Nafion Market Insights
The global nafion market is poised to embark on a positive growth trajectory, registering a CAGR of 6% over the forecast period (2020-2030). Nafion is the first ever perfluorosulfonic acid (PFSA) polymer manufactured by Dupont in the 1970s. Nafion was primarily made in response to the increasing demand for ion exchange membranes for fuel cell applications.
Universal chemical-resistivity and exceptional electrochemical stability have made nafion an ideal material in fuel cell applications. Moreover, attributed to nafion’s excellent resistance to impurities and exceptional power consumption, it is used in various electrochemical cells and electrolytic devices under diverse operating conditions. Efficacy to offer a cost-economical alternative to maximize production efficiency in the chlor alkali industry is set to expand the global nafion market size during the forecast period.
Nafion Market Application Insights
Growing demand for clean energy sources and concerns related to rising emission norms, coupled with momentum towards low or no emission vehicles have given birth to transformative innovations such as vehicle electrification and hydrogen fuel cell vehicles. Nafion material-based proton exchange membrane fuel cells are the most widely used fuel cell type in the world. In order to meet the increasing demand for cleaner energy production, significant investments and studies have been done on proton exchange membrane (PEM) fuel cells.
Inline initiatives by governments and fuel cell manufacturers are set to fuel the demand for nafion membranes during the forecast period. Further, over three-fourth of the chlor-alkali is produced by membrane technology, and a promising solution offered by nafion chlor alkali membranes is set to gain traction during the forecast period, creating remunerative opportunities for players to increase their nafion market share.
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Regional Outlook of Nafion Market
East Asia is the largest fluoropolymer consumer in the world, and currently accounts for near half of global consumption, which is near 138 kilo tons. East Asia is the electrical vehicle manufacturing hub, and accounted for around two-third of the global production in 2019. Along with electrical vehicles, East Asia is the second-largest fuel cell vehicle market after North America, and accounts for nearly 43% global sales.
However, ongoing initiatives by East Asian governments are set to surpass the North America fuel cell vehicle market by the midterm forecast period. Attributed to the aforementioned facts, East Asia has driven nafion consumption during the historical period, and is poised to maintain its dominance over other regions, accounting for over half of the global nafion market by 2030. The East Asia nafion market is poised to experience a leading growth rate of 6% during the forecast period.
Competition Analysis of Global Nafion Market
The global nafion market is oligopolistic in nature, where only four players currently account for global nafion production. Currently, The Chemours Company, Solvay SA, AGC Inc, and Dongyue Group Ltd. are the key stakeholders in the nafion market.
In response to increasing demand and to align with the trend of high performance ion exchange membranes, targeted product launches and strategic partnerships have been identified as key strategies by nafion market players.
For instance, in order to meet the increasing demand for ion exchange membranes with superior chemical stability, thermostability, durability, and mechanical strength, The Chemours Company launched a new product named Nafion NC700 membrane in 2019, which is laced with the aforementioned capabilities.
Similarly, Solvay authorized Merck KGaA, Darmstadt, Germany, as a global distributor for its high performance perfluorosulfonic acid (PFSA) product line named Aquivion. Targeted strategic initiatives by market players will not only deepen their roots in the global nafion market but also boost market growth.
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COVID-19 Pandemic Impact on Nafion Market
The coronavirus outbreak has for brought the world to its knees, and forced people to stay under lockdowns in their homes, which has affected production and demand across the globe. Fear of coronavirus has forced countries to halt any kind of import-export across borders. Sudden industrial shutdowns and transportation have crippled the global economy in the last few months. As per WHO and UN stats, loss caused due to the coronavirus outbreak may take years to recover.
East Asia is the least affected region by the coronavirus outbreak, and is poised to assist global market growth by the end of 2020. But, East Asia imports most of the nafion material from North America and Europe. Suspended import-export across borders due to the pandemic crisis may squeeze market growth till the situation improves.
Further, Europe and North America are the two leading consumers of nafion, accounting for significant demand in 2019. Along with being the leading nafion consumers, these are most affected regions by the coronavirus outbreak, accounting for nearly half of the global fatalities. The situation in these regions has impacted the global nafion market, which is poised to recover by the end of 2020.
The Analyst’s Viewpoint
“In the midst of the COVID-19 pandemic, the global nafion market is poised to suffer a likely loss of US$ 150 Mn by the end of 2020”.
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About the Nafion Market Report
Fact.MR published an exclusive forecast report on the nafion market for 2020 to 2030. The foremost objective of this report on the nafion market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the market. Also, the study on the nafion market addresses key dynamics that are expected to diversify the sales and future prominence of nafion.
The report on the nafion market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the nafion market, elaborating on key segments.
The report also outlines visionary insights on the dynamics of the nafion market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key buying factors for nafion. Supply chain analysis and pricing analysis of the nafion market, along with the difference between nafion used as per application, have also been included in the report to help readers clearly understand the product framework map in the nafion market.
Nafion Market: Segmentation
Fact.MR has segmented the nafion market on the basis of form, application, and region.
- Fuel Cels
- Hydrogen Production
- Energy Storage
- Chemical Processing
- Chlor Alkali
- Ion Exchange
- Waste Recovery
- Drying & Humidification
- Single Tubing Systems
- Multi Tubing Systems
- North America
- Latin America
- East Asia
- Rest of the World
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Nafion Market - Scope Of The Report
The nafion market study done by Fact.MR gives exclusive information about how the market will grow during the forecast period of 2020–2030. The study identifies crucial trends that are determining the growth of the nafion market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply of nafion. The report primarily conveys a summary of the market, considering present and upcoming global industry developments to reveal striking sides relating to the adoption of nafion across prominent regional markets.
A detailed assessment of market supply chain analysis, business execution, and value chain analysis across regional markets has been provided in the report. A list of prominent companies operating in the nafion market enhances the reliability of this comprehensive research study.
Nafion Market: Report Summary
The study offers inclusive analysis on diverse features, including demand, revenue generation, and sales by key players in the nafion market across the globe. A comprehensive study on the market has been done through optimistic and conservative scenarios. The analysis and estimation of price point comparison by region with the global average price has been included in this study.
Nafion Market: Analysis on Market Size Evaluation
Existing predictions of the nafion market, encompassing current as well as forthcoming values estimates, analysis on region-wise demand trends, and price index have been assimilated in the report.
The market estimation at the regional and global scale of nafion is available in terms of value (US$ Mn) and in terms volume (tons). A Y-o-Y growth contrast of prominent nafion market segments, along with market attractiveness valuation computes have been incorporated in the report. Metrics mentioned above are also based on nafion types where nafion witnesses steady demand.
Nafion Market: Scrutinized Assessment on Regional Segments
Weighted sections have been elaborated in the report of the nafion market, which deliver projections on regional markets. These chapters highlight regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the nafion market during the forecast period.
Country-specific valuations on the demand for nafion have been offered for each regional market, along with market scope estimates and forecasts, price index, price point assessment, and impact analysis of dynamics in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Nafion Market: In-depth Analysis on Competitive Landscape
The report offers the competitive scenario of the nafion market, along with the profiles of prominent companies contributing to market expansion. Essential and up-to-date data as well as information correlated to market performers who are principally engaged in the production and supply of nafion have been presented with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits readers to take preemptive steps in advancing their businesses.
Company profiles have been combined in the report, which exert essentials such as form portfolio, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all prominent players functioning in the nafion market. It offers actionable insights to readers, which helps in thoughtfully presenting market status and predicting the competition levels in the nafion market. Prominent companies operating in the global nafion market include The Chemours Company, Solvay SA, AGC Inc. and Dongyue Group Ltd.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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