Cai Jing Wang·2025-11-19 14:09Core Insights - Sinopec is actively investing in the hydrogen energy sector, particularly through its partnership with Suzhou Korun New Materials Co., Ltd. (Korun New Materials), focusing on the development of perfluorosulfonic acid proton exchange membranes [1][2][3] Group 1: Strategic Partnerships - Sinopec and Korun New Materials have signed a strategic cooperation framework agreement for joint research on perfluorosulfonic acid proton exchange membranes [1] - Sinopec has previously engaged with Korun New Materials, including participation in a hydrogen energy application conference and a supply-demand matching project [2] - Sinopec holds a 6.89% stake in Korun New Materials, making it the largest state-owned shareholder [2] Group 2: Market Potential - The global market for proton exchange membranes is projected to reach 1.56 billion yuan in 2024, with a compound annual growth rate of 50.6% expected until 2030, potentially reaching 18.2 billion yuan [4] - The demand for perfluorosulfonic acid proton exchange membranes is rapidly increasing due to their critical role in hydrogen fuel cells, electrolysis for green hydrogen, and the chlor-alkali industry [4][5] Group 3: Domestic Production and Innovation - Korun New Materials is one of only two companies in China capable of mass-producing perfluorosulfonic acid proton exchange membranes, indicating a significant step towards domestic production [6] - The company has achieved notable advancements in the field, including the development of high-performance ultra-thin composite proton exchange membranes, which have been recognized with a provincial science and technology award [7] - Korun New Materials has established itself as a market leader, being the first in China to achieve mass production of proton exchange membranes for flow batteries, with over 70% of large-scale flow battery projects utilizing its products [8] Group 4: Vision and Goals - Korun New Materials aims to become the world's leading producer of perfluorosulfonic acid proton exchange membranes, aligning with Sinopec's strategic goals in the hydrogen energy sector [9]