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Supply and demand of platinum group metals and strategies for sustainable management

Author

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  • Zhang, Shengen
  • He, Xuefeng
  • Ding, Yunji
  • Shi, Zhisheng
  • Wu, Boyu

Abstract

Platinum group metals (PGMs) are regarded as strategic metals due to high melting point, corrosion resistance and catalytic activity. They are widely employed in renewable energy, petrochemical industry, vehicles and pharmaceutical engineering. However, the supply and demand of PGMs are facing challenges stemming from rarity and unequal distribution across the globe. This review aims to delve into the supply-demand of PGMs to elucidate primary applications and pinpoint current or projected shortfalls in the supply chain. The future demand for PGMs indicates a significant increase, particularly within the hydrogen sector. It is anticipated that Pt and Ir consumption in fuel cell vehicles and proton exchange membrane electrolysis will reach 143 tons and 38 tons by 2050, respectively. Production of PGMs is far from meeting demand. Sustainable development strategies, including recycling, substitution and innovative technologies, are proposed to address this contradiction. Recycling serves as a strategy to increase PGMs supply. Nevertheless, recycled PGMs accounted for approximately 26 %. Substitution represents a pathway to decrease the PGMs contents in products. The Pt load in fuel cells declined from 1.0 g kW−1 in the 1990s to 0.3 g kW−1 nowadays. Innovative technologies can mitigate the PGMs demand. Electric vehicles, solid oxide fuel cells and electrolysis cells provide promising alternatives for PGMs intensive industry. Ultimately, key future development directions for PGMs are outlined. The emphasis should lie on enhancing PGMs recovery efficiencies and intensifying research into catalytic mechanisms. Notably, ensuring the secure supply of PGMs will facilitate the advancement of renewable and sustainable energy.

Suggested Citation

  • Zhang, Shengen & He, Xuefeng & Ding, Yunji & Shi, Zhisheng & Wu, Boyu, 2024. "Supply and demand of platinum group metals and strategies for sustainable management," Renewable and Sustainable Energy Reviews, Elsevier, vol. 204(C).
    • Handle: RePEc:eee:rensus:v:204:y:2024:i:c:s1364032124005471
    DOI: 10.1016/j.rser.2024.114821
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