Direct Methanol Fuel Cell Market Share and Forecast till 2031 (2023)

FAQs

What is the potential of direct methanol fuel cell? ›

The potential efficiency (ɛ_f) of a DMFC for an operational cell e.m.f. (E) of 0.5 V is about 40% and the specific energy (W) is − ΔG°/3600 × M = (702 × 10³)/(3600 × 0.032) = 6.1 kWh kg^{− 1}.

The global fuel cell market in terms of revenue was estimated to worth $2.9 billion in 2022 and is poised to reach $9.1 billion by 2027, growing at a CAGR of 26.0 % from 2022 to 2027. The growing demand for clean power generation with less or no emission is the primary factors driving market growth.

Polymer Electrolyte Membrane (PEM) Fuel Cells Are Highest Revenue Generators in Market. In the global fuel cell market, PEM fuel cells held about 60% share, in terms of revenue generation, in 2021.

RMFC systems offer advantages over direct methanol fuel cell (DMFC) systems including higher efficiency, smaller cell stacks, less requirement on methanol purity, no water management, better operation at low temperatures, and storage at sub-zero temperatures because methanol is a liquid from -97.0 °C to 64.7 °C (-142.6 ...

Polygeneration, the ability to scale efficiently and cost-effectively, versatility in so many products and applications including transportation fuels, its biodegradability and its 100-year history of safe production, use and handling is what makes methanol future-proof.

The worldwide annual production of methanol nearly doubled over the last decade to reach about 98m metric tonnes (MMT) in 2019 and is expected to grow to more than 120 MMT by 2025 and 500 MMT by 2050.

The global fuel cell market size was estimated at USD 6.3 billion in 2022 and is expected to reach USD 7.35 billion in 2023. What is the fuel cell market growth? b. The global fuel cell market is expected to grow at a compound annual growth rate of 19.9% from 2023 to 2030 to reach USD 26.1 billion by 2030.

Companies that are leading the hydrogen and fuel cell space include DuPont de Nemours, Inc. (NYSE:DD), Air Products & Chemicals, Inc. (NYSE:APD), Bloom Energy Corporation (NYSE:BE), and Plug Power, Inc. (NASDAQ:PLUG).

Alkaline Fuel Cells

Operating at 60-70ºC (140-158ºF), AFCs are among the most efficient type of fuel cells, reaching up to 60% efficiency and up to 87% combined heat and power.

Who is the largest manufacturer of fuel cells? ›

Polymer Electrolyte Membrane Fuel Cells

Hydrogen is typically used as the fuel. These cells operate at relatively low temperatures and can quickly vary their output to meet shifting power demands. PEM fuel cells are the best candidates for powering automobiles. They can also be used for stationary power production.

SFC Energy AG is a leading fuel cell company specialising in direct methanol and hydrogen fuel cells for stationary and mobile hybrid power applications and a profitable fuel cell manufacturer on a sustainable basis. The company's products have been MIL-STD tested and are built to endure the rigours of field operation.

Each fuel cartridge holds five litres of methanol, which will provide up to five days of constant use when operating with the 210 EFOY model. Each cartridge retails for about $90 and is currently available in the following markets: Vancouver, Victoria, Nanaimo, Campbell River and Port Hardy.

Methanex Corporation, Mitsubishi Gas Chemical Company, Inc., Zagros Petrochemical Company, Celanese Corporation, and Proman, among others, are the major players in the global market for methanol.

The price of methanol in 2050

BECCS is generally deployed where biomass is used for energy, while DAC technology allows it to be deployed in deserts where hydrogen will be cheaper. The costs of e-methanol are projected to decline significantly and be on par with biomethanol, ranging from 250 to 630 USD/t by 2050.

The Asia-Pacific dominated the worldwide market with a significant market share. It is projected to maintain its dominance during the forecast period. China alone is the largest producer and consumer of over 60% of the world's methanol, making the country the worldwide leader.

Follow. Westford USA, April 17, 2023 (GLOBE NEWSWIRE) -- Over the forecast period (2023-2030), the Methanol market is expected to grow at a CAGR of 3.4%, reaching a value of USD 47.4 billion by 2030.

