SAN JOSE, CA, Sept. 4, 2013 -- According to a report by Global Industry Analysts, Inc., the global market for ion exchange resins (IERs) is projected to reach $1.7 billion by 2018, driven by rising population, expanding application areas and stricter mandates for industrial wastewater effluent discharge.
IERs have been in use for a long time and are mostly used in water separation, decontamination, water softening and decalcification. Against the backdrop of growing population and a rising magnitude of industrial and environmental pollution, IERs have grown more involved in the water treatment process. Even though the market faces competition from membrane separation technologies, such as reverse osmosis (RO), the market for ion exchange resins is projected to fare well over the coming years, with usage of IERs as cations in water softening continuing to be the largest end-use application.
Ion exchange resins are primarily used in decontamination of surface and groundwater, industrial mining of metals and biodiesel production. Segment-wise, power generation represents the largest end-use application for ion exchange resins, while drinking water and wastewater treatment with a CAGR of 5.2 percent represents the fastest growing segment. Owing to their chemical stability, ion exchange resins face increasing adoption from new application areas such as biofuels, spectrometry, pharmaceutical, chromatography, and electronics sectors.
As stated by GIA's report titled "Ion Exchange Resins: A Global Strategic Business Report," Asia Pacific represents the single largest market worldwide. The region is also forecast to emerge as the fastest growing market with a projected CAGR of 6 percent over the analysis period. Growth is primarily attributed to large scale industrial developments and limited natural water resources. Growing industrialization has created an imperative need for conservation and reuse of water worldwide, especially in India, Taiwan, China, and other developing countries.
The report provides a comprehensive review of market trends, issues, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for all major geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, Latin America and Rest of World. Key end-use applications analyzed in the report include Chemicals, Drinking & Wastewater Treatment, Food & Beverage, Power Generation and Others.
The report can be found here.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.