Nafion Industry Analysis in North America
Nafion Study in North America By Form (Membrane, Dispersion, Resin), By Application (Energy, Chemical Processing, Drying & Humidification) and By Country - Industry Report 2023 to 2033
Nafion Industry Analysis Report in North America Covering Countries Including US and Canada
Nafion Sales Outlook for North America (2023 to 2033)
Sales of Nafion in North America are estimated at US$ 197.1 million in 2023 and are forecasted to increase at 5.5% CAGR from 2023 to 2033. As such, by the end of 2033, Nafion demand is set to reach a market valuation of US$ 337 million in the region.
Nafion materials are manufactured from copolymers of tetrafluoroethylene and perfluorinated monomers containing sulfonic acid. Increasing efforts to maximize green hydrogen production in the North American region are projected to catalyze the demand for Nafion products over the coming years. Rising investments in the R&D of hydrogen engines are slated to bolster demand for fuel cells and benefit sales of Nafion materials across the study period. Efforts of governments in the North American region to combat climate change and improve sustainability are also predicted to create new opportunities for Nafion vendors in the future.
- 1,330.6 tons of Nafion in North America is projected to be used in the United States in 2033.
| Report Attributes | Details |
|---|---|
| Nafion Sales in North America (2023) | US$ 197.1 Million |
| Projected Sales (2033F) | US$ 337 Million |
| Demand Growth (2023 to 2033) | 5.5% CAGR |
| Sales in United States (2033F) | US$ 299.7 Million |
| Nafion Dispersion Volume Sales (2023) | 194.8 Tons |
| Nafion Resin Sales (2023) | US$ 31.3 Million |
| Use in Chemical Processing (2033F) | 427.7 Tons |
| Key Companies Profiled |
|
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Can Start-ups Help Elevate Demand for Nafion in North America?
“New Companies Should Focus on Green Hydrogen Production”
Efforts to reduce greenhouse gases and eliminate the use of fossil fuels are of utmost importance in all parts of the world now as climate change becomes a very real threat. Electric vehicles and hydrogen-powered vehicles are projected to make up the future of mobility in North America and the rest of the world. Start-ups are working on creating hydrogen and electricity from it in the most sustainable way possible thereby promoting shipments of Nafion materials in the future.
- Versogen, a new company focusing on generating green hydrogen, announced that it had raised US$ 14.5 million in an investor funding round in May 2022. HyAxiom, Chemours, and TechEnergy Ventures are some of the key investors in this new company. The start-up is projected to use Nafion ion exchange membranes to create hydrogen sustainably.
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
The United States and Canada are both projected to offer highly remunerative business opportunities for Nafion suppliers owing to the increasing demand for sustainable hydrogen production in North America.
What Makes the United States a Key Market in This Business?
“Presence of Key Nafion Manufacturers Creating Growth Scope”
| Attribute | United States |
|---|---|
| Market Value (2023E) | US$ 174.1 Million |
| Growth Rate (2023 to 2033) | 5.5% CAGR |
| Projected Value (2033F) | US$ 299.7 Million |
The United States is home to Chemours, which is the leading supplier of Nafion and Nafion materials not just in North America but all over the world. Solvay is another key Nafion vendor in the country and the presence of these companies has allowed the country to hold a significant revenue and volume share in North America. Increasing focus on the adoption of sustainable materials, growing demand for green hydrogen, and the launch of several clean energy projects in the country are also estimated to promulgate shipments of Nafion in the long run.
Which Factor Will Spearhead Nafion Sales in Canada?
“Growing Focus on Clean and Renewable Energy Generation”
| Attribute | Canada |
|---|---|
| Market Value (2023E) | US$ 23.1 Million |
| Growth Rate (2023 to 2033) | 4.9% CAGR |
| Projected Value (2033F) | US$ 37.4 Million |
The Canadian government has been taking initiatives to promote renewable energy generation to combat climate change in the country. Efforts to create sustainable hydrogen and become a green hydrogen economy are projected to bolster demand for Nafion materials in Canada over the coming years. The presence of a good amount of companies working on hydrogen and fuel cell technologies also creates an opportune scenario for Nafion suppliers going forward.
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Category-wise Insights
Nafion manufacturers in North America are focusing on providing Nafion membranes for energy applications to improve their sales and revenue generation potential going forward.
Which Form of Nafion Accounts for Most Revenue?
