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The global fuel cell catalyst market size is expected to grow in the forecast period of 2024-2032 at a CAGR of 24.70%.
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The increasing application of hydrogen fuel cells with platinum based catalysts, owing to its efficiency and ability to withstand acidic conditions inside the cell, is driving the segment’s growth. In addition, platinum alloys are stable and exhibit poisoning resistance, which makes them an ideal catalyst for hydrogen fuel cell applications.
Over the forecast period, the increase in demand for hydrogen fuel cells for various applications is anticipated to propel the requirement of platinum based catalysts. Leading applications are warehouse logistics, backup power generation, and mobile power generation, among others, However, high cost of platinum can limit its use in fuel cells in the coming years.
The fuel cell catalyst market in the Middle East and Africa region is being driven by the comparatively high availability of platinum in countries like South Africa. The increase in demand for hydrogen fuel cells, owing to the acceptance of hydrogen as a clean fuel, is anticipated to invigorate the market in the forecast period.
The increasing demand for electricity in emerging economies such as Saudi Arabia, is furthering the demand for fuel cell catalysts. Meanwhile, the flourishing manufacturing sector in Africa, aimed towards fuelling the economic growth and increasing digitalisation, is likely to provide impetus to the market in the coming years.
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A fuel cell catalyst is a crucial component of a fuel cell as it facilitates the reaction between hydrogen and oxygen to produce water and electricity. The catalyst is rough and porous, and splits hydrogen into electrons and protons. Moreover, catalysts bolster the reaction in a fuel cell in order to increase the productivity and increase the efficiency of the cell.
Based on type, the market can be segmented into:
By application, the market has been divided into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The increasing deployment of fuel cells in delivery vehicles such as buses, trains, and trucks, is driving the fuel cell catalyst market growth. In addition to this, the thriving transportation industry in the emerging economies is propelling the demand for fuel cell catalysts.
Over the forecast period, there is expected to be changing customer preferences towards fuel cell vehicles instead of traditional gasoline powered vehicles, owing to the reduced emission of carbon. This is likely to boost the application of fuel cells in passenger and commercial cars, and accelerate the demand for fuel cell catalysts.
The market is anticipated to be aided by the technological advancements in the military and defence industry which include the induction of modern military vehicles driven by fuel cells, such as unmanned aerial vehicles (UAV) and stealth submarines. Furthermore, the increasing application of fuel cells in the consumer electronics such as smartphones and laptops, is anticipated to catapult the production of fuel cell catalysts.
The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Opportunities and Challenges in the Market
8 Global Fuel Cell Catalyst Market Analysis
8.1 Key Industry Highlights
8.2 Global Fuel Cell Catalyst Historical Market (2018-2023)
8.3 Global Fuel Cell Catalyst Market Forecast (2024-2032)
8.4 Global Fuel Cell Catalyst Market by Type
8.4.1 Platinum Based
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Platinum Ruthenium Alloy
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Fuel Cell Catalyst Market by Application
8.5.1 Methanol Fuel Cell Catalyst
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Hydrogen Fuel Cell Catalyst
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Reformate Fuel Cell Catalyst
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Fuel Cell Catalyst Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Fuel Cell Catalyst Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Fuel Cell Catalyst Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Fuel Cell Catalyst Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Fuel Cell Catalyst Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Fuel Cell Catalyst Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Umicore
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Tanaka Holdings Co., Ltd
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Clariant Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Johnson Matthey
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Fuel Cell Catalyst Market: Key Industry Highlights, 2018 and 2032
2. Global Fuel Cell Catalyst Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Fuel Cell Catalyst Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Fuel Cell Catalyst Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Fuel Cell Catalyst Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Fuel Cell Catalyst Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Fuel Cell Catalyst Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Fuel Cell Catalyst Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Fuel Cell Catalyst Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Fuel Cell Catalyst Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Fuel Cell Catalyst Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Fuel Cell Catalyst Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Fuel Cell Catalyst Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Fuel Cell Catalyst Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Fuel Cell Catalyst Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Fuel Cell Catalyst Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Fuel Cell Catalyst Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Fuel Cell Catalyst Market Structure
The market is estimated to grow at a CAGR of 24.70% between 2024 and 2032.
The major regional markets for fuel cell catalysts are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Technological advancements in the military and defence sector owing to the rapid induction of submarines and UAVs are likely to be the key trends in the market.
The major drivers of the market include the increasing demand for fuel cells in military equipment and consumer electronics, increasing transition from traditional vehicles towards fuel cell vehicles, and rapid urbanisation.
Platinum based and platinum ruthenium alloy, among others are the are the different types based on which the market has been segmented.
Methanol fuel cell catalyst, reformate fuel cell catalyst, and hydrogen fuel cell catalyst, among others is the segmentation of market based on application.
The major players in the industry are Umicore, Tanaka Holdings Co., Ltd, Clariant Ltd., and Johnson Matthey, among others.
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