WPIC expects up to $300bn of investments in green hydrogen by 2030

23rd March 2023

By: Marleny Arnoldi

Creamer Media Contributing Editor Online


Font size: - +

Hydrogen will play a pivotal role in efforts to reach net zero, and investment, collaboration and the roll-out of supportive government policies are intensifying to achieve this, directly benefiting platinum demand, says the World Platinum Investment Council (WPIC).

The council expects more than $300-billion worth of hydrogen investments to occur through to 2030 and demand for hydrogen to rise by seven times by 2050, with two-thirds of production coming from electrolysis.

Added to this, the WPIC anticipates China will have more than one-million fuel cell electric vehicles (FCEVs) on its roads by 2035 and that one in eight newly registered commercial vehicles globally will be powered by hydrogen fuel cells by 2030.

As 30 countries have developed or are in the process of developing hydrogen plans central to their decarbonisation strategies, the yearly global export market for green hydrogen is also expected to be worth $300-billion by 2050.

Moreover, broad-based commercial adoption of FCEVs could add more than three-million ounces to yearly platinum demand in ten years, the WPIC states.

The council explains that the need to decarbonise is more acute than ever and platinum-based technologies have a significant role to play in the energy transition.

Platinum is key to unlocking the hydrogen economy, as proton exchange membrane (PEM) technology uses platinum catalysts in two key applications – electrolysers and hydrogen fuel cells to produce electricity.

FCEVs are a major market for hydrogen fuel cells.

The WPIC says platinum-based PEM technologies that enable the use of green hydrogen in decarbonisation could deliver up to 11% of global carbon dioxide emission reduction targets.

The Paris Agreement set 2050 carbon dioxide emission reduction targets to limit global warming to at least 2 °C or, better still, 1.5 °C above preindustrial levels. PEM technologies could help achieve these important goals, the council states.

Platinum demand from PEM electrolysers and FCEVs becomes a meaningful component of global demand by 2030 and potentially the largest segment by 2040, the WPIC notes.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online


Latest News

Sayona completes bookbuild for A$200m raise
Sayona completes bookbuild for A$200m raise
Updated 2 hours 14 minutes ago By: Esmarie Iannucci


Sandvik Image
Sandvik Rock Processing Solutions

Sandvik Rock Processing Solutions is a leading supplier of equipment, tools, parts, service and solutions for processing rock and minerals in the...

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones, wear-resistant linings,...


Latest Multimedia

sponsored by

Magazine cover image
Magazine round up | 26 May 2023
26th May 2023

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.085 0.113s - 91pq - 2rq
Subscribe Now