Zero Valent Iron Market Size

Zero-Valent Iron Marketsize was valued at USD 743.4 Million in 2023 and is set to cross USD 1.62 Billion by the end of 2036, expanding at more than 6.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of zero valent iron is estimated at USD 784.88 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.