The SEA, EU, & Japan ion exchange resin market size was valued at USD 391.1 million in 2023. The industry is expected to expand from USD 406.8 million in 2024 to USD 589.1 million by 2032, exhibiting a CAGR of 4.7% over the study period.
Ion Exchange Resin (IER) refers to the natural or synthetic polymer containing charged functional groups that can exchange ions reversibly. The goals pertaining to environmental sustainability coupled with the demand for water treatment are fostering the market growth. Moreover, Europe, Japan, and Southeast Asia face unique issues with respect to environmental sustainability and water quality, which bolsters the demand for advanced water treatment technologies.
The market witnessed a reduction in product demand across regions owing to a drop in industrial activities, supply chain halt, and lockdowns during the COVID-19 pandemic. In addition, the distribution and production were impacted due to logistical issues and manufacturing slowdowns, and delays in projects in different industries hampered the market growth.
Fortune Business Insights™ provides this information in its research report, titled “SEA, EU, & Japan Ion Exchange Resin Market, 2024-2032”.
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Segmentation:
Rising Demand for Cationic Resins from Various End-use Sectors to Spur Segment Expansion
In terms of type, the market is bifurcated into cationic resins and anionic resins. The cationic resins segment registered the largest SEA, EU, & Japan ion exchange resin market share in 2023. The surging demand for cationic resins from different end-use sectors for demineralization, deionization, water softening, and other water treatment processes is bolstering the segment growth.
Criticality of the Product in NuclearPower Generation Activities to Fuel Segment Growth
On the basis of end-use industry, the market is divided into water & wastewater treatment, electrical & electronics, food & beverages, power, chemicals & petrochemicals, and others. The power segment witnessed the largest share in 2023. The crucial role of ion exchange resins in nuclear power generation activities is augmenting the segment expansion.
Regionally, the market is segregated into Europe, Japan, and Southeast Asia.
Report Coverage
The market research report provides in-depth insights into the strategic initiatives deployed by leading companies to keep ahead of their competition. In addition, it provides a comprehensive coverage of the latest trends, dominating segments, and the impact of the COVID-19 pandemic on the market growth. Other aspects of the report include the significant driving and restraining factors affecting the market expansion.
Drivers and Restraints:
Change inFood & Beverage Industry with Improvement in Treatment for Unparalleled Type Quality to Surge Market Growth
The product has a vital role in deionization and decolorization processes in beverage production, keeping in line with the high standards of clarity and taste that consumers demand in Japan and Europe. In addition, they are critical in sugar syrup purification, which is a necessary element of the production of food and beverages. Thus, these factors are driving the SEA, EU, & Japan ion exchange resin market growth.
However, the surging prominence of Reverse Osmosis (RO) and membrane filtration methods in the water treatment sector may impede the market growth.
Regional Insights:
Europe Leads Due to Growing Demand for Clean Energy Sources
Europe accounts for the largest share in the SEA, EU, & Japan ion exchange resin market. This can be attributed to the surging demand for clean energy sources, including nuclear power and tighter water treatment regulations, which need IERs for different purification processes.
Southeast Asia is growing owing to the increasing emphasis on improvement of water quality and environmental regulations, which is boosting product uptake in wastewater treatment applications.
Competitive Landscape:
Prominent Companies Deploy Mergers & Acquisitions Strategies to Enhance Their Solutions
Some players emphasize high-purity resins for pharmaceuticals or electronics, while others aim for the upgradation of water treatment or meeting regional requirements. Partnerships, joint ventures, and product innovations are the strategies adopted by top companies to outshine the competition. Many players are also emphasizing mergers & acquisition strategies to improve their solutions.
Key Industry Development:
- July 2022 – Evoqua Water Technologies announced the acquisition of EPICOR, Inc., a prominent manufacturer of high-quality powdered ion exchange resins. This move is expected to boost the company’s services and solutions to cater to the power market consumers better.
List of Key Players Mentioned in the Report:
- DuPont (U.S.)
- Thermax Limited (India)
- Purolite (U.S.)
- Ion Exchange Ltd. (India)
- LANXESS AG (Germany)
- Mitsubishi Chemical Group Corporation (Japan)
- Samyang Corporation (Korea)
- ResinTech, Inc. (U.S.)
- Evoqua Water Technologies LLC (U.S.)
- Sunresin New Materials Co.Ltd. (China)
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