Ion Exchange Resin Market Analysis by Type (Cationic Resins, and Anionic Resins); by Application (Water, and Non-Water); and by End-Use Industry (Power, Electronics, Chemical & Petrochemical, Pharmaceutical, and Food & Beverage) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 4783 | Published Date: Apr 04, 2023
The global ion exchange resin market size is estimated to reach USD 6.77 Billion by the end of 2035 by growing at a CAGR of 7.2% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of ion exchange resin was USD 2.94 Billion. The growth of the market can be attributed to the increasing amount of water being treated all across the world. Ion exchange resin helps in extracting the organic minerals from the water. Deduced to data from 128 nations representing 80% of the world's population, 56% of home wastewater flows were safely treated globally in 2020 as per the data of the United Nations. Moreover, in 129 nations, there are around 109,000 municipal wastewater treatment facilities that serve nearly 3 billion people, or approximately 35% of the world's population.
In addition to these, factors that are believed to fuel the market growth of ion exchange resin include the growing demand for microchips all across the world. Ion exchange resins are made specifically to fulfill the exact specifications of the electronics industry for wafers and microchips. Owing to the huge shortage of semiconductor chips during the pandemic, manufacturers are boosting their production. Moreover, to decrease the effects of global supply-chain disruptions, some governments are likewise increasing their investments in semiconductor technology. On the other hand, growing production and mining of rare minerals are also expected to boost the market growth.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
7.2% |
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Base Year Market Size (2022) |
USD 2.94 Billion |
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Forecast Year Market Size (2035) |
USD 6.77 Billion |
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Regional Scope |
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Growth Drivers
Challenges
The global ion exchange resin market is segmented and analyzed for demand and supply by end-use industry into power, electronics, chemical & petrochemical, pharmaceutical, and food & beverage. Out of the five end-use industries of ion exchange resin, the power segment is estimated to gain the largest market share in the year 2035. The growth of the segment can be attributed to the rise in the number of nuclear reactors. In the world there were nearly 439 nuclear reactors in use as of May 2022, spread over about 30 different nations. At the time, the United States led the world with around 92 operational nuclear power reactors. In several systems in nuclear power reactors, ion exchange resins are utilized to remove particular impurities. The advanced liquid processing system (ALPS), condensate polishers, reactor water cleanup, lithium removal beds, deborating beds, and steam generator blowdown are the few systems of a nuclear plant that uses ion exchange resin. Moreover, various types of resins are used in the plant including anions, cations, and mixed beds.
The global ion exchange resin market is also segmented and analyzed for demand and supply by type into cationic resins, and anionic resins. Amongst these two segments, the cationic resins segment is expected to garner a significant share of around ~60% in the year 2035. Cationic resins are used in various industries for the purpose of demineralization, dealkalization, and other treatment of water. The need for water treatment is further boosted by the growing prevalence of urbanization. Positively charged ions in solution are drawn to negatively charged functional groups found in cation exchange resins, it is used in removing positive ions from contaminated water. Weak acid cation resins are typically employed in water treatment to eliminate the divalent ions linked to alkalinity. When water has a hardness-to-alkalinity to alkalinity ratio of 1:1 or above, weak acid cation resins perform at their best efficiency. On the other hand, strong acid cation resins may be utilized for split-stream dealkalization.
Our in-depth analysis of the global ion exchange resin market includes the following segments:
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By Type |
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By Application |
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By End Use Industry |
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The market share of ion exchange resin in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~32% by the end of 2035. The growth of the market can be attributed majorly to the increasing capacity of wastewater plants. For instance, according to the International Atomic Energy Agency, a sixth of the plant's output or around 1500 cubic meters per day can be treated at the new facility in Jinhua City, which is 300 kilometers south of Shanghai. Moreover, in June 2022, China launched the largest wastewater treatment facility using electron beam technology in the world, with a daily capacity to treat 30 million liters of industrial effluent. Based on technology that the IAEA has been transferring since 2010, the treatment process will save 4.5 billion liters of fresh water every year, which is enough to satisfy the thirst of 100,000 people.
The North American ion exchange resin market is estimated to be the second largest, registering a share of about ~28% by the end of 2035. The growth of the market can be attributed majorly to the increasing production of minerals. According to the U.S. Geological Survey, about 86.3 billion pounds of minerals were produced by American miners in 2019—more than 2 billion pounds more than the finalized output figures for 2018. Moreover, around 18,000 kg of platinum group metals, worth roughly USD 1.4 billion, were created by one company in Montana. On the other hand, the rising demand for microchips for electrical equipment is also expected to boost the market growth in the region.
Further, the market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the rising construction of nuclear reactors which in turn is expected to increase the need for treating huge volumes of wastewater. As of May 2022, the UK's Hinkley Point C1 and C2 nuclear power reactors, each with a gross electrical capacity of around 1,720 megawatts, were the largest nuclear power reactors being built worldwide. In addition to this, with around 1,650-megawatt capacity, Flamanville 3 was the second-best power plant in France. Furthermore, the rising capacity of water and wastewater treatment facilities is also expected to boost market growth. Urban wastewater treatment facilities around Europe address a wide range of situations, including different types of sewage, population density, and water quality standards.
DuPont announced the expansion of ion-exchange resin production to fulfill the demand for its pharmaceutical goods, such as excipients and active pharmaceutical ingredients. This expansion may increase supply security for enhancing current and upcoming medicine compositions by incorporating important technologies into its production.
Laxness presented its range of products for treating, cleaning, and processing water by ion exchange resins. The products were showcased at Aqautech in both Netherlands, and Amsterdam.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Smruti Ranjan, Rajrani Baghel
Ans: Increasing demand for wastewater treatment, rise in the number of nuclear reactors, and growing issues of the gastrointestinal tract are the major factors driving the market growth.
Ans: The market size of ion exchange resin is anticipated to attain a CAGR of 7.2% over the forecast period, i.e., 2023 – 2035.
Ans: The changing price of raw materials, and the growing preference for the alternative of ion exchange resin are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are DuPont de Nemours Inc., Lanxess, Purolite Corporation, Mitsubishi Chemical Group Corporation, Thermax Limited, ResinTech, Inc., SAMYANG CORPORATION, Suqing Group, Evoqua Water Technologies LLC, and Sunresin New Materials Co. Ltd.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, application, end use industry, and by region.
Ans: The power segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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