“Nafion Membranes Spearheading Revenue Generation”
| Attribute | Membrane |
|---|---|
| Segment Value (2023E) | US$ 127.7 Million |
| Growth Rate (2023 to 2033) | 5.6% CAGR |
| Projected Value (2033F) | US$ 221.3 Million |
A majority of fuel cells being produced around the world feature polymer electrolyte membranes (PEM) and Nafion is extensively used as an electrolyte in these membranes. Surging demand for hydrogen fuel cells for hydrogen-powered vehicles is projected to augment Nafion membrane sales over the next ten years. However, the limited mechanical strength of Nafion membranes has capped their application potential for use below 100°C.
Where is Majority of Nafion Being Utilized?
“Energy Applications to Hold Prominent Nafion Demand Share”
| Attribute | Energy |
|---|---|
| Segment Value (2023E) | US$ 105.4 Million |
| Growth Rate (2023 to 2033) | 5.8% CAGR |
| Projected Value (2033F) | US$ 185.4 Million |
Nafion is being extensively used for energy storage in renewable energy plants as it improves the productivity of the plants without risking and destabilizing energy grids. Growing demand for clean energy generation is projected to bolster sales of Nafion materials in the North American region over the next ten years and beyond. Copious amounts of Nafion are forecasted to be used in fuel cell production as it is key component of fuel cell membranes.
- Around 523.6 tons of Nafion material is projected to be used in fuel cells by 2033-end in North America.
Competitive Landscape
Nafion manufacturers in North America are focusing on collaborations and partnerships to expand their business potential and fast-track the development of novel Nafion materials going forward.
- In October 2022, The Chemours Company, a leading Nafion producer, announced its plans to collaborate and enter into a new joint venture with a German company called BWT FUMATECH Mobility GmbH. The companies were expected to combine their expertise in fuel cell technology to fuel innovation in the same space.
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Segmentation of Nafion Study in North America
-
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
- Energy
-
By Country :
- United States
- Canada
Table of Content
1. North America Industry - Executive Summary 1.1. North America Industry Overview 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Fact.MR Analysis and Recommendations 2. North America Industry Overview 2.1. Industry Coverage / Taxonomy 2.2. Industry Introduction and Definition 3. Industry Risks and Trends Assessment 3.1. Risk Assessment 3.1.1. COVID-19 Crisis and Impact on Nafion 3.1.2. COVID-19 Crisis and Impact on Aprotic Solvent Prices 3.1.3. COVID-19 Impact Benchmark with Previous Crisis 3.1.3.1. Change in Demand 3.1.3.2. Before and After COVID-19 Crisis (Projected) 3.1.3.3. Before and After Sub-prime Crisis – 2008 (Actual) 3.1.3.4. Change in Demand Post-Recovery Period (After Each Crisis) 3.1.4. Impact on Industry and Value (US$ Mn) 3.1.4.1. Likely Loss of Value in 2022 3.1.4.2. Mid-term and Long-term Forecasts 3.1.4.3. Quarter by Quarter Demand and Recovery Assessment 3.1.5. Anticipated Demand and Value Recovery Curve 3.1.5.1. Likelihood of U-Shape Recovery 3.1.5.2. Likelihood of L-Shape Recovery 3.1.6. Recovery Period Assessment by Key Countries 3.1.7. Recovery Assessment by Key Industry Segments 3.1.8. Action Points and Recommendations for Suppliers 3.1.9. Impact on Trade Balance 3.2. Key Trends Impacting the Industry 3.3. Formulation and Source Development Trends 4. Industry Background and Data Points 4.1. Need of the Hour for Industries 4.2. Industry Wise Industry 4.0 4.3. Strategic Priorities 4.4. Life Cycle Stage 4.5. Importance of Technology 4.6. Use Cases of Nafion 4.7. Forecast Factors: Relevance and Impact 4.8. Investment Feasibility Matrix 4.9. PESTLE Analysis 4.10. Porter’s Five Forces Analysis 4.11. Industry Dynamics 4.11.1. Drivers 4.11.2. Restraints 4.11.3. Opportunity Analysis 4.11.4. Trend 5. North America Industry Analysis 2018 to 2022 and Forecast, 2023 to 2033 5.1. Historical