Increasing usage of ion exchange membrane in electrolysis and water treatment applications. Ion Exchange Membrane Market size is forecast to reach $632.1 million by 2026, after growing at a CAGR of 3.4% during 2021-2026.
The ion exchange membrane market is growing at a significant rate as the manufacturers are embracing new technologies to offer value of water and waste water treatment, as well as the need for selective separation to meet water quality requirements, by investing in new membrane systems. Moreover, ion exchange membranes are increasingly being used in the electrolysis application. Because of the purity of the hydrogen produced and its compatibility with all electricity sources, hydrogen production by water electrolysis using an ion exchange membrane at low temperatures is the most promising. Furthermore, with the increasing usage of ion exchange membrane in applications such as electrolysis and water treatment is further estimated to drive the growth of the ion exchange membrane industry.
Recent advancement in ion exchange membrane market has raised the growth of the market. For instance, Pall Corporation introduced ion exchange membranes that use the concepts of sorbent-based ion exchange chromatography on flat stock membrane. In a manufacturing environment, this offers advantages in terms of ease of use and handling over resin-based slurries. With a convective pore structure, it delivers effective and fast flow speeds, resulting in processing times that are much shorter and more efficient than conventional resin-based technologies. Also, in 2018, JUTA UK launched GP®TITANTECH membranes BBA Certified for use in a variety of conditions which defend against hydrocarbon and VOC vapours, as well as common ground gases like carbon dioxide, methane, and radon. The membranes are known for their extreme toughness and long-term durability, and they've already proven their worth on difficult projects like one of the UK's most polluted places. Additionally, BPA Waterproofing Systems provides composite waterproofing membrane in Germany. It launched its BPA-DualProof light® / L-800, which is a self-adhesive carbon sheet membrane waterproofing device that is completely and securely bonded. It is made up of a non-woven PP-fleece laminated to a highly flexible TPO/FPO membrane. Since, it is mounted without heat or open flames, and before the steel reinforcement is set and the concrete is poured, BPA-DualProof light® / L-800 is cold-applied and pre-applied. Thus, such rising advancement in the ion exchange membrane industry is anticipated to raise the growth of the market.
Asia Pacific dominated the ion exchange membrane market in terms of revenue with a share of 48.7% in 2020 and is projected to dominate the market during the forecast period (2021-2026). Rise in demand for water and new water sources are increasing the ion exchange membrane market in South Korea, China, India, and Australia. Furthermore, increasingly stringent regulatory environment is also a major factor driving the market. Demand for ion exchange membranes is high in these countries owing to the rise in usage of these membranes in water purification. Production of cation exchange membranes is inexpensive and fewer complicated as compared thereto of anion exchange membranes. Thus, growing demand for ion exchange membrane for various applications in this region will further drive the market growth during the forecast period.
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Ion Exchange Membrane Market Growth Drivers :
Increasing Demand in Water and Wastewater Treatment Plants
Ion Exchange are used in variety of applications such as water treatment, including water softening, industrial demineralization, condensate polishing, ultrapure water production, and wastewater treatment that increases the demand of ion exchange membrane and are driving the growth of this market. The ion exchange membrane helps to eliminate hardness, heavy metals and impurities from waste water that make water suitable for irrigation purpose, electricity generation and many other purposes. In 2018, Ion Exchange Ltd., announced the expansion of its resins facility and examine two more water infrastructure projects. This increases the demand of ion exchange treatment and therefore drive the market growth. Also, the gas and oil production is used by the membrane filtration processes for wastewater treatment that focus on microfiltration, Nanofiltration, ultrafiltration, reverse osmosis, forward osmosis, membrane distillation, and electrodialysis and are increasing the demand and growth of the market.
In August 2019, Ion Exchange (India) launched its new research & development Centre that helps to develop new resins, membranes, polymers and specialty chemical technologies related to water, process separation and purification, waste water treatment, specialty process application and catalysis.
Major Players of the Market Include
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the ion exchange membrane market. Major players in the ion exchange membrane market are Fujifilm Holdings Corporation, Asahi Kasei Corporation, Saltworks Technologies Inc., Resintech Inc., SnowPure, LLC, FUMATECH BWT GmbH, AGC Chemicals Americas Inc., Rising Sun Membrane Technology (Beijing) Co Ltd, Liaoning Yichen Membrane Technology Co Ltd., and MEGA A.S. among others.
The outbreak of COVID-19, which the World Health Organization has deemed a pandemic, had a significant effect on regional economic development in 2020. The pandemic of COVID-19 had a positive effect on the ion exchange membrane market. Because of the increased transmission of coronavirus through drinking water and waste water during the pandemic, the need for safe water for health, food, and nutrition protection increased. Furthermore, several government agencies and non-profit organisations took steps to raise awareness about water safety and protection, which increased the demand for ion exchange membranes and, as a result raised the market growth.
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