Nafion Industry Analysis in North America
Nafion Study in North America By Form (Membrane, Dispersion, Resin), By Application (Energy, Chemical Processing, Drying & Humidification) and By Country - Industry Report 2023 to 2033
Nafion Industry Analysis Report in North America Covering Countries Including US, Canada
Nafion Sales Outlook for North America (2023 to 2033)
Sales of Nafion in North America are estimated at US$ 197.1 million in 2023 and are forecasted to increase at 5.5% CAGR from 2023 to 2033. As such, by the end of 2033, Nafion demand is set to reach a market valuation of US$ 337 million in the region.
Nafion materials are manufactured from copolymers of tetrafluoroethylene and perfluorinated monomers containing sulfonic acid. Increasing efforts to maximize green hydrogen production in the North American region are projected to catalyze the demand for Nafion products over the coming years. Rising investments in the R&D of hydrogen engines are slated to bolster demand for fuel cells and benefit sales of Nafion materials across the study period. Efforts of governments in the North American region to combat climate change and improve sustainability are also predicted to create new opportunities for Nafion vendors in the future.
- 1,330.6 tons of Nafion in North America is projected to be used in the United States in 2033.
|Nafion Sales in North America (2023)||US$ 197.1 Million|
|Projected Sales (2033F)||US$ 337 Million|
|Demand Growth (2023 to 2033)||5.5% CAGR|
|Sales in United States (2033F)||US$ 299.7 Million|
|Nafion Dispersion Volume Sales (2023)||194.8 Tons|
|Nafion Resin Sales (2023)||US$ 31.3 Million|
|Use in Chemical Processing (2033F)||427.7 Tons|
|Key Companies Profiled||
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Can Start-ups Help Elevate Demand for Nafion in North America?
“New Companies Should Focus on Green Hydrogen Production”
Efforts to reduce greenhouse gases and eliminate the use of fossil fuels are of utmost importance in all parts of the world now as climate change becomes a very real threat. Electric vehicles and hydrogen-powered vehicles are projected to make up the future of mobility in North America and the rest of the world. Start-ups are working on creating hydrogen and electricity from it in the most sustainable way possible thereby promoting shipments of Nafion materials in the future.
- Versogen, a new company focusing on generating green hydrogen, announced that it had raised US$ 14.5 million in an investor funding round in May 2022. HyAxiom, Chemours, and TechEnergy Ventures are some of the key investors in this new company. The start-up is projected to use Nafion ion exchange membranes to create hydrogen sustainably.
Learn more about growth-augmenting aspects such as local supply, pricing trends, product standards, safety regulations, and new developments in this research study for Nafion by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
The United States and Canada are both projected to offer highly remunerative business opportunities for Nafion suppliers owing to the increasing demand for sustainable hydrogen production in North America.
What Makes the United States a Key Market in This Business?
“Presence of Key Nafion Manufacturers Creating Growth Scope”
|Market Value (2023E)||US$ 174.1 Million|
|Growth Rate (2023 to 2033)||5.5% CAGR|
|Projected Value (2033F)||US$ 299.7 Million|
The United States is home to Chemours, which is the leading supplier of Nafion and Nafion materials not just in North America but all over the world. Solvay is another key Nafion vendor in the country and the presence of these companies has allowed the country to hold a significant revenue and volume share in North America. Increasing focus on the adoption of sustainable materials, growing demand for green hydrogen, and the launch of several clean energy projects in the country are also estimated to promulgate shipments of Nafion in the long run.
Which Factor Will Spearhead Nafion Sales in Canada?
“Growing Focus on Clean and Renewable Energy Generation”
|Market Value (2023E)||US$ 23.1 Million|
|Growth Rate (2023 to 2033)||4.9% CAGR|
|Projected Value (2033F)||US$ 37.4 Million|
The Canadian government has been taking initiatives to promote renewable energy generation to combat climate change in the country. Efforts to create sustainable hydrogen and become a green hydrogen economy are projected to bolster demand for Nafion materials in Canada over the coming years. The presence of a good amount of companies working on hydrogen and fuel cell technologies also creates an opportune scenario for Nafion suppliers going forward.
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Nafion manufacturers in North America are focusing on providing Nafion membranes for energy applications to improve their sales and revenue generation potential going forward.
Which Form of Nafion Accounts for Most Revenue?
“Nafion Membranes Spearheading Revenue Generation”
|Segment Value (2023E)||US$ 127.7 Million|
|Growth Rate (2023 to 2033)||5.6% CAGR|
|Projected Value (2033F)||US$ 221.3 Million|
A majority of fuel cells being produced around the world feature polymer electrolyte membranes (PEM) and Nafion is extensively used as an electrolyte in these membranes. Surging demand for hydrogen fuel cells for hydrogen-powered vehicles is projected to augment Nafion membrane sales over the next ten years. However, the limited mechanical strength of Nafion membranes has capped their application potential for use below 100°C.
Where is Majority of Nafion Being Utilized?
“Energy Applications to Hold Prominent Nafion Demand Share”
|Segment Value (2023E)||US$ 105.4 Million|
|Growth Rate (2023 to 2033)||5.8% CAGR|
|Projected Value (2033F)||US$ 185.4 Million|
Nafion is being extensively used for energy storage in renewable energy plants as it improves the productivity of the plants without risking and destabilizing energy grids. Growing demand for clean energy generation is projected to bolster sales of Nafion materials in the North American region over the next ten years and beyond. Copious amounts of Nafion are forecasted to be used in fuel cell production as it is key component of fuel cell membranes.
- Around 523.6 tons of Nafion material is projected to be used in fuel cells by 2033-end in North America.
Nafion manufacturers in North America are focusing on collaborations and partnerships to expand their business potential and fast-track the development of novel Nafion materials going forward.
- In October 2022, The Chemours Company, a leading Nafion producer, announced its plans to collaborate and enter into a new joint venture with a German company called BWT FUMATECH Mobility GmbH. The companies were expected to combine their expertise in fuel cell technology to fuel innovation in the same space.
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Segmentation of Nafion Study in North America
By Form :
By Application :
- Fuel Cells
- Hydrogen Production
- Energy Storage
- Chemical Processing
- Chlor Alkali
- Ion Exchange
- Waste Recovery
- Drying & Humidification
- Single Tubing Systems
- Multi Tubing Systems
By Country :
- United States
- FAQs -
Nafion demand in North America stands at a market value of US$ 197.1 million in 2023.
Sales of Nafion are forecasted to reach US$ 337 million by 2033-end.
Sales of Nafion in North America are set to increase at 5.5% CAGR from 2023 to 2033.
Nafion is extensively used in chemical processing and energy applications.
Nafion demand in the United States is forecasted to rise at 5.5% CAGR over the next ten years.
Chemours and Solvay are renowned Nafion companies in the North American region.