Ion Exchange Resins Market 2022 Outlook, Current and Future Industry Landscape Analysis 2026
While the global scenario of the ion exchange resins market reflecting the increasing use of ion exchange resins in power generation, followed by domestic wastewater treatment applications, the ion exchange resins market is subjected to a crunch due to the advent of alternative technologies that include electro deionization and reverse osmosis. The exceeding efficiency and advancement in technology are the major reasons why consumer preferences are shifting from conventional ion exchange resins towards these new alternatives.
Ion Exchange Resins Market to register moderate growth
owing to changing preferences
This shift of preference is projected to affect the ion
exchange resins market adversely and further deteriorate the pace of expansion
of ion exchange resins market. Owing to this scenario, the ion exchange resins
market is expected to project a moderate growth with a CAGR of 5.4% over the
forecast period of 2016 to 2026. Owing to these factors the accumulation of
spent ion exchange resins and their disposal is being governed by regulations
to ensure that they cause no potential harm. Despite the shortcomings, the ion
exchange resins market is expected to be valued at over US$ 1,830 million by
2026-end.
Stringent regulations towards water conservation and the
decreasing availability of fresh water is expected to drive the growth of the
ion exchange resins market. Agencies such as Environmental Protection Agency
(US) and India Water Works Association (India) are seen framing the regulations
for water disposal. These actions towards water conservation and treatment are
expected to fuel the demand for ion exchange resins across the globe. Water
treatment process is, therefore, expected to be the major factors influencing
the growth of ion exchange resins market.
Based on region, the APEJ region is projected to account for
a comparatively high-value share and witness a CAGR of 7.0% over the period of
forecast. In terms of volume, China is projected to dominate the ion exchange
resins consumption in the APEJ region, whereas India is anticipated to witness
comparatively faster growth during the forecast period. The factors influencing
this market scenario are related to the growing demand for ultra-pure water in
the Asian regions, especially China on account of the increasing number of
power plants. As ultra-pure water is obtained by using ion exchange resins,
several players in the ion exchange resins market offer resins exclusively for
the power, pharmaceuticals, and electrical industries to produce ultra-pure
water.
Key Developments to trigger the demand for ion exchange
resins
Industry players are expected to synergize efforts towards
the development of distinct and product offerings tailored for specific
applications. Key players of the ion exchange resins market such as Dow
Chemicals and Lanxess have indulged in differentiation strategies by
emphasizing on novel products to cater to the requirements of a comparatively
niche market. On account of this, Dow Chemicals introduced their next-gen Dowex
marathon ion exchange resins that are re-engineered to enhance the efficiency
of water treatment processes.
Ion Exchange India Ltd. provides water treatment services,
predominantly in India, followed by a range of products and recycling plants
for water treatment and wastewater treatment. The company has opted for a joint
venture with Safic, a South-African based company for strengthening its global
footprints, followed by which they marketed the water treatment equipment and
chemical and resins products throughout the South-African region. Furthermore,
their constant actions for expanding in the Middle-East and Africa (MEA) region
are supported by their chemical blending unit in Bahrain for increasing revenue
and strengthening its market share.
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