Direct Methanol Fuel Cell Market Trends

Growth Drivers

• Growing demand for electricity - The most popular type of methanol fuel cell, which is based on the liquid fuel direct metal fuel cell technology is a power generator that produces electricity by directly converting the chemical energy of methanol and water. It is anticipated that the capacity of the world's electrical power plants will rise by over 60% by 2050.
• Increasing demand for consumer electronics - The increasing need for portable power sources in medical equipment, consumer electronics, and military technology has increased the demand for direct methanol fuel cells.
   
• Presence of alternate fuel cell systems - There are other cost-effective fuel cell systems present in the direct methanol fuel cell market such as solid oxide fuel cells are a class of fuel cells distinguished by the use of a solid oxide material as the electrolyte and are highly efficient electrochemical devices that produce electricity, water, heat, and small amounts of carbon dioxide after converting hydrogen and carbon monoxide from hydrocarbon fuels. 

Challenges

• Presence of alternate fuel cell systems - There are other cost-effective fuel cell systems present in the direct methanol fuel cell market such as solid oxide fuel cells are a class of fuel cells distinguished by the use of a solid oxide material as the electrolyte and are highly efficient electrochemical devices that produce electricity, water, heat, and small amounts of carbon dioxide after converting hydrogen and carbon monoxide from hydrocarbon fuels.
  
  Besides this, the proton exchange membrane fuel cell has electrodes made of platinum and an electrolyte made of an acidic polymer membrane based on water and is considered one of the most promising electrochemical-generating systems for clean and efficient power generation in the twenty-first century. Moreover, alkaline fuel cells were among the first fuel cell types to be thoroughly studied, and NASA has been using them in the Apollo and space shuttle missions since the mid-1960s as they possess the benefit of being less susceptible to fuel contaminants.
• Exorbitant cost of direct methanol fuel cells and high operating expenditures may obstruct its integration
• Lack of standardization in the production of direct methanol fuel cells is estimated to hinder the direct methanol fuel cell market expansion in the projection timeframe