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A fuel cell is a versatile technology used to convert chemical energy into electrical energy. It consists of two electrodes separated by a solid or liquid electrolyte that carries electrically charged particles between them. A catalyst is often used to speed up the reaction at the electrodes. The electro-catalyst is an integral part of the fuel cell and impact the efficiency, durability, and cost of the cell to a large extent.
Carbon supported platinum or platinum alloys are commonly used as a catalyst for speeding up a chemical reaction in hydrogen fuel cells. Platinum is the only material that can withstand the acidic reaction inside the fuel cell, but it is quite expensive, and this has limited its large scale application of fuel cells.
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But in the recent period, the scientist and researchers are doing extensive research in order to find out an alternative to platinum or to minimize the catalyst cost. A fuel cell has been used extensively across the world for sustainable development which expected to increase the demand for fuel cell catalyst growth.
Fuel cell catalyst market is segmented into type and application. The catalyst used in fuel cells is platinum and platinum ruthenium alloy. It is the most effective catalyst for oxidation and reduction reaction when dispersed evenly increases reactive surface area significantly and provide an ideal catalyst for many electrochemical processes.
Platinum holds the largest share in the market while many emerging catalysts are in the nascent stage. Catalyst is used in various fuel cell application such as hydrogen, methanol, reformate fuel cell, etc. Hydrogen fuel cell emerged as the leading player in the market in terms of its consumption.
Ongoing growth in sustainable development is expected to increase the demand for renewable energy sources, which increase the demand for fuel cell catalyst.
The enormous investment in uplifting the green technology for sustainable development and the adoption of fuel cells in several applications is expected to increase the growth of the fuel cell catalyst growth.
Fuel cell not only helps to minimize pollution but also saves valuable fossil fuels reserves, which further expands the fuel cell catalyst market. The catalyst used in the chemical reaction of fuel cells are highly expensive, and the fuel cell technology is in its nascent stage which retards the growth of the fuel cell catalyst.
The major fuel cell catalyst companies in the world are Umicore, Johnson Matthey, 3M, Heraeus, Haldor Topsoe A/S, Tanaka Holdings Co., Ltd., Huntsman Corporation, De Nora, BASF, Archroma, DyStar, FuelCellsEtc, Clariant, and Pyrochem Catalyst Company.
· Platinum Ruthenium Alloy
· Methanol Fuel Cell Catalyst
· Hydrogen Fuel Cell Catalyst
· Reformate Fuel Cell Catalyst
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
The fuel cell catalyst market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is witnessing an extensive growth in fuel cell market owing to advancement in technology and substantial adoption of fuel cell-powered vehicles. U.S. is engaged in advancing fuel cell technology enabling its parent government bodies such as the U.S. Department of Energy and Environmental Protection Agency (EPA) to carry out extensive research for commercial viability of the fuel cell. Therefore, fuel cell catalyst will experience steady growth in North America. Europe is expected to offer lucrative market growth for fuel cell catalyst due to the high demand for fuel cell in telecom and backup applications. Germany is the leading country in Europe, embracing fuel cell technology followed by the UK in which many organizations, research institutes are involved in R&D and commercializing fuel cell market. This help to boost the fuel cell catalyst market in Europe. The Asia Pacific possesses the high potential for the growth of the fuel cell catalyst due to the high investment to develop a sustainable energy source. China has begun putting its effort into the development of fuel cell electric vehicle and aims to gain significant share in the fuel cell market. Adding to this the fuel cell catalyst market is expected to grow in a positive manner.
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