by The ion exchange membrane is finding increasing applications in water and wastewater treatment owing to its property to selectively transport ions based on their charge and migration rate. Used in various industrial processes like production of high purity water, desalination, and purification of process streams, ion exchange membranes help remove inorganic and organic impurities from water in an efficient manner. Such growing demand from the water and wastewater treatment industry is driving the global ion exchange membrane market.
The global Ion Exchange Membrane Market is estimated to be valued at US$ 908.33 Mn in 2023 and is expected to exhibit a CAGR of 28% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Ion exchange membranes have the ability to selectively allow ions of a particular charge to pass through while blocking ions of opposite charge, hence used in a variety of water treatment applications. These membranes are highly stable and last longer as compared to conventional ion exchange resins. They help reduce capital and operating costs of treatment plants through compact system design and continuous process operations respectively. The potential of ion exchange membranes to provide high-purity water at lower energy consumption has boosted their adoption in industries like power generation, pharmaceuticals, food & beverages and others having stringent water quality norms. The global ion exchange membrane market is thus thriving on the back of growing industrial water treatment needs worldwide.
Market key trends:
One of the key trends driving the ion exchange membrane market is the increasing R&D towards development of advanced membranes that can operate efficiently under extreme conditions like high temperatures and pressures. With industries pushing for more intensive and cost-effective processes, membrane manufacturers are investing in nanotechnology and new polymer materials to manufacture heat resistant membranes tolerant to steam, hot water and chemical cleaning cycles. This will augment the application of ion exchange membranes in newer thermal technologies and harsh chemical separation processes going ahead. Furthermore, eco-friendly ion exchange membranes using bio-based polymers are also gaining traction to support sustainability goals of end-use industries. Such membrane innovation is expected to fuel market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The ion exchange membrane market requires high R&D investment and has presence of established players which poses moderate threat for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of numerous players operating in the market.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitutes.
Threat of new substitutes: Threat of new substitutes is low as ion exchange membrane has limited substitutes.
Competitive rivalry: The global ion exchange membrane market is moderately competitive due to presence of numerous regional and international players.
Key Takeaways
The Global Ion Exchange Membrane Market Size is expected to witness high growth. The global Ion Exchange Membrane Market is estimated to be valued at US$ 908.33 Mn in 2023 and is expected to exhibit a CAGR of 28% over the forecast period 2023 to 2030.
Asia Pacific region currently dominates the market and is expected to maintain its leading position during the forecast period owing to growing demand from industries such as chemical processing, energy and power, and pharmaceutical in China and India. This is attributed to rapid industrialization, growing population, and increasing demand for ion exchange membrane from chemical processing industry in emerging Asian countries like China and India.
Key players: Key players operating in the ion exchange membrane market are Abstract Chemical, Alliance Organics LLP, Chemworld International, Ltd., Clariant, Dynemic Products Ltd., DyStar Singapore Pte Ltd, Hina DyeChem Industries, Koel Colours Pvt. Ltd, Krishana Enterprises, Neelikon, Pylam Products Company, Inc., Radiant Color, Sku Pigments Pvt. Ltd., Spectra Colors Corporation, Sudarshan Chemical Industries Limited, Sugai Chemical Ind.Co., Ltd., and Suraj Dye Chem.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
