Iridium is important for hydrogen production, specifically in electrolysis, which involves using an electric current to split water into hydrogen and oxygen. Currently, there are two main technologies available in the market, and one of them is proton exchange membrane (PEM) electrolysis, which relies on iridium as an electrocatalyst.
There are two primary methods for producing green hydrogen. The oldest and most widely used technique is alkaline electrolysis, accounting for approximately 61% of global installed capacity. PEM electrolysis currently holds a market share of around 31%.
Experts suggest that due to the difficulty in increasing precious metal production, the iridium market may face shortages. However, potential solutions to the iridium issue are expected to emerge in the mid-term.
Currently, some new technologies are focused on reducing iridium consumption in electrolysis catalysts.
If the price of iridium significantly rises, there could be a decrease in demand from the electronics industry since iridium can be substituted with other metals. This could alleviate the market situation.
