Ion Exchange Resins Market Size to Surge at the 4.8% CAGR form 2018 - 2026
Ion exchange resins are polymers that act as ion exchange mediums. They are insoluble in water, cross-linked, and chemically inert. Ion exchange resins are functionalized polymer microbeads, which are usually yellow or white in color. They consist of a fine network with numerous cavities/micropores. The polymer base of resins is manipulated in order to exchange components with surrounding solutions. Ion exchange resins are mostly used for water and wastewater treatment in various end-user industries. A substantial amount of ion exchange resins are used in chemical companies at various process stages. These resins are also used in sludge treatment plants. Recently, the chemical industry has been experiencing instability, due to high fluctuations in the dollar value. This is hampering exports.
Economic slowdown in countries such as China and Japan is also adversely affecting the industry. The water & wastewater treatment industry has immense growth potential. Moreover, only 60% of the industrial wastewater is treated, while approximately 40% of the treated water does not conform to the prescribed standards. In case of sewage treatment, the situation is more serious, as, globally, the urban area has capacity to treat just 37% of the sewage generated. North America leads the global ion exchange resins market, followed by Asia Pacific. Asia Pacific is expected to offer relatively higher growth potential to the ion exchange resins market compared to North America in the near future. This can be ascribed to growth of end-user industries such as water treatment, power generation, and mining.
The information Presented in this Review is Based on Press-Release by TMR
Around 33% of the global population faces moderate or severe water stress. The quality of underground water resources is diminishing. Thus, a global deficit for clean water is anticipated in the next decade. Furthermore, statistics suggest that around 4.5 billion people are projected to need to utilize polluted water resources by the end of the forecast period. The demand for industrial water goes hand in hand with the rate of industrialization. Rapid industrialization, especially in Asia, goes analogous with the rising demand for industrial water. Increase in water pollution in some of the major regions such as Asia is driving the need for water treatment technologies. The energy sector witnesses significant demand for water treatment. Ion exchange resins such as weak acid cation resins, strong acid cation resins, weak base anion resins, strong base anion resins, chelating resins, and mixed bed resins are used for municipal and industrial water treatment. Thus, increase in the demand for the treatment of municipal/industrial water and wastewater is anticipated to drive the global ion exchange resins market during the forecast period.