The global ion exchange resins market size is projected to grow from USD 1.8 billion in 2020 to USD 2.2 billion by 2025, at a CAGR of 4.2%, between 2020 and 2025.
Urbanization in APAC, increasing demand for nuclear electricity generation in emerging economies, and stringent environmental regulations are the major growth drivers of the global ion exchange resins market. Pharmaceutical, food & beverage, and electrical & electronics industries are projected to register the highest growth in the next five years, thereby boosting the market growth. Increasing population, growing urbanization, and evolving manufacturing sector need for water conservation, and stringent regulations are the major factors that are projected to drive the ion exchange resins market during the forecast period. Furthermore, volatility in raw material prices and increasing competition from the reverse osmosis process are the factors restraining market growth.
The other types segment is expected to register the highest CAGR of the overall ion exchange resins market during the forecast period.