The global ion exchange resins market size is projected to register a CAGR of 4.2%, in terms of value, between 2020 and 2025. The global ion exchange resins market size is projected to grow from USD 1.8 billion in 2020 to USD 2.2 billion by 2025, at a CAGR of 4.2%, between 2020 and 2025. Urbanization in APAC, increasing demand for nuclear electricity generation in emerging economies, and stringent environmental regulations are the major growth drivers of the global ion exchange resins market. Pharmaceutical, food & beverage, and electrical & electronics industries are projected to register the highest growth in the next five years, thereby boosting market growth. Increasing population, growing urbanization and evolving manufacturing sector, need for water conservation, and stringent regulations are the major factors that are projected to drive the ion exchange resins market during the forecast period. Furthermore, volatility in raw material prices and increasing competition from reverse osmosis process are the factors restraining the market growth.
The other types segment is expected is expected to register the highest CAGR of the overall ion exchange resins market during the forecast period. Chelation resins and adsorbent resins are included in the others segment.Chelation resins are commonly used to remove metals, such as lead, copper, and zinc, in the metal processing industries.
Adsorbent resins are mainly used in industrial applications to modify physio-chemical characteristics of liquids.These resins are suitable for adsorption of specific organic molecules from food and nonfood liquids.
They have several applications in the food industry concerned with the removal of undesired organic substances and recovery of valuable organic substances.
The ion exchange resins market in the power industry is projected to account for the largest share during the forecast period. The power industry has witnessed significant growth over the past few years, which is attributed to the growing demand for electricity from various countries.The governments, worldwide, are encouraging various industries, including food & beverage, chemical, and primary metal to reduce their carbon footprints and switch to renewable and nuclear energy sources.
Nuclear energy is the second-fastest-growing source of energy.Various nuclear-related projects are estimated to be executed in the next 10 years across the globe, thereby, directly boosting the ion exchange resins market in the power industry.
In addition, China and India are also increasing their presence in the nuclear power generation segment with the installation of various nuclear energy-based power plants. These trends are expected to boost the demand for ion exchange resins in power end-use industry during the forecast period.
APAC ion exchange resins market is projected to register the highest CAGR during the forecast period. The APAC market is segmented into China, India, Japan, South Korea, Australia, Taiwan, Thailand, Indonesia, and Rest of APAC.China is the market leader in APAC for ion exchange resins.
Major fuel sources in the country are fossils and renewables.High growth in electricity demand has given rise to power shortages, while the dependency on fossil fuels has led to increased air pollution.
Hence, the government is planning to reduce its dependence on fossil fuels and hydro resources leading to the rise in the demand for nuclear energy, which, in turn, will boost the market of ion exchange resins in the country. Furthermore, with the growing nuclear industry, there has been a scarcity of freshwater, which is leading to high demand for ion exchange resins in the country.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the ion exchange resins market, and information was gathered from secondary research to determine and verify the market size of several segments and subsegments. • By Company Type: Tier 1 – 60%, Tier 2 – 30%, and Tier 3 – 10% • By Designation: C Level – 30%, D Level – 60%, and Others – 10% • By Region: Europe – 20%, North America – 35%, APAC – 30%, South America- 5%, and the Middle East & Africa – 10%
The key companies profiled in this report are DuPont de Nemours, Inc., (US), Lanxess (Germany), Purolite Corporation (US), Mitsubishi Chemical Corporation (Japan), Thermax Limited (India), Ion Exchange (India) Ltd. (India), Novasep Holding (France), Samyang Corporation (South Korea), ResinTech Inc., (US), and Bio-Rad Laboratories, Inc. (US).
Research Coverage: This report provides a detailed segmentation of the ion exchange resins market based on type, application, end-use industry, and region.Based on type, the ion exchange resins market has been segmented into cationic resins, anionic resins, and others.
Based on application, the market has been segmented into water and non-water.Based on end-use industry, the market has been segmented into power, chemical & petrochemical, food & beverage, pharmaceutical, electrical & electronics, metal & mining, and others.
Based on region, the market has been segmented into APAC, Europe, North America, South America, and the Middle East & Africa.
Key Benefits of Buying the Report From an insights perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
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