Global Gas Diffusion Layer Market was valued at US$ 510.13 million in 2021, According to Gas Diffusion Layer Market Report, by Type (Carbon Paper Type, Carbon Cloth Type, and Other (Metal Substrates)), by Application (Polymer Electrolyte Fuel Cells, Hydrogen /Oxygen Air Fuel Cells, Direct Methanol Fuel Cells, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
Global gas diffusion layer market was valued at US$ 510.13 Million in 2021. Gas diffusion layer market is expected to register a CAGR of 26.09 % over the forecast period (2022–2030), to reach US$ 3807.5 Million by 2030.
The rising demand for gas diffusion layer in automobile sector is expected to bolster the growth of the gas diffusion layer industry Various automotive giants such as Hyundai and Toyota are investing into polymer electrolyte membrane stack cell technology, to reduce the production costs of fuel cell electric vehicles. Such collaborative efforts by industry players is expected to result in significant cost reduction of polymer electrolyte membrane fuel cells and fuel cell electric vehicles. Thereby, increasing the demand for polymer electrolyte membrane fuel cells across the globe. Direct methanol fuel cells segment accounts for the share of 20.2% in 2020, among application in global gas diffusion layer market. During the past few years direct methanol fuel cells are gaining a significant traction both in industrial engineering and scientific research, owing to various advantages offered by the product such as easy fuel handling, high energy density, and environmental friendliness. However, factors such as high costs, especially derived from the massive use of precious metal catalysts in both their cathodes and anodes is expected to hamper the growth of this segment.
The consequences of COVID-19 pandemic have led to the slowdown of gas diffusion layer production, demand, and trade. The closure of national and international borders had a negative impact on numerous companies' business development strategies. The lockdown had a significant impact on the automotive industry, with manufacturing units shutting down, which had a significant impact on the gas diffusion layer market. Due to the rising prevalence of COVID-19, gas diffusion layer producers have been forced to implement preventive measures at their facilities, including labour and plant controller screening, monitoring, and sanitization. This has increased the plant's operating costs, which has increased the pricing of these high-value-added carbon papers indirectly. The rising power demand is likely to boost fuel cell industry growth in the coming years, resulting in a higher demand for effective gas diffusion layers.
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Browse 50 market data tables* and 40 figures* on "Global Gas Diffusion Layer Market” - Forecast to 2030.
Key Trends and Analysis of the Global Gas Diffusion Layer Market:
- Among regions, North America accounted for the share of 26.4% in 2021in the global gas diffusion layer market. The rising usage of gas diffusion in these applications coupled with the growth of fuel cell industry is expected to increase the market revenue in North America over the forecast period. The gas diffusion layer is one of the most common uses of fuel cell industry. The fuel cells are increasingly being used as backup power source in data centers, hospitals, educational institutions, and other comparable facilities in North America, which is driving demand for gas diffusion layers. In addition, the growing demand for fuel cell-powered electric vehicles in North America is driving the gas diffusion layer market growth in the region.
- Electrochemical carbon dioxide reduction has been considered as a viable alternative of converting one of the major greenhouse gases into useful chemicals. Electrocatalysis method is an innovative process that has attracted considerable attention from researchers as it offers increase penetration of renewables into the fuels and chemicals industries, thereby, helps to close the carbon loop with carbon-neutral electricity sources. It offers various advantages such as a way to handle the growing dependence on fossil fuels.
Key Takeaways of the Global Gas Diffusion Layer Market:
- Among application, hydrogen /oxygen air fuel cells accounts for the highest market share of 38.7% in 2021 in the global gas diffusion layer. Being a carrier of energy, hydrogen fuel cells can be applied in a variety of use cases. Typical applications of fuel cell can be categorized into two major types: stationary power transportation, and other applications including portable power.
- Key players are focusing on strategies such as mergers, acquisitions, and capacity expansions to increase their geographical reach and widen their product portfolio in the global gas diffusion layer market. Moreover, prominent automobile manufacturers have started shifting their inclination from battery-powered vehicles to hydrogen fuel-cell passenger vehicles. For instance, as per the article published on December 5, 2019, by the BMW Group, a German multinational corporate manufacturer of luxury vehicles and motorcycles, the company is preparing a path to mass-market the hydrogen fuel-cell car models by 2030. Thus, such technological advancements undertaken by automobile manufacturers are expected to provide more market opportunities for gas diffusion layer manufacturers over the forecast period.
