Ion Exchange Membrane Market Expected to Flourished by Growing Demand for Desalination

Author : Purvaja Jadhao | Published On : 16 Jan 2024

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 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, 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/