Global Ion Exchange Membrane Market: Snapshot
Ion Exchange Membrane find vast usages in a variety of applications such as electrodialysis, waste water treatment, chromatographic separation, electrolysis, and desalination. This is due to its property of ultrafiltration, microfiltration and separation of various substances. Ion exchange membranes are available in terms of different charges, different materials and different structure for filtration of varied substances.
According to the report, the global ion exchange membrane market is likely to exhibit a 3.4% CAGR over the period between 2016 and 2024.
Heterogeneous Membranes to Remain Most in-Demand Variety
The market is segmented base on the structure of ion exchange membrane into homogenous and heterogeneous membranes. Homogeneous membranes are manufactured by adding ionizable functional groups to a polymeric film. These membranes are expensive and have a smooth surface and thinner composition with lower resistance. Their surfaces are less liable to fouling and could be modified to alter the membrane permselectivity to protons, monovalent ions, and divalent ions.
However, heterogeneous membranes, produced from ion exchange resins mixed with a binding polymer solution, are most consumed type of ion exchange membranes due to lower cost and availability in a variety of grain to biding polymer ratios. The ratio of grain to binding polymer determines the electrical and mechanical properties of the membrane. The segment of heterogeneous membranes is expected to rise at a rapid rate during the forecast period.
Asia Pacific Market to Remain Leading Regional Contributor
Geographically, the market in Asia Pacific accounted for more than 35% share of the overall market in 2015. Increasing demand for ion exchange membranes in applications such as electrolysis, chromatographic separation, electrodialysis, desalination, treatment of waste water, and the treatment of radioactive liquid waste has been the prominent factor driving the market in the region. North America and Europe cumulatively held more than 40% share of the total consumption of ion exchange membranes in 2015. The market in these regions is anticipated to exhibit stable growth during the forecast period.
Consumption of ion exchange membranes was high in China in Asia Pacific in 2015. The country was also the world’s leading producer of these membrane in the said year. Factors such as rising population and increasing awareness for waste water treatment were the major factors driving the market in the region. India and ASEAN are anticipated to provide substantial growth opportunities for the ion exchange membrane market in the next few years. Europe followed North America and Asia Pacific in terms of consumption of ion exchange membrane in 2015. The region, holding a nearly 20% of the total ion exchange membrane market in 2015, is anticipated to expand at a CAGR of 2.4% during the forecast period. The market in Latin America is projected to be a beneficial market for ion exchange membrane by 2024, as it is a growing region. Expansion of electronics and food and beverages industries in the region is also projected to propel the demand for ion exchange membranes during the forecast period.
Some of the leading companies operating in the global ion exchange membrane market are The Dow Chemical Company, Ion Exchange Ltd., 3M, ResinTech Inc., Lanxess, and General Electric Company.