Methanol is used large-scale production of petrochemicals. The growth in petrochemicals demand in APAC is driving the methanol market. The use of petrochemicals in end-use industries such as automotive and construction is the main driving force for the methanol market.

Is methanol in high demand? ›

Methanol Market Outlook

The global methanol market is expected to grow significantly in the coming years due to increasing demand from Asia-Pacific countries such as China and India. In addition, the use of methanol as a transportation fuel is expected to increase in Europe and North America.

Stock Price Forecast

The 8 analysts offering 12-month price forecasts for Fuelcell Energy Inc have a median target of 3.10, with a high estimate of 4.00 and a low estimate of 2.00. The median estimate represents a +44.86% increase from the last price of 2.14.

Historical index on US Stock Market : C "Should I invest in Fuelcell Energy stock?" "Should I trade "FCEL" stock today?" According to our live Forecast System, Fuelcell Energy Inc stock is an outstanding long-term (1-year) investment*.

The green hydrogen market is expected to record a valuation of USD 119 billion by 2030, according to a new research report by Global Market Insights Inc.

The financial health and growth prospects of FCEL, demonstrate its potential to underperform the market. It currently has a Growth Score of F. Recent price changes and earnings estimate revisions indicate this would be a good stock for momentum investors with a Momentum Score of A.

The main competitors of FuelCell Energy include Bloom Energy (BE), NOW (DNOW), Nabors Industries (NBR), Helix Energy Solutions Group (HLX), Hess Midstream (HESM), Talos Energy (TALO), Genesis Energy (GEL), Montauk Renewables (MNTK), Maxeon Solar Technologies (MAXN), and FREYR Battery (FREY).

FuelCell Energy has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 5 hold ratings, and no sell ratings.

Hydrogen is expected to play an important role in achieving EU objectives to reduce greenhouse gas emissions by a minimum of 55% by 2030 and reach net zero emissions by 2050. We are facilitating the large-scale deployment of hydrogen to contribute to climate neutrality.

The global renewable energy market is expected to continue its upward growth over the next years. According to the Group Next Move Strategy Consulting, the market will reach over two trillion U.S. dollars by 2030.

In total, by 2030, Rethink Energy conservatively expects the total cost of green hydrogen to sit at $1.54 per kilogram, split by electricity ($0.90 per kg), capex ($0.27 per kg), water ($0.22 per kg), and opex ($0.14 per kg). Harry Morgan is a hydrogen analyst at analyst group Rethink Energy.

Can fuel cells run on methanol? ›

Methanol is an excellent hydrogen carrier fuel, packing more hydrogen in this simple alcohol molecule than can be found in hydrogen that's been compressed (350-700 bar) or liquified (-253˚C). Methanol can be “reformed” on-site at a fueling station to generate hydrogen for fuel cell cars.

Cost of Raw Materials

Precious metals such as platinum and iridium are typically required as catalysts in fuel cells and some types of water electrolyser, which means that the initial cost of fuel cells (and electrolysers) can be high. This high cost has deterred some from investing in hydrogen fuel cell technology.

The Global Leader in Fuel Cell Technology | FuelCell Energy.

Hydrogen Fuel cell vehicles

Canada is home to the world's first standardized automotive fuel cell stack production facility in Vancouver, created as a joint venture among Daimler, Ford and Ballard Power Systems.

Honda has been one of the leaders in fuel cell vehicles over the years. It's a system that converts pressurized hydrogen into electricity through a chemical process, producing no emissions.

Expensive to manufacture due the high cost of catalysts (platinum) Lack of infrastructure to support the distribution of hydrogen. A lot of the currently available fuel cell technology is in the prototype stage and not yet validated.

When used to power highly efficient fuel cell electric vehicles, hydrogen holds the promise of helping strengthen national energy security, conserve fuel, and diversify our transportation energy options for a more resilient system.

