Nafion Dispersion was developed largely to meet the growing demand for ion exchange membranes for fuel cell applications. The global Nafion Dispersion market is expected to grow at a healthy pace, with a CAGR of 6% expected over the projected period (2020-2030). Dupont invented the first perfluorosulfonic acid (PFSA) polymer, Nafion Dispersion, in the 1970s.
Nafion Dispersion membranes have been the material of choice in flow batteries for hydrogen production due to their superior mechanical qualities and high ionic conductivity. These technologies allow businesses to store energy and optimise renewable energy generation without jeopardising the utility grid’s reliability. The growing need for large-scale electrical energy storage systems, as well as the expanding use of Nafion Dispersion membranes in long-life flow batteries, would provide lucrative prospects for Nafion Dispersion market players.
Nafion Dispersion Market: Key Takeaways
- Despite the emergence of other membranes, Nafion Dispersion remains the preferred material for fuel cell makers due to its chemical stability, thermostability, durability, and mechanical strength.
- During the projection period, momentum toward renewable energy production is expected to fuel the cell market, and therefore the demand for Nafion Dispersion.
- End customers continue to prefer Nafion Dispersion membranes because of their shape, accounting for more than half of global use.
- Ion exchange membranes made of Nafion Dispersion have remained popular for energy and chlor alkali applications, with a market value of US$ 884 million expected by 2030.
- The chlor alkali sector is expected to grow at a CAGR of 6% through 2030, generating an absolute $ opportunity of US$ 132 million.
- East Asia has led the global Nafion Dispersion market in terms of volume and value, and is expected to account for more than half of global consumption by 2030.
- Import-export restrictions imposed by the COVID-19 epidemic have harmed Nafion Dispersion production in East Asia, which accounts for a large portion of the market, stifling the Nafion Dispersion market’s expansion.
According to a Fact.MR researcher, “increasing demand for proton exchange membrane fuel cells from the automotive industry is expected to increase the growth of the Nafion Dispersion market over the forecast period.”
Competition Analysis of Global Nafion Dispersion Market
The global Nafion Dispersion market is oligopolistic, with only four manufacturers accounting for the majority of Nafion Dispersion production. The Chemours Company, Solvay SA, AGC Inc, and Dongyue Group Ltd. are the major players in the Nafion Dispersion market at the moment.
Targeted product introductions and strategic collaborations have been recognised as major strategies by Nafion Dispersion market players in response to increased demand and to match with the trend of high performance ion exchange membranes.
For example, The Chemours Company launched a new product called Nafion Dispersion NC700 membrane in 2019 to fulfil the growing need for ion exchange membranes with better chemical stability, thermostability, durability, and mechanical strength.
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