Ion Exchange Resins Market Synopsis
Ion exchange resins are the water-insoluble polymer matrix containing functional groups, which can be exchanged by the medium ions. These resins are white or yellowish in color. Resins are present in the matrix structure as porous beads, microporous beads, gel, powder, or sheet forms. Ion exchange resins are made by polymerization of monomers such as styrene, acrylic, or phenolic compounds. Ion exchange resins find high application scope in different end-use industries such as industrial & municipal water treatment, hydrometallurgy & metal finishing, chemical & petrochemical, food & beverages, pharmaceutical, power industry, electronics, and others.
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Growing applications of ion exchange resins in the pharmaceutical and food & beverage industry are also expected to drive the market growth over the forecast period. A significant demand for ion exchange resins from power industry (both fossil and nuclear power plant) to ensure intake of good quality water, which is free from impurities & undesired materials that could contribute to scale & corrosion formation later in the system if not pretreated. The growth in the power industry on account of surging demand for electricity in developing as well as developed countries are expected to have a positive impact on market growth in the near future.
The global ion exchange resins market is segmented by type, raw material, matrix structure, end-use industry, and region.
On the basis of the type, the global ion exchange resins market is segmented into cation exchange resins, anion exchange resins, chelating resins, mix bed resins, adsorbent resins, and others. Cation exchange resins are sub-segmented into strong acid cation resins and weak acid cation resins. Anion exchange resins are sub-segmented into strong base anion resins and weak base anion resins. Cation exchange resins and anion exchange resins collectively accounted for the largest market share under type category in 2017 owing large-scale applications in end-user industries such as water treatment, hydrometallurgy & metal finishing, chemical & petrochemical, electronics, and others and is expected to continue growing over the forecast period. However, chelating resins and adsorbent resins are expected to grow at a healthy CAGR over the forecast period owing to growing applications in the food & beverage and pharmaceutical industries.
On the basis of the raw material, the global ion exchange resins market is segmented into polystyrene copolymer, polyacrylic copolymer, cross-linked polystyrene, and others. Polystyrene copolymer accounted to have the largest market share under raw material category in 2017 owing to high consumption in different types of ion exchange resins owing to its low cost and easy availability and is expected to continue growing over the forecast period.
On the basis of the matrix structure, the global ion exchange resins market is segmented into porous beads, microporous beads, gel, powder, sheet, and others. Porous beads are expected to be the most commonly used matrix structure in different types of ion exchange resins over the forecast period, 2018-2023 owing easy handling and is expected to witness strong demand over the forecast period.
On the basis of the end-user industry, the global ion exchange resins market is segmented into water treatment, hydrometallurgy & metal finishing, food & beverages, pharmaceutical, and others. Water treatment segment is sub-segmented into industrial water treatment and municipal water treatment. Industrial water treatment is further segmented into chemical & petrochemical, power, electronics, and others. Water treatment industry was the largest consumer of ion exchange resins for its application in both effluent wastewater treatment and municipal water treatment in 2017 and is expected to remain the same over the forecast period.
Regional Analysis
The global ion exchange resins market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific accounted to have the largest market share of ion exchange resins in 2017, followed by North America and Europe. The Middle East & Africa and Latin America are expected to witness rising demand for ion exchange resins over the forecast period.
Competitive Analysis
Some of the key players in the global ion exchange resins market are DowDuPont Inc. (U.S.), Ionic Systems Ltd. (UK), Purolite (U.S.), Mitsubishi Chemical Corporation (Japan), Lanxess AG (Germany), Ion Exchange (India), Thermax Global (India), Novasep Holding (France), SAMYANG CORPORATION (South Korea), Samco Technologies, Inc. (U.S.), and Thermo Fisher Scientific (India).
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