Albany, NY -- (SBWIRE) -- 11/06/2017 -- According to Transparency Market Research, the global ion exchange membrane market will exhibit a moderate 3.5% CAGR over the period between 2016 and 2024, rising from a valuation of US$868.8 mn in 2015 to US$1,178.2 mn by 2024.

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In terms of material, inorganic membrane is the most commonly consumed ion exchange membrane, as it offers high selective separation of gases such as hydrogen and oxygen. The segment presently accounts for the dominant share in the global ion exchange membrane market and is expected to retain dominance over the forecast period as well. In terms of geography, Asia Pacific dominated the ion exchange membrane market in 2015. This trend is expected to continue during the forecast period due to the increasing demand for ion exchange membrane in industries such as pharmaceuticals, healthcare, electronics, and power generation.

North America and Europe collectively held more than 40% of the total consumption of ion exchange membrane in 2015. The ion exchange membrane market in these regions is anticipated to exhibit stable growth during the forecast period. The North America market for ion exchange membranes is expected to witness a slight decline in its share in the global market by 2024. From accounting for over 25% in 2015 to an estimated 24.6% by 2024, the North America ion exchange membrane market will suffer from the lack of new growth opportunities over the period between 2016 and 2024.

Some of the key companies operating in the global ion exchange membrane market are The Dow Chemical Company, Lanxess, 3M, Ion Exchange Ltd., ResinTech Inc., and General Electric Company.

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