Cost-efficient Ion Exchange Membrane Technologies Likely to Revive Market Growth Post COVID-19 Pandemic
The sudden outbreak of the COVID-19 (coronavirus) has exposed the vulnerabilities of several end markets. Hence, companies are treating the life-threatening virus as a wake-up call to streamline their business activities to improve the quality of life of individuals. With the help of extensive studies, companies are increasing the applicability of ion exchange membranes in various end-use cases such as wastewater treatment, desalination, and electrodialysis, among others. Though companies in the ion exchange membrane market are not directly contributing toward the betterment of the society amidst the COVID-19 crisis, stakeholders are using this period as an opportunity to review the strategies for business planning and expansion.
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Since most stakeholders in the ion exchange membrane market are spending their time in home isolation, companies are capitalizing on the halt in business activities to come up with investment strategies in innovative technologies. They are increasing focus in cost-efficient ion exchange membrane technologies that are capable of reviving market growth after the end of the COVID-19 pandemic.
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AEM Fuel Cells Gain Prominence in Ion Exchange Membrane Market
Fuel cells have become one of the biggest hot topics in the ion exchange membrane market. Companies in the market landscape are supporting the production of fuel cells by increasing R&D activities associated with anion exchange membranes (AEMs). As such, the revenue of AEMs is projected for exponential growth in the ion exchange membrane market, where the global value is estimated to reach ~US$ 1 Bn by the end of 2027. Hence, companies are increasing the applicability of fuel cells to power vehicles and electronic devices such as computers and mobile phones.
AEMs are being highly publicized to improve the efficiency of petrol engines in vehicles. AEM fuel cells are replacing proton exchange membranes (PEMs) in the ion exchange membrane market, owing to the former’s advantage of operating under alkaline or basic conditions. Thus, advantageous attributes of AEMs are being highly preferred by companies who are achieving mass production of AEM fuel cells.
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Alkaline Metal-air Batteries Help Stabilize Electrical Grids in Energy Sectors
Today, wind and solar are one of the fastest-growing energy sources in the world. Gradual depletion of fossil fuels has triggered the demand for renewable energy alternatives in various energy sectors. However, fluctuating energy outputs of renewable energy solutions pose as a barrier for growth of the ion exchange membrane market. This explains why the market for ion exchange membranes is estimated to progress at a sluggish CAGR of 3.5%. Hence, manufacturers are innovating through alkaline metal-air batteries integrated with AEMs to improve stability of electrical grids.
Cation exchange membranes and AEMs are acquiring prominence in zinc-air battery applications. As such, cation exchange membranes are predicted to dictate the second-highest revenue among all charge types in the market landscape. Various advantages of AEMs such as minimizing zincate ion permeation toward the air electrode are generating incremental opportunities for companies in the ion exchange membrane market. Apart from zinc-air batteries, manufacturers are increasing the applicability of cation exchange membranes and AEMs in vanadium redox flow batteries.
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