Platinum is becoming more important to clean energy as a catalyst in hydrogen production, fuel cells, green fuel synthesis and sustainable aviation fuel pathways, so demand from clean-energy technologies is forecast to rise even as some traditional uses shrink[1][7][6].
Platinum’s key roles in clean energy
– Electrolyzers. Platinum and other platinum-group metals accelerate the water-splitting reaction that produces green hydrogen, improving efficiency and durability of electrolyzers used with renewable electricity[6][4].
– Fuel cells. Platinum catalysts in proton-exchange membrane and other fuel cells enable efficient conversion of hydrogen to electricity for vehicles and stationary power, making platinum central to many hydrogen-based decarbonization plans[4][3].
– Synthetic fuels and SAF. In power-to-liquid and Fischer Tropsch routes to sustainable aviation fuel, platinum acts as a promoter or in isomerization steps that improve catalyst performance or fuel cold-flow properties, meaning SAF scale-up will add incremental platinum demand[1][7].
– Other industrial decarbonization. Platinum aids chemical processes and emission-control applications that support cleaner industrial operations, sustaining some industrial demand even as automotive patterns shift[2][4].
Why demand is expected to rise
– Hydrogen economy growth. Industry forecasts and market analysts project fast expansion of electrolyzers and fuel-cell deployment for transport and heavy-duty applications, which raises platinum uptake in the 2020s and into the 2030s[3][2].
– SAF scale-up. Global SAF production capacity is projected to grow materially by mid-century, and while current platinum use in SAF is small, modelled increases in PtL and Fischer Tropsch volumes imply growing requirements for platinum-containing catalyst systems[1][7].
– Supply constraints and recycling limits. Platinum comes from concentrated mining regions and existing above-ground stocks are limited; increasing industrial demand can expose markets to supply tightness and price volatility[5][2].
How much platinum might be needed
– Quantities vary by application and technology choices. Analysts estimate industrial demand growth driven by hydrogen could add several hundred thousand ounces of demand by 2030 for platinum-group metals, while SAF pathways could add additional but smaller annual ounces by mid-century as capacity scales[3][1]. Specific tonnage depends on catalyst loadings, reuse rates and technological advances that reduce platinum intensity[1][6].
Challenges and uncertainty
– Substitution and technology risk. Researchers are actively developing lower-PGM or non-PGM catalysts (for example nickel-based or novel nanomaterials), and successful substitution or dramatically reduced PGM loadings would cut future platinum demand[4][6].
– Geographic and environmental risks. Much platinum supply is concentrated in southern Africa; mining expansion raises environmental and social considerations that can affect production and investment choices[5][4].
– Market volatility. Investment flows, jewelry and automotive cycles still influence platinum prices alongside industrial demand, producing potential short-term swings even as structural clean-energy drivers increase long-term interest[2][3].
Practical implications for industries and policy
– Manufacturers. Electrolyzer and fuel-cell makers are incentivized to reduce platinum loading, improve recycling and design for catalyst longevity to lower material costs and exposure to metal price swings[6][4].
– Miners and recyclers. Rising clean-energy demand makes reprocessing mine tailings, expanding recycling and exploring lower-impact extraction more economically attractive, which some producers and governments are already pursuing[5][4].
– Policymakers. To support decarbonization without causing raw-material bottlenecks, policies can promote recycling, fund R and D into lower-PGM catalysts, and encourage diversified supply chains for critical metals[4][5].
Sources
https://bioenergytimes.com/global-platinum-demand-set-to-rise-as-sustainable-aviation-fuel-production-expands/
https://www.imarcgroup.com/news/platinum-price-index
https://www.streetwisereports.com/article/2025/12/15/platinums-impressive-ascent-could-continue-through-2026.html
https://energy.sustainability-directory.com/question/what-are-the-impacts-of-pgm-reliance-on-production/
https://www.climatechangenews.com/2025/11/26/south-africas-platinum-mine-dumps-get-a-second-look-as-clean-energy-lifts-demand/
https://discoveryalert.com.au/pgm-catalyzed-water-splitting-mechanisms-2025/
https://www.miningweekly.com/article/global-council-expects-platinum-demand-from-sustainable-aviation-fuel-to-increase-incrementally-2025-11-21
https://www.goldavenue.com/en/blog/newsletter-precious-metals-spotlight/should-you-consider-investing-in-platinum-and-palladium