ION EXCHANGE MEMBRANE MARKET ANALYSIS

The global ion exchange membrane market size was valued at USD 833.7 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 4.38% from 2022 to 2030. Growing concern over the environmental sustainability is augmenting ion exchange membrane market. Moreover, ion exchange membranes are increasingly being used in water treatment as they provide high energy efficiency and low maintenance costs. Applications for ion exchange membranes include electrolysis, hydrogen production, water treatment, and desalination. Increasing use of these membranes in these applications is resulting in the demand for high-performance, compact membranes. As a result, the ion exchange membrane market is expected to increase at a steady growth rate in the next few years.

Global Ion Exchange Membrane Market: Regional Insights

Regionally, the Asia Pacific region dominated the global ion exchange membrane market during the past few years, and is expected to continue dominating the market during the forecast period. This region is expected to dominate the market during the forecast period, primarily due to the rising demand for water treatment. Demand for the product is rising in this region due to government policies and increased demand for sanitation and drinking water. In addition, the rapid urbanization in China is expected to fuel the market growth.

North America is projected to witness fastest growth in the global market over the forecast period owing to the high presence of water treatment plant in the region. As of 2019, the United States had an estimated 14,748 publicly owned treatment works (POTWs) that serve about 239 million people. The wastewater treatment plants are particularly common in the southwest region of the United States.

Figure 1. Global Ion Exchange Membrane Market Value Share (%), By Region, 2021

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Global Ion Exchange Membrane Market Drivers:

Growing demand from healthcare industry is primarily fueling growth of the global ion exchange membrane market. Ion-exchange resins are majorly used to manage complications associated with chronic kidney disease. According to National Kidney Foundation, around 10% of the population worldwide is affected by chronic kidney disease (CKD). Around 4.35 million people worldwide currently receive treatment with dialysis or a kidney transplant.

Increasing demand from energy storage sector is again projected to foster market growth. Energy storage systems are widely used in solar, thermal power plants, and hydro power plants According to the forecast by World Energy Outlook - International Energy Agency, more than 2,457 gigawatt (GW) of power capacity is likely to be installed, worldwide, over the next 25 years.

Global Ion Exchange Membrane Market Opportunities:

Growing demand for fuel cell is projected to provide lucrative growth opportunities over the forecast period in the near future. For instance, in September 2020, Ballard Power Systems in concert with Audi, announced the development of a new fuel-cell stack for light, medium, and heavy-duty vehicles. Similarly, in September 2020, the Australian government, as part of a USD 1.9 billion investment in new energy technologies, announced the development of a new hydrogen export hub worth USD 70 million.

Increasing investment in ion exchange membrane is again projected to serve potential growth opportunities over the forecast period. In July 2019, Natural Resource Canada, through its Clean Growth Program, invested around CAD 492,500 in a research and development program that aims to develop copper hydrometallurgical technology, which is eco-friendly. This program is likely to provide major opportunities for ion-exchange membrane usage in metal extraction applications in the country.

Global Ion Exchange Membrane Market Trends:

Increasing desalination treatment plant is a growing trend in the market. Desalination treatment is rising at a steady rate owing to water scarcity issues. According to the International Desalination Association, globally, more than 300 million people now get their water from desalination plants.

Continuous launch of new product due to ongoing innovation is another major trend observed in the market. For instance, in 2019, the Chemours Company launched a new Nafion membrane (a perfluorocarbon ion exchange membrane) for fuel cells. The company’s The Nafion product line is considered as the industry standard for ion-exchange membranes, providing superior chemical stability, thermostability, durability, and mechanical strength. Nafion ion-exchange membranes are considered to be uniquely positioned to address emerging energy-generation applications.

Global Ion Exchange Membrane Market Restraints:

Growing health concerns due to contamination is projected to hamper the market growth. For instance, ion exchange membranes are highly prone to contamination on exposure to bacteria or non-ionized organic matter.

Unfavorable condition arising due to Covid-19 impact on the global economy is projected to hinder the market growth. Due to the lockdown, all economic activities, except medical shops, hospitals, and ration stores came to a temporary standstill. This led to a temporary halt in the global production and a decline in the demand for ion exchange membrane.

Figure 2. Global Ion Exchange Membrane Market Value Share (%), By Material, 2021

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Global Ion Exchange Membrane Market Segmentation:

The global ion exchange membrane market report is segmented into material, charge, application, and geography

Based on material, the market is segmented into Hydrocarbon Membrane, Perfluorocarbon Membrane, Inorganic Membrane, Composite Membrane, and Partially Halogenated Membrane. Out of which, Perfluorocarbon Membrane is expected to dominate the global market over the forecast period and this is attributed to their high chemical stability and excellent electrochemical propertiesin electrodialysis and electrolysis.

Hydrocarbon Membrane segment is also expected to witness significant growth in the near future. It is used to cover hydrogen and renewable fuels in AEM water electrolysis. It is also used in advanced battery solutions for metal-air, lithium-sulfur, flow batteries, and nickel-metal hydride.

Based on charge, the market is segmented into Cation, Anion, Amphoteric Ion, Bipolar Ion, and Mosaic Ion. Out of which, Cation is expected to dominate the global market over the forecast period and this is attributed to the growing demand from zinc-air battery applications.

Anion segment is also expected to witness significant growth in the near future. According to the Coherent Market Insights analysis, Anionic accounted for the largest market share in the global ion-exchange market in 2019. It is gaining prominence due to its potential use as non-precious catalysts

Based on application, the market is segmented into Electrodialysis, Electrolysis, Storage Batteries, Water Treatment, and Other Applications. Out of which, Electrodialysis is expected to dominate the global market over the forecast period. Electrodialysis not only makes the process energy-efficient and cleaner but also mends useful effluents that are now going to wastes. Moreover, it can separate organic materials from salt effectively, as it only allow ionic materials to pass through the ion exchange membrane.  

Electrolysis segment is also expected to witness significant growth in the near future and this is owing to the growing production of caustic soda, chlorine, and other chlorine and sodium derived products, such as hydrochloric acid, sodium hypochlorite, chlorosulphonic acid, polyaluminum chloride, bleaching power, hydrogen gas, and chlorinated paraffin. It is also used in the production of hydrogen.

Global Ion Exchange Membrane Market: Key Developments

In May 2019, Ionomr Innovations announced its plan to raise an additional USD 3 million in seed financing to advance the development, manufacturing, and expansion of its ion-exchange membranes and polymer products.’

In December 2019, CAPLINQ Europe BV signed an agreement to represent Ionomr’s innovation products (AEMION and PEMION) in Europe.

Global Ion Exchange Membrane Market: Key Companies Insights

The global ion exchange membrane market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global ion exchange membrane market are AGC ENGINEERING Co. Ltd, Dioxide Materials, Fujifilm Corporation, Ion Exchange, Ionomr Innovations Inc., Liaoning Yichen Membrane Technology Co. Ltd, Membranes International Inc., Merck KGaA, ResinTech, Saltworks Technologies Inc., SnowPure, LLC, SUEZ, The Chemours Company, and 3M

*Definition: An ion exchange membrane is a device that uses two electrodes to separate two biological samples. The electrodes are charged with an electrical potential, which attracts the ions. A gradient in the electric potential drives biological sample concentration.