Asia Pacific is projected to dominate the global ion exchange resins market over the forecast period 2018-2023
The global ion exchange resins market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
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Rapid industrialization and urbanization owing to relaxed investment norms, growing the economy and expanding population pose a serious water contamination problem in the Asia Pacific region. This has led to the increased requirement for water treatment facilities for both industrial and municipal water treatment applications, and thus Asia Pacific ion exchange resins market is expected to witness bolstering demand over the forecast period.
Furthermore, strong growth of the mining industry in China and Australia is likely to add fuel to the demand for ion exchange resins in water treatment applications over the forecast period. Regional chemical & petrochemical industries are also expected to witness a huge demand for ion exchange resins for effluent wastewater treatment applications over the forecast period. Growing power industry on account of surging power requirement across the region is also likely to drive high demand for ion exchange resins for water treatment applications over the forecast period.
Growing applications of ion exchange resins in food & beverages and pharmaceutical are also expected to witness a considerable market growth over the forecast period. Strong electronics industry of Japan, China, South Korea, and Taiwan is also expected to ensure steady revenue source for ion exchange resins owing to its application in producing ultraclean water to meet the precise needs of the electronics industry for wafer and microchip production.
North America followed Asia Pacific in terms of market size in 2017 and is expected to show a significant demand over the forecast period. Ion exchange resin are likely to witness a significant demand from the mature mining and chemical industries for water treatment applications over the forecast period. Additionally, growing applications of ion exchange resins in end-use industries such as food & beverages and pharmaceuticals are subject to show rising demand of ion exchange resins over the assessment period.
Europe is expected to exhibit a steady demand for ion exchange resins over the forecast period. Mature mining industry in Russia is likely to generate huge demand for ion exchange resins in metal removal & recovery applications. Furthermore, end-use industries, for instance, regional chemical & petrochemical industry and microelectronics industry of Germany are projected to witness steady revenue source for ion exchange resins over the forecast period
The Middle East & Africa are expected to witness rising demand for ion exchange resins over the forecast period 2018-2023. Ongoing infrastructural projects to flourish tourism industry, which is likely to create a huge scope for water treatment industry. Thus, it is expected to boost the demand for ion exchange resins. Additionally, end-use industries such as chemical & petrochemical and power industry are also likely to drive the demand for ion exchange resins for water treatment applications over the forecast period. Ion exchange resins are also likely to experience strong demand from the established mining industry of Morocco over the forecast period.
Latin America is also expected to show rising demand for ion exchange resins over the forecast period. Growing water treatment industry on account of growing construction activities, the wide scope for water treatment, and rising mining industry on account of its favorable geology, reduced cost profile, and attractive mining environment are the factors contributing to the rising demand of ion exchange resins over the forecast period.
Market Segmentation
The global ion exchange resins market is segmented by type, raw material, matrix structure, end-use industry, and region.
On the basis of the type, the global ion exchange resins market is segmented into cation exchange resins, anion exchange resins, chelating resins, mix bed resins, adsorbent resins, and others. Cation exchange resins are sub-segmented into strong acid cation resins and weak acid cation resins. Anion exchange resins are sub-segmented into strong base anion resins and weak base anion resins.
On the basis of the raw material, the global ion exchange resins market is segmented into polystyrene copolymer, polyacrylic copolymer, cross-linked polystyrene, and others.
On the basis of the matrix structure, the global ion exchange resins market is segmented into porous beads, microporous beads, gel, powder, sheet, and others.
On the basis of the end-user industry, the global ion exchange resins market is segmented into water treatment, hydrometallurgy & metal finishing, food & beverages, pharmaceutical, and others. Water treatment segment is sub-segmented into industrial water treatment and municipal water treatment. Industrial water treatment is further segmented into chemical & petrochemical, power, electronics, and others.
On the basis of the regions, the global ion exchange resins market is segmented into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America.
Competitive Analysis
Some of the key players in the global ion exchange resins market are DowDuPont Inc. (U.S.), Ionic Systems Ltd. (UK), Purolite (U.S.), Mitsubishi Chemical Corporation (Japan), Lanxess AG (Germany), Ion Exchange (India), Thermax Global (India), Novasep Holding (France), SAMYANG CORPORATION (South Korea), Samco Technologies, Inc. (U.S.), and Thermo Fisher Scientific (India).
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