According to the latest report by IMARC Group, titled “Ion Exchange Resins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global ion exchange resins market size reached a value of around US$ 1.6 Billion in 2017. An ion exchange resin is an organic compound that is synthetically polymerised to act as a medium for ion exchange which is a reversible interchange of ions. These resins are porous and lightweight solids which are prepared in different forms such as beads, sheets or granules. Other than this, ion exchange resins are insoluble in water, cross-linked and chemically inert in nature. They can be categorised into various forms including chelating resin, adsorbent resin, mixed bed resin, etc. The demand for ion exchange resins is rising on account of a rise in the awareness of consumers to purify water used in industrial applications across the globe.
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Ion exchange resins are used in the chemical industry for providing chemical stability during several stages of processing which has positively influenced the growth of the ion exchange resins market. Along with this, governments of various nations have starting implementing stringent regulations regarding water conservation as a result of scarcity of fresh water which has had a direct impact on the propelling demand for ion exchange resins across the globe. Additionally, over the years, there has been a rising need for the use of highly pure ingredients in the preparation of several food products. Therefore, ion exchange resins are being increasingly used for the elimination of unwanted molecules from sugar alcohols, high-intensity sweeteners, sugar, food additives and high-fructose corn syrup. However, the use of ion exchange resins leads to chlorine contamination and organic contamination of resins which might act as a hindrance for the growth of the global market. Looking forward, the market value is projected to reach nearly US$ 2 Billion by 2023, expanding at a CAGR of over 3.6% during 2018-2023.
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