Membrane Electrode Assembly Market Report Scope & Overview:

The Membrane Electrode Assembly Market size was valued at USD 0.52 billion in 2023 and is expected to grow to USD 2.65 billion by 2031 and grow at a CAGR of 22.4 % over the forecast period of 2024-2031.The market for membrane electrode assemblies is expanding as a result of an increase in the demand for fuel cell systems brought on by growing environmental concerns and strict laws, particularly in Europe and North America, to minimize carbon emissions. However, the expensive price of the catalyst used in membrane electrode assemblies limits market expansion. It is anticipated that technological developments and rising demand from emerging nations for membrane electrode assemblies owing to an increase in energy demand would create significant growth possibilities for market expansion.

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An oxidant is encountered on the cathode side while a fuel (methanol or hydrogen) diffuses through the anode. The electrons that were taken away from the fuel bond with the resultant ions and are received. A catalyst that is present on each side of the membrane allows protons to pass through while separating gases. In this process, the cell potential is preserved while a current from the cell is pulled to produce electricity. Polymer electrolyte membrane (PEM), two gas diffusion layers (GDL), and two catalyst layers make up a standard membrane electrode assembly. Due to its makeup, a membrane electrode assembly with this arrangement is known as a 5-layer membrane electrode assembly.

MARKET DYNAMICS

KEY DRIVERS:  

• Growing initiatives for fuel cell in the automotive industry

• Government initiatives fuel enhanced technological advancements

A practical and essential technology for changing energy systems to ones that are more efficient and emit less carbon dioxide is the use of fuel cells and electrolyzes. However, the accessibility of various resources and technologies has come close to enabling significant national contributions to the advancement of fuel cell technology.

RESTRAIN:

• High cost

• Fuel cell durability issues

The manufacture of the MEA, a crucial part of the fuel cell and electrolyzers where electrochemical processes take place, is correlated with the performance of the stack. Defects, such as greater interfacial resistance between catalyst layers or a break in the catalyst layer during the manufacture of MEAs, are known to exist.

OPPORTUNITY: 

• Technological improvement and increasing demand for membrane electrode assembly

• Advancements in green technology

CHALLENGES:

• Fuel cell durability issues.

• High cost of catalyst utilized

IMPACT OF RUSSIA-UKRAINE WAR

MEA is a critical component used in fuel cells, and its production and supply could potentially be affected by various factors, including geopolitical conflicts, trade disruptions, and economic instability. For example, if the conflict led to disruptions in the supply chain of raw materials or transportation routes used for MEA manufacturing, it could have implications on the availability and cost of MEAs. However, it's essential to consult up-to-date sources and experts in the field to get accurate and current information on any potential impacts of the Russia-Ukraine war on the fuel cell industry and its components like MEAs.

IMPACT OF ONGOING RECESSION

During a recession, there is often a decline in overall economic activity, which can lead to decreased demand for various products and technologies. In the case of MEAs, they are a critical component used in fuel cells, which are commonly used in various applications like automotive, stationary power generation, and portable devices. If demand for these end-products decreases during a recession, it can have a direct impact on the demand for MEAs. During an economic downturn, companies may face financial constraints, making it challenging to secure funding for research and development projects. Investments in fuel cell technology and related components like MEAs may decrease as companies prioritize short-term financial stability over long-term innovation.

KEY MARKET SEGMENTATION

By Component

• Membranes

• Gas Diffusion later (GDL)

• Gaskets

• Others.

By Application

• Proton Exchange Membrane Fuel Cells (PEMFC)

• Direct Methanol Fuel Cells (DMFC)

•  Electrolysers

  •  Alkaline Electrolyser

  • Proton Exchange Membrane Electrolyser

  • Solid Oxide Electrolyser

• Others

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REGIONAL ANALYSIS

The largest market region worldwide is Asia Pacific. In value terms, the area held a 53.4% share. Due to the widespread consideration of fuel cells and renewable energy sources, the market for membrane electrode assemblies is anticipated to grow in the Asia Pacific region as a result of the region's increasing demand for electric cars.

The development of highly energy-efficient cars and the promotion of hydrogen-based transportation are priorities in Europe. combining the market for membrane electrode assemblies. The development and adoption of fuel cell technologies have come under the limelight as a result of numerous government efforts. Take the GAIA project, for instance.

Due to the commercial launch of fuel cell technology and significant expenditures in the research and development program of fuel cell technologies, North America is expected to increase rapidly throughout the projection period.

REGIONAL COVERAGE:

North America

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America

RECENT DEVELOPMENTS

• A new multimillion-pound contract for the delivery of Membrane Electrode Assemblies (MEAs) is signed between Johnson Matthey and SFC Energy AG in January 2021. At least 400,000 Membrane Electrode Assemblies will be provided by |M. The deal will be in effect for more than three years beginning in February 2021.

• 2020 September: At its headquarters plant in Vancouver, Canada, Ballard Power Systems made the decision to increase its manufacturing capacity for the manufacture of membrane electrode assemblies (MEA) by six times. The increased capacity generates 6 million MEAs yearly, or around 1.66 Gigawatts. Ballard's Vancouver facility is now the biggest commercial vehicle fuel cell production unit in operation worldwide thanks to an increase in capacity.   

KEY PLAYERS 

The Major Players are Ballard Power Systems (Canada), Johnson Matthey (U.K.), Danish Power Systems (Denmark), BASF SE (Germany), WL Gore & Associates, Inc. (U.S.), Giner Inc. (U.S.), FuelCellsEtc (U.S.), IRD Fuel Cells (Denmark), Greenerity GmBH (Germany), Plug Power Inc. (U.S.), Hyplat (South Africa), The Chemours Company (U.S.), Sainergy (Georgia) and other players

Johnson Matthey (U.K.)-Company Financial Analysis