The North America Ion Exchange Resins Market is expected to grow at a CAGR of 6.71% during the forecast period 2024-2029. The market value was at USD 1.25 billion in 2023, and the value is expected to reach USD 1.84 billion by the end of 2029.
North America has seen rapid urbanization in the past few years and a lot of immigration. This all has contributed to the growth of the ion exchange market. Improvement and large investments in healthcare facilities are also other factors in improving demand. Pharmaceutical industries along with mining, and nuclear power generation will boost the growing market.
The ion exchange industry is affected by volatile prices and alternatives. There can be numerous alternatives to the demineralization process and other industries do not solely depend on the Ion-exchange industry for their functioning. The North American region is the largest market of ion-exchange but the Asian Pacific region is growing with the fastest CAGR and more growth can be expected in the Asia Pacific region. Resin materials have a finite exchange capacity and every individual exchange site is likely to become full with extended usage. The resin must be recharged or regenerated to restore it to its initial condition when it is not possible to exchange ions any longer. This is a major drawback for the ion exchange resin industry.
North America, especially the USA is badly plagued by the COVID-19 virus during the major parts of 2020. Amidst this USA has prepared them for the search for the vaccine. In this process, the ion exchange industry was one of the few industries that gained during this period. Investment in the healthcare sector has also improved its position. Desalination techniques also gained popularity and it also helped in the growth of the Ion-exchange industry. Canada and Mexico have also invested heavily to find a cure for the virus.
Depending on the type, the cationic resins segment registered the protruding portion in the North America ion exchange resins market, and the same trend is foreseen to continue during the anticipated period of 2020 to 2025. They are extensively used in processes like demineralization or de-alkalization.
In terms of application, ion exchange resins are widely used in water applications, such as demineralization, separation, deionization, purification, and so on. They are very crucial in the power and chemical & petrochemical sectors, among which the power industry is a prominent consumer of ion exchange resins.
Other sectors like power, chemical & petrochemical, and pharmaceutical are majorly increasing the call for these ion exchange resins as they are used to substitute the magnesium and calcium ions in hard water with the aid of Sodium metal ions.
North America is the largest market for the ion exchange resins industry thanks to the huge investments in the pharmaceutical sector. The USA has invested a lot in healthcare facilities. Safe drinking water facilities are something North American governments are trying to provide to all the residents.
Mexico, Canada, and the USA have been trying to develop technologies to achieve the desalination of seawater. Even though natural water is abundant, consumption rates are increasingly extremely fast and advancements in the biological treatment of wastewater are encouraged by these countries.
In July 2020, Dow introduced sustainable packaging in the form of INNATE TF polyethylene resins for Biaxial orientation. This answers the industrial questions regarding high performance.
Purolite launched a new level in the innovation of the ion exchange resin simulation platform. This is called the Purolite Resin System modeling platform.
ACM Technologies recently opened a high-tech ion exchange resin regeneration unit in Gardena, CA. This new plant enables customers on the west coast to send in their spent ion exchange resins for regeneration and subsequent reuse improving the supply chain of the products.
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