DELRAY BEACH, Fla., Oct. 3, 2024 /PRNewswire/ -- The report "Ion Exchange Resins Market by Type (Cationic Resins, Anionic Resins), Application (Water, Non-Water), End-Use Industry (Power, Chemical & Petrochemical, Pharmaceutical, Food & Beverage), and Region- Global Forecast to 2030", size is projected to grow from USD 2.13 billion in 2024 to USD 2.83 billion by 2030, registering a CAGR of 4.8% during the forecast period.
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220 - Tables
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180 - Pages
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The ion exchange resins market is experiencing significant growth due to increasing demand from various major economies for different applications in different end use industries such as power, chemical & petrochemical, food & beverage, electrical & electronics, pharmaceutical, metal & mining and other end use industries as well. Growing economies in Asia Pacific region and stricter environmental regulations and the need for sustainable practices are driving industries to adopt advanced technologies such as mixed bed resins, chelating resins and other technologies as well. Additionally, the rapid expansion of power industry, which require ion exchange resins in various applications, is further propelling the market.
Anionic type is expected to have second highest CAGR in terms of value & volume during the forecast period.
Anionic type ion exchange resins is expected to have second second-highest CAGR of 4.9% and 4.1% in terms of value & volume during the forecast period. Anionic resins work on the principal mechanism of exchanging negative ions from given solutions. These resins are positive functioned group, which attracts negatively charged ions. Standard anionic resins based on polystyrene copolymers are produced by reacting amines with chloromethylated copolymer intermediate. The type of amine used determines the nature of the final product, whether it is a weak or strong base. Anionic resins are classified as strong-base anionic resins and weak-base anionic resins. Strong-base anion exchange resins are ion-exchange resins which possess quaternary ammonium functional groups and thus have strong alkalinity. These dissociate like sodium hydroxide (NaOH) and potassium hydroxide (KOH). Weak base anion exchangers come in primary, secondary, tertiary or mixed amine functional groups. Their alkalinity strength differs, and they are useful agents in removing strong and weak acids from solutions for pharmaceutical, food engineering, and chemical processing applications.
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Industrial application within water application is anticipated to have the fastest growth in terms of value, during the forecast period.
Industrial application is estimated to have fastest growth in application segment in terms of value, The industrial water application segment of ion exchange resins plays a important role in various manufacturing processes by ensuring the quality and purity of water used in production. Ion exchange technology finds a wider application in power, pharmaceuticals, and food & beverage industries for the removal of impurities, hardness, and contaminants from water. This process also promotes the quality of products and prevents scaling and corrosion, leading to efficient performance of equipment. In addition, in the absence of resins for ion exchange, recycling and treatment of wastewater is not possible, which makes it easy for industries to follow environment laws without hampering the ecological balance to a great extent. Use of ion exchange resin in industrial water applications is essential for successful functioning and sustainability.
South America is expected to be the second fastest-growing region in the global ion exchange resins market in terms of value, by region, during the forecast period.
The South America region is expected to be the second fastest growing region in the ion exchange resins market in terms of value. The South American ion exchange resins market is driven by the economic development and growth in Brazil. The country has been at the lead in the region on the lines of economic and infrastructural development and is expected to achieve high growth in the coming years. The major end use industries in South America are food & beverage, chemical & petrochemical, and power. Those countries like Brazil and Argentina have been industrializing themselves with a booming urbanization trend, which requires proper water treatment solutions. This should be a growth factor for the ion exchange resins market as industries involved within this end try to comply with regulatory requirements and become more sustainable.
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Key Players
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the ion exchange resins market. These are DuPont de Nemours, Inc. (US), LANXESS (Germany), Mitsubishi Chemical Group Corporation (Japan), Samyang Corporation (South Korea), Ecolab (US), JACOBI RESINS (Sweden), Ovivo (Canada), IEI (India), Thermax Limited (India), and Sunresin New Materials Co. Ltd. (China).
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