According to the new market research report “Ion Exchange Resins Market by Type (Cationic Resins, Anionic Resins), Application (Water, Non-Water), End-Use Industry (Power, Chemical & Petrochemical, Pharmaceutical, Food & Beverage), and Region – Global Forecast to 2025″, is projected to grow from USD 1.8 billion in 2020 to USD 2.2 billion by 2025, at a CAGR of 4.2%, during the forecast period. Ion exchange resins are small plastic beads that have a porous structure and have the ability to absorb water. Ion exchange resins find use in various end-use industries, such as power generation, chemical & petrochemicals, food & beverage, pharmaceuticals, electrical & electronics, and metal & mining. They are also extensively used for water & wastewater treatment to soften the hard water and also for the demineralization of water.
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Cationic resins is projected to be the largest segment of the market. Cationic resins can be further divided into strong acid cation and weak acid cation. These resins are majorly used for water softening to remove hardness causing ions, softening and dealkalization, and barium & radium removal. Cationic resins have been used for commercial, industrial, and residential purposes and have gained popularity over time. Various companies are investing significant amounts of their revenues in R&D activities to find new applications of these resins, thereby, boosting their business growth rate, significantly.
Water is projected to be the faster-growing application segment. This large share of water application can be attributed to the increased use of ion exchange resins in water & wastewater treatment. The norms followed by some countries including China are increasingly resembling that of the countries in North America and Europe. As the regulations get more stringent, the demand for ion exchange resins in water applications is expected to increase further during the forecast period.
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The global ion exchange resins market size is projected to grow from USD 1.8 billion in 2020 to USD 2.2 billion by 2025, at a CAGR of 4.2%, between 2020 and 2025. The growing demand for the product in water treatment and purification purposes in industries, such as power, electrical & electronics, and metal & mining is a key factor driving the ion exchange resins market growth.
DuPont de Nemours, Inc., (US), Lanxess AG (Germany), Purolite Corporation (US), among other players, have adopted various strategies, such as investment & expansion, merger & acquisition, new product development, and partnership & collaboration between 2016 and 2020, to enhance their market shares and expand their global presence.
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DuPont (US) is one of the key major manufacturers in the ion exchange resins market. The company specializes in the production of resin products used in healthcare, residential, industrial water treatment, chemicals & petrochemical, microelectronics, and other industries. The company supplies a number of ion exchange resin products for a diverse range of applications. It is more focused on cost-oriented manufacturing than its competitors but maintains proper quality standards required by the end users. It is also focused on expanding its business globally for achieving a greater market reach and presence through mergers & acquisitions. These initiatives taken by DuPont are expected to prove beneficial for its growth over the next few years. The company also continuously focuses on its inorganic growth.
Lanxess (Germany) is another major player operating in the ion exchange resins market. The company has a broad product portfolio of ion exchange resins which find application in various industries. It has 75 production sites across the globe, which help it attain economies of scale. The company is also adopting growth strategies, for instance, new product development, to expand its presence worldwide. For example, in October 2017, the company developed new mixed-bed exchanger, the Lewatit NM 3367 to demineralize water. The product will prevent the heating system from scale formation and corrosion. This product launch gave the company a competitive edge in the ion exchange resins market. It focuses on organic as well as inorganic growth strategies, such as partnership & collaboration, investment & expansion, and new product launch to expand its business and increase its market share.
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