Ion Exchange Resin Market Trends

Growth Drivers

• Rising Need for Treating Water- The removal of different contaminants from water, such as natural organic matter (NOM), surfactants, medicines, heavy metal ions, anions, and colours, is commonly accomplished using ion exchange resins. For sustainable development and the eradication of poverty, safe drinking water, and proper sanitation are essential. According to the United Nations, around the world, 884 million people lack access to clean drinking water.
• Growing Production of Nuclear Energy – At nuclear reactors, organic ion-exchange resins are deployed to filter radioactivity out of waste streams and process liquids. The International Energy Agency estimates that nuclear power recovers and grows by 2% in 2021, reversing barely half of the output decline that occurred in 2020. In the second half of 2020 and the first quarter of 2021, seven additional reactors went online.
• Higher Production of Precious Metals – Through reversible ion exchange interactions between the opposite charge in the resins and the minerals complex in the solutions, the ion exchange resin can be utilized to recover rare minerals from its solutions. The industrial demand for platinum is anticipated to expand in 2023, rising by 12% annually to 2.505 million tons. Moreover, platinum investment is expected to rise in 2023, which is likely to further raise production.
• Growing Problems of Gastrointestinal Tract –Ion exchange resin enhances the absorption of other medications from the gut and thus paces up the effect of the drug in cases of gastrointestinal tract and digestive health issues. An investigation of more than 73,000 people across 33 nations demonstrates that nearly every 4 in 10 persons on the planet experience functional gastrointestinal diseases, which can range in severity from mild to severe.
• Higher Consumption of Beverages– The ion exchange resin is currently being introduced to the beverage sector for juices and wines for recovering, separating, and purifying biochemicals and enzymes. Global orange juice output reached around 2 million metric tons at 65 degrees brix during the marketing year 2021–2022.

Challenges

• Presence of other alternative technologies – In many industries, the ion exchange resin has proven to be less ineffective in the treatment of wastewater, as they fail to remove bacteria from feed water. Therefore, these advantages have pushed companies and governments to use other procedures such as electro-deionization and reverse osmosis for wastewater treatment. The high adoption of these alternatives is likely to hamper the ion exchange resin market growth.
• Strict regulations imposed on the disposal of ion exchange resin
• Fluctuating process of the raw materials