Hydrogen's Potential as a New Market for Platinum
The global shift toward battery-electric vehicles is reducing platinum demand from automotive autocatalysts. A recent discussion on GlobalData’s Energy Technology podcast explored whether the hydrogen sector can compensate by absorbing lost volumes. While hydrogen applications are expected to grow, they remain small in scale compared to traditional uses. Platinum's role in proton-exchange membrane (PEM) fuel cells and electrolysers is critical due to its unique properties that enable efficient chemical reactions under demanding conditions. However, the sector faces challenges including high infrastructure costs and slow commercial adoption despite significant investment. Experts note platinum’s resilience makes it difficult to substitute with other materials. The World Platinum Investment Council forecasts an 8% increase in hydrogen-related demand for 2026 but highlights that this remains a small portion of total annual platinum market size, currently around 7.7 million ounces.
Topics: demand forecasting electric vehicles hydrogen economy platinum