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The ion exchange resins market size is projected to increase by USD 476.55 million, at a CAGR of 5.97% between 2023 and 2028.
The report includes a comprehensive outlook on the market offering forecasts for the industry segmented by Type, which comprises cationic resins and anionic resins. Additionally, it categorizes End-user into power, chemical and petrochemical, food and beverage, pharmaceutical and others and covers Region, including North America, APAC, Europe, Middle East and Africa, and South America. The market report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
The growth of the market is propelled by the increased demand from the food and beverage industry. However, its progress is hindered by the limited selectivity of ion exchange resins. Furthermore, there is a notable upward trend in the growing emphasis on ecologically sustainable practices across different sectors.
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The are specialized materials that can exchange ions in a solution and are often used to remove contaminants in water treatment operations. The functional groups in these resin beads selectively attract and replace ions from the surrounding solution, resulting in purification. They are widely used in industries such as water treatment, pharmaceuticals, and food processing, where they play an important role in ion exchange operations that improve water quality, separate chemicals, and facilitate various chemical and industrial processes.
The cationic resins segment is estimated to witness significant growth during the forecast period. Cationic resins have emerged as a leading type in the global market. Due to their numerous applications in water treatment, chemical processing, and pharmaceutical industries, cationic resins, which selectively remove positively charged ions from liquids, are gaining popularity.
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The cationic resins segment was the largest and was valued at USD 768.77 million in 2018. The growing need for clean water, combined with rigorous environmental regulations, has spurred the use of cationic resins in effective ion exchange systems. The growth of the cationic resins segment is being driven by their efficiency, versatility, and increasing demand across varied industrial sectors, which is expected to position them as a key type in the evolving market in focus during the forecast period. Owing to such factors, the global ion market is expected to witness significant growth during the forecast period.
Based on the end-user, the market has been segmented into power, chemical and petrochemical, food and beverage, pharmaceutical and others. The power?segment will account for the largest share of this segment.?
APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.
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The market in APAC is growing rapidly, fueled by expanding sectors such as water treatment, pharmaceuticals, and chemicals. Countries such as China and India are using ion for efficient water filtration to overcome water scarcity issues. In China, organizations such as Beijing Capital Group use resins for water softening and demineralization, contributing to better municipal water quality. SUEZ Water Technologies and Solutions contribute to market growth by providing innovative ion exchange solutions for water treatment plants in the region. Furthermore, are used in drug purification and separation operations in APAC's booming healthcare industry.
In addition, Sun Pharmaceutical Industries in India, for example, uses in medicine formulation to ensure good product quality. The are used in bioprocessing activities by companies such as Biocon in India to get optimal purification results. Furthermore, the APAC chemical sector uses ion exchange resins for a variety of operations, such as catalysis and chemical purification. Such factors are expected to drive the regional marke growth during the forecast period.
Increased demand for the food and beverage industry is notably driving the market growth. The growing need for high-purity water and enhanced product quality is driving the growth of the global market.The play an important part in industrial water treatment operations by removing pollutants, toxins, and undesirable ions. The help to achieve desired water quality in beverage production by removing ions that may alter taste, odor, or color. Furthermore, these resins are used to improve food product quality by efficiently eliminating undesired components such as excess minerals or contaminants. As the global food and beverage industry expands, so will the demand to fulfill quality standards and regulatory requirements, boosting the adoption market innovation. The Increased demand from the food and beverage industry is expected to drive the growth of the market during the forecast period.
Growing emphasis on ecologically sustainable practices across different sectors is an emerging trend shaping the market growth. The promote sustainability by enabling resource recovery, water recycling, and chemical waste reduction. These resins aid in the removal of contaminants from water, boosting water recycling projects. In the semiconductor industry, for example,the are used to produce ultrapure water while lowering chemical use and environmental impact. Furthermore, in mining hydrometallurgical operations, these resins contribute to the effective recovery of important metals, enabling sustainable resource management. As companies progressively adopt eco-friendly practices, the various uses of position them as important components in reaching environmental goals, boosting the market growth and trends during the forecast period.
The limited selectivity of is a significant challenge hindering market growth. The challenging nature of selectivity restrictions in certain resins is a challenge to their widespread adoption and efficacy in specific commercial applications. Lack of selectivity can result in unsatisfactory performance in applications such as metal recovery or water treatment for targeted pollutant removal. Continuous innovation is required to overcome this difficulty. Manufacturers such as Purolite are investing in the development of better with improved selectivity profiles, which will allow for more specific and efficient ion capture. Tailoring resins for specialized applications, such as those requiring high selectivity for specific pollutants or ions, becomes critical for overcoming this issue and ensuring the long-term growth of the market in focus. Such factors will impede the growth of the market during the forecast period.
Companies are implementing various market trends and analysis strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market and resulting of market growth analysis.
Bio Rad Laboratories Inc.: The company offers such as Nuvia HP Q resins used for downstream purification of large molecules such as high molecular weight (HMW) plasma proteins IgA and IgM; Nuvia HR S resin designed for intermediate and final polishing purification steps; Nuvia S resin used in both the capture and polishing of biotherapeutics.
The market research and growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including AGS Aqua Tech, Aldex Chemical Co. Ltd., Bio Rad Laboratories Inc., DuPont de Nemours Inc., Ecolab Inc., Eichrom Technologies LLC, Evoqua Water Technologies LLC, Felite Resin Technology, Ion Exchange India Ltd., Lanxess AG, Mitsubishi Chemical Group Corp., Nilsan Nishotech Systems Pvt. Ltd., Osaka Gas Co. Ltd., ResinTech Inc., Samco Technologies Inc., Samyang Corp., Sunresin Inc., Taiyuan Lanlang Technology Industrial Corp., Thermax Ltd., and Thermo Fisher Scientific Inc.
The market market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting growth strategies.
Market Customer Landscape
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Ion Exchange Resins Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.97% |
Market Growth 2024-2028 |
USD 476.55 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.54 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGS Aqua Tech, Aldex Chemical Co. Ltd., Bio Rad Laboratories Inc., DuPont de Nemours Inc., Ecolab Inc., Eichrom Technologies LLC, Evoqua Water Technologies LLC, Felite Resin Technology, Ion Exchange India Ltd., Lanxess AG, Mitsubishi Chemical Group Corp., Nilsan Nishotech Systems Pvt. Ltd., Osaka Gas Co. Ltd., ResinTech Inc., Samco Technologies Inc., Samyang Corp., Sunresin Inc., Taiyuan Lanlang Technology Industrial Corp., Thermax Ltd., and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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