Ion exchange resin is an insoluble matrix found in the form of microbeads. They are produced from organic polymer substrates, and are highly porous in nature to provide larger surface area. An ion exchange resin acts as a medium for ion exchange by trapping the ions along with the release of other ions. Different types of ion exchange resins are available in the market such as anion resins, cation-exchange resin, and chelating resin. However, most of the resins that are used commercially are made up of polystyrene sulfonate. Ion exchange resins are majorly applicable in separation, purification, and decontamination, and are primarily used in water purification and water softening processes. These resins are used in other industries, such as pharmaceuticals, nuclear power generation, food & beverages, and metallurgy.
COVID-19 impact analysis
The novel coronavirus pandemic has had severe impacts on the global ion exchange resins market.
- Increase in awareness about hygiene and health have raised the concerns about the purity of water. This has fueled the growth of the water treatment industry, which, in turn, is increasing the demand for ion exchange resins.
- The demand for pharmaceutical products and medicines have skyrocketed in the period of the pandemic, which has escalated the demand for ion exchange resins in the pharmaceutical industry.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Increase in applications of ion exchange resins in major industries such as pharmaceuticals, nuclear power generation, and water treatment plant has played an important role in the growing demand of the ion exchange resins. These resins are extensively used for removing chlorine and other hazardous metals such as lead and cadmium from the water, thus making it suitable for use. In addition, they are used in replacing the magnesium and calcium ions found in hard water with sodium ions, thereby eliminating the hardness of water. They can be reused after being washed with solution having high concentration of sodium ions. However, the resins that are used for domestic purposes are not reusable. This purification process is not only limited to water purification plants but also is used in electronics industry, as highly pure water is essential for the production of semiconductors. Moreover, ion exchange resins play an important role in separating hafnium, is used in the control rods from zirconium, which has lower neutron absorbing capabilities. The ion exchange process is essential in uranium mining, and is used in metal processing industries. Furthermore, these resins have a variety of applications in the pharmaceutical industry, and play a major role in catalyzing reactions, purifying, and isolating active reagents. However, higher cost of ion exchange resins might act as a restraining factor of the market. On the contrary, upsurge in demand for nuclear energy coupled with investments in research and development to minimize the cost of resins is anticipated to boost the growth of the global ion exchange resins market during the forecast period.
Asia-Pacific holds the major share of the global ion exchange resin market, due to the rapid developments in the power generation and water treatment plants in the emerging economies such as India and China. The market in North America is expected to grow significantly, owing to the expansion of the growing pharmaceutical, mining, and nuclear power industries.
Key benefits of the report
- This study presents the analytical depiction of the global ion exchange resins industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global ion exchange resins market share.
- The current market is quantitatively analyzed to highlight the global ion exchange resins market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global ion exchange resins market research report:
- Which are the leading market players active in the global ion exchange resins market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Ion Exchange Resins Market Report Highlights
By Industry Vertical
Key Market Players
ResinTech Inc., Sunresin New Materials Co. Ltd., Samyang Corporation, Purolite Corporation, Lanxess, DuPont de Nemours Inc., Bio-Rad Laboratories Inc., Novasep Holding, Mitsubishi Chemical Corporation, Thermax Limited, Ion Exchange Ltd.