Fuel cell material demand will rise at a rapid double-digit pace due to the increasing adoption of fuel cells in electrical generation and industrial/motive power applications, says the Freedonia report, “US Battery & Fuel Cell Materials Market.”
However, even faster gains will be limited by the fuel cell industry’s continuing efforts to reduce costs associated with platinum through the adoption of less expensive and more efficient alternatives.
Robust global demand for fuel cells as alternatives in electricity generation and industrial and motive power applications will support the rapid expansion of the US fuel cell industry, and drive double digit growth in fuel cell material demand through 2017. All material types will benefit, though industry efforts to find alternative electrode catalyst materials will limit faster advances in fuel cell metal demand. Even faster growth in fuel cell material demand over the long term will reflect the penetration of fuel cells in motor vehicle and portable device applications.