The ion exchange resins market size in terms of value is projected to grow at a CAGR of 5.82% between 2014 and 2019 to reach $2034.64 million by 2019. Asia-Pacific held the largest share in ion exchange resins market in 2013. Major growth in the Asia-Pacific region is expected from the water & wastewater treatment application.
The ion exchange resins market in Asia-Pacific is growing fast, mainly due to growing population and urbanization in this region. Demand for drinking water, food, power and other resources are increasing with the surging population. Emerging applications such as biodiesel purification and ion exchange resins as active ingredient in pharmaceuticals are expected to create opportunities for ion exchange resins.
New product launch was the most preferred strategy among the major players in ion exchange resins market, globally. Asia-Pacific was the more preferred region for expansions from 2011 to 2014. The major players are also enhancing their technological base and geographical reach by partnerships, agreements, joint ventures and collaborations. For example, Mitsubishi Chemical Holding Corporation (Japan) and Samyang Corporation (Korea) entered in a joint venture to manufacture ion exchange resins in Korea.
Many companies, offering ion exchange resins, are actively trying to increase their product portfolio and regional presence to cater different regional markets. These players are trying to enter the low-penetrated markets in developing regions.
The major players in the ion exchange resins market are The Dow Chemical Company (U.S.), Lanxess AG (Germany), Purolite Corporation (U.S.), Thermax Ltd. (India), Mitsubishi Chemical Holding Corporation (Japan), Ion Exchange (India) Ltd. (India), Novasep Holding S.A.S. (France) and ResinTech Inc. (U.S.) among others.