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Trusted Business Insights presents an updated and Latest Study on Nafion Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Nafion market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The global nafion market is estimated to value of over US$ 1.2 Bn in 2018, and is projected to register a CAGR of 8.5% in terms of value over the forecast period. The report offers in-depth insights, revenue details, and other vital information regarding the global nafion market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report includes PEST analysis, Porters Five Forces analysis, and opportunity map analysis for in-depth understanding of the market. The nafion market report offers insightful and detailed information regarding the various key players operating in the global nafion market, their financials, technological innovations, key developments, apart from future strategies, SWOT analysis, acquisitions & mergers, and market footprint. The global nafion market is segmented on the basis of component type, application, and region/country.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Nafion is a sulfonated tetrafluoroethylene based fluoropolymer-copolymer. It is highly ion-conductive and it functions as a cation exchange polymer. Nafion has high mechanical strength, and excellent thermal and chemical stabilities. It is very stable at high temperatures -up to 190° C -and has relatively higher working temperatures as compared to other polymers.
Global Nafion Market Dynamics:
Growing end-uses is leading to rising demand for various organic polymers, including nafion. Demand for nafion in a range of end-use applications has been increasing at a significant rate, and some end-use applications include semiconductors, waste recovery, ion exchange resins, to name a few. In addition, increasing use of fuel cells for various applications such as stationary power, transportation, portable or direct methanol fuel cell, etc., is expected to fuel growth of the target market to significant extent over the forecast period.
Moreover, increasing investment and funding by regulatory bodies to address rising water pollution and environmental concerns across the globe is expected to drive demand for Nafion for application in the waste recovery sector.
Furthermore, increasing use of fuel cells for various applications such as stationary power, transportation, portable or direct methanol fuel cell, etc., is expected to fuel growth of the target market to significant extent over the forecast period.
Increasing collaborations of fuel cell and electric vehicle manufacturers will provide a beneficial opportunity to manufacturers of nafion over the forecast period. Need for large-scale electrical energy storage systems to more efficiently match supply and demand is rising rapidly. Fuel cell with nafion membranes have demonstrated excellent mechanical properties, high ionic conductivity, and chemical stability. Manufacturers of fuel cells are collaborating with electric vehicle manufacturers as the market for electric vehicles is expected to grow at a significant rate over the next 10 years. Therefore, strategic collaborations of nafion manufacturers with fuel cell manufacturers are projected lucrative opportunities for players in the global market.
However, cost of nafion membrane is high, and its proton conductivity decreases at temperatures exceeding 190° C. Nafion membranes have major applications in fuel cells. In addition, fuel cells use expensive proton-conducting membranes, which are used as electrolytes in both methanol and PEM fuel cells. These membranes account for half the cost of the membrane electrolyte assembly. Moreover, availability of alternate membranes that are 50-times cheaper than nafion membrane, which is expected to restrain revenue growth of target market over the forecast period.
Analysis by Component Type:
On the basis of component type segmentation, the membrane segment is expected to contribute major revenue share to the global market and is expected to maintain its dominance over the forecast period. The membrane segment witnesses a CAGR over 8.5%. Increasing adoption of nafion market membrane, owing to its advantages such as mechanical reinforcement with enhanced chemical stability, improved membrane durability, and others are major factors expected drive revenue growth of the membrane segment over the forecast period.
Analysis by Application:
Among all the application segments, the chemical processing segment accounts for highest share in terms of revenue in the global market. Adoption of nafion is increasing in chemical processing owing to various advantages, including reduced lifetime costs/total cost of ownership (TCO), limited maintenance downtime, fewer process interruptions, consistent production quantities, and reduced lifetime energy consumption. These are major factors expected to drive revenue growth of the chemical processing segment over the forecast period.
Analysis by Region/Country:
The US market accounted for major share in terms of revenue in the global nafion market in 2017. Increasing spending on infrastructure activities and rising demand for nafion-based architectural paints from the construction sector, owing to its ability to seamlessly bond several thin-layered coats together with minimal or no blisters, and acts as a layer of protection from harsh weather conditions are major factors driving growth of the US nafion market.
Rapid urbanization, coupled with ability of nafion market batteries to meet rising demand for energy storage and generator back-up facilities for smooth functioning of industrial verticals are other factors expected to drive growth of the US nafion market to a significant extent. Moreover, rising demand for electric vehicles to reduce dependency on non-renewable energy resources in the US is a major factor further expected to fuel growth of the US nafion market over the forecast period.
The market in China is expected to witness considerable growth in terms of revenue during the forecast period. Rapid growth of the semiconductor industry in China is a major factor expected to support growth of the nafion market in China. For instance, according to a report published by The Semiconductor Industry Association (SIA), year-on-year sales of semiconductors increased by 22.1% in China in June 2018. Moreover, increasing adoption of fuel cells to power passenger vehicles, commercial buildings, homes, and even small devices such as laptop computers is expected to drive growth of the nafion market in China.
Rapid growth of the automotive industry in China, and initiatives by government in the country for production and adoption of electric vehicles is expected to drive growth of the market over the forecast period. For instance, according to the International Organization of Motor Vehicle Manufacturers, overall production of passenger vehicles in China was approximately 24,806,687 Units, and Units of commercial vehicles was approximately 4,208,747 in 2017.
Global nafion market segmentation:
Global nafion market Segmentation on the basis of component type:
Global nafion market Segmentation on the basis of application:
- Chemical Processing
- Analytics & Instrumentation
Key Market Players included in the report: Global Nafion Market
- Computershare Limited
- The Bank of New York Mellon Corporation
- Wells Fargo Bank
- National Association
- American Stock Transfer & Trust Company, LLC
- Continental Stock Transfer & Trust Company, Inc.
- Broadridge Corporate Issuer Solutions, Inc.
- Karvy Computershare Private Limited
- Franklin Templeton International Services (India) Pvt. Ltd.
- HSBC Holdings plc.
Key Insights Covered: Global Nafion Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Nafion industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Nafion industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Nafion industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Nafion industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Nafion industry.
Research Methodology: Global Nafion Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
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