Platinum has traditionally been associated with catalytic converters, which reduce harmful emissions from internal combustion engine vehicles. But as global vehicle fleets electrify, the platinum industry is looking for sources of demand beyond the automotive market.

Hydrogen offers one potential answer. Platinum is used in proton-exchange membrane, or PEM, fuel cells and electrolysers, where it helps drive the chemical reactions that produce electricity or hydrogen. These technologies could be especially important in heavy-duty transport and industrial processes, such as steelmaking, where direct electrification is more difficult.

However, hydrogen remains a relatively small source of platinum demand today. Its future impact depends on whether hydrogen infrastructure can be deployed at scale, whether project developers can secure demand and financing, and how quickly manufacturers reduce the amount of platinum used in each fuel cell or electrolyser.

We speak with Edward Sterck, Director of Research at the World Platinum Investment Council; Una O’Hara, a researcher specialising in hydrogen storage and platinum-based technologies; and Sai Dheeraj Karanam, Mining Analyst at GlobalData, about the role platinum plays in hydrogen technology, the trade-off between lower catalyst loadings and faster deployment, and the ability of a concentrated mining industry to respond to rising demand.

Alejandro Gonzalez, mining editor at GlobalData, is the host of this episode of Energy Technology: Industry Insights.

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[00:01] Intro
[01:40] The demand challenge
[03:50] Platinum for hydrogen
[06:20] The problem with scaling hydrogen
[07:45] More hydrogen, less platinum
[09:35] Mining industry response
[10:40] Can hydrogen become a major platinum market?
[12:05] Ends

Reports: Europe Hydrogen Market Report – 2026 (GlobalData)