Fuel Cell Bipolar Plate Market to Advance at CAGR of 57.5% during Forecast Period, TMR Study

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Oct 25, 2022, 10:30 ET

R&D in bipolar plates for PEM fuel cells help products open up new possibilities in clean energy tech; companies in fuel cell bipolar plate market aim at compact and light plates to fuel sales
Stakeholders witnessing growing lucrative avenues from commercialization of high-performance bipolar plates; Asia Pacific presents massive profitable avenues to market players

WILMINGTON, Del., Oct. 25, 2022 /PRNewswire/ -- Expanding fuel cell application in the automotive industry has enriched the streams of revenue of fuel cell bipolar plate market. Extensive R&D on cost and performance aspects of metals used in bipolar plates and industry's search for better composite materials will broaden the future market outlook for fuel cell bipolar plate. Advancing at CAGR of 57.5% during 2020–2030, the revenues in the fuel cell bipolar plate market are forecast to reach worth of US$ 4.4 Bn by 2030.

The authors of an in-depth TMR study on market assert that graphite-based fuel cell bipolar plates present the largest opportunity for fuel cell bipolar plate market during the forecast period. However, recent focus on lowering the manufacturing costs of bipolar plates has led to the need for alternate composite materials especially in meeting the requirements of the automobile industry. Advancements in manufacturing technologies and fabrication processes are boosting the prospects of the fuel cell bipolar plate market.

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The commercialization of metal plates is limited by sustainability and durability concerns. Hence, manufacturers in the fuel cell bipolar plate market have grown their efforts on finding alternate materials. In this regard, nanocomposites and carbon-based composites have generated massive interest among industry stakeholders in the fuel cell bipolar plate market. Additionally, the trend has stepped up investments in stainless steel and nickel materials.

Key Findings of Fuel Cell Bipolar Plate Market Study

Growing Commercialization of PEM Fuel Cells Propelling Revenues: Proton exchange membrane (PEM) fuel cells are one of the key market segments in fuel cell bipolar plate. There are multiple technical challenges for wider commercialization of fuel cells across applications, which has underpinned the need for products innovations in the fuel cell bipolar plate market. This has steered R&D investment on finding suitable bipolar plates for fuel cells, particularly those characterized with good thermal and electrical conductivity, remarkable corrosion resistance, reducing permeability to hydrogen and oxygen, and superior mechanical properties. This is spurring the use of polymer electrolyte membrane fuel cells (PEMFC) in automotive applications, such as for meeting the needs of compact vehicle drive systems.
Companies Capture Enormous Value by Unveiling New Designs and Advanced Materials: Need for improving the performance characteristics of bipolar plates has led to the introduction of new designs in the fuel cell bipolar plate market. Furthermore, manufacturers in the fuel cell bipolar plate market are keen on incorporating composite materials that can optimize manufacturing costs, in addition to other performance attributes of the final products.

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Fuel Cell Bipolar Plate Market: Key Drivers

Governments in several countries around the world have bolstered their support on green energy projects such as offering subsidies for the purchase of fuel cell-operated vehicles. This has propelled advances in hydrogen technology and has driven the evolution of the fuel cell bipolar plate market.
Stringent implementation of regulations on emission of greenhouse gases has catalyzed investments in the production of fuel cells. This has been fueling the prospects of the fuel cell bipolar plate market.

Fuel Cell Bipolar Plate Market: Regional Growth Dynamics

Asia Pacific is a potentially lucrative region in the fuel cell bipolar plate market. Economies in the region have witnessed massive policy impetus for growing R&D on fuel cells, thus expanding the outlook of the regional market. Demand for high-performance bipolar plates for PEM fuel cells is expected to create substantial revenue streams during the forecast period. A case in point is implementation of favorable fuel cell vehicle subsidy policy in China.

Fuel Cell Bipolar Plate Market: Key Players

Some of the key players in the fuel cell bipolar plate market are Technical Fibre Products Limited, Veco B.V., Nisshinbo Chemical Inc., Schunk Carbon Technology, Impact Coatings AB, Cell Impact, Cell Impact, Interplex Holdings Pte. Ltd., and POCO.

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Fuel Cell Bipolar Plate Market Segmentation

Material

· Graphite
· Metal
· Carbon Composite Plate

Application

Proton Exchange Membrane Fuel Cells (PEMFC)
Phosphoric Acid Fuel Cells (PAFC)
Molten Carbonate Fuel Cells (MCFC)
Solid Oxide Fuel Cells (SOFC)
Direct Methanol Fuel Cells (DMFC)

Region

North America
Europe
Asia Pacific
Rest of World

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