PEM Fuel Cells Materials Market Size Share – Industry Trends by 2018
The global market for components of proton exchange membranes (PEM) and membrane electrode assemblies (MEA) used in PEM Fuel cells (PEMFC) is witnessing a trend of rising demand. The market is expected to record a compounded growth of approximately 21.1% from 2012 to 2018. The key factors influencing the market growth are growing environmental problems and depleting conventional fuel resources. This has resulted in the need to find alternative energy resources, and fuel cells have been instrumental in meeting the diverse requirements.
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The growing demand for efficient, durable, and safe fuel cells has been influencing the market dynamics for fuel cell components. The high growth potential of fuel cells is driving players into the market. The current industry players are DuPont, Dow, E-TEK, 3M, W. L. Gore & Associates, Inc., Hoku Scientific, Inc., and some others.
Fuel cells are of different types, and can be classified based on electrolyte or fuel types. Depending on electrolyte or the fuel used, fuel cells have different applications and operating condition specifications and requirements. The proton exchange membranes used in fuel cells are of three types - perfluorinated, partially fluorinated, and hydrocarbon based.
PEMFCs are experiencing fast rise in demand due to their preference for use and applications in residential power, automobiles, and in portable devices such as cell phones, tablets, laptops, and in imaging devices. The attributes of PEMFCs such as durability, quick response, non-corrosiveness, absence of carbon, and minimal design challenges (shape and size) make them ideal for use in such devices, which are directly driving the demand and the subsequent market growth.
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The materials used in a PEMFC are proton exchange membranes (PEM), catalysts, gaseous diffusion layers (backing layers), and bipolar plates. Among these, PEM, which is an electrolyte, is the most important component of the fuel cell, and is seeing continuous developments for higher efficiency. The suitability of materials for use as PEM and MEA designs is one of the fields where new applications and design solutions are being developed.
The need of intense research and development is seeing a growing trend of governments subsidizing such activities and providing incentives to companies operating in the field. Finding a suitable catalyst, which is a major cost component of the PEMFC, is a key challenge to be addressed to keep the prices down for encouraging a higher adoption rate.
Though the fuel cells market is more dynamic in North America and Western Europe, the economic slowdown is pushing certain quarters of governments to cut down on subsidies and grants, which may hinder the market growth. It is estimated that MEA components account for the largest market share, but would see a slower growth compared to catalysts, which is the fastest growing segment. The global market is, however, expected to see a rise in growth rate in the near future due to growing energy and environment constraints.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
Rest of the World
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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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The global proton exchange membrane (PEM) fuel cells materials market is currently making headway to secure its place on a rising trend on the back of PEM and membrane electrode assembly (MEA) components. The demand for PEM fuel cell (PEMFC) has predominantly fueled the fuel cells industry. In fact, PEMFC has emerged as a champion segment amongst all the other categories of fuel cells. Howbeit, there is still some room