The Middle East and Africa Ion Exchange Resins Market is expected to grow at a CAGR of 2.94% during the forecast period 2024 to 2029. The market value was at USD 0.08 billion in 2023, and the value is expected to reach USD 0.09 billion by the end of 2029.
The Middle East and African regions have been lagging in the ion exchange industry but recently have activated their interests towards investments in this sector. The regional market is foreseen to expand with a notable compound annual growth rate in the foreseen years. Saudi Arabia is one of the countries that has shown an increase in demand for ion exchange resin products owing to its goal of providing clean water to its citizens. Similarly, other nations in this area are implementing prominent measures to supply clean drinking water to their citizens.
Ion exchange resins are fabricated from the organic polymer substrate. The separation, contamination, and decontamination process are the three major applications of ion exchange resins. In the pharmaceutical industry, isolating and purifying the pharmaceutically active ingredients is processed with the help of ion exchange resins. Other than this, it has a major role as excipients in drug formulations like tablets, capsules, gums, and suspension. As an excipient in formulations, it has various functions in improving the stability of the active ingredients, such as taste-making, extended-release, tablet disintegration, increased bioavailability, and others. Strong research and development activities are likely to pose huge growth opportunities for the global market.
The demand for the ion exchange resins in the energy sector is surging at constant level from few years that is anticipated to level up the growth rate of the Middle East and Africa ion exchange resins market. Latest study shows that the ion exchange resin has key role in power generation sector where the need to adopt these changes in the nuclear plants to supply electricity to the industries and households is randomly increasing year to year.
Increasing need for the adoption of the latest process in purification of water in the waste water treatment plants is adding fuel to the growth rate of ion exchanges resin market in this region. Rising risk of water pollution due to increasing industrial waste is increasing the demand for the purification of the water in appropriate form with the latest technologies.
Increasing support from the government organizations through investments is greatly influencing the market’s growth rate. Rising economy and the growing population demands for the improvement of various applications in the end user industries with the modern technologies. The rapid adoption of the latest technologies in industries to increase the array of applications are inclined to show positive growth rate for the market.
The supply chain disruptions are drastically hindering the growth rate of the Middle East and Africa Ion exchange resin market. The disruptions in the supply chain will rise the issues over the availability of the raw materials for the industries which further increases the price of the final products. Therefore, the soaring prices of the end products is likely to showcase negative impact on the growth rate of the market.
Technological advancements play a major role in the quick adoption of any applications in the end user industries like pharmaceuticals, wastewater treatment, chemicals, food and beverages and others. The rising popularity to use ion exchange resin in various applications is notedly to showcase positive opportunities for the market growth.
Lack of skilled people required in the industries to use ion exchange resin in most appropriate way is challenging factor for the market key players. Frequently changing technologies in the industries is also a factor that is anticipated to hamper the market share in the coming years.
The ion exchange industry is affected by volatile prices and alternatives. There can be numerous alternatives to the demineralization process and other industries do not solely depend on the Ion-exchange industry for their functioning. In the Middle East, countries are mostly dependent on petrochemical industries for their economy and ion exchange does not directly impact their GDP.
The ion exchange and resins industry in the Middle East and African regions was already a slow-growing industry as it heavily depended on imports to fulfill their needs. COVID-19 has had an impact on imports which were the main source of ion exchange products in the region. However, some investments have been made to improve the situation of the local ion exchange industry to reduce this dependency.
Cationic resins segment is thriving with the highest share of the market. Increasing industrial area in the Middle East and Africa is accounted in increasing the growth rate of the ion exchange resin market. The wide range of uses of cationic resins in different industrial areas like chemicals, pharmaceuticals, food and beverages and others is enhancing the market size.
Water segment is witnessed in ruling the largest share of the market whereas non-water segment is expected to hit the highest CAGR during the forecast period. The wide usage of innovative techniques in water applications is substantially leveraging the growth rate of the ion exchange resin market.
The pharmaceutical end-use segment is ruling with the accountable share of the market and is expected to continue the same growth rate throughout the forecast period. An increasing number of pharmaceutical industries with the surging prominence to release high-quality drugs with respect to government rules and regulations is ascribed to bolster the growth rate of this segment.
The major key players in the Middle East and Africa Ion Exchange Resins Market are Lanxess, Novasep Holding, DuPont de Nemours, Inc, Bio-Rad Laboratories, Inc., and others
Express Pharma has confirmed the introduction of a new chemical blending facility in Bahrain. The company set to expand its facility in Bahrain which will improve the products and services it offers the wider GCC region, a market currently worth around $1.5 trillion
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