ID: MRFR/CnM/4575-HCR | February 2021 | Region: Global | 100 pages
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 resins are the polymers that perform the ion exchanges, which are not chemical reactants on themselves but facilitate the exchange reactions. Therefore the water treatment procedures and the industrial water purification purposes utilize the ion exchange resins to remove chlorine and other organic compounds. The increasing demand for energy and water for industrial purposes are considered as the major drivers of ion exchange resins market growth. Moreover, drug manufacturing and water recycling procedures are gaining momentum in recent times and thereby propelling the overall growth of the Ion exchange resins industry.
Therefore the Ion exchange resins market growth is expected to reach over USD 2.2 billion by the year 2025 while registering a CAGR of 4.2% during the forecast period. The major applications like metal finishing, sugar and sweetener production activities, and food processing are expected to propel the overall growth of the Ion exchange resins industry during the forecast period.
COVID 19 Analysis:
COVID 19 has brought in several disruptions across varied industrial applications. The manufacturing verticals have reduced their production rate, including automotive, electronics, and electrical industries. However, the major end-user industries of the ion exchange resins industry such as the chemical industry, petrochemical industry, pharmaceutical industry, food, and beverage industry, and significant others were rapidly increasing during the pandemic. Therefore the ion exchange market growth remained unaffected by the pandemic. However, the reduced labor and restrictions at the manufacturing unit have significantly reduced the production rate.
The ion exchange resins are intensively used in varied end-use industries because of their favorable characteristics such as cost-effectiveness, less waste generated, and surging demand. Moreover, the industries are bringing in new products in the industry that are much safer to work with for the personnel and the environment. Other new products are made for specific applications. Such factors are expected to boost the overall growth of the ion exchange resins industry.
The increasing demand across the food and beverage industry, chemical industry, water treatment industry, industrial water treatment plants, and significant others are considered as the major drivers of ion exchange market growth.
The reverse osmosis and the water purification techniques are increasingly adapted in commercial and residential applications. Especially the industrial water is expected to be intact for the specific applications. The ion exchange resins are used to remove chlorine, organic compounds, and significant other element and are prepared before industrial usage. Such factors are expected to propel the overall growth of the ion exchange resins industry during the forecast period.
The increasing scope of the end-user industries such as the chemical industry, wastewater treatment, power generation, and water treating industries are expected to increase the ion exchange resins market value during the forecast period. The development in obtaining power from renewable resources like wind energy, hydropower, and biogas is expected to promote the overall growth of the ion exchange resins industry during the forecast period.
The contamination of the ion exchange resins and the waste generated during the processes are considered as the major restraints of ion exchange resins market growth.
The carcinogenic nature of the resins, for instance, the SBA resins that are found in recent times, is identified to have thiourea which is a suspected carcinogen. Therefore they are not utilized in the new operations. The majority of the operations are reluctant to the strong base resins.
Strict regulations imposed by the developed countries, for instance, The European Commission and EPA and significant other policies regarding the water treatment standards and the repeatability of these processes are considered as the primary challenges for ion exchange resins market growth.
The fluctuation in the price of the raw materials used for the manufacturing of these resins and the processes involved are time-consuming and labor-intensive. Such factors are considered as the primary challenges for ion exchange resins market growth.
Cumulative growth analysis:
The ion exchange resins market value was at USD 1.8 billion in the year 2020 and it is expected to surpass the market value of over USD 2.2 billion by the year 2025 while registering a CAGR of 4.2% during the forecast period. The market value of the Ion exchange resins because of the higher demand across power, water treatment, and chemicals, petrochemical, and pharmaceutical industries. Moreover, the industrial and commercial requirement is propelling the water demand. However, the price of the ion exchange resins is highly influenced by the oil industry, because these polystyrenes are reliant on the oil industry. The majority of the end-user industries including food and beverages, chemicals, wastewater treatment, electrical and electronics are productive intensive and the demand for ion exchange resins always remains higher. Such factors are considered as the major drivers of ion exchange resins market growth.
