Chelating Resins Market Introduction
- Ion-exchange resins, often known as chelating resins, nearly always use chelating compounds that are covalently linked to a polymer matrix to bind cations. Chelating resins use the same polymer matrix. Pre-concentration of metal ions in a dilute solution is their primary application. Chelating ion-exchange resins are used in the chlor-alkali industry for brine decalcification, boron removal from potable water, and recovery of valuable metals from solutions.
- Chelating resins are used in chemical analysis to separate and concentrate trace metals. Chelating resins are used to collect trace metals from seawater. Copper-loaded chelating resins also adsorb, by coordination, traces of amino acids from seawater.
- In comparison with conventional ion exchange resins, chelating resins possess higher selectivity toward specific metal ions. Thus, improved separation is possible with chelating resins.
- Demand for chelating resins has been rising since a few decades due to their extensive usage in various applications, ranging from metal extraction to brine purification
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Key Drivers of Chelating Resins Market
- Increase in concern regarding water purity and safety and strict norms and regulations are key factors driving the chelating resins market. The predominant issue of climate change and the scarcity of water resources have accelerated the search for better concepts for water treatment.
- Rise in usage of chelating resins in chlor-alkali applications is expected to boost the market during the forecast period. Volume consumption of chelating resins is closely tied to the amount of capital the end-use industry bears; therefore, the global chelating resins market is classified as a high-cost market. Despite these challenges, chlor-alkali, electroplating, and mining sectors continue to use chelating resins. Growth of the mining sector can be a major driver of the chelating resins market.
Restraints of Chelating Resins Market
- Fluctuation in prices of raw materials is the key restraining factor of the chelating resins market. High cost of chelating resins over their conventional counterparts is also adversely affecting the market. Instability in raw material prices is likely to restrict the chelating resins market. Development of substitutes is also estimated to hamper the market during the forecast period.
COVID-19 impact on Chelating Resins Market
- The COVID-19 outbreak is hampering the demand for chelating resins in many applications. Governments of various countries across the globe enforced lockdown as a measure to curb the spread of the disease. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown, thus hampering the demand for chelating resins.
- Key players operating in the chelating resins market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these companies are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively affected the demand and supply chain of these materials.
- The COVID-19 outbreak has directly affected the production and demand for chelating resins. The industrial shutdown caused by the COVID-19 pandemic has created disruption in the supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market.
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Asia Pacific to Constitute Significant Share of Global Chelating Resins Market
- In terms of region, the global chelating resins market can be split into North America, Europe, Asia pacific, Latin America, and Middle East & Africa
- Asia Pacific is anticipated to dominate the global chelating resins market during the forecast period. China produces more than 60% of the world's chelating resins, but only uses around 20% of these. The remainder being shipped all over the world. Concerns regarding water purity norms is also anticipated to boost the demand for chelating resins in mining and metallurgy applications.
- Europe is the second-largest consumer of chelating resins, with Germany leading in terms of production and consumption
Competitive Landscape of Global Chelating Resins Market
Major players operating in the global chelating resins market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players. Key players operating in the market include:
- Mitsubishi Chemical Corporation
- Purolite Corporation
- Thermax Global
- Zhejiang Zhengguang Industrial Co. Ltd
- Suqing Group
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