Article

The International Energy Agency (IEA) has revised its hydrogen electrolyser capacity growth downward, deferring many pre-2030 projects to post-2030, which is expected to reduce platinum demand from electrolysis by 12% from 2026 to 2030. Despite a 9% increase in the total number of hydrogen projects anticipated by 2040, challenges such as high costs and regulatory uncertainty persist, leading to a shift towards alkaline technology that does not utilize platinum group metals. The World Platinum Investment Council projects cumulative electrolysis capacity to reach 225 GW by 2040, significantly below the IEA's earlier estimate of 1,100 GW.