Industry Value (US$ Mn) Analysis, 2018 to 2022 5.2. Current and Future Industry Value (US$ Mn) Projections, 2023 to 2033 5.2.1. Y-o-Y Growth Trend Analysis 5.2.2. Absolute $ Opportunity Analysis 6. North America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 6.1. Introduction / Key Findings 6.2. Historical Industry Value (US$ Mn) Analysis By Form, 2018 to 2022 6.3. Current and Future Industry Value (US$ Mn) Analysis and Forecast By Form, 2023 to 2033 6.3.1. Membrane 6.3.2. Resin 6.3.3. Dispersion 6.4. Industry Attractiveness Analysis By Form 7. North America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, by Application 7.1. Introduction / Key Findings 7.2. Historical Industry Value (US$ Mn) Analysis By Application, 2018 to 2022 7.3. Current and Future Industry Value (US$ Mn) Analysis and Forecast By Application, 2023 to 2033 7.3.1. Energy 7.3.2. Chemical Processing 7.3.3. Drying & Humidification 7.3.4. Others 7.4. Industry Attractiveness Analysis By Application 8. North America Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, by Country 8.1. Introduction / Key Findings 8.2. Historical Industry Value (US$ Mn) Analysis By Country, 2018 to 2022 8.3. Current and Future Industry Value (US$ Mn) Analysis and Forecast By Country, 2023 to 2033 8.3.1. United States 8.3.2. Canada 8.4. Industry Attractiveness Analysis By Country 9. United States Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 9.1. Introduction / Key Findings 9.2. Historical Industry Value (US$ Mn) Trend Analysis By Industry Taxonomy, 2018 to 2022 9.3. Industry Value (US$ Mn) Forecast By Industry Taxonomy, 2023 to 2033 9.3.1. By Form 9.3.2. By Application 9.4. Industry Attractiveness Analysis 9.4.1. By Form 9.4.2. By Application 10. Canada Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 10.1. Introduction / Key Findings 10.2. Historical Industry Size (US$ Mn) Trend Analysis By Industry Taxonomy, 2018 to 2022 10.3. Current and Future Industry Value (US$ Mn) Analysis and Forecast, 2023 to 2033 10.3.1. By Form 10.3.2. By Application 10.4. Industry Attractiveness Analysis 10.4.1. By Form 10.4.2. By Application 11. Industry Structure Analysis 11.1. Industry Analysis by Tier of Companies 11.2. Industry Concentration 11.3. Industry Share Analysis of Top Players 11.4. Industry Presence Analysis 12. Competition Analysis 12.1. Competition Dashboard 12.2. Competition Benchmarking 12.3. Competition Deep Dive 12.3.1. Chemours 12.3.1.1. Company Overview 12.3.1.2. Source overview 12.3.1.3. SWOT Analysis 12.3.1.4. Key Developments 12.3.2. Solvay 12.3.2.1. Company Overview 12.3.2.2. Source overview 12.3.2.3. SWOT Analysis 12.3.2.4. Key Developments 13. Assumptions and Acronyms Used 14. Research Methodology
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List Of Table
Table 01: North America Industry Value (US$ Mn) Analysis, by Form, 2018 to 2022
Table 02: North America Industry Value (US$ Mn) Analysis, by Form, 2023 to 2033
Table 03: North America Industry Value (US$ Mn) Opportunity Analysis, by Form, 2023 to 2033
Table 04: North America Industry Value (US$ Mn) Analysis, by Application, 2018 to 2022
Table 05: North America Industry Value (US$ Mn) Analysis, by Application, 2023 to 2033
Table 06: North America Industry Value (US$ Mn) Opportunity Analysis, by Application, 2023 to 2033
Table 07: North America Industry Value (US$ Mn) Analysis, by Country, 2018 to 2022
Table 08: North America Industry Value (US$ Mn) Analysis, by Country, 2023 to 2033
Table 09: North America Industry Value (US$ Mn) Opportunity Analysis, by Country, 2023 to 2033
Table 10: United States Industry Value (US$ Mn) Analysis, by Form, 2018 to 2022
Table 11: United States Industry Value (US$ Mn) Analysis, by Form, 2023 to 2033
Table 12: United States Industry Value (US$ Mn) Opportunity Analysis, by Form, 2023 to 2033
Table 13: United States Industry Value (US$ Mn) Analysis, by Application, 2018 to 2022
Table 14: United States Industry Value (US$ Mn) Analysis, by Application, 2023 to 2033
Table 15: United States Industry Value (US$ Mn) Opportunity Analysis, by Application, 2023 to 2033
