Ion Exchange Membrane Market Expected to Flourished by Growing Demand for Desalination
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Ion Exchange Membrane Market |
Ion
exchange membrane, also known as ion-selective membrane, is a semipermeable
membrane that allows the passage of ions based on their charge. It finds
applications in water treatment processes such as reverse osmosis,
electrodialysis, and electrodeionization. The most common application is using
ion-selective membranes in electrodialysis cells to remove salts and other ions
from brine solutions to produce fresh water. The process uses the principle of
electrodialysis to extract salts from tap and brackish water, thus rendering it
potable. With growing freshwater scarcity and rising demand for clean drinking
water, the desalination market has expanded significantly over the years.
The global ion exchaange membrane market is estimated to be valued at US$ 908.33
Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Dynamics:
The growing demand for desalination across industries such as water and
wastewater, food and beverage, chemical processing and power generation is
expected to fuel the growth of the ion exchange membrane market over the
forecast period. As highlighted in the heading, desalination accounts for a
dominant share of ion exchange membrane consumption. With depleting freshwater
reserves globally due to factors such as rapid urbanization and
industrialization, an increasing number of countries are looking at
desalination as a viable option to overcome water scarcity issues. According to
an estimate, over 300 million people globally rely on desalinated water.
Increasing investments in desalination projects, especially in Middle Eastern
and Asia Pacific countries will boost demand for ion exchange membranes used in
reverse osmosis desalination technology.
Another major driver for the market growth is the increasing use of ion
exchange membrane technology in various end-use industries such as chemical
processing, power generation, food and beverage and pharmaceutical for
separation of monovalent and multivalent ions from various process streams and
waste streams. Ion exchange membranes offer several advantages over
conventional separation technologies such as electrodialysis in terms of better
selectivity, energy efficiency and ease of operation. Thus, they are gaining
popularity among end-use industries.
Segment Analysis
The global Ion Exchange Membrane market is dominated by the homogeneous
membrane sub-segment owing to its wide industrial applications across
wastewater treatment, power generation, chemical processing industries. The
homogeneous membrane offers uniform pore distribution and conducts ions
uniformly throughout the membrane making it suitable for various industrial
separation processes.
PEST Analysis
Political: Stringent regulations regarding wastewater disposal and water
treatment technologies across various countries are expected to drive the
adoption of ion exchange membranes in the market.
Economic: Rising industrialization in emerging economies of Asia Pacific is
anticipated to propel the growth of end-use industries such as power
generation, chemical processing thereby positively impacting the ion exchange
membrane market.
Social: Growing awareness about water conservation and wastewater recycling is
augmenting the demand for advanced water treatment technologies including ion
exchange membranes.
Technological: Continuous technological advancements in material science and
membrane fabrication techniques are helping manufacturers develop improved ion
exchange membranes with high ion selectivity and durability.
Key Takeaways
The Global
Ion Exchange Membrane Market Demand is expected to witness high growth
over the forecast period of 2023 to 2030. 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 13% over the forecast period 2023 to 2030.
Regional
analysis comprises North America dominated the market in 2024 owing to strict
water regulations in the US and Canada. The Asia Pacific region is anticipated
to showcase fastest growth over the forecast period given the rapid
industrialization in China, India along with growing investments in water
infrastructure in the region.
Key players operating in the Ion Exchange Membrane market are DowDuPont Inc.,
Lanxess, 3M, GE Power & Water, Ion Exchange, ResinTech Inc., Asahi Kasei,
Auroco. Loewen Filtration Group, Toray Industries, Koch Membrane Systems
For more details on the report, Read- https://www.pressreleasebulletin.com/ion-exchange-membrane-market-demand-share-analysis/
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