December 16, 2021 08:40 ET | Source: CMI CMI

SEATTLE, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The global gas diffusion layer market was valued at US$ 444.6 million in 2020 and is expected to exhibit a CAGR of 28.3% during the forecast period (2021-2028).

Key Trends and Analysis of the Global Gas Diffusion Layer Market:

Surging adoption of fuel cell operated cars represent one of the key factors positively influencing the utilization of gas diffusion layer in the automotive industry. The fuel cell-operated cars consume hydrogen and thus, assist in reducing the carbon footprints across the globe. The only waste produced by the fuel cells is water, which is further discharged from the stream. Therefore, fuel cells are being considered as the most environmentally friendly future technology across the energy sector. Thus, majority of the key players manufacturing gas diffusion layers and other fuel cell components have started collaborating with various automotive giants for widening sales of their products. For instance, in April 2018, one of the prominent European manufacturers of fuel cell components named the SGL Group collaborated with the Hyundai Motor Group. Moreover, according to this collaboration, the SGL Group will deliver Sigracet gas diffusion layers for the fuel cell to Hyundai Motor Company for its new Nexo model.

Request Sample copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/4819

The global gas diffusion layer market is expected to exhibit a CAGR of 28.3% over the forecast period (2021-2028). The gas diffusion layer is expected to grow at a significant rate due to promotional activities undertaken by statutory governing bodies. The gas diffusion layers form an integral part of fuel cells. Shifting inclination towards generation of clean energy is augmenting the demand for fuel cells across the globe. For instance, as per the report by the U.S. Department of Energy Hydrogen and Fuel Cell Technologies Office and Global Perspectives published in September 2020, the global fuel cell power shipments increased from ~800 MW in 2018 to ~1,150 MW in 2019. Moreover, initiatives undertaken by statutory governing bodies for promoting the usage of hydrogen and fuel cells technologies instead of conventional fuels are projected to boost the demand for gas diffusion layers. For instance, the European Commission declared a US$ 1,029.6 Billion economic package for the green deal in 2020.

Among type, carbon paper type sub-segment accounted for the majority of global revenue in 2020. Carbon paper is widely used in the production of electrochemical cells such as redox flow batteries fuel cells, or water splitting cell. Increasing demand for unconventional sources of energy is one of the key factors driving the growth of the segment. Carbon paper layers tend to be thinner and more brittle than carbon cloth gas diffusion layers and is suitable for the applications, where the thin gas diffusion layer is a critical factor. Moreover, owing to the increasing demand for carbon papers for various applications, such as electrode substrates of fuel cell, key manufacturers are expanding their product portfolio of carbon paper.

Major players operating in the global gas diffusion layer market include AvCarb Llc., Caplinq Corporation, Freudenberg Group, Fuel Cells Etc., Mitsubishi Chemical Corporation, Mott Corporation, SGL Carbon, Technical Fibre Products, Toray Industries, Inc., and GKD Gebr. Kufferath AG.

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. For instance, in January 2018, Freudenberg Groups Sealing Technologies, a multinational family-owned company that manufactures housewares and cleaning products, acquired key assets of the Munich-based fuel cell manufacturer Elcore and its sister firm Elcomax. This acquisition helped Freudenberg to establish their strong presence across entire Europe and Asia Pacific.

Buy-Now this Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/4819

Drill Bits for Oil & Gas Industry Application Market, By Product (Roller cone bits, Milled-tooth bits, Tungsten carbide inserts (insert bits), Fixed cutter bits, Polycrystalline diamond bits (PDC) and Natural diamond bits), By Region (North America, Europe, Asia-PacificRoW) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

LNG as a Bunker Fuel Market, by Vessel Type (Offshore Tugs & Services, Ferries, Oil & Chemical Tankers, Container Ships, Gas Carriers, General Cargo, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 – 2028

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.