Ion Exchange Membrane Market - Growth, Trends, and Forecast (2020 - 2025)
The market for the ion exchange membrane is likely to register a CAGR of over 3.5%, during the forecast period. One of the key driving factors of the market is the surging demand from healthcare and electronics sector. However, rising health concerns, due to non-ionized organic contamination, are expected to restrain the market growth.
Increasing demand from wastewater treatment is also expected to boost the demand for the ion exchange membrane, during the forecast period.
Rise in wastewater treatment projects in developing economies is likely to provide opportunities for the market growth, in the future.
Asia-Pacific accounted for the major share of the market.
Key Market Trends
Water Treatment to Dominate the Market
Ion exchange membranes are used in a variety of applications, including purification and separation. The membrane technology offers various benefits, such as high energy efficiency, low maintenance cost, and is eco-friendly.
In the past few years, there has been an increase in the concerns of clean water for drinking and sanitation across the world, which may boost the demand for ion exchange membranes, as they are used in removing impurities from contaminated water.
In India, the Safe Drinking Water Act (SDWA) requires EPA (the United States Environmental Protection Agency) to establish regulations, to protect human health from contaminants in drinking water. The act authorizes EPA to develop national drinking water standards and ensure compliance with these standards.
Hence, owing to the aformentioned reasons, water treatment is likely to dominate the market during the forecast period.
Asia-Pacific to Dominate the Market
Asia-Pacific accounted for the highest market share, owing to the high demand from countries, like India and China.
One of the key factors behind the high demand for ion exchange membranes, in Asia-Pacific, is government policies regarding water treatment in the developing economies of the region, like China, India, and Indonesia.
The economic growth and urbanization of China are also likely to boost the demand for ion exchange membranes, as it may result in the parallel rise in demand for effective water treatment solutions.
In highly populated countries, like China and India, the need for conservation and re-use of water is rising at a significant rate.
Hence, Asia-Pacific is expected to dominate the market during the forecast period.
The ion exchange membrane market is fragmented in nature, with intense competition among the top players to capture the major share in the market. Some of the key players of the market include 3M, ION EXCHANGE, Merck KGaA, DuPont de Nemours, Inc., and LANXESS, among others.
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