Ion Exchange Resins Market to 2025: Trends, Strategies and Growth with Key Players Analysis
Leading players operating in the global ion exchange resins market include the Dow Chemical Company, Purolite, Ionic Systems Ltd, ResinTech Inc., Thermax Limited, Lanxess AG, Mitsubishi Chemical Corporation, Novasep, Evoqua Water Technologies LLC, Finex Oy, Eichrom Technologies, LLC, and Ion Exchange (India) Limited. Key players are investing substantial funds into research and development of new and advanced products to gain a competitive edge over others. They are also witnesses expanding their production capacity, in a move to consolidate their positions in the years to come, notes Transparency Market Research (TMR).
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Several players are focusing on consolidating their geographic positions in various developing regions. They are increasingly tapping on vastly emerging lucrative avenues in developing markets, particularly in the developing economies of Asia Pacific.
The global ion exchange resins market is projected to expand at a CAGR of 4.9% from 2017 and 2025. The market stood at US$2.40 bn in 2016 and is forecast to reach a valuation of US$3.66 bn by the end of 2025.
Broadly, the various applications of ion exchange resins are liquid glucose, sugar refining, uranium mining, MTBE catalysis, gold mining, TAME, bisphenol A, food and beverage, industrial water treatment, ultrapure water, municipal water treatment, water softening, and pharmaceuticals. Of these, the pharmaceutical segment held the dominant share in the market in 2016 and is anticipated to retain its dominance in the next few years as well. The market is projected to expand at the leading pace over the forecast period.
The major regional markets for ion exchange resins are North America, Europe, and the Middle East and Africa, Latin America, and Asia Pacific. Of these, Asia Pacific leads the global market, driven by the rising demand for nuclear electricity and the rapid pace of urbanization in several of its economies. The substantial consumer spending power is a crucial factor supporting the growth of the regional market. A major chunk of demand for ion exchange resins is expected to come from countries such as India and China.
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Rising Uptake in Wastewater Treatment Industry Boosting Market
The rapid strides being made by the water and wastewater treatment industry in various parts of the world is a key factor driving the market. The rising adoption of ion exchange resins in municipal water treatment is a notable factor accentuating the growth of the market. The demand for treatment technologies is accentuated by a burgeoning volume of sewage water, particularly in a number of industrialized nations. In addition, improper disposal of garbage is accentuated the need for processes for purifying contaminated water in various regions. Furthermore, the rapid pace of industrialization is another significant factor boosting the market. The demand for adequate quality of water in light to heavy industries is stoking the demand for treatment technologies of water containing ion exchange resins. In addition, the burgeoning demand for processed water in several industries is boosting the market over the forecast period.
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