Since 1975, Hydrogen demand has grown at over 3% p.a. with supply dominated by grey hydrogen. The Energy Transitions Commission (ETC) estimates that the current market for hydrogen will now grow at over 9% p.a. through 2030.
Currently, grey hydrogen is predominantly produced through steam methane reformation of natural gas, which releases 9-10 kg CO2 per kg H2, making emission-free green hydrogen a viable decarbonisation solution for the existing hydrogen market.
In addition, growing uses for green hydrogen are displacing natural gas in heating, as an energy carrier to store or generate electricity in fuel cells, and also in fuel cell electric vehicles.
Green hydrogen is produced through the electrolysis of water using renewable electricity powering either a proton exchange membrane (PEM) or an alkaline electrolyser. PEM electrolysers use platinum as a catalyst, whereas alkaline electrolysers do not contain platinum.
Between October 2021 and October 2022, the capacity of green hydrogen projects in operation increased by 58%, and the capacity of planned green H2 projects increased by 64%.
If all planned green hydrogen projects are developed with PEM electrolysers, it is estimated that the cumulative platinum requirements to 2030 would total over 2.7 Moz.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished