by Ion exchange membranes are specialized membranes used in various separation and purification processes like water desalination, wastewater treatment, electrodialysis and others. Some key advantages of ion exchange membranes include high selectivity, better resistance to fouling and scaling, ease of operation and effectiveness in removing charged ions from the process fluid. Growing need for clean water sources along with wastewater recycling is driving the demand for desalination and wastewater treatment plants globally, thus propelling the ion exchange membrane market size.
The global Ion Exchange Membrane Market is estimated to be valued at US$ 908.33 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing demand for desalination is a key driver boosting the ion exchange membrane market size. According to the UN, over 80 percent of wastewater globally is discharged into rivers or seas without proper treatment. Also, access to clean water is becoming more challenging with depleting freshwater resources. This is increasing investments in wastewater recycling and desalination plants worldwide. Ion exchange membranes play a critical role in desalination by separating salt ions from brackish or sea water. Furthermore, recovery of valuable resources from industrial and municipal wastewater is helping reduce freshwater usage. The favorable regulatory environment supporting wastewater recycling and desalination will continue spurring demand for ion exchange membranes during the forecast period.
SWOT Analysis
Strength: Ion exchange membrane has features like low resistance to ion transport that makes them suitable for separation of ions and water treatment applications. It exhibits high ion selectivity and conductivity.
Weakness: Ion exchange membranes have low mechanical strength and are susceptible to fouling. Manufacturing ion exchange membranes require specialized equipment and skills that increases the production cost.
Opportunity: Increasing incidences of water pollution and growing industrial wastewater have bolstered the demand for ion exchange membranes for water and wastewater treatment applications. Rising freshwater scarcity issues will further augment the market growth.
Threats: Volatility in raw material prices especially for polymers and development of alternative separation technologies can hamper the market growth. Stringent environmental regulations pertaining to polymer production may increase the compliance cost.
Key Takeaways
The Global Ion Exchange Membrane Market Size is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis comprises
North America dominates the global market and is expected to maintain its dominance during the forecast period. Rise in wastewater treatment plants and stringent regulations pertaining to industrial wastewater discharge in the US and Canada are driving the regional market growth.
Key players operating in the ion exchange membrane market are AGC ENGINEERING Co. Ltd, Dioxide Materials, Fujifilm Corporation, Ion Exchange, Ionomr Innovations Inc., Liaoning Yichen Membrane Technology Co. Ltd, Membranes International Inc., Merck KGaA, ResinTech, Saltworks Technologies Inc., SnowPure, LLC, SUEZ, The Chemours Company, and 3M. Major players are focused on developing advanced ion exchange membranes through extensive R&D initiatives to expand their market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
