Ion Exchange Resins Market

Ion Exchange Resins Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Ion Exchange Resins Market grew at a CAGR of 4.4% between 2017-2021 and is estimated to be US$ 2,174.6Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.0% and is expected to reach a valuation of US$ 3,542.2Mn by 2032 end.

A polymer or resin known as “ion exchange resin” serves as a medium for ion exchange. Ion exchange resin is typically created from the polymerization of monomers like acrylic, phenolic, or styrene compounds. It is usually white or yellow. These tiny, porous beads have a lot of interior surface area.

These are mostly employed for decontamination, purification, and separation. Applications in several sectors, including power, water treatment, chemicals and petrochemicals, pharmaceuticals, and others, have much potential. It is employed in the pharmaceutical industry to extract and purify viruses, hormones, enzymes, and alkaloids.

Market Dynamic

GROWING DEMAND FOR WATER TREATMENT CHEMICALS IS DRIVING THE MARKET FOR ION EXCHANGE RESINS

The global market for ion exchange resins is driven by an increase in the demand for water treatment chemicals and a notable rise in the volume of waste produced by the sector. Over the next several years, increasing demand for ion exchange resins from the energy and power production and wastewater treatment industries is also anticipated to boost market expansion.

For the forecast period, the market for ion exchange resins is anticipated to grow due to the rising demand for ultrapure pure water from the pharmaceutical and electronic industries, semiconductors, and microelectronics, which use large amounts of ultrapure water for chip rinsing, washing, and etching processes.

STRICT RULES AND REGULATIONS ON RESTRICTING THE USE OF WATER TREATMENT

Strict laws and regulations, such as those set forth by the EPA and the European Commission, have imposed several restrictions on the usage of water treatment. Over the projected period, the market expansion of ion exchange resins is anticipated to be constrained by the fluctuating price of raw materials used in their production.

THE GROWING INVESTMENT BY THE GOVERNMENT IN INFRASTRUCTURE DEVELOPMENT IS EXPECTED TO AUGMENT THE MARKET GROWTH OF THE ION EXCHANGE RESINS

The government’s increasing investment in infrastructure expansion is anticipated to boost the market growth for ion exchange resins. The demand for freshwater is being created by the expanding industrialization and the mining industry, which is predicted to increase the market expansion of ion exchange resins. All of these elements are anticipated to promote the market expansion of ion exchange resins.

Market Segments Covered in Report

By Application:

• Water
• Non-water

By Type:

• Cationic Resins
• Anionic Resins
• Others (Adsorbent Resins & Chelation Resins)

By End-Use:

• Power
• Chemical & Petrochemical
• Food & Beverage
• Pharmaceutical
• Electrical & Electronics
• Metal & Mining
• Others (Textile, Agriculture, Wastewater Treatment, and Oil & Gas)

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why is the cationic resin segment estimated to account for the largest ion exchange resin market?

The cationic resins segment held the market’s greatest share, which is anticipated to maintain its dominance during the projected period. Cationic resins are employed in various end-use industries for the dealkalization, demineralization, and treatment of very saline water.

The demand for cationic resins for water treatment applications has expanded due to the rapid urbanization in APAC. The need for ion exchange resins is anticipated to rise across several industries as the economies of APAC, the Middle East & Africa, and South America, among other regions, improve.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• The APAC region is anticipated to hold the largest market share of 57.2% and post the highest CAGR for ion exchange resins during the forecast period. Demand for ion exchange resin in the region is driven by the steadily rising production of domestic and export uses.
• Ion exchange resins are expected to have a 20% global value share from the United States. Ion exchange resins are employed in chemical and volume control systems to monitor the volume of dissolved components in cooling circuits. Nuclear power plants account for a significant portion of the world’s resin use. The 93 atomic reactor power facilities in the United States offer a larger growing area for the market.

Competition Analysis

Major industry companies are embracing alternate distribution channels, such as the internet channel, to grow their market position in the region. Several significant market participants are investing in R&D to create technology that would lower operational costs and decrease worker risk exposure. Another area of attention for development projects is better ways to manage ores with declining grades.

While most large companies focus on sustainability, some important businesses focus on expanding their current manufacturing facilities to meet demand from the expanding chemical industry.

The key developments in the Global Ion Exchange Resins Market:

• In July 2021, to meet the growing global demand for its pharmaceutical products, such as excipients and active pharmaceutical ingredients, DuPont announced the development of its ion exchange resin manufacturing operations (APIs). DuPont’s dedicated current good manufacturing standards for pharmaceutical production facilities in Chauny, France, will be able to produce more products thanks to the expansion.
• In February 2021, a cutting-edge, one-time-use AEX system called the 3M Polisher ST was introduced by 3MHealth Care to replace reusable AEX (Automatic Electronic Exchange) polishing columns for the production of biologic drugs. 3M Health Care provides products for the medical, dental, and orthodontic fields, health information, food safety, and drug delivery systems. Scientists at 3M, passionate about developing methods to improve the production of biologic pharmaceuticals, set the new product.

A list of some of the key suppliers present in the market are:

• The Dow Chemical Company
• Lanxess AG
• Purolite Corporation
• Mitsubishi Chemical Holdings Corporation
• Thermax Limited
• Ion Exchange India Ltd
• Samyang Holdings Corporation
• Sunresin New Materials Co. Ltd
• ResinTech Inc.
• Jiangsu Suqing Water Treatment Engineering Group Co., Ltd.
• Alfa Aesar
• Purolite Corporation
• Novasep Holding
• ResinTech Inc.
• Sunresin New Materials Co., Ltd
• Bio-Rad Laboratories, Inc
• Evoqua Water Technologies

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.