The global ion exchange resins market size is projected to grow from USD 1.8 billion in 2020 to USD 2.2 billion by 2025, at a CAGR of 4.2%, between 2020 and 2025. The growing demand for the product in water treatment and purification purposes in industries, such as power, electrical & electronics, and metal & mining is a key factor driving the ion exchange resins market growth.
APAC is segmented into China, India, Japan, South Korea, Australia, Taiwan, Thailand, Indonesia, and Rest of APAC. The growth of the ion exchange resins market in the region is primarily due to its high demand from power, chemical & petrochemical, food & beverage, and electrical & electronics industries. The world is witnessing a scarcity of fresh water for both industrial as well as domestic purposes, and the need for re-use and recycling of water is expected to propel the ion exchange resins market growth. Furthermore, increasing urbanization augmented by rising disposable income of the population is contributing to the increasing demand for potable water. In addition, the growing industrialization is also propelling the demand for ion exchange resins in various applications, such as ultra-pure water and drug delivery.
DuPont de Nemours, Inc., (US), Lanxess AG (Germany), Purolite Corporation (US), among other players, have adopted various strategies, such as investment & expansion, merger & acquisition, new product development, and partnership & collaboration between 2016 and 2020, to enhance their market shares and expand their global presence.
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DuPont (US) is one of the key major manufacturers in the ion exchange resins market. The company specializes in the production of resin products used in healthcare, residential, industrial water treatment, chemicals & petrochemical, microelectronics, and other industries. The company supplies a number of ion exchange resin products for a diverse range of applications. It is more focused on cost-oriented manufacturing than its competitors but maintains proper quality standards required by the end users. It is also focused on expanding its business globally for achieving a greater market reach and presence through mergers & acquisitions. These initiatives taken by DuPont are expected to prove beneficial for its growth over the next few years. The company also continuously focuses on its inorganic growth.
- In December 2019, DuPont acquired OxyMem Limited, a company that develops and produces Membrane Aerated Biofilm Reactor (MABR) technology for the treatment and purification of municipal and industrial wastewater. DuPont already owns 31% of OxyMem and has thus exercised its option to acquire all outstanding shares of OxyMem for 100% ownership. The acquisition is expected to be completed by the first quarter of 2020 and will help meet the growing demand for the treatment and purification of municipal and industrial wastewater.
Lanxess (Germany) is another major player operating in the ion exchange resins market. The company has a broad product portfolio of ion exchange resins which find application in various industries. It has 75 production sites across the globe, which help it attain economies of scale. The company is also adopting growth strategies, for instance, new product development, to expand its presence worldwide. For example, in October 2017, the company developed new mixed-bed exchanger, the Lewatit NM 3367 to demineralize water. The product will prevent the heating system from scale formation and corrosion. This product launch gave the company a competitive edge in the ion exchange resins market. It focuses on organic as well as inorganic growth strategies, such as partnership & collaboration, investment & expansion, and new product launch to expand its business and increase its market share.
- In June 2019, Purolite along with the WABAG Group (India) invested to build a modern, state-of-the-art wastewater treatment plant at the company’s production facility in Romania. WABAG is a world leader in water management for industrial and municipal sectors and will design, build and operate (DBO) the USD 15 million facility. The project is expected to start in 2020. The initiative will help the company take a step toward sustainability and reduce the burden on nearby water resources.
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