Rising demand of environmentally friendly technologies is driving growth of Hydrogen Storage Alloys Market
Hydrogen storage alloys are metallic materials which is able to reversibly absorb and release significant amounts of hydrogen from the gas phase or electrochemically. The hydrogen storage allow is the most vulnerable component of Ni- MH cell which renders susceptibility to corrosion in the strong alkaline environment. Hydrogen storage alloys are pulverized during charge & discharge processes due to repeated lattice expansion and shrinkage results in hydrogen absorption and desorption. The hydrogen storage alloys are acts as a good hydrogen storage material due to its properties such as low cost, high safety and non- greenhouse gas.
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MARKET DYNAMIC- HYDROGEN STORAGE ALLOYS MARKET
The artificial tears market has been seeing tremendous growth from the past few decades. The primary growth factors behind the market growth are rising demand of environmentally friendly technologies for the automotive industry and increasing demand for electronic products. Likewise, technological advancements and growth in the electronic industry will leads the market growth in upcoming years. Nevertheless, high cost and complex nature associated with hydrogen energy storage systems is major restraining factor that could hamper the growth of the market.?
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COVID 19 IMPACT ON HYDROGEN STORAGE ALLOYS MARKET REPORT?
The COVID 19 outbreak leads to ill effect in various market. For safety purpose government has announced lockdown which will affect the production and supply in many industries over the world. Due to this pandemic status of the hydrogen generation industry drastically changes. This creates economic crisis may lead to decrease in the adoption and commercialization of clean hydrogen energy. Due to this capacity of the hydrogen sector to function smoothly is disturbed. Hence due to this scenario COVID 19 negatively impact the growth of hydrogen storage alloys market.
HYDROGEN STORAGE ALLOYS MARKET KEY PLAYERS
The major key players of market includes JMC, Merck KGaA, Ajax Tocco Magnethermic Corporation, Botou Santoku Battery Materials Co. Ltd, Santoku Corporation, American Elements, AMG Titanium Alloys & Coatings LLC, Jiangmen Kanhoo Industry Co. Ltd, Xiamen Tungsten Co. Ltd, CHOU DENKI KOGYO, Mitsui, H bank Technology, Magnethermic Corporation and Lab Tech.
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