Ion exchange resins are utilised in a variety of sectors for water purification and softening. They can remove chlorine, a radioactive element, and organic compounds from water, which can then be employed for a variety of commercial uses. Some of the key end-users of ion exchange resins are food and beverage, chemical processing, power generation, electronics, wastewater treatment, and mining.
Leading players operating in the global ion exchange resins market include the Dow Chemical Company, Purolite, Ionic Systems Ltd, ResinTech Inc., Thermax Limited, Lanxess AG, Mitsubishi Chemical Corporation, Novasep, Evoqua Water Technologies LLC, Finex Oy, Eichrom Technologies, LLC, and Ion Exchange (India) Limited. Key players are investing substantial funds into research and development of new and advanced products to gain a competitive edge over others.
The global ion exchange resins market is projected to surpass US$ 1900 million by the end of 2027, in terms of revenue, growing at CAGR of 5.4% during the forecast period (2020 to 2027).
Liquid glucose, sugar refining, uranium mining, MTBE catalysis, gold mining, TAME, bisphenol A, food and beverage, industrial water treatment, ultrapure water, municipal water treatment, water softening, and medicines are some of the many applications for ion exchange resins. The pharmaceutical category dominated the market in 2016 and is expected to continue to do so in the coming years. Over the forecast period, the market is expected to grow at the fastest rate.
North America, Europe, the Middle East and Africa, Latin America, and Asia Pacific are the primary regional markets for ion exchange resins. Asia Pacific leads the global market, owing to increased demand for nuclear energy and the fast urbanisation of several of its economies. The large consumer purchasing power is a critical factor sustaining the regional market's growth. India and China are likely to account for a sizable portion of the market for ion exchange resins.
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