Press release
Ion Exchange Membrane Market to Reach Valuation of ~US$ 1 Bn by 2027
The global ion exchange membrane market is expected to be valued at ~US$ 1 Bn by 2027, expanding at a CAGR of 3.5% during the forecast period. Rise in demand for clean drinking water and governmental initiatives to ensure supply of clean water are key factors driving the ion exchange membrane market. Additionally, increase in scarcity of water is boosting the ion exchange membrane market.
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Key Drivers of Ion Exchange Membrane Market
The global ion exchange membrane market is primarily driven by growth of the global wastewater treatment industry. The membrane filtration technology is mostly utilized for wastewater treatment. Demand for the wastewater technology has been rising over the last few years, due to increase in demand for purified water. The expansion of the global industrial oil & gas processing sector is projected to drive the global ion exchange membrane market during the forecast period. Water is utilized in various processes in the oil & gas industry, and is highly contaminated and harmful for water bodies. Hence, companies undertake measures to purify this water and then discharge it into the sea or reuse it internally.
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Anion Exchange Membrane to Offer Lucrative Opportunities
The anion exchange membrane segment held a prominent share of the ion exchange membrane market in 2018. However, its dominance is expected to be surpassed by the anion exchange membrane segment during the forecast period. Anion exchange membranes are employed widely owing to their rising usage in water purification. Cation exchange membranes are also extensively used in water purification. The cation exchange membrane segment is expected to expand at a CAGR of 3.3% during the forecast period. Production of cation exchange membranes is inexpensive and less complicated as compared to that of anion exchange membranes.
Heterogeneous Structure Offers Useful Properties
Based on structure, the ion exchange membrane market has been bifurcated into homogenous membrane and heterogenous membrane. The classification is based on the degree of heterogeneity in the membrane structure. Heterogeneity provides useful properties such as permselectivity, conductivity, and mechanical and chemical stability. It also positively affects the ionic and electrical transfer behavior of the ion exchange membrane during the operation. The heterogenous membrane segment dominates the ion exchange membrane market.
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Asia Pacific Holds Prominent Share of Ion Exchange Membrane Market
In terms of region, Asia Pacific accounted for leading volume share of the global ion exchange membrane market in 2018, due to the rise in investments by governments of countries such as China, India, and Thailand in the construction sector.
North America and Europe hold vital share of the global ion exchange membrane market, led by the presence of well-established players in these regions. The ion exchange membrane market in Asia Pacific is likely to expand at a rapid pace during the forecast period, owing to the substantial increase in water recycling and industrial wastewater management activities in developing economies such as China and India.
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Key Players in Global Market
The global ion exchange membrane market is consolidated, with the presence of a number of large manufacturers. Companies operating in the global ion exchange membrane market are investing significantly to expand their product specifications and improve distribution networks. Major players operating in the ion exchange membrane market include DuPont, The Dow Chemical Company, LANXESS AG, 3M, SUEZ, Toray Industries Inc., Merck KGaA, and Ion Exchange Ltd.
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