Ion exchange resins are used in the purification and softening of water applications across various industries. They are capable of eliminating chlorine, a radioactive element, and organic compound from the water which can be further used for various industrial purposes. Food & beverage, chemical processing, power generation, electronics, wastewater treatment, and mining are some of the major end users of the ion exchange resins.
Global ion exchange resins market was valued at US$ 1,389.5 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.7% during the forecast period (2022 to 2030).
Drivers
Growing demand for water treatment chemicals coupled with the significant increase in the volume waste generated from the industry is driving the market for ion exchange resins globally Growing demand for ion exchange resins from energy &power generation and wastewater treatment process industries is further expected to foster the market growth of the ion exchange resins over the foreseeable time period.
Increasing demand for ultrapure pure water from the pharmaceutical and electronic industry, semiconductor and microelectronics which consumes large quantity of ultrapure water for chip rinsing, washing, and etching process is expected to drive the market growth of the ion exchange resins over the forecast period.
Among region, Asia Pacific held a dominant position in market in 2021, and is expected to maintain its dominance throughout the forecast period. The growing demand for ion exchange resins is being driven by the region's continuous increase in ion exchange resin production for use within the region and exports. Furthermore, a rising population and expanding end-use industries have spurred innovation and development, transforming the Asia Pacific region into a major global industrial hub.
Figure 1. Global Ion Exchange Resins Market Value Share (%), By Region, 2021
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Market Restraints
Strict rules and regulations such as the European Commission and EPA have imposed various policies on restricting the use of water treatment. The fluctuating price of raw materials used in the manufacturing of the ion exchange resins is expected to restrict the market growth of the ion exchange resins over the forecast period.
Ion Exchange Resins Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2021 | Market Size in 2021: | US$ 1389.5 Mn |
Historical Data for: | 2017-2021 | Estimated Year: | 2022 |
Forecast Period 2022 to 2030 CAGR: | 5.7% | Forecast Period: | 2022-2030 |
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Companies covered: |
The Dow Chemical Company, Lanxess Ag, Purolite Corporation, Thermax Limited, Ion Exchange India Ltd., Samyang Holdings Corporation, Mitsubishi Chemical Holdings Corporation, Sunresin New Materials Co. Ltd., ResinTech Inc., Novasep Holding, Samyang Corporation, Bio-Rad Laboratories Inc. and Jiangsu Suqing Water Treatment Engineering Group Co., Ltd |
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Restraints & Challenges: |
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Market Trends
The growing investment by government on infrastructure development is expected to augment the market growth of the ion exchange resins. Growth in the mining industry coupled with the growing industrialization is creating demand for freshwater is further expected to accelerate the market growth of the ion exchange resins. All these factors are expected to foster the market growth of the ion exchange resins.
Figure 2. Global Ion Exchange Resins Market Value Share (%), By Application, 2021
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On the basis of application, power generation holds the largest market share in the year 2021. In nuclear power plants, ion exchangers are also important components in the chemical and volume control system (CVCS) that controls and monitors water volumes and dissolved constituents in the cooling circuits.
Recent Developments
Competitive Section
Major players operating in the global ion exchange resins market include The Dow Chemical Company, Lanxess Ag, Purolite Corporation, Thermax Limited, Ion Exchange India Ltd., Samyang Holdings Corporation, Mitsubishi Chemical Holdings Corporation, Sunresin New Materials Co. Ltd., ResinTech Inc., Novasep Holding, Samyang Corporation, Bio-Rad Laboratories Inc. and Jiangsu Suqing Water Treatment Engineering Group Co., Ltd
Frequently Asked Questions
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