Ion Exchange Membrane Market Size, Share, Growth, Trends, and Global Industry Analysis: By Material (Hydrocarbon Membrane, Perfluorocarbon Membrane, Inorganic Membrane, Composite Membrane, Partially Halogenated Membrane), By Structure (Heterogenous Membrane, Homogenous Membrane), By Charge (Cation, Anion, Amphoteric Ion, Bipolar Ion, Mosaic Ion), By Application (Electrodialysis, Electrolysis, Storage Batteries, Water Treatment, Other Applications), and Region

Ion Exchange Membrane Market was valued at US$ 1,442.6 million in 2023 and is expected to grow at a 6.8% CAGR from 2024 to 2030. Ion exchange membranes are semipermeable membranes in which an ionic functionality is fixed to the backbone of the membrane. These ionic species enable the concentration, separation, or exclusion of ionic species from a fluid flow. Ion exchange membranes are used in a variety of applications, including purification and separation.

The membrane technology offers various benefits, such as high energy efficiency, low maintenance cost, and is eco-friendly. In the past few years, there has been an increase in the concerns of clean water for drinking and sanitation across the world, which may boost the demand for ion exchange membranes, as they are used in removing impurities from contaminated water. In India, the Safe Drinking Water Act (SDWA) requires EPA (the United States Environmental Protection Agency) to establish regulations, to protect human health from contaminants in drinking water. The act authorizes EPA to develop national drinking water standards and ensure compliance with these standards. Hence, owing to the aforementioned reasons, water treatment is likely to dominate the market during the forecast period.

However, rising health concerns, due to non-ionized organic contamination, are expected to restrain the market growth. Ion-exchange membranes offer several advantages over other technologies used in water treatment such as filtration and reverse osmosis. This is increasing their adoption, thereby driving market growth. Moreover, the development of new and more efficient ion-exchange membrane technologies is aiding market growth by making these products more affordable and accessible to a wider audience.

Additionally, technological advancements are also helping to improve the performance characteristics of these membranes, thus boosting their uptake across various application segments. At present, the increasing demand for IEMs to produce green hydrogen represents one of the major factors influencing the market positively. In addition, governing agencies of various countries are encouraging the adoption of clean and portable water, which is strengthening the growth of the market. Apart from this, the growing utilization of IEMs in the healthcare sector to treat renal failure and remove toxins and body waste among individuals is offering a positive market outlook. Additionally, the rising demand for IEMs in the chemical industry for manufacturing caustic soda, caustic potash, and chlorine and hydrogen-basic chemical products is contributing to the growth of the market.

Ion Exchange Membrane Market Key Developments:

• In April 2023, the Chemours company, a global chemistry company along with TC Energy, who is a leader in responsible development and reliable operation in North America executed a MoU for the potential development of two electrolysis-based hydrogen production facilities at or near Chemours Washington Works and Belle Manufacturing sites in West Virginia
• In December 2022, a Delhi-based renewable project consultant invested $50 million in a Gujarat facility to manufacture anion exchange membrane (AEM) electrolyzers for green hydrogen generation. The project has received $1 million from Real Time Accelerator Fund as an angel investor in Greenzo