Ion Exchange Resins Market to experience an impressive growth of 4.7% during 2020-2025
January 27, 2020
Ion Exchange Resins Market is likely to witness a healthy CAGR of 4.7% during the forecast period. Ion exchange resins are employed in a wide array of industries, such as power, chemical & petrochemical, food & beverages, pharmaceuticals, water & wastewater treatment, food & beverage, pharmaceuticals, electricals & electronics, and metal & mining. Among all the application sectors, nuclear power generation is the major sector where ion exchange resins are used for controlling reactor reaction and steam generation. They are also extensively found in water and wastewater management as ion exchange resins are used to substitute the magnesium and calcium ions with sodium ions from hard water to alleviate poisonous and heavy metal ions. The increasing infrastructural development projects in the developing economies is augmenting the demand for electricity, which in turn, is driving the growth of the energy & power sector.
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Ion Exchange Resins Market Segment Insights:
By Type:
Based on the type, the market is segmented as cationic resins, anionic resins, and others. The cationic resins segment dominated the market and is expected to maintain its leading position during the forecast period. The extensive use of cationic resins in various water treatment applications in power, chemical and domestic end-use industries is the major factor behind its dominance in the global ion exchange resins market.
By End-Use Industry Type:
Based on the end-use industry type, the market is segmented as power, chemical & petrochemical, water & wastewater treatment, food & beverage, pharmaceutical, electrical & electronics, metal and mining, and others. The power segment is expected to lead the market during the forecast period, owing to the increasing penetration of ion exchange resins in various power applications including coal-based and nuclear power plants in economies, such as China, Japan, Poland, and India to meet their energy requirements. Further, water & waste water treatment is expected to witness substantial growth during the forecast period, owing to the rising concern towards fresh water scarcity and treatment of industrial waste.
By Region:
In terms of regions, Asia-Pacific is likely to dominate the global market during the forecast period, owing to the huge industrial base and growing demand from industries, such as mining, chemical & petrochemical, water & wastewater treatment, and nuclear power. Further, government initiatives from the developing economies, such as China and India to attract investment are acting as a catalyst towards the growth of the Asia-Pacific’s market. North America and Europe are the other two major markets with substantial growth opportunities, owing to strong demand from end-use industries and rising concern towards water & wastewater treatment.
Key Players:
Some of the key players in the ion exchange resins market are The Dow Chemical Company, Lanxess AG, Purolite Corporation, Mitsubishi Chemical Corporation, Thermax Limited, Ion Exchange (India) Ltd., Jiangsu Suqing Water Treatment Engineering Group Company Ltd., Novasep Holding SAS, Samyang Corporation, ResinTech Inc, Anhui Sanxing Resin Technology Co. Ltd., Auchtel Products Limited, Aldex Chemical Co. Ltd., Bengbu Dongli Chemical Co., Ltd., Bio-Rad Laboratories, Inc., Eichrom Technologies Inc., Evoqua Water Technologies LLC, Finex Oy, Hebi Juxing Resin Co., Ltd., Jacobi Carbons AB, Jiangsu Linhai Resin Science and Technology Co. Ltd., Ningbo Zhengguang Resin Co., Ltd., OVIVO, Sunresin New Materials Co. Ltd., and Tianjin Nankai Hecheng Science & Technology Co., Ltd.
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