Transparency Market Research (TMR) states that the competitive landscape in the global ion exchange membrane market is likely to intensify in the coming years. Some of the key players in the market are 3M, Lanxess, The Dow Chemical Company, and Ion Exchange Ltd. The regional and local companies seem to have a greater dominance in the market due to their long-term contracts and goodwill. However, big companies are expected to gain advantage in the coming few years due to their ability to acquire low-cost raw materials.
The research report states that the opportunity in the global ion exchange membrane market will be worth US$1,178.2 mn by 2024 from US$868.8 mn in 2015. During the forecast period of 2016 and 2024, the global market is projected to pace ahead at a CAGR of 3.5% as the demand for clean water continues to be on the rise.
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Developing Economies in Asia Pacific to Remain Strong Contenders in Global Market
The various types of materials available in the global market are hydrocarbon membrane, inorganic membrane, per fluorocarbon membrane, partially halogenated membrane, and composite membrane. Of these, inorganic membrane will lead the pack in the coming years. Its ability to provide selective separation of gases such as oxygen and hydrogen is expected to win the material segment a large consumer base. During the forecast period.
In terms of geography, Asia Pacific is projected to dominate the global market as the region is witnessing rapid growth of industries. The strengthening of industries such as pharmaceuticals, healthcare, electronics, and power generation in Asia Pacific will boost the demand for ion exchange in the coming years.
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Booming Industries Create Tremendous Scope for Application of Ion Exchange Membranes
The global ion exchange market is expected to thrive in the coming years against the backdrop of growing capacities of wastewater plants. The demand for ion exchange is poised to rise as the need for industrial gas processing increases. The growing demand for clean drinking water across the globe has coxed governments across the world to take measures to ensure the same. This has augmented the demand for ion exchange membranes. This trend is especially seen in developing regions of the Middle East and Africa and Asia Pacific. The global ion exchange membrane market is also likely to be favored by increasing industrial activities in areas of oil and gas, petrochemical, power, mining, and chemical. Thus the rising awareness about consuming clean water and increasing industrial activities are expected to favor market growth.
On the flip side, the global ion exchange membrane market is likely to be restrained by the fact that ion exchange membranes can lead to non-ionized organic contamination. The contamination can be a result of remaining organics getting mixed with new commercial grade ion exchange membranes, while the organic fragments get released as polymer structures by old membranes as a result of decrosslinkage of material. This kind of contamination makes ion exchange membranes redundant for any kind of usage.