Ion Exchange Resins Market: Segmented By Type (Cationic Resins, Anionic Resins): By Application (Water, Non-Water): By End-Use Industry (Power, Chemical & Petrochemical, Pharmaceutical, Food & Beverage): Global Analysis by Market size, share & trends for 2019-2020 and forecasts to 2030
170+ Pages Research Report Ion Exchange Resins Market to surpass USD 3.16 billion by 2030 from USD 1.80 billion in 2020 at a CAGR of 5.80% within the coming years, i.e., 2020-30.
Ion exchange resins are a class of products used in the treatment of animal hides to make leather. Ion exchange resins are needed at various stages of leather processing, including burr, tanning and finishing, fatliquoring and waterproofing agents, and drum dyeing. They are often defined as alloys that return to their original shape when deformed. These alloys are lightweight and provide alternatives to traditional actuators such as pneumatic, hydraulic, and motor-based systems. Potential uses of ion exchange resins as actuators have expanded the spectrum of other ion exchange resins, including copper-magnesium, iron-manganese-silicon, and copper-aluminum-nickel -Alloys. Ion exchange resins have two stable phases: the high-temperature phase called austenite and therefore the low-temperature phase called martensite, the first is symmetrical while the second is less symmetrical. The phase change takes place mechanically or thermally.
The Ion Exchange Resins Market is predicted to project a notable CAGR of 5.80% in 2030.
The extensive expansion, combined with increased healthcare spending in the biomedical sector, should add to the demand for ion exchange resin products. The first successful application was the hydraulic clutch made of nitinol in military aircraft. Other applications such as bras, thermal and electrical actuators, and orthodontic arches have also seen remarkable growth in recent years. In addition, increasing demand for consumer electronics such as coffee makers, ovens, air conditioners, and refrigerators is expected to fuel growth in the Ion Exchange Resins Market.
Recent News and Development:
In July 2021, Dow (NYSE: DOW), the Ladies Professional Golf Association (LPGA), and the Ladies European Tour (LET) announced that Dow would be the official sustainability resource for organizations.
In December 2020, Mitsubishi Chemical Corporation decided to build a new pilot plant for carbon fiber reinforced thermoplastics (CFRTP). The plant will be located in Fukui Prefecture and is expected to start operating at the end of 2021.
Cationic Resins segment to grow with the highest CAGR during 2020-2030
The Ion Exchange Resins Market is segmented by Type into Cationic Resins, Anionic Resins. The Cationic Resins segment had the majority of the ion exchange resins market and is expected to continue its dominance over the forecast period. Cationic resins are used in a wide variety of end-use industries for descaling, treating high-salt water, and demineralizing in APAC has resulted in increased demand for cationic resins for water treatment applications. With the progress of the APAC countries, the Middle East and Africa, South America, and other regions, it is expected that the demand for ion exchange resins in various industries will increase.
Power segment to grow with the highest CAGR during 2020-2030
The Ion Exchange Resins Market is segmented by End-Use Industry into Power, Chemical & Petrochemical, Pharmaceutical, Food & Beverage. The Power industry segment accounted for the largest share of the Ion Exchange Resins Market and is growing rapidly in emerging countries such as China, India, and the United Arab Emirates, which will drive the demand for Ion Exchange Resins Market. The increasing demand from industries such as the food and beverage industry as well as the chemical and petrochemical industry continues to drive the Ion Exchange Resins Market.
Increasing adoption of chemicals in end-use industry and for pH neutralization
The Ion Exchange Resins Market has seen lucrative growth due to primary factors such as the increasing use of ion exchange resins in end-use industries such as the shoe and textile industries. Aesthetically pleasing leather shoes and improved manufacture of leather shoes have increased the use of ion exchange resins such as systems, polymers, dyeing aids, and fatliquoring agents. Ion exchange resins offer properties such as improved dimensional stability, softness, and tack and fuel their worldwide demand. Other applications of ion exchange resins such as chromium sulfate, formic acid, sodium bicarbonate, and degreasers are gaining in importance due to the increased use of these chemicals for pH neutralization, pH lowering in chrome plating and the adhesion of dye products to leather are driving the rapid growth of the Ion Exchange Resins Market.
Rising awareness towards purification and softening of water
The increasing awareness of water purification and softening in industrial applications is expected to play an important role in the growth of the Ion Exchange Resins Market in the near future. Ion exchange resins have the ability to remove chlorine, organic compounds, and radioactive elements such as uranium, thorium, and lanthanum, expanding its scope in chemical processing, food and beverage, wastewater treatment, power generation, electronics, and mining. The above growing application industries are expected to drive the growth of the Ion Exchange Resins Market in the near future. It is mainly used for water purification and softening in power generation applications.
Strict rules and regulations
Strict rules and regulations such as the European Commission and EPA are expected to have imposed various guidelines restricting the use of water treatment to stifle the growth of the Ion Exchange Resins Market. The production of ion exchange resins is expected to constrain the growth of the Ion Exchange Resins Market during the forecast period.
Impact of the COVID-19 on the Ion Exchange Resins Market
The Global market for ion exchange resins is severely affected by the outbreak of the COVID19 pandemic. The suspension of industrial activity affected the ion exchange resins market due to weak consumer confidence, store closures, and depletion of consumer incomes. It has changed consumer behavior and reduced the demand for ion exchange resins. To curb the spread of the coronavirus, the governments of several countries have imposed travel restrictions that seriously affect the supply of raw materials for leather production. Labor shortages, interruptions in the supply chain, and delayed shipping hampered leather production. Since the pandemic, leather exports have declined and the use of ion-exchange resins for production has declined.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Ion Exchange Resins Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. The Ion Exchange Resins Market in the APAC region is expected to account for the largest share and experience the highest CAGR over the forecast period. The continuous increase in the production of ion exchange resins for use in the region and for export is driving their demand in the region. In addition, the growing population and the growth of the consumer industries have led to innovation and development, making APAC a major industrial hub worldwide. such as China, India, Malaysia, and Saudi Arabia offer growth prospects for the market for ion exchange resins due to the growing demand and need for clean water in these countries.
Ion Exchange Resins Market is further segmented by region into:
Ion Exchange Resins Market Segments:
|Market size value in 2020
|USD 1.80 billion
|Revenue forecast in 2030
|USD 3.16 billion
|CAGR of 5.80% from 2021 to 2030
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2030
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Basis, Type, Application, End-Use Industry, and Region
|North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
|Key companies profiled
|The Dow Chemical Company, Lanxess AG, Purolite Corporation, Mitsubishi Chemical Corporation, Thermax Limited, Ion Exchange (India) Ltd., Novasep Holding SAS, Samyang Corporation, ResinTech Inc, Anhui Sanxing Resin Technology Co. Ltd.
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