According to the latest market study released by Technavio, theglobal ion-exchange resins market is expected to grow at a CAGR of more than 5% during the forecast period.
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Technavio has published a new report on the global ion exchange resins market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global Ion-exchange Resins Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Ion-exchange resins are widely used in power and water treatment industries. The use of these resins in the pharmaceutical and chemical industries is increasing in recent years and is expected to witness notable opportunities during the forecast period. In 2016, the power and water treatment segment accounted for most the share in terms of revenue due to high consumption.
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Technavio's analysts categorize the global ion-exchange resins market into five major segments by end users. They are:
- Power
- Water treatment
- Chemical
- Pharmaceuticals
- Others
The top three segments based on end-users for the global ion-exchange resins market are discussed below:
Global ion-exchange resins market for power segment
In the power end-user segment, ion-exchange resins are widely used in various processes such as demineralization, condensate polishing, and treatment of radioactive waste in the nuclear power plants. These resins are crucial in nuclear power sector due to the benefits such as effective removal of radioactive waste from nuclear plants and minimizing waste discharge through feed water.
According to Mahitha Mallishetty, a lead metals and minerals research analyst from Technavio, "The increasing need for electricity from developing countries due to population growth and rapid urbanization has triggered the demand for power generation from nuclear plants. The share of nuclear energy in the global gross commercial electricity generation sector has been stable in recent years, accounting for almost 11% in 2015
Global ion-exchange resins market for water treatment segment
The scarcity of potable water and rising awareness regarding health have increased the acceptance of water purification systems, which require ion-exchange resins. These resins are extensively used for treating water in industries owing to the factors such as energy efficiency and lower cost when compared with other conventional physical and chemical water treatment applications.
"These resins are also widely used for treating municipal water in developing countries of APAC and ROW. In recent years, ion-exchange resins are also gaining prominence in household water purifiers; these resins are being used in cartridges, thereby increasing their demand," says Mahitha.
Global ion-exchange resins market for chemical segment
In the chemical industry, ion-exchange resins are used as a catalyst, for separation of metals, brine purification or decalcification, and for the production and purification of chemical compounds, including caprolactam. Furthermore, these resins are used in the purification of biodiesel and for the production of high-purity water.
The notable growth in the chemicals and related end-user industries in the developing regions, including APAC, is providing notable prospects for the market growth in the segment. Also, the growing global petrochemicals industry in MEA is also expected to foster the market growth during the forecast period.
The top vendors highlighted by Technavio's research analysts in this report are:
- BASF
- Mitsubishi Chemical Holdings
- ION EXCHANGE
- LANXESS
- The Dow Chemical Company
- Thermax Global
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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