Albany, NY -- (SBWIRE) -- 05/23/2019 -- The global ion exchange membrane market is highly fragmented and competitive with numerous players trying to expand their revenue share globally, reports Transparency Market Research (TMR). Prominent players in the market comprise The Dow Chemical Company, LANXESS, 3M, SUEZ, Toray Industries Inc., Merck KGaA, and Pure Water Scandinavia AB. These companies have adopted the key strategy of mergers and acquisitions to expand their share in the global ion exchange membrane market. For instance, SUEZ acquired GE Water & Process Technologies in 2017 and also created 'Water Technologies & Solutions' business to prow its revenue share.
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The ion exchange membrane market has encountered remarkable technological innovations on account of the growing demand. Many prominent market players are emphasizing on diversifying their product by increasing their applications. Additionally, optimisation of the manufacturing methods has resulted in development of ion exchange membranes with better chemical stability. Moreover, several companies are working on developing cost-effective and environment friendly ion exchange membranes to expand their share in the global ion exchange market. For instance, Ionomr Innovations have developed a new ion exchange membrane called Aemion that addresses the environmental concerns along with the limitations of sustainability and cost.
The global ion exchange membrane market is anticipated to grow at a CAGR of 3.5% from 2017 to 2026. In terms of applications, the wastewater treatment sector is expected to dominate the market on account of increased usage of ion exchange membranes in water treatments and purification. On the basis of charge, the anion exchange membrane segment holds a prominent share of 37.1% in the ion exchange membrane market on account of its increasing industry applications and demand. Regionally, Asia Pacific accounts for 40% of share of the global ion exchange market owing to tremendous progress in the industrial sector.
Rising Awareness about Wastewater Treatment to Usher the Market's Growth
An increasing awareness about wastewater treatment across the globe has played a significant role in propelling the growth of global ion exchange membrane market. Numerous companies are engaged in manufacture of ion exchange resins for wastewater treatment, thereby propelling the market's growth. In addition to this, the stringent environmental control policies laid down by the government has played a major role in driving the growth of global ion exchange membrane market.
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Rising health concerns have led to a surge in demand for clean drinking water. This has favourably impacted the global ion exchange market, thus expediting the market's growth. Further, increasing applications of ion exchange membranes in the electrodialysis process has stimulated the growth ion exchange membrane market. Additionally, propelling pharmaceutical and healthcare industries have contributed to the growth of ion exchange membrane market.
Propelling Demand for Heterogeneous Membranes to Create New Opportunities
Heterogeneous ion exchange membranes are characterized by permselectivity, chemical stability, and conductivity. Moreover, they offer excellent cost efficiency. As a result, increasing adoption of heterogeneous ion exchange membranes presents significant growth opportunities for the global ion exchange market. Expansion of food and beverages industry across the globe has created several growth opportunities for the market. Latin America is expected to grow exponentially during the forecast period owing to the prevalence of emerging food and beverages industry. Additionally, technological advancements and rising population have created great prospects for the growth of global ion exchange membrane market.
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The study presented here is based on a report by Transparency Market Research (TMR) titled "on Exchange Membrane Market (Charge - Cation Exchange Membrane, Anion Exchange Membrane, Amphoteric Ion Exchange Membrane, Bipolar Ion Exchange Membrane, Mosaic Ion Exchange Membrane; Material - Hydrocarbon Membrane, Perfluorocarbon Membrane, Inorganic Membrane, Composite Membrane, Partially Halogenated Membrane; Structure - Homogenous Membrane, Heterogenous Membrane; Application: Electrodialysis, Electrolysis, Chromatographic Separation, Desalination, Wastewater Treatment, Radioactive Liquid Waste Treatment) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2026."