Ion exchange resins market

Ion Exchange Resins Market, 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), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Jul 2022
CMI349
120 Pages
Excel & Pdf
Advanced Materials

Summary

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

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
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
Geographies covered:	Region: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Segments covered:	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
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
Growth Drivers:	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, semiconductor and microelectronics is driving the market for ion exchange resins globally.
Restraints & Challenges:	Fluctuating price of raw materials used in the manufacturing of the ion exchange resins is expected to hamper the growth the market during the forecast period.

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

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

In July 2021, DuPont announced the expansion of its ion exchange resin manufacturing production to address the high global demand for its pharmaceutical products such as excipients and active pharmaceutical ingredients (APIs). The expansion will increase capacity of DuPont’s dedicated current good manufacturing practices for pharmaceutical production units in Chauny, France.
In February 2021, 3MHealth Care launched 3M Polisher ST, an advanced, single-use AEX solution designed to replace reusable AEX (Automatic Electronic Exchange) polishing column for biologic drug manufacturing. 3M Health Care is a company offering medical, dental and orthodontic solutions, health information, and food safety and drug delivery systems. The new product was developed by 3M scientists who passionately create solutions to manufacture biologic drugs more efficiently.
In December 2020, Lanxess AG, announced the expansion of its portfolio of products in the consumer care segment to include the new Lewatit PH 1074 HEP. In addition to the decolourization of fermentation broths and sugar, the product is suited for purification and intermediate storage of heparin. Lanxess AG is German-based specialty chemicals manufacturer. The company intends to use this innovative product to tap new customers in the pharmaceutical and bioprocessing industry and further strengthen its market position.

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

Table of Content

Table of Contents

* Browse 50 market data tables* and 40 figures* on “Global Ion Exchange Resins Market” - forecast to 2030.

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What was the global ion exchange resins market size in 2021?

Global ion exchange resins market was valued at around US$ 1,389.5 Million in 2021.

What are the major factors that are expected to drive growth of the market during the forecast period?

Growing demand for water treatment chemicals coupled with the significant increase in the volume waste generated from the industry are the major factors that are expected to drive the growth of the market.

What are the trends in the market?

Growing investment by governments on infrastructure development and increasing adoption of the partnership and agreements among major players is expected to favour market growth over the forecast period.

What are the key factors hampering growth of the market?

Fluctuating price of raw materials used in the manufacturing of the ion exchange resins is expected to hamper the growth the market during the forecast period.

Which are the key players in the market?

Major players operating in the 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

What is the estimated growth rate for market?

The market is estimated to grow at around 5.7% CAGR in the forecast period (2022-2030).