Whilst the thermodynamic theoretical energy conversion efficiency of a DMFC is 97%; the currently achievable energy conversion efficiency for operational cells attains 30% – 40%. There is intensive research on promising approaches to increase the operational efficiency.

What is the advantage of direct methanol fuel cell? ›

The major advantages of DMFC are emission-free, methanol's low cost, facile shipping, low operating temperatures, high energy density, and applicability in various potential applications from small electronic devices such as mobile phones, laptops, and digital cameras [1,2].

Methanol is toxic, water miscible, and very corrosive substance. Because of these features, more specific safety precautions are needed when compared to the petrol during the transportation and use. Its negative properties and high emissions prevent methanol from being a highly preferred fuel.

Methanex is the world's largest producer and supplier of methanol to major international markets in North America, Asia Pacific, Europe and Latin America.

China is the global leader in methanol use and has recently expanded methanol production capacity.

Saudi Arabia is the world's leading exporter country of methanol, also know as methyl alcohol. In 2020, the country exported over 4.5 million metric tons of the compound, with a value of nearly 949 million U.S. dollars.

Looking forward, we estimate it to trade at 2809.11 in 12 months time.

Hydrogen ignites easier than methanol, but it needs to be fully renewable to become totally CO₂ neutral. Methanol needs three parameters to have good combustion with reasonable efficiency: High amount of heat from the air intake manifold. Proper injection, good atomisation.

The energy density of hydrogen is 520 Wh/L (in case of 2,000 psi gas cylinder). However, methanol has 4,817 Wh/L of energy density Since space and weight are at a premium in most transportation, DMFC is attractive for transportation applications.

The methanol fuel cell provides a cost-efficient and long range of up to 1,000 km that surpasses fossil-based combustion engines. It provides a flexible and convenient alternative when battery electrification is not possible or feasible.

The ideal standard potential of an H2/O2 fuel cell (E0) is 1.229 V with liquid water as the product and 1.18 V for water with gaseous product. This value is normally referred to as the oxidation potential of H2.

How efficient are direct alcohol fuel cells? ›

DAFCs possess a wide spectrum of advantages as compared with proton-exchange membrane fuel cells (PEMFCs) that use hydrogen as the fuel. As shown in Table 1, the theoretical energy conversion efficiency of all DAFCs exceeds 90%, which is higher than that of PEMFCs (83%).

The DMFC has several advantages as a promising energy source over HFC due to its ease of fuel delivery, storage, low cost of methanol, operation at low temperature and pressure, lack of humidification requirements, reduced design complexity, and high power density [26].

Efficiency for methanol synthesis of hydrogen and carbon dioxide currently is 79 to 80%. Thus the efficiency for production of methanol from electricity and carbon dioxide is about 59 to 78%.

The global market of methanol was valued at over 37 billion U.S. dollars in 2021. This figure is forecast to experience continual growth over the next decade, reaching a value of nearly 62 billion U.S. dollars by 2030. This would represent an increase of roughly 67 percent in comparison to 2021.

Whilst the thermodynamic theoretical energy conversion efficiency of a DMFC is 97%; the currently achievable energy conversion efficiency for operational cells attains 30% – 40%. There is intensive research on promising approaches to increase the operational efficiency.

So, PEM fuel cells' efficiency comes out a clear winner over internal combustion engines. That said, lithium ion batteries are actually 90% efficient and lead acid batteries produce efficiency comparable to PEM fuel cells at a level of 50%.

Expensive to manufacture due the high cost of catalysts (platinum) Lack of infrastructure to support the distribution of hydrogen. A lot of the currently available fuel cell technology is in the prototype stage and not yet validated. Hydrogen is expensive to produce and not widely available.

Lower production costs—Methanol is cheap to produce relative to other alternative fuels. Improved safety—Methanol has a lower risk of flammability compared to gasoline. Increased energy security—Methanol can be manufactured from a variety of domestic carbon-based feedstocks, such as biomass, natural gas, and coal.

Advantage: High Energy Density Improves Productivity

Hydrogen fuel cells do not produce any CO2 emissions during operation, even if their production is not necessarily carbon-free.