Platinum Demand Surge: Green Hydrogen Boost in China
Key Ideas
- Green hydrogen production in China is projected to increase platinum demand by 40% by 2040.
- This growth corresponds to an additional 25 tons per annum of platinum demand, as per WPIC's research director.
- The rise in demand is attributed to the expanding usage of fuel cells in the green hydrogen industry.
- The surge in platinum demand reflects the increasing focus on sustainable energy solutions in China.
The article discusses the anticipated surge in platinum demand driven by the green hydrogen industry in China. According to Edward Sterck, the director of research at WPIC, green hydrogen production and fuel cells are expected to contribute significantly to the growth. It is projected that by 2040, an additional 25 tons per annum of platinum demand will be generated, marking a 40% increase from current Chinese consumption levels. This surge in demand is a clear indicator of the shift towards more sustainable energy solutions and the increasing importance of green hydrogen in the energy sector. The rise in platinum demand showcases the potential for growth and innovation in the green energy industry, highlighting the opportunities for both the platinum market and the advancement of environmentally friendly technologies.