Dublin, Nov. 01, 2021 (GLOBE NEWSWIRE) -- The "Ion Exchange Resins - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Ion Exchange Resins Market to Reach US$2.3 Billion by the Year 2026
The global market for Ion Exchange Resins estimated at US$1.7 Billion in the year 2020, is projected to reach a revised size of US$2.3 Billion by 2026, growing at a CAGR of 5.2% over the analysis period. Cationic Resins, one of the segments analyzed in the report, is projected to grow at a 5.8% CAGR to reach US$1.3 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Anionic Resins segment is readjusted to a revised 4.8% CAGR for the next 7-year period. This segment currently accounts for a 32.8% share of the global Ion Exchange Resins market. Accelerated urbanization in the Asia Pacific region has resulted in rising cationic resin demand for numerous water treatment applications. Cationic resins display better efficiency and broader applicability as compared to anionic resins.
Rising ion exchange resin demand for numerous applications is a key factor driving growth in the market. Ion exchange resins are widely used in industries such as chemical processing, wastewater treatment, electronics, mining, food and beverage, and power generation. Growth in these industries is likely to drive expansion in the global market. Growing awareness regarding water softening and purification for industrial applications is also poised to drive growth in the coming years.
Growth is likely to surge owing to increasing demand for power generation in India, China, and the Middle East in the next few years. The rising significance of the quality of captive water due to advances in renewable energy sources like biogas, wind energy, and hydropower is likely to propel growth in the market. Expansion in the mining sector along with rapid industrialization is increasing the need for freshwater, which in turn, will propel the ion exchange resins market.
The U.S. Market is Estimated at $374.8 Million in 2021, While China is Forecast to Reach $533.6 Million by 2026
The Ion Exchange Resins market in the U.S. is estimated at US$374.8 Million in the year 2021. The country currently accounts for a 21.4% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$533.6 Million in the year 2026 trailing a CAGR of 7.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 3.7% respectively over the analysis period.
Within Europe, Germany is forecast to grow at approximately 4.1% CAGR while Rest of European market (as defined in the study) will reach US$572.5 Million by the year end of the analysis period. Asia-Pacific region is likely to be a key market as rising industrial growth rate in China and India raises water pollution levels, thereby driving demand for ion exchange resins over the coming years.
Governments in emerging markets like Indonesia, China, and India are taking stringent measures towards water treatment. Growth in North America is due to rising demand for these resins from end-use industries such as nuclear power, mining, and pharmaceutical, among others. The region is likely to register tremendous growth because of expansion in the pharma, nuclear power, and mining industries.
Power (End-Use) Segment to Reach $905.9 Million by 2026
Power industry is the leading end-use market for ion exchange resins market. Fossil power plants are using various water treatment devices such as feedwater makeup, stator cooling, condensate polishing, and indicator cation resin in order to improve operational efficiency. Makeup water is added to the cooling towers for compensating losses due to evaporation and leakage. While strong base anion resins are primarily used in makeup water, weak base resins are capable of minimizing operating costs.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Pandemic Brings to Light the Demand-Supply Gap in Accessing Clean and Safe Water
- What is Ion Exchange Technology?
- An Introduction to Ion Exchange Resins
- Key Properties of Ion Exchange Resins
- Types of Ion Exchange Resins
- Major Applications of Ion Exchange Resins
- Global Market Prospects & Outlook
- Cationic Resins: The Largest Segment
- Power Generation Emerges as the Leading End-Use Market
- Asia-Pacific Leads the Global Ion Exchange Resins Market
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 62 Featured)
- Aldex Chemical Company, Ltd.
- Anhui Sanxing Resin Technology Co. Ltd.
- Auchtel Products Ltd.
- Bengbu Dongli Chemical Co., Ltd.
- Bio-Rad Laboratories, Inc.
- E. I. du Pont De Nemours and Company
- Eichrom Technologies, LLC
- Evoqua Water Technologies LLC
- Finex Oy
- Hebi Juxing Resin Co., Ltd.
- Ion Exchange (India) Ltd.
- Jacobi Carbons AB
- Jiangsu Linhai Resin Science and Technology Co. Ltd.
- Jiangsu Suqing Water Treatment Engineering Group Co., Ltd
- Lanxess AG
- Mitsubishi Chemical Corporation
- Ningbo Zhengguang Resin Co., Ltd.
- Novasep Holding SAS
- Ovivo, Inc.
- Purolite Corporation
- ResinTech, Inc.
- Samyang Corporation
- Sunresin New Materials Co., Ltd.
- Thermax Ltd.
- Tianjin Nankai Hecheng Science & Technology Co., Ltd.
3. MARKET TRENDS & DRIVERS
- Expanding Applications to Present Growth Opportunities for Ion Exchange Resins Market
- Growing Water Scarcity and Increasing Importance of Water Recycling & Reuse Bodes Well for the Market
- Deteriorating Quality of Water and Widening Gap between Safe & Reliable Water Supply: A Key Factor Fueling Growth
- Factors Driving the Need for Water Reuse
- Industrialization and Surge in Urban Population in Emerging Economies Fuels Market Growth
- Water Needs of Expanding Urban Population to Boost Market for Ion Exchange Resins
- Water-Guzzling Industrial Units and Increasing Emphasis on Sustainable Wastewater Treatment Benefit Demand
- New Focus on Circular Economy among Industrial Enterprises Drives Emphasis on Wastewater Recycling and Reuse
- Ion Exchange Resin Demand in Power Industry to Witness High Growth
- Rise in Nuclear Power Generation Drives Demand for Ion Exchange Resins
- Chemical & Petrochemical: Demand for Ion Exchange Resins to Witness Healthy Growth
- Pharmaceutical Industry's Need for Improved Drug Retention & Prevention of Dose Dumping & Toxicity to Boost Market
- Requirements for Water Used by the Pharmaceutical Industry
- Growing Role of Ion Exchange Resins in Cleaning and Obtaining Pure Metals
- Increased Need for Ultrapure Water Boosts Market Growth
- Water Softening: A Major Application of Ion Exchange Resins
- Ion Exchange Resins Find Growing Use in Catalysis
- Role of Ion Exchange Resins in Sugar Refining
- Role of Ion Exchange Resins in Making Mineral Oils Acid-free
- Challenges Facing Ion Exchange Resins Market
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 62
For more information about this report visit https://www.researchandmarkets.com/r/c1vt9o
