Chelating resins have witnessed steady demand over the last two to three decades. Key focus of manufacturers has been on product optimization and lateral integration. By solving all customer-related technicalities, manufacturers are set to enhance client engagement and product performance.
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Elimination of toxic waste, recovery of heavy metals from electroplating, metal mining, and brine purification are processed that will collectively boost consumption of chelating resins over the coming years, claims Fact.MR, in its recently published report. As per the report, the market is forecast to cross a valuation of US$ 700 Mn by 2030, expanding at a healthy CAGR of around 5% over the forecast period of 2020 to 2030.
Key Takeaways from Market Study
- The chelating resins market is anticipated to add 1.6X value by 2030 as compared to 2020.
- Increasing demand for chelating resins for brine purification, followed by electroplating application, is expected to drive consumption of iminoacetic acid and aminophosphonic type chelating resins over the coming years, with both accounting for nearly 3/4 market share by 2030-end.
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- The chlor alkali space presents prolific growth opportunities for chelating resins, and will account for nearly half of the total value opportunity over the forecast period.
- Despite losing significant market share by 2030, polystyrene divinylbenzene will continue to be the dominant matrix used in chelating resin manufacturing, representing a total share of close to 2/3 by 2030-end.
- China accounts for a major chunk of the supply in chelating resins with nearly 60% of total production clustered in the country.
- The market in the U.S. and Germany is projected to expand at a steady CAGR of around 5% respectively, though 2030.
“With the effects of COVID-19 hitting hard, production of resins was affected. Manufacturers are now focusing on tracking end-user requirements to deliver optimum resins in the market”, says a Fact.MR analyst.
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Price Rise in Consideration to Supply Constraints and Raw Materials Cost
The global chelating resins market is consolidated in nature, with top players accounting for bulk of the market share. Stakeholders need to worry about their market presence, as several mid-scale players from China and India have taken over major clients by providing them products at affordable rates.
Pricing of chelating resins from Chinese manufacturers has been on the lower side, and there have been hardly any price increase announcements from these players. Chelating resins have witnessed a sharp rise in prices in the historical timeframe. Top players in market hold strong decision power in terms of global pricing.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/10/01/1923437/0/en/Fact-MR-s-Report-Highlights-Accelerating-Sales-of-Construction-Polymers-as-Infrastructure-Projects-Ramp-Up-in-Developing-Countries.html
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