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Overview of Rare Earth Hydrogen Storage Materials: Rare
earth hydrogen storage materials are metallic substances known for their
unique ability to absorb and release hydrogen reversibly, either from the gas
phase or electrochemically. This remarkable property finds application in
various fields, including rechargeable batteries, cooling devices, and fuel
cell storage systems. Among the broad spectrum of hydrogen storage alloys under
investigation, two categories, AB5 and AB2 type alloys, stand out due to their
optimal combination of high storage capacity and operational parameters.
AB5 alloys incorporate a hydride-forming rare earth metal,
typically Lanthanum, Cerium, Neodymium, Praseodymium, Yttrium, or their blend,
referred to as Mischmetal, along with a non-hydride-forming element, namely
nickel. Nickel can be alloyed with other metals like Cobalt, Sn, or Aluminum to
enhance material stability or modify the equilibrium hydrogen pressure and
temperature necessary for charging and discharging.
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Market Dynamics of Rare Earth Hydrogen Storage Materials: The
increasing demand for rechargeable batteries and cooling devices has been a
driving force in the growth of the rare earth hydrogen storage materials
market. Additionally, the global demand for renewable energy sources has been
on the rise. Hydrogen energy, being a clean and efficient form of renewable
energy, is expected to play a significant role in the future energy landscape.
The utilization of hydrogen energy encompasses various aspects, including
production, application, storage, and transportation, with storage being a key
technical challenge inhibiting widespread adoption. Rare earth-based hydrogen
storage materials represent a promising medium for hydrogen storage and are
widely used as anode materials in commercial Ni/MH batteries due to their
excellent storage and electrochemical properties.
In recent news from the Science and Technology Daily, it was
reported that a production line for new rare earth hydrogen storage alloy
electrode materials has been commissioned in China. This production line, located
at the Baotou Rare Earth Research and Development Center under the Chinese
Academy of Sciences, was developed with proprietary intellectual property
rights. Compared to traditional materials, the new material boasts a 30% higher
storage capacity, enhanced safety, and suitability for use at temperatures as
low as minus 40°C. These advantages make the new rare earth hydrogen storage
electrodes suitable for applications in fuel cells and hybrid car batteries.
Hydrogen storage is a critical enabling technology for the
advancement of fuel cell applications in various sectors, including portable
power, stationary power, and transportation. Hydrogen is an energy-dense fuel,
but its low density at ambient temperatures requires the development of
advanced storage methods capable of storing higher energy density. The Fuel
Cell Technology Office (FCTO) is actively involved in research and development
activities to advance storage system technology and create innovative storage
materials. The goal is to meet the hydrogen storage targets set by the U.S.
Department of Energy (DOE) for light-duty vehicles, material-handling
equipment, and portable power applications by 2020, enabling hydrogen-fueled
vehicles to meet customer expectations in terms of range, passenger and cargo
space, refueling time, and overall performance.
Regional Outlook for the Rare Earth Hydrogen Storage
Materials Market: North America is expected to witness significant revenue
growth in the rare earth hydrogen storage materials market due to increased
investments in fuel cell technology research and the exploration of the
potential of these materials. Europe follows North America in revenue due to
the presence of advanced economies committed to sustainable technology
development and adoption.
Key Players in the Rare Earth Hydrogen Storage Materials
Market: Notable companies in the rare earth hydrogen storage materials market
include:
1. Frontier Rare Earths
2. Greenland Minerals
3. Toshiba
4. Stanford Magnets
5. Lynas
6. Hitachi-metals
7. Montero Mining & Exploration
8. Arafura Resources
9. Alkane Resource
10.Canada Rare Earth
11.Namibia Rare Earths
12.Molycorp
Impact of COVID-19 on the Rare Earth Hydrogen Storage
Materials Market: The outbreak of COVID-19 has profoundly affected various
industries. While the healthcare sector has been focused on patient care and
virus prevention, most other industries have faced uncertainties about when
they can resume normal operations to ensure worker safety. Economic challenges
and job market uncertainties have also reduced demand for non-essential
products and impacted investments in the research and development of rare earth
hydrogen storage materials. As the world strives to develop effective vaccines,
it is expected that the market will rebound as industries return to normal
operations.
Regional Analysis Includes:
Report Highlights:
Segmentation of the Rare Earth Hydrogen Storage Materials
Market: This report presents revenue growth at a global, regional, and country
level, and analyzes market trends within sub-segments from 2017 to 2027.
Reports and Data have segmented the rare earth hydrogen storage materials
market based on product and application.
By Product (Revenue, USD Million; 2017-2027):
1. Magnesium
2. Rare Earth
3. Titanium
By Application (Revenue, USD Million; 2017-2027):
1. NiMH Batteries
2. Hydrogen Purification
3. Heat Pump Manufacturing
4. Catalyst
5. Others
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