ALBANY, New York, July 12, 2019 /PRNewswire/ -- Ion exchange resin is principally utilized as a part of waste water treatment. Ion resins for example weak base anion resins, weak acid cation resins, mixed bed resins, strong acid cation exchange resins, and strong base anion exchange resins are used in several end-use sectors for instances chemical, nuclear, power generation, pharmaceutical, F & B, etc.
According to a recent report by Transparency Market Research (TMR), the global ion exchange resins market is expected to flourish at a steady CAGR of 4.8% within the forecast period from 2018 to 2026.
Need for Processed Water in Several Industry Application to Surge Demand in Ion Exchange Resins Market
Significant strategies utilized by smart players in the global ion exchange resins market are product upgrade through research, improving regional and geographical reach, and overcoming of existing limitations. Another factor driving the market is the rising industrialization and urbanization. This is on the grounds that, quick urbanization is making a squeezing requirement for treating substantial volumes of sewage water and clean water and heavy industries for different industrial procedures. Industrial procedures, for example cooling, rinsing, heating, etc., require huge quantity of processed water.
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Expanding awareness regarding purification and softening of water in modern applications is required to assume an essential part in driving ion exchange resins market towards development in the coming years. Ion exchange resins can remove chlorine, natural impurities and radioactive components, for example, uranium, thorium and lanthanum bringing about surging application in food and drinks, chemical manufacturing, energy production, waste water treatment, and hardware and mining. Developing aforementioned application enterprises are likely to drive ion exchange resins market development in the future. Ion exchange resins are significantly utilized for water purification and softening in energy generation applications.
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The municipal water treatment and industrial water treatment together record for extensive share in the market. This is a direct result of the developing industrialization worldwide and water contamination by virtue of inappropriate transfer of waste. Applications of liquid glucose and uranium mining are additionally anticipated to develop at a solid clasp. This is on the grounds that ion exchange resins are utilized as a part of the last phases of fluid glucose production for the removal of strong impurities. Ion exchange resins additionally discover application for the recovery of uranium from water sources, particularly mine water tracks.
External Environment Factors to Obstruct Ion Exchange Resins Market from Achieving Full Potential
However, external factors such as, temperature and light are likely to hinder the market growth in coming years. Nevertheless, the players in the market are consistently working towards developing more advanced products, and upgrading the existing ones to overcome certain obstructions.
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From a geographical point of view, the global market is led by North America, which represents the highest share of the global ion exchange resins market since past few years. Asia Pacific trails the region as another one of the biggest markets by virtue of industrial development in India and China. These countries have expanded water pollution, resultantly fueling the demand for ion exchange resins in forthcoming years. Improved government policies on infrastructural growth and industrial development in Oman, Saudi Arabia, and UAE is relied upon to positively affect market development throughout the coming years.
Competitive scenario of the global ion exchange resins market is quite consolidated, with 40% share of market by top four global players, in 2017. Important players lading the global ion exchange resins market are The Dow Chemical Company, Mitsubishi Chemical Corporation, and Lanxess AG, Purolite.
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This analysis is based on a recent market research report by Transparency Market Research, titled, "Ion Exchange Resins Market (By Product - Adsorbent Resins, Chelating Resins, Strong Acid Cation Resins, Weak Acid Cation Resins, Strong Base Anion Resins, Weak Base Anion Resins, Mixed Bed Resins; Application - Sugar Refining, Liquid Glucose, Uranium Mining, Gold Mining, MTBE Catalysis, TAME, Bisphenol A, Industrial Water Treatment, Food and Beverages, Ultrapure Water, Pharmaceuticals, Municipal Water Treatment, Water Softening) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026."
The global ion exchange resins market has been segmented as follows:
- Adsorbent Resins
- Chelating Resins
- Strong Acid Cation Resins
- Weak Acid Cation Resins
- Strong Base Anion Resins
- Weak Base Anion Resins
- Mixed Bed Resins
- Sugar Refining
- Liquid Glucose
- Uranium Mining
- Gold Mining
- MTBE Catalysis
- Bisphenol A
- Industrial Water Treatment
- Food & Beverages
- Ultrapure Water
- Municipal Water Treatment
- Water Softening
- Others (Other Mining, Other Chemicals, etc.)
- End-user Industry
- Industrial Water Treatment
- Municipal Water Treatment
- Electrical & Electronics
- Power Generation
- Nuclear Power
- Food & Beverages
- Chemical Production
- Others (R&D, etc.)
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