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Ion exchange resin is a polymer or resin that acts as a medium for ion-exchange. Ion exchange resin are white or yellow in colour and are mainly made up from polymerization of monomers like acrylic, phenolic or styrene compounds. These are small porous beads that provide large surface area inside them. These are mainly used for separation, purification and decontamination. There is high scope for applications in various industries including power, water treatment, chemicals & petrochemicals, pharmaceutical and others. In pharmaceutical sector, it is used for extraction and purification of enzymes, hormones, alkaloids, and viruses.
Ion exchange resins are used for water purification in chemical and wastewater treatment plant industries. Increasing demand for purified and clean water has led to rise for innovative water purification technologies, which shall boost the overall market demand. Also, rising awareness regarding water purification mainly in the industrial applications shall drive the ion exchange resins market growth.
Key Market Driver -
Increase in industrial water treatment
Key Market Restraint -
Volatility prices of raw materials
Ion exchange resins are basically made of polystyrene, where polystyrene pricing and availability is affecting the oil industry. However, the fluctuating prices of raw material owing to uncertain raw material costs and volatility in transportation and energy cost, can hamper the growth of the market.
By product, the market is segmented into anionic resin, cationic resin and others. Based on end -use, the market is categorised into power, mining, food & beverages, water & wastewater treatment, chemicals & petrochemicals, electrical & electronics, and pharmaceutical.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies in the global ion exchange resin market are Dow Chemicals, Mitsubishi Chemical Corporation, Purolite Corporation, Thermax, Lanxess, and Others.
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Regionally the ion exchange resin market is categorized into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific is the largest and fastest growing market due to the rapid urbanization and the increasing demand for power generation, shall boost the regional market. Increasing food & beverages, and pharmaceutical industries are expected to drive the North America ion exchange resin market demand. Strong mining in the region of Russia is expected to drive the European region. Latin America and Middle East & Africa are likely to register significant gains during the foreseeable time period.
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