- Rigorous regulations towards water conservation and the scarceness of freshwater are expected to drive the growth of the ion exchange resins market
- Market Size - USD 1.57 Billion in 2019, Market Growth - CAGR of 5.34%, Market Trends - Product Launches and Research for Advanced Tech Developments
NEW YORK, Oct. 30, 2020 /PRNewswire/ -- Based on our latest analysis, the Global Ion Exchange Resin Market was valued at USD 1.57 billion in 2019 and is expected to reach USD 2.28 billion by 2027, at a CAGR of 5.34%. An ion exchange resin or polymer is a resin or polymer that works as a medium for ion exchange. These beads generally provide a large surface area on and inside them. These beads are typically porous. Ion exchange is a process where ions are trapped, occurring with the accompanying release of other ions. There are numerous types of ion exchange resins. Usually white or yellowish, fabricated from an organic polymer substrate, an ion exchange resin is an insoluble matrix (or support structure) normally in the form of small (0.25-0.5 mm radius) microbeads. Ion exchange resins have the capacity to eliminate chlorine, organic mixtures, and radioactive foundations such as uranium and lanthanum, resulting in increasing application scope in chemical processing, food & beverage, wastewater treatment, power generation, electronics, and mining.
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Typical applications of ion exchange resins are water softening and water purification. Intensifying consciousness towards purification and softening of water is also being observed in industrial claims is projected to have a vital role in driving the ion exchange market. Owing to technological progressions and exceptional efficiency, consumer preferences are shifting towards ion exchange resins from conventional resins. Rigorous regulations towards water conservation and the decreasing availability of freshwater is expected to drive the growth of the ion exchange resins market. Other than these market drivers, there are few drawbacks which may hamper the market growth in the coming years. Drawbacks predominantly include chlorine contamination and organic contamination of resins. Clearance of spent ion exchange resins is being governed by rules and regulations to ensure that they do not cause any harm.
The UN World Water Development Report of 2018 said that around 6 billion people would face clean water scarcity by the year 2050. Ion exchange is primarily used to prepare high purity water for industrial applications, recovery or removal of metals in the chemical industry, and water softening. These benefits would propel the growth of the industry in the coming years due to the rising scarcity of freshwater resources across the globe.
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Key findings from the report
- Only 60% of the industrial wastewater is treated, while roughly 40% of the treated water does not conform to the prearranged standards.
- In the case of sewage treatment, the situation is excessively stern, as globally, urban areas have the capacity to treat just 37% of the sewage generated.
- The municipal water treatment sector is expected to witness a major demand for ion exchange resins, mainly because it removes impurities to the maximum extent possible.
- The power segment is likely to lead the ion exchange resin market with a market share of 47.6% during the forecast period among the end-use industries due to environmental regulations by various water treatment industries and the rising number of nuclear power plants in various countries
- Asia Pacific is expected to register the highest growth during the forecast period, at a CAGR of 5.6%, owing to the qualitative as well as quantitative market potential in developing nations such as China & India.
- The leading companies in the industry include DowDuPont Inc. (U.S.), Purolite Corporation (U.S.), Mitsubishi Chemical Corporation (Japan), LANXESS AG (Germany), Ion Exchange (India) Ltd. (India), Thermax Ltd. (India), and Resin Tech Inc.
- Mitsubishi Chemical Corporation has started selling river water treatment systems to public and private sectors in Myanmar, where the economic growth is anticipated to drive the demand for safe drinking water
- Dow Chemical Company launched next-generation ion exchange resins, re-engineered specifically to attain efficient industrial water treatment. Such launches are proving to be lucrative for the growth of the ion exchange resins market
- On 14thSeptember 2020, Cyclopure, Inc. published a study in Environmental Science & Technology, which found that its cyclodextrin-based adsorbents called DEXSORB+ and DEXSORB gave a better performance than ion exchange resins in removing PFAS from water. The development of such absorbents and other better-performing materials might hinder the growth of the market in the coming years.
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For this report, Reports and Data has segmented the Ion Exchange Resin Marekt Report into the categories of type, application, end-use, and region:
Type Outlook (Revenue in USD Million; 2017-2027)
- Cationic Resins
- Anionic Resins
- Others
Application Outlook (Revenue in USD Million; 2017-2027)
- Water softening
- Water purification
- Metal purification
- Purification of antibiotics
- Catalysis
- Other
End-Use Industry Outlook (Revenue in USD Million; 2017-2027)
- Power
- Chemical & Petrochemical
- Water & Wastewater Treatment
- Food & Beverage
- Pharmaceutical
- Electrical & Electronics
- Metal & Mining
- Others
Regional Outlook (Revenue in USD Million; 2017-2027)
- North America
- U.S
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Latin America
- Brazil
- Middle East & Africa
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