Other than water treatment purposes, the resins are used in the chemical industries to analyze, separation and concentrate ionic substances. Since the ion exchange resins are considered effective catalysts. They are intensively used in esterification and hydrolysis reactions. They are also used to separate the metal traces effectively. Such applications are expected to bolster the overall growth of the ion exchange resins industry during the forecast period.
Value chain analysis:
The demand for de-alkalization, demineralization, and saline water treatment is increasing and the growing population and the industrial requirements are propelling the overall growth of the ion exchange resins market growth. For instance, cationic resins are used for these water purification processes. The regions with a higher number of industries are presenting lucrative opportunities for the ion exchange resins market growth. Therefore, the Asia-pacific region is exhibiting higher demand for cationic resins.
Several end-user industries that require water for their industrial purposes are showcasing higher demand for ion exchange resins. Among several industries, the power generation, chemical industry, petrochemical industry, and significant others are propelling the overall growth of the ion exchange industry. Since energy generation and power requirements are higher in every part of the world, the utilization of ion exchange resins is increasing.
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Global Ion Exchange Resins Market Share in 2017, by Raw Material
Source: MRFR Analysis
Currently, North America is expected to dominate the ion exchange market growth because of the growing demand for ion exchange resins in the industries such as pharmaceutical, mining, and nuclear power. Also, the key market players across the region are significantly increasing their investment in these industries and thereby presenting lucrative opportunities for ion exchange market growth during the forecast period. However, the Asia-pacific region is also projecting a higher market share during the forecast period, which is due to the increasing industrialization across the region and the growing awareness regarding wastewater treatment. The increasing consumption of water for the industries, plastic recycling industries, and other key manufacturing facilities are expected to increase the water demand.
Moreover, the manufacturers are focused on conserving water for industrial and agricultural purposes. Therefore the awareness had increased for conserving water had increased in recent times. Such factors are expected to impact the ion exchange resins market growth during the forecast period. Additionally, the countries like China, India, and Indonesia are taking stringent regulations for the water management systems and providing support for the growth of pharmaceutical and chemical industries. Such factors are also expected to bolster the ion exchange resins market growth across the Asia-pacific region.
One of the recent developments in the industry is the Strong base anion exchange resin which is used for the gold extraction process. This invention has ammonium functional groups with positive charges and is hence used in vital industrial operations.
In the year 2019, one of the leading market players, Lanxess AG had declared about their investment in expanding their industry and they are focusing on optimizing the process technologies.
This report has covered:
Based on Type:
Based on application:
|Market Size||2030 : Significant value|
|CAGR||2022-2030 : Substantial CAGR|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Raw Material, Matrix Structure, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||DowDuPont Inc. (U.S.), Ionic Systems Ltd. (UK), Purolite (U.S.), Mitsubishi Chemical Corporation (Japan), Lanxess AG (Germany), Ion Exchange (India), Thermax Global (India), Novasep Holding (France), SAMYANG CORPORATION (South Korea), Samco Technologies, Inc. (U.S.), and Thermo Fisher Scientific (India).|
|Key Market Opportunities||The growth in the power industry on account of surging demand for electricity in developing as well as developed countries are expected to have a positive impact|
|Key Market Drivers||Growing applications of ion exchange resins in the pharmaceutical and food & beverage industry are also expected to drive the market growth|
Frequently Asked Questions (FAQ) :
Water treatment or demineralization is expected to drive the global ion exchange resins market.
The global ion exchange resins market growth can be impeded owing to strict regulations enforced by federal environment regulation agencies.
The APAC region is expected to be highly lucrative for the global ion exchange resins market due to its application in industrial and water treatment.
North America is the second-best region of the global ion exchange resins market owing to massive demand in food & beverages and pharmaceuticals.
Ion Exchange, Samco Technologies, Inc., Thermax Global, SAMYANG CORPORATION, Novasep Holding, Lanxess AG, DowDuPont Inc., Thermo Fisher Scientific, Purolite, Mitsubishi Chemical Corporation, and Ionic Systems Ltd. are key players of the global ion exchange resins market.