DUBLIN--(BUSINESS WIRE)--The "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 2025" report has been added to ResearchAndMarkets.com's offering.
The global ion exchange resins market size is projected to grow from USD 1.8 billion in 2020 to USD 2.2 billion by 2025, at a CAGR of 4.2%, between 2020 and 2025.
Urbanization in APAC, increasing demand for nuclear electricity generation in emerging economies, and stringent environmental regulations are the major growth drivers of the global ion exchange resins market. Pharmaceutical, food & beverage, and electrical & electronics industries are projected to register the highest growth in the next five years, thereby boosting the market growth. Increasing population, growing urbanization and evolving manufacturing sector, need for water conservation, and stringent regulations are the major factors that are projected to drive the ion exchange resins market during the forecast period. Furthermore, volatility in raw material prices and increasing competition from the reverse osmosis process are the factors restraining the market growth.
The other types segment is expected to register the highest CAGR of the overall ion exchange resins market during the forecast period.
Chelation resins and adsorbent resins are included in the others segment. Chelation resins are commonly used to remove metals, such as lead, copper, and zinc, in the metal processing industries. Adsorbent resins are mainly used in industrial applications to modify physio-chemical characteristics of liquids. These resins are suitable for adsorption of specific organic molecules from food and nonfood liquids. They have several applications in the food industry concerned with the removal of undesired organic substances and the recovery of valuable organic substances.
The ion exchange resins market in the power industry is projected to account for the largest share during the forecast period.
The power industry has witnessed significant growth over the past few years, which is attributed to the growing demand for electricity from various countries. The governments, worldwide, are encouraging various industries, including food & beverage, chemical, and primary metal to reduce their carbon footprints and switch to renewable and nuclear energy sources. Nuclear energy is the second-fastest-growing source of energy. Various nuclear-related projects are estimated to be executed in the next 10 years across the globe, thereby, directly boosting the ion exchange resins market in the power industry. In addition, China and India are also increasing their presence in the nuclear power generation segment with the installation of various nuclear energy-based power plants. These trends are expected to boost the demand for ion exchange resins in power end-use industry during the forecast period.
APAC ion exchange resins market is projected to register the highest CAGR during the forecast period.
The APAC market is segmented into China, India, Japan, South Korea, Australia, Taiwan, Thailand, Indonesia, and Rest of APAC. China is the market leader in APAC for ion exchange resins. Major fuel sources in the country are fossils and renewables. High growth in electricity demand has given rise to power shortages, while the dependency on fossil fuels has led to increased air pollution. Hence, the government is planning to reduce its dependence on fossil fuels and hydro resources leading to the rise in the demand for nuclear energy, which, in turn, will boost the market of ion exchange resins in the country. Furthermore, with the growing nuclear industry, th
Market Dynamics
Drivers
- Growing Urban Population in APAC
- Increasing Demand for Nuclear Electricity Generation in Emerging Economies
- Stringent Environmental Regulations
Restraints
- Volatility in Raw Material Prices
- Increasing Competition From Reverse Osmosis Membrane Technology
Opportunities
- Growing Industrialization in Emerging Economies
- Increasing Importance of the Recycle and Reuse of Water
Challenges
- Finding New Applications
- Lack of Strict Regulations in Developing Regions
Companies Profiled
- DuPont De Nemours, Inc.
- Purolite Corporation
- Lanxess AG
- Mitsubishi Chemical Corporation
- Thermax Limited
- Ion Exchange (India) Ltd.
- Bio-Rad Laboratories, Inc.
- Novasep Holding
- Sunresin New Materials Co. Ltd.
- Suqing Group
- Samyang Corporation
- Resintech Inc.
- Evoqua Water Technologies LLC
- Anhui Sanxing Resin Technology Co. Ltd.
- Auchtel Products Limited
- Aldex Chemical Company Limited
- Bengbu Dongli Chemical Co., Ltd.
- Eichrom Technologies Inc.
- Finex OY
- Hebi Juxing Resin Co., Ltd.
- Jacobi Carbons Ab Group
- Jiangsu Linhai Resin Science and Technology Co. Ltd.
- Ningbo Zhengguang Resin Co., Ltd.
- Ovivo
- Tianjin Nankai Hecheng Science & Technology Co., Ltd.
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