Ion Exchange Resins Market was valued at USD 1.20 Billion in 2016 and is projected to reach USD 1.56 Billion by 2022, at a CAGR of 4.4%
Northbrook, IL -- (SBWIRE) -- 07/12/2019 -- The report "Ion Exchange Resins Market by Type (Cationic Resins, Anionic Resins), End-use Industry (Power, Chemical & Petrochemical, Pharmaceutical, Food & Beverage, Metal & Mining, Electrical & Electronics), and Region - Global Forecast to 2027", The ion exchange resins market is projected to grow to USD 2.0 billion by 2027, at a CAGR of 4.4% during the forecast period.
Browse 88 market data Tables and 28 Figures spread through 132 Pages and in-depth TOC on "Ion Exchange Resins Market - Global Forecast to 2027"
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Growing urbanization and increasing affluence in the APAC region and the increasing use of nuclear energy for electricity generation in emerging economies are the major drivers for the ion exchange resins market. In addition, stringent environmental regulations in many countries are also expected to drive the ion exchange resins market during the forecast period.
Cationic resins segment to lead the ion exchange resins market during the forecast period
Based on type, the cationic resins segment is projected to lead the ion exchange resins market during the forecast period. Cationic resins are commodity resins, extensively used for water softening and demineralization applications in various end-use industries, such as nuclear, water & wastewater treatment, and chemical & petrochemical, which is leading to the high growth of the ion exchange resins market.
Electrical & electronics end-use industry segment projected to grow at the highest CAGR
Based on end-use industry, the electrical & electronics segment is projected to grow at the highest CAGR during the forecast period. Ion exchange resins are receiving considerable attention as the industry needs ultrapure water to prevent the contamination of products during manufacture which would otherwise lead to low yield of electronic devices. In addition, factors such as price erosion; higher per capita income; and rising consumer demand for smartphones, tablets, and wearable electronics are also expected to drive the industry and subsequently the consumption of ultrapure water. The R&D departments of manufacturing companies are carrying out research to widen the application areas of ion exchange resins, which is expected to drive the ion exchange resins market during the forecast period.
APAC ion exchange resins market projected to grow at the highest CAGR till 2027
The ion exchange resins market in the APAC region possesses immense potential for growth. Increasing demand for nuclear electricity and the growing urbanization and increasing affluence in the region are expected to fuel the demand for ion exchange resins during the forecast period. China, India, Japan, and South Korea are some of the key countries in the region contributing significantly towards the growth of the ion exchange resins market in the APAC region.
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Some of the key players in the ion exchange resins market are DowDuPont (US), Purolite Corporation (US), Mitsubishi Chemical Corporation (Japan), Lanxess AG (Germany), Ion Exchange (India) Ltd. (India), and Thermax Ltd. (India), among others. Investments & expansions and new product and technology developments were the major growth strategies adopted by the market players to enhance their regional footprint and meet the growing demand for ion exchange resins in the emerging economies.
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