PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1565795
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1565795
The Ion exchange resins market size is projected to grow from USD 2.13 billion in 2024 to USD 2.83 billion by 2030, registering a CAGR of 4.8% during the forecast period in terms of value. The global ion exchange resins market is witnessing growth due to its versatile properties and it is also widely used in various industries due to its exceptional properties. Furthermore, ion exchange resins are required for the application in various end use industries like power, chemicals & petrochemicals, food & beverage, pharmaceuticals, fuels the need for ion exchange resins.
Scope of the Report | |
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Years Considered for the Study | 2021-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD Million), Volume (Thousand Liters) |
Segments | Type, Application, End Use Industry, and Region |
Regions covered | Asia Pacific, North America, Europe, Middle East & Africa, and South America |
"Electrical & Electronics end use industry is projected to be the fastest growing end use industry in terms of value."
Electrical & Electronics is projected to be the fastest growing end use industry in the ion exchange resins market due to several factors. As electrical & electronics industry is among the fastest-growing industries that depend highly on high-purity raw materials and processes to ensure the reliability and performance of electronic components. Ion exchange resins are used to effectively remove impurities in the form of charged metal ions and organic contaminants that might be used in electronic devices. Examples include semiconductor manufacturing and circuit boards, in which ion-exchange resins provide the purities necessary for good conductivity and function of the semiconductors. They pretty well contribute to the reliability and life of electronic products because they ensure that electronic materials are free of contaminants. With the boom in superior electronic devices, exchange resins are found to play a vital role with regard to quality and efficiency in the manufacturing process.
"Municipal water application is expected to account for the largest market share in water application in 2023 in terms of value."
Municipal water application is expected to account for the largest market share in water application in 2023 in terms of value. The municipal water application segment of the ion exchange resins market is crucial in ensuring clean, safe, and high-quality water is delivered to the public systems. In municipal water treatment facilities, the principal applications of ion exchange resins are water softening and deionization. Water softening entails the removal of calcium and magnesium ions that cause hardness by replacing them with sodium ions, which inhibits scale formation and prolongs the service life of plumbing and appliances. On the other hand, deionization pertains to removing all ionic contaminants using the mixed application of cation and anion exchange resins, imparting ultrapure water for critical applications.
"North America is estimated to have the second largest market share for ion exchange resins in terms of value for the forecasted period."
North America holds a significant position in the global ion exchange resins market, driven by several factors such as market in North America is mature, and hence, moderate growth is expected in several end-use industries such as power, chemical, pharmaceuticals, and electrical & electronics. DuPont (US), Ecolab (US), and Bio-Rad Laboratories (US) are the major players in North America and cater to various customers globally. The ion exchange resins market witnesses the presence of various big players who are extremely competitive in terms of product offerings. Due to this, small players have less scope in R&D and marketing, owing to huge capital costs required. The major players in North America adopt various strategies such as partnerships, agreements, & collaborations, new product and technology developments, capacity expansions, and new plant establishments to increase their market share and cater to the increasing demand for ion exchange resins.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the ion exchange resins market, and information was gathered from secondary research to determine and verify the market size of several segments.
The Ion exchange resins market comprises major players such as DuPont de Nemours, Inc. (US), LANXESS (Germany), Mitsubishi Chemical Group Corporation (Japan), Samyang Corporation (South Korea), Ecolab (US), JACOBI RESINS (Sweden), Ovivo (Canada), IEI (India), Thermax Limited (India), and Sunresin New Materials Co.Ltd. (China). The study includes in-depth competitive analysis of these key players in the ion exchange resins market, with their company profiles, recent developments, and key market strategies.
Research Coverage
This report segments the market for ion exchange resins market on the basis of type, application, end use industry, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for ion exchange resins market.
Key benefits of buying this report
This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the ion exchange resins market; high-growth regions; and market drivers, restraints, opportunities, and challenges.