Albany, NY -- (SBWIRE) -- 08/15/2018 -- The global ion exchange resins market is anticipated to register a CAGR of more than 4% from 2018 to 2026, according to a new report by Transparency Market Research (TMR) titled "Ion Exchange Resins Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026". Ion exchange resins are chemically inert in nature, cross-linked, and insoluble in water. These resins are polymers usually employed as ion exchange mediums. Ion exchange resins are of seven types: adsorbent resin, chelating resin, weak acid cation resin, strong acid cation resin, weak base anion resin, strong base anion resin, and mixed bed resin. Major applications of ion exchange resins include industrial and municipal water treatment, pharmaceuticals, and water softening.
Increase in Demand for Ion Exchange Resins in Food Processing Applications for Elimination of Contaminants
Increase in the incidence of food-related disorders has prompted consumers to adopt healthier food habits. According to the recent data published by Centers of Disease Control & Prevention (CDC), a federal agency that conducts health care promotion, about 3,000 people die of food-borne diseases every year. In the backdrop of this, the FDA has started making amendments in the Food Safety Act (Food Safety Modernization Act). Ingredients of food products are required to be of high purity. Sugar, sugar alcohols, high-fructose corn syrup, high-intensity sweeteners, food additives, and nutritionals such as amino acids and organic acids need to meet stringent purity specifications. The need for cost-effective technologies for removal of unwanted molecules propels the demand for ion exchange resins in the food industry. Various applications such as starch sweetener refining, beer sugar refining, sugar cane decolorization, chromatographic separation, amino acid purification, citrus debittering, juice deacidification and decolorization, citric acid and lactic acid production, plant extract and polyphenol recovery, and gelatin de-ashing are propelling the demand for ion exchange resins in the food industry.
Extensive use of water in the food industry has resulted in increase in the salinity of water in the existing natural water resources. This is expected to act as a major driving factor for the ion exchange resins market in the next few years. However, ion exchange resins are not enough efficient in removing microorganisms such as bacteria from feedwater. Instead, in several cases, they are known to aid the growth of bacteria. Hence, the demineralized water produced as a result of treatment with ion exchange resins needs to be treated with heat or UV radiations or it needs to undergo very fine filtration. This factor is anticipated to hinder the ion exchange resins market during the forecast period. The market player have been showing significant interest in the development of drug delivery systems so as to optimize the drug therapeutics and improve patient compliance. Higher drug loads are likely to be achieved with carboxylic acid resins. Recent advancements in ion exchange resins for drug delivery systems are expected to present lucrative growth opportunities to the global ion exchange resins market during the forecast period.
Mixed Bed Resin, Industrial Water Treatment, and Pharmaceuticals anticipated to be among Dominant Segments during the Forecast Period
Among products, mixed bed resins has been a dominant segment, in terms of value as well as volume, for the last few years and the trend is likely to continue during the forecast period also. The segment is expected to be followed by the adsorbent resin segment between 2018 and 2026. Ion exchange resins are utilized in order to obtain high-quality industrial water. The industrial water treatment segment held a major share of the global ion exchange resins market in 2017, in terms of volume. However, in terms of revenue, the pharmaceuticals segment held a major share of the ion exchange resins market and is anticipated to continue its dominance during the forecast period.
Growth of End-user Industries such as Pharmaceutical, Mining, and Nuclear Power anticipated to drive Market in North America
North America held more than 30% share of the global ion exchange resins market in 2017. Growth of end-user industries such as pharmaceutical, mining, and nuclear power in the region is projected to offer lucrative growth opportunities to the ion exchange resins market in North America during the forecast period. Most manufacturers of ion exchange resins such as Lanxess and The Dow Chemical Company have their production facilities in the region. The Dow Chemical Company has a stronger position in the North America market. The chemical industry in Asia Pacific is expected to expand at a moderate pace in the near future. Steady growth of the chemical sector in Asia is anticipated to offer immense growth opportunities to the ion exchange resins market in Asia Pacific in the next few years. ASEAN is also expected to become a lucrative sub-region in terms of manufacture of ion exchange resins in the near future.
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Consolidated Market for Ion Exchange Resins with a Few Top Players accounting for more than 40% of Market Share
Some of the key players operating in the global ion exchange resins market are The Dow Chemical Company, Ionic Systems Ltd, Purolite, ResinTech Inc., Lanxess AG, Thermax Limited, Mitsubishi Chemical Corporation, Ion Exchange (India) Limited, Novasep, Evoqua Water Technologies LLC, Finex Oy, and Eichrom Technologies, LLC. The global ion exchange resins market witnesses regular expansion of facilities and innovations in products and technologies by market players. In November 2017, the Dow Chemical Company launched the next generation of ion exchange resins, re-engineered specifically for achieving efficient industrial water treatment. In July 2017, Mitsubishi Chemical Corporation started selling river water treatment systems to public and private sectors in Myanmar, where the economic growth is anticipated to drive the demand for safe drinking water.
About Transparency Market Research
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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