Nafion Market is estimated to be US$ 6.64 billion by 2030 with a CAGR of 10.5% during the forecast period
Nafion is the first ever perfluorosulfonic acid (PFSA) polymer manufactured by Dupont in the 1970s. Nafion was primarily made due to the increasing demand for ion exchange membranes for the fuel cell applications. Efficacy to offer a cost-economical alternative to maximize production efficiency in the chlor alkali industry is sett to expand the global nafion market size over the forecast period. Further, growing demand for clean energy sources and concerns related to rising emission norms, coupled with momentum toward low or no emission vehicles has also increased the demand for Nafion market.
Region Analysis:
Asia Pacific is expected to dominate global nafion market, due to presence of electrical vehicle manufacturing hub and also accounts for nearly 43% global sales. Further, ongoing initiatives by East Asian governments are also expected to set the market for Nafion. Further, United States, also hold the significant position due to increasing spending capacity on infrastructure activities and rising demand for nafion-based architectural paints from construction sector.
Key Development:
· In June 2019 - SLM Solutions announced that the company has extended its cooperation agreement with Beam IT, the largest additive manufacturing service provider in Italy.
· In May 2016 - EOS, one of the leading suppliers in the global nafion market announced that it has introduced a new line metal materials.
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Segmentation:
The global Nafion Market accounted for US$ 0.7 billion in 2020 and is estimated to be US$ 1.3 billion by 2030 and is anticipated to register a CAGR of 6.2%. The global Nafion Market is segmented based on component, application, sales and region.
· On the basis of component, the global Nafion market is segmented into membrane, dispersion, and resin.
· On the basis of application, the global Nafion Market is segmented into chemical processing, energy, analytics and instrumentation, and coating.
· On the basis of sales channel, the global Nafion Market is segmented into Direct Channel and Distribution Channel.
· On the basis of region, the global Nafion Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Analysis:
The key players operating in the global Nafion Market includes DuPont, Solvay S.A., Dongyue Group Ltd., ThermoFisher Scientific Inc., Hangzhou Dayangchem Co Ltd, MERCK, BeanTown Chemical Inc, FUJIFILM Wako Pure Chemical Corporation, Haihang Industry Co Ltd, The Chemours Company, and Carbosynth Limited.
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