Unlocking Africa's Green Hydrogen Potential: PGMs Market Growth and Investment Opportunities
Key Ideas
  • The global PGMs market is projected to grow by 4.47% until 2029, driven by increased demand in green technologies like hydrogen energy.
  • Africa, with abundant PGM reserves, is set to play a pivotal role in the green hydrogen sector, with countries like Namibia and South Africa securing significant investments in green hydrogen projects.
  • Partnerships and agreements within Africa are being formed to develop green hydrogen corridors and projects, aiming to boost regional energy security and create export opportunities.
  • Synergy between PGMs and green hydrogen is being demonstrated in South Africa, with companies like Anglo American, BMW South Africa, and Sasol collaborating on hydrogen fuel cell vehicles.
The global market for platinum group metals (PGMs), including platinum, palladium, rhodium, and others, is expected to experience a 4.47% growth by 2029, fueled by the rising demand for PGMs in green technologies such as hydrogen energy. The Critical Minerals Africa (CMA) Summit, scheduled for November 6-7 in Cape Town, will delve into the connection between PGMs and green hydrogen, emphasizing their role in Africa's energy transition. The continent, particularly South Africa and Zimbabwe, holds vast reserves of PGMs crucial for fuel cell technology, enabling electricity production from hydrogen and oxygen. As African countries ramp up their green hydrogen initiatives, the long-term demand for PGMs is forecasted to increase significantly, supporting applications from hydrogen fuel cell vehicles to industrial processes. Namibia and South Africa are leading the charge in green hydrogen projects, attracting substantial investments for large-scale initiatives. In addition, partnerships are emerging to develop green hydrogen corridors, showcasing Africa's potential for green hydrogen production. The synergy between PGMs and green hydrogen is illustrated in collaborative efforts within South Africa's private and public sectors, signaling a positive outlook for the integration of these sectors. Overall, the article highlights the growth potential of the PGMs market, the promising landscape of green hydrogen in Africa, and the strategic investments and partnerships driving the continent's transition towards sustainable energy solutions.
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