Chelating Resins Market
Chelating Resins Market By Functional Group (Iminoacetic, Aminophosphonic, Glucamine, Oxime, Phosphonic + Sulphonic, Phosphorous & Thiol Group), By Matrix Type (Polystyrene, Polystyrene & Polyacrylic Divinylbenzene), By Application, By End-use Industry - Forecast 2021 to 2031
Chelating Resins Market Outlook
Chelating resin is part of ion exchange resins and used selectively for processes requiring very minute separation of metals. The resin structure for both, chelating and ion exchange resins is somewhat similar but in contrast to ion exchange resins, Chelating resins catch a metal ion with a functional group that can form a chelate (complex) with the metal ion.
This technology has been quite useful to effectively extract metal impurities such as mercury from wastewater, alkaline earth metal from brine solutions, and many more.
In comparison with conventional ion exchange resins, chelating resins possess higher selectivity towards specific metal ions. Thus, improved separation is possible with chelating resins if used in system.
Being highly effective in various industrial separation process, demand for chelating resins is anticipated to be high over the coming years. However, separation by chelating resins is a slightly expensive process, and requires huge capital investments.
The global chelating resins market is profiled as a high-cost market, as volume consumption of this product is directly correlated to the amount of capital the end-use industry bears. Despite all these factors, chelating resins have found consistent demand from Chlor-alkali, electroplating, and mining industries.
In a recently published report of Fact.MR, insights regarding key factors fueling market growth have been offered for the next ten years. The report tracks trends in 20+ high-growth countries, with the regions of East Asia, North America, and Europe leading the way. The impact of the COVID-19 pandemic has also been detailed in the report, with exhaustive insights into what the years ahead will offer.
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Historical Trends Vs Future Projections
Over the past half-decade, demand for chelating resins has heightened due to their extensive use in a multitude of applications, ranging from metal extraction to brine purification.
Apart from the micro-economic factors supporting market growth, a bundle of macroeconomic factors such as shift in regional policies encouraging manufacturers with respect to the utilization of economic products such as chelating resins has bolstered market expansion over the same period.
Over the period of Q2 and Q3 of FY2020, demand for chelating resins collapsed under the pressure of trade barriers across the globe amidst COVID-19-related lockdowns. Moreover, the market observed the lowest price points over the same period. Shutdown of production facilities across regions also cascaded the effect to the overall market dynamics of chelating resins.
For instance, in India, Thermax’s production plant was shut for around half a quarter. Similarly, in China, numerous production sites were forced to close or operate for a very limited time. Over these two quarters, trade blockages and demand contraction pushed the manufacturers into turmoil.
At the end of FY2020, governments decided to ease lockdowns in phases and production houses started production flow with proper safety and security measures. Forecast has been done for the coming ten financial years (2020-2030), which has been segregated into three time periods - short term, medium term, and long term.
Short term: Chelating resin demand faced huge downfall in 2020, which needs to be recovered over this period. The industry will be in a recovery phase, and as a result, will experience a slow growth rate of around 3% CAGR in the short term.
Medium term: As soon as the market recovers in the short term, it will try to balance and cope up with other industries, which will lead to a 5% CAGR in the mid-term.
Long term: considering the above points, demand for chelating resins will surge in the long term, where the Latin America and South Asia & Oceania regions will be on top with maximum market share and highest CAGRs.
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Which region is the Largest Consumer of Chelating resins?
While analyzing the market from the demand side, East accounts for the largest consumption of chelating resins.
Followed by East Asia, Europe is second-largest consumer of chelating resins, where Germany is the prime country regarding production and well as consumption, followed by BENELUX with a prominent market share and key players positioned in the region is Lanxess.
What Makes China Lead the Chelating Resins Landscape?
From a regional perspective, demand and supply relationship is highly in favor of East Asia. China has around 10-12 major producers and suppliers of chelating resins.
Chinese companies are focusing on research & development to become technologically advances and develop the best and most cost-effective products in the market, and are enjoying many home-player advantages in the competitive environment. China possesses fabulous production capacity and a high density of suppliers and manufactures.
China itself accounts for nearly 60% of chelating resin supply, of which, it only utilizes up to 20% of its production, and rest is exported all across the globe.
In order to become an industry leader, China is now looking to invest in research & development, sustainable solutions, and increased capacity in line with the country’s socioeconomic development goals.
What is the Situation of Other Regions in Chelating Resins?
North America has been forecast to witness a deficit of chelating resins, and partially relies on imports through Asian countries. With prices of resins significantly high in the region, most manufacturers have tied up with regional distributors for the sales of resins in the region.
Furthermore, Latin America & MEA are completely import-oriented markets in the chelating business, even though there is a significant demand for these resins.
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What are the Key Applications of Chelating Resins?
Transformation of chlor alkali plants from mercury cell to membrane cell technology is currently trending, as it severely saves energy and capital. Use of membrane technology in chlor-alkali electrolysis has introduced requirements for strict purity control of the brine.
Additionally, ion exchange technologies have a stringent limit to restrict alkaline release to a certain concentration, which ensures effective operations. This is why chelating resins are utilized in controlling these impurities. Chelating resins have proven to be efficient in removing hardness from brine stream without being exhausted by sodium. Thus, super purification of brine offered by chelating resins is set to boost market growth throughout the forecast period.
Chelating resins have significant application in the treatment of waste water and effluents, which is one of the fastest-growing applications. Other niche applications such as biochemistry would see sluggish growth over the long-run forecast period.
Multitude of factors discussing prominent applications supplementing market growth are discussed in the recently released Fact.MR analysis report.
Which Functional Group Dominates the Demand Pie of Chelating Resins?
Fact.MR has deep-dived into different markets and industries to analyze the proper functions of chelating resins. The picolylamine group is one of the functional groups which has grabbed maximum market share, globally, with consistent market growth followed, by the iminoacetic group, which is expected to expand at 6.5% CAGR over the forecast period.
On the other hand, the phosphoric + euphonic group has the least market share, followed by the phosphorous group, which is anticipated to experience the lowest growth rate over the next ten years.
Historical Data Available for
US$ Mn for Value & Tons for Volume
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Key Segments Covered in Study
- Iminoacetic Group
- Glucamine Group
- Oxime Group
- Phosphonic + Sulphonic Group
- Phosphorous Group
- Thiol Group
- Thiourea Group
- Picolylamine Group
- quaternary Amines
- Polystyrene Divinylbenzene
- Polyacrylic Divinylbenzene
- Separation & Purification
- Treatment of Wastewater and Effluent
- Removal of Impurities
- End-use Industry
- Chlor Alkali
Metal & Mining
- Rare Earth Metal
Waste Water Treatment
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Analysis has been done by Fact.MR to understand the key barricades in the market that hamper global and regional sales and demand. Cyclic functioning of ion exchange plants is expected to hamper growth of chelating resins.
Chelating resins used in the chemical industry, which holds almost half market share, in which, chlor alkali is the largest consumer of chelating resins. The metal & mining industry is the second-largest consumer of chelating resins for purificatio
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