The global “fuel cell catalyst” market size is set to undergo a robust growth period owing to the increasing demand for renewable energy across the globe. According to the International Energy Agency (IEA), the share of renewables in meeting the world energy demand will grow by 20% to reach 12.4% from the present levels by 2023. Furthermore, renewables will account for 30% of global power demand and meet 70% of the world’s electricity needs, fueled by solar PVs, by 2023. The gradual shift towards renewables will be crucial for the fuel cell catalyst market growth as these devices are seen as instrumental in reducing greenhouse gas emissions and lowering pollution levels. This is substantiated by the fact that heat consumption through renewable sources will increase by 20% as 2023 approaches, as reported by the IEA. As a result, waste heat generated by manmade sources will be better managed and less waste heat will be produced as clean energy sources gain traction.
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Key Market Players:
- Johnson Matthey
- Huntsman Corporation
- Pyrochem Catalyst Company
- Tanaka Holdings Co., Ltd.
- Haldor Topsoe A/S
- De Nora
Key Market Driver – Growing investment in sustainable energy sources
Key Market Restraint – Highly expensive & limited technological reach
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Increasing Focus on Research to Stir Competition
Competition in this market is expected to be characterized by a growing focus on research, especially by academic institutions. On the other hand, private companies are looking to entrench their position in this market through operational expansion and diversification of product offerings.
Key Industry Developments:
- November 2019: A team of materials scientists at the Indian Institute of Technology (IIT) Madras developed a fuel cell catalyst made of zirconium nitride nanoparticles that could prove to be a superior alternative to the traditional platinum catalysts at a lower cost.
- April 2019: Hyundai announced it’s teaming up with H2 Energy to deliver 1600 fuel cell trucks in Europe in a bid to establish its presence in the European market.
Key Segmental Overview:
1. By Type
- Platinum Ruthenium Alloy
2. By Application
- Methanol Fuel Cell Catalyst
- Hydrogen Fuel Cell Catalyst
- Reformate Fuel Cell Catalyst
3. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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Major Table of Content For Fuel Cell Catalyst Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Fuel Cell Catalyst Market Analysis, Insights and Forecast, 2026
- North America Fuel Cell Catalyst Market Analysis, Insights and Forecast, 2026
- Europe Fuel Cell Catalyst Market Analysis, Insights and Forecast, 2026
- Asia Pacific Fuel Cell Catalyst Market Analysis, Insights and Forecast, 2026
- Middle East and Africa Fuel Cell Catalyst Market Analysis, Insights and Forecast, 2026
- Latin America Fuel Cell Catalyst Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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