Ion Exchange Resins Market worth 1.56 Billion USD by 2022 – Report by MarketsandMarkets™

November 29 20:58 2018

Ion Exchange Resins Market
Ion Exchange Resins Market by Type (Cationic Resins, Anionic Resins), End-Use Industry (Power, Chemical & Petrochemical, Pharmaceutical, Food & Beverage, Metal & Mining, Electrical & Electronics), and Region

Investments & expansions was among the key strategies adopted by the leading players to strengthen their position in the ion exchange resins market.

The ion exchange resins market is projected to grow from USD 1.26 billion in 2017 to USD 1.56 billion by 2022, at a CAGR of 4.4% from 2017 to 2022. Companies such as DowDuPont Inc. (US), Lanxess AG (Germany), Purolite Corporation (US), Mitsubishi Chemical Corporation (Japan), and Thermax Limited (India) operating in the ion exchange resins market have adopted both, organic as well as inorganic growth strategies such as mergers, acquisitions & joint ventures; investments & expansions; new product and technology development; and partnerships, agreements & collaborations to serve their customers efficiently and increase their market shares in the ion exchange resins market.

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Investments & expansions was the key strategy adopted by the major players to strengthen their position in the ion exchange resins market between 2013 and 2018. Investments & expansions accounted for a share of 35.5% of the total growth strategies adopted by the leading players of the ion exchange resins market between 2013 and 2018. Companies operating in the ion exchange resins market have also adopted the strategy of new product and technology development which helped them fulfill the emerging need for ion exchange resins in various industries.

DowDuPont (US) has gained a strong foothold in the ion exchange resins market. It is focusing on organic growth and has enhanced its product portfolio through various growth strategies, such as new product and technology developments and investments & expansions, to meet the growing demand from customers. In 2013, the company inaugurated a new technical center in the premises of the Moscow Power Engineering Institute (MPEI), together with the Research and Production Company (RPC) Mediana-Filter, that serves as a facility for plant engineers training and engineering and scientific research. In 2013, the company signed an agreement with Ahlstrom Corporation (Finland), a global high-performance fiber-based materials company, to use the Ahlstrom Disruptor technology for drinking water applications. The agreement will help the company expand its ion exchange resins product portfolio.

Lanxess AG (Germany) is another major player operating in the ion exchange resins market. The company has a broad product portfolio for ion exchange resins which find applications in various industries. The company has 54 production sites across the globe, which help the company attain economies of scale. The company is also adopting various growth strategies such as investments & expansions and new product developments to expand its presence worldwide. For instance, in September 2014, the company invested USD 12.5 million in its new production line in Leverkusen, Germany.

Increasing of nuclear energy for electricity generation in emerging countries, growing urbanization, and increasing affluence in Asia Pacific are expected to drive the ion exchange resins market during the forecast period.

The ion exchange resins market is projected to reach USD 1.56 billion by 2022, at a CAGR of 4.4% from 2017 to 2022. The APAC region is projected to be the largest market for ion exchange resins during the forecast period. The APAC region is projected to lead due to the increasing investments by the countries in this region in the use of nuclear energy to generate electricity. As the demand for electricity is growing, governments are taking initiatives to decrease their dependence on coal and natural gas. The ion exchange resins market in North America and Europe is expected to witness moderate growth during the forecast period as the market is facing tough competition from the reverse osmosis membrane technology in the demineralization application.

The cationic resins segment is the largest, as these resins are commodity resins and are used in the nuclear and water treatment end-use industries on a large scale. The others segment, which includes chelating resins and adsorbent resins, is expected to grow at the highest CAGR during the forecast period. The demand for these resins is increasing in the pharmaceutical, chemical & petrochemical, and food & beverage industries, which is leading to the high growth of the segment. Strong R&D activities to develop new and innovative products to widen the application areas are expected to boost the demand for ion exchange resins during the forecast period.

Based on end-use industry, the power segment is projected to lead the ion exchange resins market during the forecast period. Ion exchange resins are widely used in the power industry, mainly in demineralizing feed water and make-up water, wastewater treatment, and condensate polishing inside water-steam circuits. The pharmaceutical segment is projected to grow at the highest CAGR during the forecast period. These resins are receiving considerable attention for their efficient use as drug delivery vehicles or systems, and are also suitable for drug delivery technologies, which include controlled release, transdermal, nasal, topical, and taste masking. The growing electrical & electronics industry is also expected to lead to a growing demand for ion exchange resins during 2017 to 2022.

Growing urbanization and increasing affluence in APAC and the increase in nuclear electricity generation in emerging economies are some of the drivers for ion exchange resins market. Companies are adopting various organic and inorganic strategies to fulfill the rising demand for ion exchange resins.

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