Table 16: Canada Industry Value (US$ Mn) Analysis, by Form, 2018 to 2022
Table 17: Canada Industry Value (US$ Mn) Analysis, by Form, 2023 to 2033
Table 18: Canada Industry Value (US$ Mn) Opportunity Analysis, by Form, 2023 to 2033
Table 19: Canada Industry Value (US$ Mn) Analysis, by Application, 2018 to 2022
Table 20: Canada Industry Value (US$ Mn) Analysis, by Application, 2023 to 2033
Table 21: Canada Industry Value (US$ Mn) Opportunity Analysis, by Application, 2023 to 2033
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List Of Figures
Figure 01: North America Industry Value (US$ Mn) Historical Analysis, 2018 to 2022
Figure 02: North America Industry Value (US$ Mn) Forecast and Analysis, 2023 to 2033
Figure 03: North America Industry Value Y-o-Y Growth and Forecast, 2018 to 2033
Figure 04: North America Industry Incremental $ Opportunity, 2023 to 2033
Figure 05: North America Industry Share and BPS Analysis by Form, 2023 & 2033
Figure 06: North America Industry Y-o-Y Growth Projections by Form, 2023 to 2033
Figure 07: North America Industry Attractiveness Analysis by Form, 2023 to 2033
Figure 08: North America Industry Share and BPS Analysis by Application, 2023 & 2033
Figure 09: North America Industry Y-o-Y Growth Projections by Application, 2023 to 2033
Figure 10: North America Industry Attractiveness Analysis by Application, 2023 to 2033
Figure 11: North America Industry Share and BPS Analysis by Country, 2023 & 2033
Figure 12: North America Industry Y-o-Y Growth Projections by Country, 2023 to 2033
Figure 13: North America Industry Attractiveness Analysis by Country, 2023 to 2033
Figure 14: United States Industry Value (US$ Mn) Historical Analysis, 2018 to 2022
Figure 15: United States Industry Value (US$ Mn) Forecast and Analysis, 2023 to 2033
Figure 16: United States Industry Value Y-o-Y Growth and Forecast, 2033
Figure 17: United States Industry Incremental $ Opportunity, 2023 to 2033
Figure 18: United States Industry Share and BPS Analysis by Form, 2023 & 2033
Figure 19: United States Industry Y-o-Y Growth Projections by Form, 2023 to 2033
Figure 20: United States Industry Attractiveness Analysis by Form, 2023 to 2033
Figure 21: United States Industry Share and BPS Analysis by Application, 2023 & 2033
Figure 22: United States Industry Y-o-Y Growth Projections by Application, 2023 to 2033
Figure 23: United States Industry Attractiveness Analysis by Application, 2023 to 2033
Figure 24: Canada Industry Value (US$ Mn) Historical Analysis, 2018 to 2022
Figure 25: Canada Industry Value (US$ Mn) Forecast and Analysis, 2023 to 2033
Figure 26: Canada Industry Value Y-o-Y Growth and Forecast, 2018 to 2033
Figure 27: Canada Industry Incremental $ Opportunity, 2023 to 2033
Figure 28: Canada Industry Share and BPS Analysis by Form, 2023 & 2033
Figure 29: Canada Industry Y-o-Y Growth Projections by Form, 2023 to 2033
Figure 30: Canada Industry Attractiveness Analysis by Form, 2023 to 2033
Figure 31: Canada Industry Share and BPS Analysis by Application, 2023 & 2033
Figure 32: Canada Industry Y-o-Y Growth Projections by Application, 2023 to 2033
Figure 33: Canada Industry Attractiveness Analysis by Application, 2023 to 2033
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How big is the demand for Nafion in North America?
Nafion demand in North America stands at a market value of US$ 197.1 million in 2023.
What is the projected sales revenue for 2033?
Sales of Nafion are forecasted to reach US$ 337 million by 2033-end.
At what pace will the demand for Nafion rise in the region?
Sales of Nafion in North America are set to increase at 5.5% CAGR from 2023 to 2033.
What is Nafion mostly used for?
Nafion is extensively used in chemical processing and energy applications.
How fast will the sales of Nafion rise in the United States?
Nafion demand in the United States is forecasted to rise at 5.5% CAGR over the next ten years.
Who are the prime Nafion manufacturers?
Chemours and Solvay are renowned Nafion companies in the North American region.
Nafion Industry Analysis in North America