Ion Exchange Resins Market overview:
Ion Exchange Resins Market is expected to surpass the market value of over USD 2.2 billion by the year 2030 while registering a CAGR of 4.2% during the forecast 2030.
Ion exchange (IX) resins find high application scope in diverse end-use industries ranging from industrial & municipal water treatment and hydrometallurgy & metal finishing to food & beverages, pharmaceutical, and power generation. Extensive usages of IX resins for water treatment a key growth driver of the global ion exchange resins market.
Also, rapid industrialization is promoting the extensive use of Ion exchange resins globally, further presaging the galvanizing growth the market is poised to witness in the recent future. According to Market Research Future (MRFR), the global Ion exchange resins market is poised to witness substantiating growth by 2030. In its recently published report, MRFR also asserts that the market would register a moderate CAGR throughout the forecast period (2021-2030).
A proper water treatment program is essential in various industries, to protect the boiler and steam system from corrosion and thereby to save the high maintenance costs. This process also improves energy efficiency, reduce carbon emissions, and minimizes the consecutive use of treatment chemicals. This commutatively helps in lowering the total cost of plant ownership and maximize productivity.
Increasing ecological concerns and depleting water reservoirs worldwide are further prompting the need to use the remaining reserves wisely and smartly. Besides, huge demand from the end-user industries such as F&B, municipal water treatment, O&G, and energy is expected to support the market growth in the years to come.
On the other hand, stringent regulations by the European Commission and EPA against the use of chemicals in water treatment for industrial, commercial, and institutional applications are expected to obstruct the market growth considerably. Nevertheless, the growth in the power industry on account of surging demand for electricity would support the growth of the market, impacting the market growth, positively.
Ion Exchange Resins Market Segmentations
The report is segmented into five market dynamics to widen the scope of understanding,
By Type : Anion Exchange Resins, Cation Exchange Resins, Mix Bed Resins, Adsorbent Resins, and Chelating Resins, among others.
By Raw Material: Polystyrene Copolymer, Polyacrylic Copolymer, and Cross-Linked Polystyrene, among others.
By Matrix Structure: Beads, Microporous Beads, Gel, Powder, and Sheet, among others.
By End-use Industry: Water Treatment, Hydrometallurgy & Metal Finishing, Food & Beverages, and Pharmaceutical, among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Ion Exchange Resins Market Geographical Analysis
The Asia Pacific region is expected to continue its lead in the global ion exchange resins market throughout the forecast period. This exponential growth attributes to the growing demand from end-use industries, including hydrometallurgy & metal finishing and food & beverages. Moreover, growing application of ion exchange resins in industrial & municipal water treatment industry,
power industry, pharmaceutical, and electronics would foster the regional market growth in the future.
Led by the expanding production capacities in the region, the highly focused, APAC ion exchange resins market is projected to witness substantial investments, automation, and expansion. Additionally, many food & beverages, and pharmaceutical production bases present in India, China, Japan, and South Korea are, in turn, expected to drive the ion exchange resins market in the region, witnessing the increasing sales.
The ion exchange resins market in North America takes the second lead. The region is further expected to show considerable demand over the forecast period. The market growth is led by end-use industries, such as the chemical industry, hydrometallurgy & metal finishing, F&B, and the pharmaceutical industry.
The Europe ion exchange resins market is emerging as a promising market attributing to the augmenting penetration of end-user industries. Augmenting demand from the mining industry, chemical industry, microelectronics industry is expected to drive the ion exchange resins in the region over the forecast period, acting as a major tailwind.
Besides, the specific norms on carbon emission of regulatory bodies, such as REACH have risen the awareness toward the benefits the ion exchange resins offer in the energy-saving operations.
Global Ion Exchange Resins Market Competitive Landscape
Highly competitive, the ion exchange resins market appears to be fragmented due to several matured & small key players form a competitive landscape, alongside, the new entrants. These players try to gain a competitive advantage through strategic initiatives such as mergers & acquisitions, expansion, collaboration, and product/technology launch. Substantial investments are transpired in R&D to develop an entirely different technology compared to their competition.
Major Players
Players driving the global ion exchange resins market include Ionic Systems Ltd. (UK), DowDuPont Inc. (US), Purolite (US), Lanxess AG (Germany), Mitsubishi Chemical Corporation (Japan), Ion Exchange (India), Novasep Holding (France), Thermax Global (India), Samyang Corporation (South Korea), Thermo Fisher Scientific (India), and Samco Technologies, Inc. (US), among others.
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Industry/Innovation/Related News:
July 23, 2019 ---- The US Air Force announced that it has diverted over USD 66 MN from other environmental clean-up efforts to address contamination by per- and poly-fluoroalkyl substances and more than USD 35 MN of that funding has been dedicated to mitigation efforts at the former Pease Air Force Base in Portsmouth.
A sum of USD14,716,196 is earmarked for a cooperative agreement to add ion exchange (IX) resins and granular activated carbon (GAC) to the Portsmouth-owned Grafton Road drinking water plant. The IX resins plant would be operational by December 2020, whereas, the new GAC is to be functional by the end of 2019.
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