Rockville, May 11, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global nafion market is estimated at US$ 776.9 million in 2022 and is expected to grow at a CAGR of 5.0% during the forecast years of 2022-2032.
To offer application-specific products, companies are offering various forms such as resins, dispersions, and membranes. The Chemours Company, Solvay, and Dongyue offer nafion in all three forms for a range of applications.
For instance, nafion membranes offered by Chemours, are used in the Chlor-alkali industry, fuel cells for hydrogen production, energy storage, and transportation.
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To monopolize the company’s product portfolio, Chemours offers varieties of nafion membranes such as Nafion sulfonic acid membrane and Nafion Chlor alkali exchange, which are also categorized as high-strength membranes and high-performance membranes.
The four product categories that Solvay has identified are membranes, dispersions, resins, and pellets. These items can be used for a variety of purposes, such as polytetrafluoroethylene (PTFE) membranes surface treatment, polymer electrolyte membrane (PEM) fuel cell electrodes, and super acid catalysts.
Key Takeaways from Market Study
- The global nafion market is projected to expand at a CAGR of 5.0% and be valued at US$ 1,265.5 million by 2032
- The market witnessed a 1.0% CAGR for the period of 2017-2021
- Under the form, membrane Nafion dominates the market and is valued at US$ 534.8 million in 2022
- East Asia dominated the market with a 55.2% market share in 2022
- Europe dominated the market with an 18.6% market share in 2022
- North America dominated the market with a 20.3% market share in 2022
Booming Semi-conductor and Automotive industry coupled with strategic alliances by Market Players to redefine the growth trajectory of the market in the near future, says a Fact.MR analyst.
Industrial giants have increased their focus on strategic partnerships with end users and with distributors to allow them to expand their market presence across the globe. Investment in product launches has remained a key strategy by market players to leverage versatile product portfolios in a range of end-use industries.
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Market Development
The global nafion market is a highly consolidated market. The scenario is projected to continue, attributed to their targeted product launches in order to align with increasing demand and the trend of high-performance ion exchange membranes.
Key Companies Profiled
- The Chemours Company
- Solvay SA
- AGC Inc.
- Dongyue Group Ltd.
Players operating in global Nafion need to anchor presence across conventional application areas due to surging demand for PEM membrane fuel cells and nafion chlor alkali membrane. Investment towards vertical integration would increase the profit margins for market players and players can invest in new emerging sectors like semiconductor, drying, and humidification applications.
Segmentation of Nafion Industry Research
- By Form:
- Dispersion
- Resin
- Membrane
- By Application:
- Energy
- Fuel Cells
- Hydrogen Production
- Energy Storage
- Chemical Processing
- Chlor Alkali
- Catalysts
- Ion Exchange
- Semiconductors
- Waste Recovery
- Others
- Drying & Humidification
- Single Tubing Systems
- Multi Tubing Systems
- Others
- Energy
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global nafion market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of form (dispersion, resin, and membrane), application (energy (fuel cells, hydrogen production, and energy storage), chemical processing (chlor alkali, catalysts, ion exchange, semiconductors, waste recovery, and others), drying & humidification (single tubing systems and multi tubing systems), others), across major regions of the world.
Key Questions Covered in the Nafion Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Nafion sales grow until 2032?
- Which are the factors hampering the Nafion demand?
- Which region will spearhead the growth in the global industry by 2032?
- Which are the factors driving sales in the Nafion Market during the forecast period?
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