it negatively charged. It is possible to later eliminate this negatively charged pollution particle from the environment. The main purpose of this application is to get rid of dangerous pesticides like DDT, DDD, and DDE, which are all chlorinated pesticides, from the soil. The market's expansion can be primarily attributed to the rising use of zero valent iron in applications for environmental remediation. Additionally, the increasing public awareness of the importance of environmental preservation is anticipated to spur market expansion. Over 40% of the world's population, or at least 3.2 billion people, are thought to be affected by the degradation of land and soils, according to the United Nations Environment Program (UNEP). Moreover, the growing usage of pesticides and agrochemicals across the world is predicted to boost the market growth.
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Global Zero Valent Iron Market: Key Takeaways
North America region gains the largest portion of the revenue
Granular segment to dominate the revenue graph
Soil remediation remains prominent in the application segment
Growing Government Initiatives for Environment Protection to Boost Market Growth
Additionally, a number of initiatives by governments throughout the world to prevent soil pollution and combat environmental deterioration are predicted to spur market expansion. Approximately about 28% of the world's land has been degraded and scientists recently issued a warning that unsustainable agricultural methods were mostly to blame for the annual loss of over 23 billion tons of fertile soil. By 2050, more than 96% of the Earth's land areas risk degradation if the current trend persists. Further, the rising awareness among the people and increasing initiatives by non-government organization is predicted to boost the market growth.
Further, the rising chemical consumption, which is adding to the degradation of soil and increasing the rate of pollution across the world is anticipated to propel market growth. According to the U.S. Department of Energy, with roughly one-fifth of global production, the United States is the world's biggest manufacturer of chemicals and the chemical sector contributes more than USD 226 billion. In addition to this, the increasing investment in the chemical sector by key market players and leading industrialists is estimated to drive market growth.
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Global Zero Valent Iron Market: Regional Overview
The global zero valent iron market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Pesticide Consumption to Drive Growth in the Asia Pacific Region
The market in the Asia Pacific region is anticipated to expand significantly during the projected period owing to the region's expanding chemical manufacturing sector. Additionally, the various government initiatives to reduce pollution levels across the APAC region are estimated to boost market growth, as Asia is one of the major consumers of pesticides. The FAO reports that in 2018, Asia accounted for more than 50% of the world's pesticide consumption. China used 1,774 thousand tons of insecticides overall in that same year.
Increasing Agrochemical and Pesticide Consumption to Drive Growth in the North America Region
The market in North America region is estimated to hold the largest market share over the forecast period owing to increasing consumption, manufacturing, and sales of the agrochemicals and pesticides in the region. It was observed that more than 1 billion pounds of pesticides are used in the United State every year and nearly 5.6 billion pounds are used worldwide. Moreover, the rising awareness among people regarding soil degradation and its dreading impacts, backed by increasing government initiatives are estimated to boost the market growth.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
North America (U.S., Canada)
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Zero Valent Iron Market, Segmentation by Application
Ground Water Remediation
Industrial Reducing Agent
Out of these, the soil remediation segment is estimated to hold a substantial market share over a forecast period owing to increasing awareness among the authorities and people about the adverse effects of soil pollution. Moreover, the rising level of soil degradation, backed by the growing usage of pesticides and agrochemicals is predicted to boost the segment growth. For instance, in 2019, pesticide use was estimated to be around 3 million tons per year worldwide and it has been predicted that by 2020, the consumption was estimated to reach around 4 million tons.
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Global Zero Valent Iron Market, Segmentation by Type
Out of these, the granular segment is estimated to hold a significant market share over a forecast period. To remove pollutants notably metals and various pesticides from groundwater, soils, and sediments, zero-valent iron is employed as a reductant in granular forms. Moreover, the increasing groundwater degradation and its adverse impact across the globe are estimated to boost segment growth. It is believed that cropping intensity may drop by almost 21% nationally and by around 70% in areas with low groundwater levels based on current groundwater depletion rates.
Few of the well-known market leaders in the global zero valent iron market that are profiled by Research Nester are Reade International Corp., Redox Tech, LLC, Geo-Cleanse International, Inc., C.E.R.E.S. Corporation, BASF SE, Corbion NV, Archer-Daniels-Midland Company (ADM), Lallemand Inc., GALACTIC Group, Tate & Lyle PLC, and others.
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Recent Developments in the Global Zero Valent Iron Market
In August 2022, BASF and Corteva Agriscience announced their long-term partnership to provide innovative soybean pest control strategies for farmers all over the world.
In January 2022, a construction site in Cambridge, Massachusetts was used to test the new Situ Soil Blender from Redox Tech. The new soil blender was created to offer a more potent and effective method of combining dirt. The treatment of dichloroethane in soil and groundwater was the aim of this effort.
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