Nornickel, the leading palladium producer globally, anticipates a substantial shift in demand dynamics as China's traditional consumption of palladium is projected to decrease by 29% to 47 tons by 2030 due to the reduced production of internal combustion engine (ICE) vehicles. To counterbalance this decline, Nornickel, in collaboration with Chinese entities, is exploring innovative technologies in hydrogen production and water purification that utilize palladium, aiming to create an additional 15 tons of demand and influence market forecasts significantly. Recognizing China's advancements in hydrogen production as part of its green strategy, Nornickel is strategically aligning itself with this trend. The company plans to address the potential oversupply concerns by generating 40-50 tons of new palladium demand by 2030, focusing on partnerships in China and expanding into markets like the Middle East, Brazil, and Malaysia. Moreover, Nornickel is seeking to increase palladium usage domestically in Russia by supplying the metal for applications like fiberglass production and water purification. The company's strategic pivot towards Asia for sales, accounting for over 52% of its sales, shields it from Western sanctions against Russia. Overall, Nornickel's proactive approach to embracing hydrogen and green chemistry showcases a positive sentiment towards evolving palladium demand and market diversification.