The Global Market for Ion Exchange Resins is Projected to Reach US$1.8 Billion by 2020
Expanding Applications to Drive the Global Ion
Exchange Resins Market, According to a New Report by Global Industry Analysts, Inc.
GIA announces
the release of a comprehensive global report on Ion Exchange Resins. The
global market for Ion Exchange Resins is projected to reach US$1.8 billion by
2020, driven by widening application areas, surging population, and emerging
markets with large scale industrial activity.
Ion Exchange Resins (IERs)
are
indissoluble polymers that find extensive application in end use markets such
as chemicals, drinking & wastewater treatment, food & beverage, power
generation, and pharmaceuticals. Surging global population, urbanization,
pollution, and resource shortages are the prime factors driving the global
demand for IERs. Demographic trends influencing the demand for food, water, and
other resources are also poised to drive growth in the market. Further,
depleting fresh water resources, urban wastewater treatment, and increasing
demand for pure water in electronics, power generation, minerals and mining are
also expected to infuse new demand for IERs. Future growth in the market will be driven by the
increasing adoption of IERs in new application areas such as biofuels,
spectrometry, pharmaceuticals, chromatography, and electronics. The growth in
the coming years will also be driven by the increasing use of IERs in thermal
power plants, semiconductor, electronics and atomic energy applications. IERs
are positioned to benefit immensely from the initiatives taken by governments
across the world towards providing clean drinking water.
As stated by the
new market research report on Ion Exchange Resins, Asia-Pacific represents the
largest as well as the fastest growing market worldwide with a projected CAGR
of 5.6% over the analysis period. The growth in the region is driven by large
scale industrial development and limited natural water resources. Growing
industrialization has created an imperative need for conservation and re-use of
water, especially in India, Taiwan, China, and other developing countries. The
scenario magnifies the need for ion-exchange resins for water-treatment systems.
Power generation represents the largest end use application for ion exchange
resins, while Drinking & Wastewater Treatment ranks as the fastest growing
end-use market.
Major players covered
in the report include BASF SE, Eichrom Technologies Inc., Evoqua Water
Technologies, Finex Oy, Ion Exchange (India) Ltd., Jiangsu Suqing Water
Treatment Engineering Group Co. Ltd., Lanxess AG, Mitsubishi Chemical
Corporation, Novasep, Purolite Corporation, ResinTech Inc., The Dow Chemical
Company, and Thermax Limited, among others.
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