Ion Exchange Resin Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Ion Exchange Resin Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The market for ion exchange resin is expected to witness a CAGR of around 4% during the forecast period. One of the major factor driving the growth of the market is the growing demand for ion exchange resins from various applications.

• On the flip side, bacterial contamination caused by ion exchange resins is likley to hinder the growth of the market studied.
• North America dominated the market with the largest consumption coming from United States. However, Asia-Pacific is likley to register the fastest growth rate during the forecast period.

• Fresh water, even though abundantly available, is a limited resource to humanity in the environment. The increasing need for mechanization and food safety have led to the excessive use of the available freshwater resources in the past century, without taking efforts to replenish them.
• This has created an ecological imbalance, as the wastewater produced from agriculture, industrial processes, and sewage are discarded into freshwater resources. Currently, freshwater sources have become polluted largely due to human activities making them toxic. Also, there have been reports of fires in the lakes, owing to chemical waste disposal.
• Water treatment applications have been increasing lately, owing to the strong demand for freshwater resources. Water recycling is a multi-stage process in wastewater treatment plants. Ion exchange treatment process is commonly used for water softening or demineralization. It is also used for removing other substances from water in processes, such as de-alkalization, de-ionization, and disinfection.
• Recently, ion exchange resins have been increasingly used to create drinking water. Specialized resins have been designed to treat various contaminants of concern, including perchlorate and uranium.
• There are many resins designed for these purposes, such as strong base/strong anion resin, which is used to remove nitrates and perchlorate. There are also resin beads that can be used for water softening.
• Resin materials have a finite exchange capacity. Each of the individual exchange sites will become full with prolonged use. When it is not possible to exchange ions any longer, the resin must be recharged or regenerated to restore it to its initial condition. The substances used for this, include sodium chloride, as well as hydrochloric acid, sulfuric acid, or sodium hydroxide.
• The spent regenerant is the primary substance remaining from the process. It contains not only all of the ions removed, but also contains extra regenerantions having high level of total dissolved solids. It can be treated in a municipal wastewater facility, while discharges may require monitoring.
• The efficacy of ion exchange for water treatment can be limited by mineral scaling, surface clogging, and other issues that contribute to resin fouling. Pretreatment processes such as filtration or addition of chemicals can help reduce or prevent these issues.
• With the increasing need for water treatment across the globe, the demand for ion exchange resins is projected to grow through the forecast period.

North America is expected to dominate the global ion exchange resin market during the forecast period. This is majorly because of the increasing demand for ion exchange resins from end-user industries including pharmaceutical, mining, and nuclear power. Additionally, the increasing investments in United States pharmaceutical sector is expected to boost the demand for ion exchange resins in the coming years which in turn is likely to boost the market growth. However, Asia-Pacific is expected to be the fastest growing region during the forecast period. The governments of developing economies, such as China, India, and Indonesia in this region have been taking strict measures for water treatment.

The global ion exchange resin market is partially fragmented in nature, with no major player accounting for a major share of the global market. Some of the prominent players in the market include DuPont, LANXESS, Purlite, Mitsubishi Chemical Corporation, and Evoqua Water Technologies LLC, among others.

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