(MENAFN- GlobeNewsWire - Nasdaq) Wilmington, Delaware, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Global Nafion Market is valued at US$ 623.8 million in 2022 and is expected to grow at a significant CAGR of over 4.8% over the forecast period of 2023-2030, according to the latest market report by RationalStat Market Definition, Market Scope, and Report Overview
Nafion is widely utilized as the electrolyte membrane in proton exchange membrane fuel cells (PEMFCs). PEMFCs are becoming more popular as a clean and efficient energy source in a variety of industries, including automotive, stationary power generation, and portable electronics. The growing popularity of fuel cell technology is driving up demand for nafion membranes.
Furthermore, with the global emphasis on lowering carbon emissions and shifting to renewable energy sources, demand for fuel cells and electrolyzers is rising. In these applications, nafion membranes are critical because they allow for the effective conversion of hydrogen and oxygen into electricity and vice versa. The increase of the renewable energy sector, especially hydrogen fuel cells, adds to the growth of the nafion market.
According to a deep-dive market assessment by RationalStat, the global nafion market has been analyzed on the basis of market segments, including on type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific) . The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030. Market intelligence for the global nafion market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by variproducts/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc. In addition, the long-term sector and products/services 10-year outlook and its implications on the global nafion market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Nafion Market: Segmental and Market Share Analysis
On the basis of type, due to the high proton conductivity, distinctive mechanical qualities, and good chemical stability of these membranes, the membrane segment is expected to capture the major market share during the forecast period. On the basis of application, the energy sector is expected to have the highest proportion of the global nafion market. This is owing to rising demand for renewable energy production and increased investment in proton exchange membrane fuel cell research.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 623.8 million |
| Market Size Forecast | US$ 905.6 million |
| Growth Rate | 4.8% |
| Key Market Drivers | Increasing Investments in Renewable Energy Projects Global Shift Towards Clean and Sustainable Energy |
| Companies Profiled | Automatic Materials BASF Carbosynth Limited DuPont Evonik FUJIFILM Haihang Industry Spintech Holdings SMP Technologies Solvay |
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Competition Analysis and Market Structure
These players adopt varistrategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global nafion market include,
In June 2020, The German government intended to boost hydrogen production in order to reduce the country's greenhouse gas emissions. Because three-fourths of the world's hydrogen is now produced using fossil fuels, the German government intends to encourage its production using renewable energy sources.
Some of the prominent players and suppliers operating and contributing significantly to the global nafion market growth include Automatic Materials, BASF SE, Carbosynth Limited, DuPont, Evonik, FUJIFILM, Haihang Industry, Spintech Holdings, SMP Technologies, and Solvay, among others.
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RationalStat has segmented the global nafion market based on type, application and region
Global Nafion Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Type Dispersion Resin Membrane
Global Nafion Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Application Energy Chemical Processing Drying & Humidification Coatings Others
Global Nafion Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Region North America Nafion Market Latin America Nafion Market Brazil Mex Rest of Latin America
Western Europe Nafion Market Germany UK France Spain Italy Benelux Nordic Rest of Western Europe
Eastern Europe Nafion Market Russia Poland Hungary Other CIS Countries Rest of Eastern Europe
Asia Pacific Nafion Market China Japan India South Korea Australia ASEAN Indonesia Thailand Philippines Vietnam Malaysia Rest of ASEAN
Rest of Asia Pacific
Middle East & Africa Nafion Market GCC Saudi Arabia (KSA) United Arab Emirates (UAE) Rest of the GCC
South Africa Nigeria Turkey Rest of the Middle East & Africa
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Key Questions Answered in the Nafion Report:
What will be the market value of the global nafion market by 2030? What is the market size of the global nafion market? What are the market drivers of the global nafion market? What are the key trends in the global nafion market? Which is the leading region in the global nafion market? What are the major companies operating in the global nafion market? What are the market shares by key segments in the global nafion market?
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RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
Defining the problem by understanding the type of market and data required by the client. Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews. Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance. Evaluating and analyzing the data by referring to data sources utilized and leveraged. Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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