WELLESLEY, Mass., June 19, 2018 (GLOBE NEWSWIRE) — Due to the high potential profits that could be garnered by large corporations, the global market for proton exchange membranes and membrane electrode assemblies for PEM fuel cells is forecast to see major growth within the next five years, according to a new report from BCC Research.
The global market for proton exchange membranes and membrane electrode assemblies for PEM fuel cells was worth $7.7 million during 2017. It is expected to reach a value of $2.6 billion by 2022, indicating a compound annual growth rate (CAGR) of 27.9%, according to .
â€œThe reign of the fluoropolymers PEM continues, but the absolute dominance of the fluoropolymers electrolyte has decreased somewhat,â€ said Donald Saxman, report author and BCC Research analyst. â€œNew materials such as the functionalized hydrocarbon PEM can decrease costs and increase performance and durability in certain applications. These functionalized hydrocarbons decrease metal plate corrosion problems and offer improved conductivity at lower relative humidity. This is proving especially important in transportation PEMFCs.â€
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