Global Ion Exchange Resins Market: Snapshot
Prominent strategies leveraged by savvy players in the global ion exchange resins market are product development via research, expansion of existing capacities, and enhancing geographical footprints. Serving to drive the market is the increasing industrialization and urbanization. This is because, rapid urbanization is creating a pressing need for treating large volumes of sewage water and high quality water is essential to meet the needs of heavy to light industries for various industrial processes. Industrial processes such as heating, cooling, rinsing, etc., require large amount of processed water.
According to Transparency Market Research, the global ion exchange resins market will likely rise at a 4.9% CAGR from 2017 to 2025. At this rate, the market which was valued at US$2.40 bn in 2016, is projected to attain a value of US$3.66 bn by 2025.
Application in Pharmaceutical Sector Surges
Ion exchange resins find application in sugar refining, liquid glucose, uranium mining, gold mining, MTBE catalysis, TAME, bisphenol A, industrial water treatment, food and beverage, ultrapure water, pharmaceuticals, municipal water treatment, and water softening, among others such as mining. Among them, the pharmaceutical segment accounts for maximum share in the market. By rising at a maximum CAGR of 5.2% in the forecast period, the segment is expected to grow its leading share to 33.1% by 2025. In pharmaceutical application, ion exchange resins are utilized in drug formulations as active pharmaceutical ingredients (APIs). It is also employed for biological cell disruption in biopharmaceutcal. They are equally suitable for pharmaceutical technologies, including controlled nasal, topical, release, transdermal, and taste masking.
Apart from that, the industrial water treatment and municipal water treatment together account for considerable share in the market. This is because of the growing industrialization worldwide and water contamination on account of improper disposal of garbage. Applications of liquid glucose and uranium mining are also predicted to grow at a healthy clip. This is because ion exchange resins are used in the final stages of liquid glucose production for ash removal. Ion exchange resins also find application for the recovery of uranium from water sources, especially mine water circuits.
Municipal Water Treatment Drives Asia Pacific Market
From a geographical standpoint, North America accounts for a dominant share in the global ion exchange resins market. In 2016, it accounted for over 32% share in volume. The region is expected to clock a 5.5% CAGR from 2017 and 2025, to remain an attractive market in the near future too. Asia Pacific is another key market that is expected to offer lucrative opportunities in the next couple of years. The growth in the region is expected to be driven by demand for municipal water treatment, industrial water, and waste water treatment. The market in the region is being primarily driven by India and China, which have a considerable number of ion exchange resins suppliers present. Europe is also expected to prove a profitable ion exchange resins market due to the expansion of the pharmaceutical and nuclear power end-use industries during the forecast period.
Dow Chemical Company, Ionic Systems Ltd, Purolite, ResinTech Inc., Lanxess AG, Thermax Limited, Mitsubishi Chemical Corporation, Ion Exchange (India) Limited, Novasep, Evoqua Water Technologies LLC, Finex Oy, and Eichrom Technologies, LLC. are to name a key players in the global ion exchange resins market.
Global Ion Exchange Resins: Overview
Ion exchange resin is primarily used in water and waste water treatment. North America accounted for the major share of the global ion exchange resins market in 2016. Ion exchange resins such as strong acid cation exchange resins, weak acid cation exchange resins, strong base anion exchange resins, weak base anion exchange resins, mixed bed resins are used in numerous end-use industries such as chemical, pharmaceutical, nuclear, F & B, power generation, etc. Prices of ion exchange resins such as adsorbent resins are comparatively very high. The global ion exchange resins market is consolidated with top 4 manufacturers accounting for nearly 25% of the total market share in 2016.
This study analyzes, estimates, and forecasts the global ion exchange resins market in terms of volume (m3) and revenue (US$ Mn) from 2016 to 2025. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period.
Global Ion Exchange Resins: Segmentation
The report provides a detailed view of the ion exchange resins market based on products, applications and end-use industries. Key products included in the report are adsorbent resins, chelating resins, strong acid cation resins, weak acid cation resins, strong base anion resins, weak base anion resins and mixed bed resins.
Key applications included in the report are sugar refining, liquid glucose, uranium mining, gold mining, MTBE catalysis, TAME, bisphenol A, industrial water treatment, F&B, ultrapure water, pharmaceuticals, municipal water treatment, water Softening, and others (perfumes, R&D, etc.).
Furthermore, the report segments the market based on key geographies such as North America (the U.S., Canada), Europe (France, Germany, Italy, U.K, Spain, Russia, Rest of Europe), Asia Pacific (China, India, Japan, Indonesia, Thailand, Vietnam, Philippines, Malaysia, Rest of Asia Pacific), Latin America (Brazil, Argentina, Mexico, Rest of Latin America), and Middle East and Africa (Saudi Arabia, Qatar, Oman, South Africa, Rest of Middle East & Africa). The ion exchange resins market is further analyzed into major countries of each region. It also provides market volume and revenue for each product, application and end-use industry at country level.
Based on products, applications, end-use industries and countries, the report analyzes the attractiveness of each segment with the help of an attractiveness tool. The study includes value chain analysis, which provides a better understanding of key players in the supply chain (from raw material manufacturers to end-users). Additionally, the study analyzes market competition and industry players using Porter’s five forces analysis.
Global Ion Exchange Resins: Competitive Analysis
The report includes an overview of the market share of key companies in the global ion exchange resins market. Some of the key players in the ion exchange resins market include The Dow Chemical Company, Ionic Systems Ltd, Purolite, ResinTech Inc., Lanxess AG, Thermax Limited, Mitsubishi Chemical Corporation, Ion Exchange (India) Limited, Novasep, Evoqua Water Technologies LLC, Finex Oy, and Eichrom Technologies, LLC.
Primary research represents the bulk of our research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases. Other sources include national government documents, statistical databases, and market reports, news articles, and press releases and webcasts specific to the companies operating in the market. Secondary sources referred for the study of the ion exchange resins market include Global journal of Pharmacy & pharmaceutical Science, World Energy Council, company presentations, etc.
The report segments the global ion exchange resins market into:
Global Ion Exchange Resins Market, by Product
- Adsorbent Resins
- Chelating Resins
- Strong Acid Cation Resins
- Weak Acid Cation Resins
- Strong Base Anion Resins
- Weak Base Anion Resins
- Mixed Bed Resins
Global Ion Exchange Resins Market, by Application
- Sugar Refining
- Liquid Glucose
- Uranium Mining
- Gold Mining
- MTBE Catalysis
- Bisphenol A
- Industrial Water Treatment
- Ultrapure Water
- Municipal Water Treatment
- Water Softening
- Others (Other Mining, Other chemicals, etc.)
Global Ion Exchange Resins Market, by End-use Industry
- Industrial Water Treatment
- Municipal Water Treatment
- Electrical & Electronics
- Power Generation
- Nuclear Power
- Chemical Production
- Others (R&D, etc.)
Global Ion Exchange Resins Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa