The ion exchange resins market is valued at ;USD 1.26 Billion ;in 2017 and is projected to reach ;USD 1.56 Billion ;by 2022, at a CAGR of 4.4% from 2017 to 2022.
Ion exchange resins are used in a wide range of end-use industries such as power, chemical & petrochemical, food & beverages, pharmaceutical, electrical & electronics, water & wastewater treatment, and metal & mining, among others. Ion exchange resins are majorly used in nuclear power generation for controlling reactor reaction and steam generation. Ion exchange resins are widely used in the water treatment industry to remove the hardness of water and for demineralization of water. In these end-use industries, ion exchange resins are used to replace the magnesium and calcium ions with sodium ions from hard water and to remove poisonous and heavy metal ions. The growing number of infrastructure development projects is increasing the demand for electricity in various emerging economies such as ;India, ;China, and ;Thailand, which has led to the overall growth of the power industry.