Ion exchange resins are polymers that act as a medium for ion exchange in a solution. They are typically in the form of small microbeads fabricated from an organic polymer substrate and act as a support structure or insoluble matrix. These resins have the ability to remove chlorine and organic compounds from water. Therefore, demand for ion exchange resins is anticipated to experience a significant push with the spiraling need for clean drinking water.
Demand in Pharmaceuticals to Rise at Healthy Pace
Environmental protection will continue to account for a large share in the market through 2022. Rising concerns regarding environment degradation coupled with increasing measures taken by governments worldwide are encouraging the adoption of ion exchange resins for environmental protection. For instance, Lanxess AG says that its Lewatit ion exchange resins and reverse osmosis element of its Lewabrane brand are being used in wastewater treatment in the Tiruppur region of Tamil Nadu, India. Hundreds of textile industries were discharging massive volumes of effluent, generated during bleaching and dyeing of fibers and fabrics, into the river Noyyal, which is an important source of potable water for the entire region. At present, about 24,000 cubic meters of wastewater is being treated in the region everyday with ion exchange resins and membrane elements from the company, thereby promoting environmental protection.
Pharmaceuticals will register a remarkable growth between 2016 and 2022. Growing prominence of ion exchange resins in drug delivery systems owing to their efficiency is expected to contribute to the growth of the segment.
Market Insights
Ever-increasing demand for power in the form of electricity is poised to help the global ion exchange resins market gain significant traction. Rising dependence on green energy sources such as wind energy, biogas, and nuclear energy is boosting the importance of feed water quality. Rapid industrialization and urbanization are also estimated to provide a fillip to the market in near future. Besides this, technological improvements can play a significant role in the development of the market, according to a report added by Radiant Insights, Inc. However, protean raw material prices can inhibit market growth.
Southeast Asia and China are anticipated hold prominent positions in the market throughout the forecast horizon (2012 to 2022). Depleting natural water resources and increasing industrialization can work in favor of the market in these regions. Some of the key players in the global arena are The Dow Chemical Company, Mitsubishi Chemical Corporation, Samyang, Finex Oy, and Purolite Corporation.
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