Global Ion Exchange Resins market is estimated to be valued at US$ 1,389.5 Million in 2021, according to the Global Ion Exchange Resins Market Report, 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), published by Coherent Market Insights.
Global Ion Exchange Resins market was valued at US$ 1,389.5 Million in 2021and is expected to register a CAGR of 5.7% over the forecast period (2022–2030). The Asia Pacific region is expected to dominate market over the forecast period and is projected to be the largest and fastest-growing region.
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Key Trends and Analysis of the Global Ion Exchange Resins Market:
- Growth in the urban populations coupled with the increasing importance of the recycle and reuse of water is expected to stimulate the market growth of ion exchange resins. Growth in the population is also creating demand for freshwater along with the growing end-use industries across developing regions is driving the ion exchange resins market.
Key Takeaways of the Global Ion Exchange Resins Market:
- Rise in the power generation sector which consumes a large amount of fresh water is expected to serve potential growth opportunities to the market growth of ion exchange resins. According to the India Brand Equity Foundation, the total installed capacity of power stations in India stood at 368.68 Gigawatt (GW) as of January 2020. Electricity production reached 1,050.78 BU in 2020 up to January 2020. Thus, growth in the power generation sector is projected to augment the market growth of the ion exchange resins.
- Asia Pacific is projected to be the largest and fastest growing market for ion exchange resins over the forecast period. Growing food and pharmaceutical industries in this region is driving the market for ion exchange resins. Ion-exchange resins have found use in pharmaceuticals as inactive ingredients, particularly as disintegrates (inactive tablet ingredients whose function is to rapidly disrupt the tablet matrix on contact with gastric fluid). Topical products for local application to the skin, such as those where drug flux is controlled by a differential electrical current, have also used ion-exchange resins (iontophoresis delivery).
- North Americais expected to be the most lucrative region for the ion exchange resins market. This is due to a rise in demand for ion exchange resins from end-use industries such as pharmaceuticals, mining, and nuclear power. In addition, rising investments in the pharmaceutical sector in the U.S. are expected to boost demand for ion exchange resins in the coming years, boosting the market growth.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global Ion Exchange Resins market