Ion-Exchange Resins Market size is projected to reach US$1.9 billion by 2027, after growing at a CAGR of 5.1% during the forecast period 2022-2027. Hard water,
scale buildup, nitrates, arsenic, and other contaminants can all be removed
with ion exchange resins. Ion exchange resins are utilized in a wide range of
end-use industries due to their advantageous characteristics such as
cost-effectiveness, low waste generation, and rising demand. The ion exchange
resin has a high selectivity because it can separate molecules with small
differences in charges; it has a short separation time, so a large sample
volume can be separated in a short period; it has a low maintenance cost, and
it can separate and detect inorganic metal ions. The adoption of ion-exchange
resins in various end-use industries is accelerating due to the aforementioned
factors. In addition, ion-exchange resins can remove dangerous elements from
drinking water thereby aiding the demand for drinking water and clean water
Reverse osmosis and other water purification methods are becoming more widely used in commercial and residential settings. For specific applications, industrial water, in particular, is expected to be in good condition. Ion exchange resins are prepared before industrial use to remove chlorine, organic compounds, and other significant elements. During the forecast period, such factors are expected to propel the overall growth of the ion exchange resins industry. The ion exchange resins market value is expected to rise due to the expanding scope of end-user industries such as the chemical, wastewater treatment, power generation, and water treatment industries. Also, the overall growth of the ion exchange resins industry is expected to be boosted by progress in obtaining energy from renewable resources such as wind power, hydropower, and biogas. Shortly, increasing demand for ion exchange resins from the energy and power generation industries, as well as the wastewater treatment process industries, is expected to drive market growth. Ion exchange resins are expected to gain in popularity as the pharmaceutical and electronic industries demand ultrapure pure water. Over the forecast period, rising demand for semiconductors and microelectronics, which consume large amounts of ultrapure water for chip rinsing, washing, and etching processes, is expected to boost the market for ion exchange resins.
The water and wastewater treatment industry is flourishing globally, for illustration, The North Shore Wastewater Treatment Plant is currently under construction and is expected to be finished and operational in 2024. The plans push for a new capacity producing 170 million gallons per day (772,820 m3/day) of drinking water to meet a large portion of its ambitious sustainability plans. Over the next few years, the majority of new RO facilities will be constructed in Abu Dhabi and neighboring emirates. With the increasing water treatment projects, it is projected the demand for water purifiers such as ion-exchange resins will also significantly increase, which will drive the market growth.
The COVID-19 outbreak resulted in significant economic issues and challenges. Several industries across regions, including water treatment, power generation, chemical, petrochemical, pharmaceutical, and others, were forced to shut down their operations and services as countries implemented partial or complete lockdown policies to deal with the pandemic, resulting in a significant revenue loss for ion-exchange resins manufacturers. According to the International Monetary Fund (IMF), The economic impact of COVID-19 slowed GDP growth in several countries, including the United Kingdom, Germany, Brazil, Japan, the United States, Saudi Arabia, Nigeria, and others. As a result of the government's strict measures to slow the spread of the coronavirus, regional economic activity slowed and GDP fell, causing widespread concern and economic hardship for the ion-exchange resins industry.
Asia-Pacific held the largest share in the ion-exchange resins market, owing to the increasing water treatment activities, which is accelerating the demand for ion-exchange resins in the region. Asia-Pacific governments are striving to expand water reuse, which is supporting the water treatment industry in APAC, for instance, Suwon City, Korea, plans to construct a wastewater treatment facility by 2025 that will purify 325,000m3 of wastewater per day and provide industrial water to Suwon and nearby companies. India's water demand is expected to be twice the available supply by 2030, according to NITI Aayog. According to the National Commission for Integrated Water Resource Development of the Ministry of Water Resources, water needs in a high-use scenario by 2050 are expected to be a milder 1,180 BCM, whereas current availability is 695 BCM. Singapore's total water demand could nearly double by 2060, according to the National Water Agency, with the non-domestic sector accounting for roughly 70%. And to meet this increasing future water demand, it is anticipated that the water treatment industry will bolster in Asia-Pacific countries, propelling the ion-exchange resins industry in the Asia-Pacific region.
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Ion-Exchange Resins Market Growth Drivers:
Growing Petrochemical and Chemical Processing Industry
Most industrial processes require the purification of petrochemical and chemical compounds. Esterification, hydrolysis, transesterification, monoethylene glycol (MEG), methyl tertiary butyl ether (MTBE) production, oil removal from condensate, and other chemical processing and petrochemical applications are all common uses for ion exchange resins. Ion-exchange resins have several advantages, including ease of separation, less corrosion to equipment, less pollution to the environment, efficiency, continuous production, and more, which are why they are used for purification in petrochemical and chemical processing plants. The growing demand for consumer commodities is expediting the growth of the chemical and petrochemical industry in various countries, for instance, according to Invest India, the market size of the chemicals & petrochemicals sector in India is around US$178 billion and is expected to grow to US$300 billion by 2025. According to Germany Trade & Invest (GTI), the global chemicals market is in excellent shape. This is reflected primarily in the huge increase in global revenue from EUR 2,551 billion (US$3,558 billion) to EUR 3,669 billion (US$4,107 billion) during the decade 2009 to 2019, and an average annual growth rate of almost 3.7%. Hence, with the increasing chemical and petrochemical industry, it is predicted that the demand for purification will substantially rise over the coming years, thereby spurring the demand for ion-exchange resins.
Bolstering Growth of Food and Beverage Industry
In the food and fermentation industry, ion exchange resin is one of the most active and creative fields. They also play an important role in the food industry's development. It is used to extract citric acid and lactic acid from the fermentation broth, used to decolorize beer fermentation broth and remove high fatty acid in liquor, and it is also used to remove heavy metal ions and nitrate ions in the juice and is also used for decolorization, demineralization, dedusting, and purification of the juice. Food & beverage production is on an upsurge in various regions. For instance, according to the Brewers Association, overall U.S. beer volume sales increased 1% in 2021, while craft brewer volume sales increased 8%, bringing small and independent brewers' volume share of the U.S. beer market to 13.1%. Craft beer retail dollar sales increased by 21% to US$26.8 billion, accounting for just under 27% of the US$100 billion (previously US$94 billion) beer market. According to Invest India, the Indian food processing industry sector has grown at an average annual rate of around 11.18 percent over the last five years, ending in 2019-20. Because the food and beverage sector is booming, there is a significant increase in demand for ion exchange resins. Thus, the increasing food & beverage sector acts as a driver for the ion exchange resins market during the forecast period.
The Major Players in this Market Include
The major companies in the ion-exchange resins market include LANXESS, DuPont, Purolite, Samyang Corporation, Sunresin New Materials Co. Ltd., Mitsubishi Chemical Holdings Corporation, Jacobi Carbon Group, Bio-Rad Laboratories Inc., IEI, and Novasep Holding. The key focus of the companies has shifted towards expansion and acquisition.
In October 2021, Ecolab announced that it has inked an agreement to purchase ion exchange resins and services provider Purolite in a US$3.7 billion cash deal. In June 2021, DuPont expanded its ion exchange resin manufacturing production to address the high global demand for its pharmaceutical products such as excipients and active pharmaceutical ingredients (APIs). In January 2020, DuPont completed the acquisitions of Desalitech, inge GmbH, Memcor®, and OxyMem Limited; adding to its portfolio of water purification and separation technologies, including ion exchange resins.
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