The World Platinum Investment Council (WPIC) reports a substantial increase in demand for platinum group metals (PGMs) from the hydrogen industry, with expectations of further growth in 2025. While the demand for platinum, iridium, and ruthenium from hydrogen applications is anticipated to support palladium demand indirectly, challenges such as delayed projects and insufficient infrastructure have hindered the sector's growth. The development of the hydrogen economy has not met initial expectations, leading to slower-than-expected demand for PGMs due to unfinanced projects and subdued hype. However, with significant government subsidies and increasing investments in hydrogen projects globally, especially in regions like Europe and China, the outlook is positive. The EU, for instance, has allocated substantial funding for hydrogen refueling stations and adopted regulatory frameworks to support hydrogen infrastructure. Despite challenges and delays, industry experts like Dominik Sperzel from Heraeus Precious Metals Germany remain optimistic about the PGM demand growth in the future, emphasizing the potential of hydrogen as a significant driver for platinum and iridium demand. The industry is hopeful that as subsidies flow and infrastructure investments accelerate, consumer demand for fuel cell electric vehicles and the overall hydrogen economy will witness substantial growth.