Ion Exchange Resins Market: by Type (Cation Exchange Resins, Anion Exchange Resins, Chelating Resins), Raw Material (Polystyrene Copolymer, Cross-Linked Polystyrene), Matrix Structure (Porous Beads, Gel), End-Use Industry (Water Treatment, Metallurgy), Region - Till 2030

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 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. 

 Market dynamics:

 Market drivers:

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.

Market opportunities:

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.

 Market restraints:

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.

 Market challenges:

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. 

Segment overview:

Based on Type:

• Cationic resins


• Anionic resins


• Others

Based on application:

• Power


• Water Treatment


• Chemical


• Pharmaceutical


• Others

Global Ion Exchange Resins Market Share in 2017, by Raw Material

Source: MRFR Analysis

Regional 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.

Competitive landscape:

• DuPont de Nemours, Inc., (US)


• Lanxess (Germany)


• Purolite Corporation (US)


• Mitsubishi Chemical Corporation (Japan)


• Thermax Limited (India)


• Ion Exchange (India) 


• Novasep Holding (France)


• Samyang Corporation (South Korea)


• ResinTech Inc., (US)


• Sunresin New Materials Co., Ltd (China)


• Bio-Rad Laboratories, Inc. (US)

Recent developments:

May 2023: Purolite Corporation announced the acquisition of Purolite India Private Limited. The acquisition is expected to strengthen Purolite's position in the Indian market for ion exchange resins.

June 2023: Toray Industries, Inc. announced the development of a new ion exchange resin for the removal of fluoride from water. The new resin is said to be more efficient and cost-effective than existing technologies.

July 2023: Dow announced the launch of a new line of ion exchange resins for the removal of heavy metals from water. The new resins are designed to meet the stringent regulations for drinking water quality.

 Report overview:

 This report has covered:

• Market overview


• COVID 19 Analysis


• Market dynamics


• Cumulative growth analysis


• Value chain analysis


• Segment overview


• Regional analysis


• Competitive landscape


• Recent developments

 Segmentation Table:

Based on Type: 

• Cationic resins


• Anionic resins


• Others


•  

Based on application:

• Power


• Water Treatment


• Chemical


• Pharmaceutical


• Others

Report Scope:

Frequently Asked Questions (FAQ) :