The Global Ion Exchange Resins market size is estimated at $1.54 billion in 2014 and is expected to reach $2.46 billion by 2022 growing at a CAGR of 6.03% between 2014 and 2022. The drivers include, increasing demand for nuclear power due to industrialization and strict environmental regulations. Instability in raw material prices and lack of awareness in underdeveloped regions are hampering the market. The opportunities of the marketplace are rising industrialization in developing countries and increasing shortage of fresh water. The challenges faced by the market reside in finding new applications.
End-user markets of ion exchange resins are growing especially in power generation and water & wastewater treatment. While North America is the matured market for ion exchange resins, Asia-Pacific represents the fastest growing market during the forecast period in ion exchange resins drive by the growing population and urbanization. Significant mergers and acquisitions, collaborations, and joint ventures are the industry trends that are playing a major role for the market growth.
Ion Exchange Resins market is segmented by type, by application, by product and by geography. Depending on the various types, market is classified Adsorbent Resins, Anion Exchange Resins, Cation Exchange Resins and Chelation Resins. Based on application, market is categorized as Chemical Processing, Electrical and Electronics, Food & Beverages, Mining, Pharmaceuticals and Power Generation. Based on product, market is segregated as Chemicals, Food & Beverage and Power Generation. Depending on geography, market is segmented into North America, Europe, Asia-Pacific and Rest of the World.
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The key players in the Ion Exchange Resins market include, Dow Chemical, Eichrom Technologies Inc., Ion Exchange Ltd., Lanxess AG, Mitsubishi Chemical’s, Novasep Holding S.A.S., Rohm & Haas, Purolite, Resintech Inc. and Thermax Ltd.
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