Nafion Industry Analysis in South Asia & Oceania

Nafion Sales Outlook for South Asia & Oceania (2023 to 2033)

In South Asia & Oceania, Nafion sales are pegged at US$ 39.8 million in 2023 and are set to increase to US$ 61.3 million by the end of 2033. As per this latest study by Fact.MR, from 2023 to 2033, sales of Nafion in the region are forecasted to increase at 4.4% CAGR.

Nafion is also known as perfluorosulfonic acid polymer or perfluorinated sulfonic acid (PFSA), specially designed to be used as a Nafion membrane in fuel cell applications. The South Asia & Oceania region is projected to be one of the most untapped regions in the world for Nafion demand. With East Asia holding a dominant stance in terms of Nafion sales revenue, South Asia and Oceania is forecasted to have a hard time consolidating a lucrative marketplace for Nafion companies in the future.

Growing focus on sustainability, rising demand for fuel cells, and increasing chemical manufacturing activity are some key prospects that could allow Nafion vendors to generate a good amount of cash and set up their business in the South Asia & Oceania region over the next ten years.

• Nafion volume demand in South Asia & Oceania is projected to reach 297.9 tons by the end of 2033.

Report Attributes	Details
Nafion Sales in South Asia & Oceania (2023)	US$ 39.8 Million
Projected Sales (2033F)	US$ 61.3 Million
Demand Growth (2023 to 2033)	4.4% CAGR
Sales in Thailand (2033F)	US$ 6.3 Million
Demand Volume in Malaysia (2023)	31.4 Tons
Sales in Rest of SAO (2033)	US$ 5 Million
Key Companies Profiled	The Chemours Company Solvay SA Dongyue Group Ltd. Merck Group AGC Inc.

What Opportunity Do Nafion Companies Have in South Asia & Oceania?

“Surging Demand for Electric Vehicles Unlocking New Sales Opportunities”

Sales of electric vehicles in the South Asia & Oceania region are increasing rapidly and this trend is opening up new avenues of opportunities for Nafion vendors going forward. Growing demand for efficient fuel cells to build electric vehicles with better range is also forecasted to favor shipments of Nafion materials in this region 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

India is projected to singlehandedly spearhead Nafion demand in the South Asia & Oceania region across the study period while countries such as Australia, Thailand, and Indonesia increase their contribution going forward.

Is India an Investment-worthy Market for Nafion Companies?

“Increasing Adoption of Fuel Cells to Drive Product Demand Growth”

Attribute	India
Market Value (2023E)	US$ 13.8 Million
Growth Rate (2023 to 2033)	4.7% CAGR
Projected Value (2033F)	US$ 22 Million

Sales of electric vehicles (EVs) in India are flourishing and the world’s most populated country is projected to emerge as a highly remunerative space for all types of alternative fuel vehicles in the future. Surging demand for fuel cells for EV manufacturing is projected to act as a major catalyst for Nafion demand in India across the study period as it is used to make fuel cell membranes. Besides this, supportive government initiatives to promote manufacturing activity in different industry verticals are also slated to act in favor of Nafion manufacturers operating in the East Asian region.

Why Should Nafion Manufacturers Focus on Australia?

“Growing Focus on Renewable Energy Production and Hydrogen Production”

Attribute	Australia & New Zealand
Market Value (2023E)	US$ 7.4 Million
Growth Rate (2023 to 2033)	4.5% CAGR
Projected Value (2033F)	US$ 11.6 Million

Nafion plays a crucial role in sustainable hydrogen production and efforts of the Australian government to position the country as a major exporter of hydrogen by 2030 are creating an opportune scenario for Nafion distributors in the Oceania region.

• In June 2023, Australian Energy Minister Chris Bowen announced the country’s commitment to build a renewable hydrogen plant in Victoria State with US$ 34 million as the country focuses on reducing its greenhouse emissions.

Increasing output of the chemical industry in Australia is also projected to bolster demand for Nafion in the long run. Rising demand for fuel cells for electric vehicles is also projected to create a highly lucrative opportunity for Nafion companies in Australia by the end of 2033.

Category-wise Insights

Nafion providers in South Asia & Oceania are focusing on supplying Nafion membranes for energy applications to get the best returns on their investments.

What’s Driving Preference for Nafion Membranes?

“High Use in Fuel Cells and Energy Storage Applications”

Attribute	Membrane
Segment Value (2023E)	US$ 25.5 Million
Growth Rate (2023 to 2033)	4.6% CAGR
Projected Value (2033F)	US$ 40.2 Million

Nafion membranes are extensively used in the manufacturing of fuel cells and this is why they account for a dominant share in South Asia & Oceania in terms of volume as well as value. The growing popularity of electric vehicles and rising focus on sustainability are slated to promulgate sales of Nafion membranes in this region over the next ten years.

Which Application Leads Nafion Demand?

“Energy Applications to Spearhead Revenue Generation”

Attribute	Energy
Segment Value (2023E)	US$ 22.7 Million
Growth Rate (2023 to 2033)	4.6% CAGR
Projected Value (2033F)	US$ 35.7 Million

Just like the rest of the world, countries in the South Asia & Oceania region are also focusing on using renewable energy resources to power their economies. Nafion has proven highly efficient in terms of energy consumption and energy storage, which is why it is being utilized in different energy applications to optimize renewable energy grids.

Analyst’s Opinion

The South Asia & Oceania region is home to some of the most lucrative opportunities a Nafion supplier can find in the world, but penetrating this region is a tough task as East Asia holds a dominant stance in the global landscape. Nafion companies can succeed in the South Asia & Oceania region if they come up with specific and targeted strategies to take advantage of opportunities in countries such as India, Australia, Thailand, and Indonesia.

Segmentation of Nafion Study in South Asia & Oceania

• 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 :

  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Australia & New Zealand
  • Rest of SAO