IDTechEx forecasts that the ion exchange membrane market will see significant growth, exceeding US$2.9B annually by 2035. This growth is attributed to the increasing demand in decarbonized energy and transport sectors. The market is being fueled by applications such as water electrolyzers for green hydrogen production, hydrogen fuel cells, and redox flow batteries. The report provides a detailed analysis of current and emerging ion exchange membrane materials, covering areas like chemical production, water treatment, green hydrogen economy, carbon capture, and sustainable metals processing. Perfluoroalkyl sulfonate (PFSA) cation exchange membranes currently dominate the market due to their chemical and mechanical stability, but there is a rising interest in alternative hydrocarbon ion exchange membranes. Start-ups are developing novel membrane materials for various applications. Sustainability megatrends are leading to growth in established markets like chemicals and water treatment, emphasizing the need for energy efficiency improvements and exploring new applications like lithium hydroxide production. Transport applications are expected to drive growth for proton exchange membrane fuel cells, with predictions of significant market growth in the 2030s. Water electrolyzers using ion exchange membranes are important for green hydrogen production, with proton exchange membranes being widely used. Redox flow batteries and carbon capture technologies are also mentioned as areas where ion exchange membranes play a vital role in decarbonization efforts.