Nafion Industry Analysis in East Asia

Nafion Sales Outlook for East Asia (2023 to 2033)

Demand for Nafion in East Asia is estimated at a value of US$ 346.9 million in 2023 and is forecasted to rise at 6.1% CAGR from 2023 to 2033. Fact.MR projects sales of Nafion in the region to reach US$ 627.3 million by the end of 2033.

Nafion sales in East Asia are projected to bring in more revenue than any other region in the world. Presence of semiconductor manufacturers, and chemical companies, and the development of hydrogen-powered vehicles are forecasted to create highly attractive business opportunities for Nafion providers in East Asia going forward.

Rising focus on sustainability and the high demand for green hydrogen generation are also uplifting shipments of Nafion materials in this region. The high use of Nafion as a catalyst and super acid resin in the chemical industry is also projected to bolster its demand outlook in the East Asian region across the forecast period.

• East Asia is projected to account for 46.9% of global Nafion sales by 2033-end.

Report Attributes	Details
Nafion Sales in East Asia (2023)	US$ 346.9 Million
Projected Sales (2033F)	US$ 627.3 Million
Demand Growth (2023 to 2033)	6.1% CAGR
Nafion Resin Sales Volume (2033F)	374.6 Tons
Demand Growth in Energy Applications (2023 to 2033)	6.3% CAGR
Sales in South Korea (2033F)	US$ 86.9 Million
Demand Volume in China (2023)	1,064 Tons
Key Companies Profiled	Chemours; AGC Inc.; Dongyue Group Ltd.

What’s Threatening Nafion Demand Growth in East Asia?

“Increasing Availability of Nafion Substitutes and High Cost of Nafion Production”

Increasing investments in the R&D of novel materials to improve the efficiency of hydrogen production and synthesis has resulted in the growing availability of Nafion substitutes in the East Asian region. The rising availability of these Nafion alternatives is projected to hurt shipments of Nafion over the coming years.

• In 2023, researchers at Nagoya University, Japan, announced that they had developed a new polymer electrolyte membrane (PEM) for fuel cells. The new membrane has an ion exchange capacity (IEC) 5 times higher than Nafion and six times higher conductivity than Nafion.

High cost of Nafion production is also projected to impede demand for Nafion in East Asia and create issues for companies across the study period and beyond. Learn more about growth-augmenting aspects such as local supply, pricing trends, product standards, safety regulations, and new developments in this research study for Nafion by skilled analysts at Fact.MR, a market research and competitive intelligence provider.

Country-wise Insights

China, Japan, and South Korea are all projected to be highly attractive markets in the East Asian region with China taking the lead in terms of value as well as volume sales.

Why Will Investing in China Be a Smart Choice for Nafion Suppliers?

“Robust Semiconductor Manufacturing Activity and High Hydrogen Production”

Attribute	China
Market Value (2023)	US$ 199.9 Million
Growth Rate (2023 to 2033)	6.4% CAGR
Projected Value (2033)	US$ 373.3 Million

China is a renowned name in the world when it comes to hydrogen and semiconductor production, both of these applications are estimated to bolster demand for Nafion products in the country going forward. The rapidly expanding electric vehicle fleet of the country is also anticipated to favor Nafion sales in China over the next ten years. Hydrogen production in China is still a very emission-intensive affair and efforts by the government to promote the production of sustainable hydrogen generation are slated to create new opportunities for Nafion suppliers in the future.

What Opportunities Does Japan Offer for Nafion Companies?

“High Production of Hydrogen-powered Vehicles”

Attribute	Japan
Market Value (2023)	US$ 94.9 Million
Growth Rate (2023 to 2033)	5.8% CAGR
Projected Value (2033)	US$ 167.1 Million

Japanese automotive companies have proven their mettle in the world by creating some of the most iconic vehicles in the automotive history of the world. Now, as the focus on sustainability is increasing and demand for alternative fuel vehicles is rising around the world, Japanese automotive giants have shifted their focus to the development of hydrogen engines that work on hydrogen fuel cells. Increasing investments in the development of clean hydrogen technologies and sustainable hydrogen production are slated to influentially augment shipments of Nafion materials in Japan over the coming years.

Category-wise Insights

Nafion companies are focusing on providing Nafion for chemical processing and energy applications to bolster their presence in the East Asian region. Most Nafion suppliers in East Asia are predicted to focus on supplying Nafion membranes to satisfy the rising demand.

Nafion in Which Form Holds a Leading Market Share?

“Nafion Membranes Popular in East Asian Region”

Attribute	Membrane
Segment Value (2023)	US$ 225.5 Million
Growth Rate (2023 to 2033)	6.1% CAGR
Projected Value (2033)	US$ 410.3 Million

Nafion membranes find application in the development of various kinds of fuel cells. East Asia is home to some of the most prominent fuel cell manufacturing companies in the world and this is projected to benefit sales of Nafion in the long run. Japan and South Korea are forecasted to emerge as highly remunerative markets by the end of 2033 but China is slated to maintain its dominance from the present time to the end of the study period.

Which Type of Chemical Processing is Nafion Extensively Used In?

“Chlor Alkali Processing Driving Sales of Nafion Materials”

Attribute	Chemical Processing
Segment Value (2023)	US$ 130.4 Million
Growth Rate (2023 to 2033)	5.9% CAGR
Projected Value (2033)	US$ 231.9 Million

East Asian countries are home to some of the most prominent chemical manufacturing companies in the world. Moreover, the abundant availability of raw materials, cheap labor, and supportive government initiatives are also contributing to the expanding chemical industry in this region. As chemical manufacturing activity rises, the demand for Nafion in chemical processing is also forecasted to increase. The chlor alkali process is anticipated to account for a prominent Nafion demand volume over the next ten years.

• Sales of Nafion for the chlor alkali process are extrapolated to account for a revenue of US$ 137.1 million and a volume of 699.4 tons by 2033-end.

Competitive Landscape

Chemours controls the supply of Nafion majorly in East Asia and the rest of the world and this is why any other Nafion supplier looking to make a mark in this region should collaborate or partner with Chemours to make their business a success.

Segmentation of Nafion Study in East Asia

• By Form :

  • Membrane
  • Resin
  • Dispersion

• 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

• By Country :

  • China
  • Japan
  • South Korea