Ion exchange membranes play a key role in various industrial processes like water treatment, chemical production, power generation, and food processing. They help separate ions of similar charge via electrodialysis and offer advantages such as long lifespan, durability, and effective separation. The global ion exchange membrane market is estimated to be valued at US$ 908.33 Mn in 2024 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 key trends:
Growth Accelerated by Expanding Water & Wastewater Treatment Industry
One of the key trends driving the growth of the ion exchange membrane market is the expanding water & wastewater treatment industry. Clean water is essential for various industrial processes and human consumption. However, surface and groundwater sources are increasingly getting polluted due to growing industrialization and urbanization. This has boosted investments in industrial and municipal water treatment facilities that employ advanced treatments methods like ion exchange, reverse osmosis, and membrane technologies. Ion exchange membranes play a vital role in applications like electro-deionization, which remove trace level dissolved ions from water. The rising global focus on clean water availability is expected to continue propelling the demand for ion exchange membranes over the forecast period.
The ion exchange membrane market is segmented based on material as heterogeneous and homogeneous membranes. The homogeneous membranes segment dominated the market in 2023 and is expected to witness higher growth during the forecast period. Homogeneous membranes have uniform properties throughout and provide higher selectivity and mechanical strength compared to heterogeneous membranes.
The Global Ion Exchange Membrane Market Demand is estimated to be valued at US$ 908.33 Mn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
The Asia Pacific region dominated the global ion exchange membrane market in 2023 with a share of over 40%, followed by North America and Europe. APAC is expected to witness highest growth during forecast period due to rapid industrialization and growth of industries such as chemical processing, power generation, pharmaceutical in countries such as China, India. Growth in end use industries and stringent regulations regarding waste water treatment will drive the market.
Key players operating in the ion exchange membrane market are DowDuPont Inc., Danaher Corporation, Lanxess AG, Hydranautics, Asahi Kasei Corporation, Lg Water Solutions, Koch Membrane Systems, Toray Industries, Inc., Merck Group and OriginWater. Asahi Kasei Corporation commands major share of the market owing to wide product portfolio and global presence. Lanxess AG focuses on expanding production capacities to cater to growing demand. Lg Water Solutions emphasizes on R&D to develop innovative membranes for niche applications.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it