Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
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.
The global ion exchange resins market is projected to surpass US$ 1900 million by the end of 2027, in terms of revenue, growing at CAGR of 5.4% during the forecast period (2020 to 2027).
Growing demand for water treatment chemicals coupled with the significant increase in the volume waste generated from the industry is expected to augment the market growth of ion exchange resins. 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 is expected to augment the market growth of the ion exchange resins. Increasing demand for semiconductor and microelectronics which consumes large quantity of ultrapure water for chip rinsing, washing, and etching process is further projected to foster the market growth of the ion exchange resins over the forecast period.
Regionally, Asia-pacific dominated the global ion exchange resins market in 2019, reporting 37% market share in terms of revenue, followed by Europe and North America, respectively.
Figure 1. Global Ion Exchange Resins Market, Revenue Share (%), By Region, 2019
Strict rules and regulations such as the European Commission and EPA have imposed various policies on restricting the use of water treatment is expected to hamper the market growth of the ion exchange resins.
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
||Market Size in 2019:
||US$ 1250 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 1900 Mn
- North America: U.S., Canada
- Latin America: Brazil, Mexico, Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific: China, India, Japan, Australia, Rest of Asia Pacific
- Middle East & Africa: South Africa, GCC Countries, Rest of Middle East & Africa
- By Product Type: Cation Exchange Resins, Anion Exchange Resins, Others
- By Application: Power Generation, Chemical & Fertilizers, Food & Beverages, Electrical & Electronics, Pharmaceuticals, Paper & Pulp, Domestic & Wastewater Treatment, Others
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., and Jiangsu Suqing Water Treatment Engineering Group Co., Ltd
- Growing demand for water treatment chemicals coupled with the significant increase in the volume waste generated from the industry
- Increasing demand for ultrapure pure water from the pharmaceutical and electronic industry
- Scarcity of the water and rising demand for fresh and clean water
|Restraints & Challenges:
- Imposition of strict rules and regulations imposed on restricting the usage of water treatment chemicals
- Fluctuating price of raw materials used in the manufacturing of the ion exchange resins
Growth in the food & beverage industry due to increasing spending by consumers and government is expected to serve major growth opportunities to the market of ion exchange resins. United States Department of Agriculture Economic Research Service, in 2018, U.S. consumers, businesses, and government entities spent US$ 1.71 trillion on food and beverages in grocery stores and other retailers and on away-from-home meals and snacks.
An increasing number of wastewater treatment plants around the globe is due to the growing demand for freshwater is expected to offer opportunities to the market growth of ion exchange resins. For instance, in October 2019 Clariant inaugurated a new state-of-the-art Waste Water Treatment Plant (WWTP) at the Industrial & Consumer Specialties (ICS) site in Bonthapally, India. The plant at the zero liquid discharge site has the capacity to treat 300 kiloliters of wastewater per day.
Figure 2. Global Ion Exchange Resins Market – Opportunity Analysis
The growing investment by the 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.
Increasing adoption of the partnership and agreements among major players for global and regional expansion is a major trend in the market. For instance, in October 2018, Fluid Technology Solutions, Inc. (FTS) a provider of membrane-based water treatment technologies, announced the commencement of a strategic partnership with Ion Exchange India Ltd. The companies together are planning to focus on providing optimized effluent wastewater reuse and Zero Liquid Discharge (ZLD) solutions to industrial customers in the fast-growing Indian market.
Figure 3. Global Ion Exchange Resins Market, Revenue Share (%), By End Use, in 2019
On the basis of end use, power generation dominated the global Ion exchange resins market in 2019 with around 25% of market share in terms of revenue, followed by domestic & wastewater treatment and chemicals and fertilizers, respectively.
Global Ion exchange resins Market - Impact of Coronavirus (Covid-19) Pandemic
Unfortunately, COVID-19 pandemic have affected almost all countries across the globe, resulting in measures such as lockdown, cease in economic activities, and temporary closures of manufacturing units, which has severely impacted water treatment activities. This has created a negative impact on the demand for ion exchange resins, globally. According to Coherent Market Insights’ analysis, during the Covid-19 pandemic, the demand for ion exchange resins declined, owing to the declining growth curve of its applications, which include agriculture, chemical, petrochemical, and electronics among others.
Key players are operating in the global ion exchange resins market are 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., and Jiangsu Suqing Water Treatment Engineering Group Co., Ltd.
Few Recent Developments
In November 2018, LANXESS has invested in its ion exchange resin production facility at the Leverkusen, Germany. The company has optimized its process technology and operating efficiency for a seven-figure EUR amount.