Nafion Market to Surpass US$ 1.41 Billion at 5.6% CAGR by 2034, States Fact.MR
Green Hydrogen Demand Growth Lighting Path of Success for Nafion Manufacturers
Rockville , Nov. 22, 2023 (GLOBE NEWSWIRE) -- The global Nafion Market is estimated to account for a value of US$ 812.8 million in 2024 and is projected to expand at 5.6% CAGR over the next ten years (2024 to 2034). This study by Fact.MR, a market research and competitive intelligence provider, reveals that demand for advanced Nafion is set to surpass worldwide sales of traditional Nafion by the end of 2034.
Nafion is a popular sulfonated tetrafluoroethylene-based fluoropolymer-copolymer used in different industry verticals. Global use of fluoropolymers has continuously increased in a range of industries, including chemical, automotive, electronics, and semiconductor industries, which in turn, is driving demand for Nafion as well.
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Key Segments of Nafion Market Research Report
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Increasing focus on clean energy transition is pushing countries across the world to invest in green hydrogen production facilities and the use of Nafion membranes in them is slated to bolster market growth over the next ten years. China, the United States, Japan, India, Germany, and France are projected to emerge as highly rewarding markets around the world through 2034.
Key Takeaways from Market Study
- Worldwide demand for Nafion is projected to rise at a CAGR of 5.6% from 2024 to 2034.
- The global Nafion market is forecasted to reach a size of US$ 1.41 billion by 2034-end.
- High demand for sustainable materials, growing focus on green hydrogen production, increasing use of Nafion materials in energy applications, and high investments in Nafion R&D are key market drivers.
- High costs of Nafion production and growing availability of Nafion substitutes are projected to be major challenges that Nafion companies will face in the future.
- Sales of Nafion in East Asia are forecasted to increase at 6.1% CAGR across the study period.
- In 2024, Nafion sales in the United States are estimated to at US$ 182.6 million.
- Demand for Nafion in the membrane form is predicted to bring in a revenue of US$ 920 million by the end of 2034.
“Surging use of Nafion membranes in green hydrogen production will offer lucrative opportunities for market players in the years ahead,” says a Fact.MR analyst
Winning Strategy
Nafion companies should focus on investing in the R&D of novel and innovative Nafion materials to stay competitive in the marketplace and be one step ahead of the competition. Nafion suppliers should specifically focus on supplying their products to the hydrogen generation industry to ensure steady revenue generation in the future as well.
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| Report Attribute | Details |
| Value Projection (2034) | USD 1.41 Billion |
| Growth Rate (2024-2034) | 5.6% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 74 Figures |
Apart from European nations, Nafion manufacturers and distributors can target markets like India, China, the United States, and Japan to enhance their global presence and strengthen their position in the market, as these regions are expected to experience significant Nafion market shares.
In India, a heightened focus on carbon emission reduction has driven the increased adoption of electric vehicles, creating a lucrative environment for Nafion companies in the South Asian region. The growing demand for fuel cells and the Indian government's initiatives to establish the country as a leader in green hydrogen production are anticipated to drive Nafion shipments in India through 2034.
The United States, featuring key Nafion suppliers such as Chemours and Solvay, holds a pivotal role in the global market. The country's increasing embrace of sustainable materials across various industries and the rising demand for green hydrogen are projected to contribute to the growth of Nafion sales in the U.S. throughout the study period.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Nafion market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights on the market based on form (membrane, resins, dispersion) and application (energy, chemical processing, drying & humidification, others), across six major regions of the world (North America, Europe, Latin America, East Asia, South Asia & Oceania, and the Middle East & Africa).
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About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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