Zero Valent Iron Market - Regional Analysis
APAC Market Insights
Asia Pacific industry is predicted to hold largest revenue share by 2035, on the back of 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 Insights
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 Insights
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.
