As per the latest report by IMARC Group, titled “Ion Exchange Resins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global ion exchange resins market size reached US$ 1.7 Billion in 2019. Ion exchange resins are insoluble polymers that occur in the form of small, white or yellowish microbeads. These resins have a backbone of cross-linked polystyrene and side chains of ion-active groups. Some of the natural substances that exhibit properties of ion exchange materials are proteins, cellulose, soil particles and living cells. These polymers are extensively used in mining, agriculture, chemical synthesis, medical research, food processing and a variety of other areas.
Global Ion Exchange Resins Market Trends:
There is a rise in the demand for ion exchange resins owing to the presence of numerous contaminants, such as pathogenic microorganisms, pollutants and factory wastes in the drinking water. Ion exchange resins are utilized in wastewater treatment plants to interchange one ion with another, which helps in demineralization or water softening. It also aids in removing other substances from water during de-alkalization, deionization and disinfection. In addition to this, governments of several countries are implementing stringent water conservation regulations due to the increasing global population and the simultaneously growing scarcity of fresh water. This, in turn, is escalating the demand for ion exchange resins across the globe. Apart from this, these resins are also increasingly being used in liquid glucose, sugar refining, Methyl t-butyl ether (MTBE) catalysis, and gold and uranium mining. On account of these factors, the market value is projected to reach US$ 2.2 Billion by 2025, expanding at a CAGR of 3.5% during the forecast period (2020-2025).
- Based on the type, the market has been classified into cationic, anionic and other resins. At present, cationic resins represent the leading segment.
- On the basis of the application, the market has been segregated into demineralization and water softening, food and beverage, mining and metallurgy, and other segments. The demineralization and water softening segment accounts for the majority of the total market share.
- Region-wise, the market has been divided into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific currently represents the largest market.
- The competitive landscape of the market has been examined, with some of the key players being LANXESS AG, Mitsubishi Chemical Holdings Corporation, Dow Inc., Purolite Corporation, Thermax Limited, Ion Exchange (India) Ltd., ResinTech Inc., Novasep Holding SAS, Samyang Corporation and Jiangsu Suqing Water Treatment Engineering Group Company Ltd.
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