Hydrogen Storage Alloy Market

Hydrogen Storage Alloy Market Outlook (2025 to 2035)

The global hydrogen storage alloy market was valued at US$ 3,431.8 million in 2024 and has been forecasted to expand at a noteworthy CAGR of 8.5% to end up at US$ 8,352.3 Million by 2035.

Hydrogen is considered one of the most significant elements and is abundantly available in a gaseous state. In recent years, increased interest has been generated to make hydrogen a vital source of energy within various applications.

The growing interest in substituting renewables with other dispatchable energy sources has significantly pushed the demand for the generation and storage of hydrogen. Hydrogen storage alloys can hold a significant amount of hydrogen in a compact form, making them ideal for various applications.

Compared to storage of hydrogen gas under high pressure, metal hydrides offer safety as they tend to reduce risks of explosion. The hydrogen can be repeatedly absorbed and released, which in turn makes alloys highly efficient in energy applications.

Hydrogen energy storage is the technique of storing surplus energy produced by renewables for further utilization for purposes like fuel for piston engines or gas turbines and many others. Hydrogen produced through the electrolysis mechanism holds great futuristic opportunities and great promise as an economic fuel choice.

The requirement for hydrogen production and storage is likely to increase in underground caverns for massive energy storage or steel containers for smaller-scale storage. The increasing concern over hydrogen as a potential renewable source of energy together with the increased demand for hydrogen energy storage is projected to drive demand for hydrogen storage alloys in the global market.

Similarly, different methods have significantly been utilized in the storage of hydrogen apart from hydrogen storage alloys; high-pressure hydrogen gas storage, and liquid hydrogen storage, among others at the hydrogen refueling stations.

Report Attributes	Details
Global Hydrogen Storage Alloy Market Size (2024A)	US$ 3,431.8 Million
Estimated Market Value (2025E)	US$ 3,694.1 Million
Forecasted Market Value (2035F)	US$ 8,352.3 Million
Global Market Growth Rate (2025-2035)	8.5% CAGR
North America Market Share (2025)	27.3%
U.S. Market Growth Rate (2025-2035)	10.3% CAGR
Key Companies Profiled	INOXCVA; HBank Technologies Inc.; Pragma Industries; Croyolor; Air Liquide; Worthington Industries, Inc.; Linde plc; Luxfer Holdings PLC; Hexagon Composites ASA; Chart Industries; American Elements; AMG Titanium Alloys & Coatings LLC; Jiangmen Kanhoo Industry Co. Ltd; Xiamen Tungsten Co. Ltd; Baotou Santoku Battery Materials Co. Ltd.; Santoku Corporation; Among Others.

Historic Analysis (2020 to 2024) and Future (2025 to 2035) Pathway Analysis for the Global Hydrogen Storage Alloy Market

The market for global hydrogen storage alloy market grew at a growth rate of 7.1% from 2020 to 2024, and by the end of 2024, it was valued at US$ 3,431.8 million. The stringent regulations related to the global hydrogen storage alloy market are a major factor for the steady increase of the market during the forecasted period.

Historical Report Attributes	Details
Market Size (2020A)	US$ 2,556.2 million
Market Size (2024A)	US$ 3,431.8 million
Historical CAGR (2020 to 2024)	7.1%
Forecasted CAGR (2025 to 2035)	8.5%

• Short Term (2025 to 2028): Increased production of rechargeable batteries is projected to drive the market in the short term. Hydrogen storage alloys, the main materials in the negative electrodes of nickel/metal hydride (Ni-MH) secondary batteries, have been extensively studied for many years because of their dominant role in the battery. Market players are working on the substitution of alloy components, heat treatment, and surface treatment to improve the performance of hydrogen storage alloys, mainly LaNi5-based alloys.
• Medium Term (2029 to 2030): Advancement in technology is a significant aspect affecting the market's growth in this period. Hydrogen-based fuel cells are most commonly used in transport. Increased number of fueling stations, combined with more stringent regulations on internal combustion engine manufacturers regarding how to control emissions. Technological advancement in multiple transportation means will drive the hydrogen storage alloy market in the medium term.
• Long Term (2031 to 2035): Hydrogen is the most abundant element in the universe, and hydrogen-based energy has emerged as a clean source of energy that is used by buses, forklifts, ships & boats, as well as submarines, and others running on hydrogen, only produces water as a byproduct. Hydrogen is used in fuel cells in vehicles to energy storage systems for renewables, and it's clear that the versatility of hydrogen is unarguable. This sustainable approach will become a trend in the future and will drive the market in the long term.

On the back of the aforementioned facts, the global hydrogen storage alloy market is anticipated to grow at a CAGR of 8.5% during the forecast period from 2025 to 2035, According to the Fact.MR, a market research and competitive intelligence provider.

Market Dynamics

What are the Factors Propelling Global Sales of the Hydrogen Storage Alloy Market?

“Environmental Awareness and Demand for Sustainable Materials is Driving the Global Hydrogen Storage Alloy Market”

New technological innovations present immense opportunities, and, increasing awareness about green storage systems in this market will drive the market and it will contribute to creating long-term economic opportunities for the market players in this market.

As the hydrogen economy grows, the emphasis is on sustainable and efficient ways of producing and storing hydrogen. Efficient methods in hydrogen storage technology will be the major driver for the market, where alloys are used to create stable hydride compounds that can absorb large volumes of hydrogen. This method does not only increase storage capacity but also offers a safer alternative to high-pressure gas cylinders.

As governments and industries collaborate to develop infrastructures that will support a hydrogen-based economy, the increasing awareness of the hydrogen storage alloy process is key to propelling the market at a remarkable pace.

“Growing Application across various Industry is Boosting the Revenue Growth of the Market”

Rising adoption of hydrogen storage alloys in aerospace, marine, automotive, and other sectors is also an important factor driving the market’s revenue growth, the market will see promising growth with incremental opportunity of US$ 4,658.2 Mn during the forecasted period.

Growth in the renewable energy sector, with solar and wind power taking the lead, increases the need for energy storage solutions that bridge supply and demand. A promising area is the discovery of new materials for hydrogen storage, such as metal hydrides, to improve the efficiency and capacity of storage systems. Some of the applications include ground support equipment used in airports for material handling, fuel-cell powered bicycles, ships & boats, trams & trains, submarines, and unmanned vehicles.

What are the Challenges Encountered by Manufacturers of the Global Hydrogen Storage Alloy Market?

“Threat of competition from alternative energy storage technologies is the biggest threat for market players”

While opportunities abound, the hydrogen storage alloy market still faces a few challenges to realize its full potential. Technological barriers are still evident, especially concerning the required energy density and efficiency to penetrate broader applications.

Competition from alternative energy storage technologies, such as lithium-ion batteries hampering the growth of new market players. Fluctuations in raw material prices for the production of alloys can also affect profitability and stability in the market. In addition, public acceptance of hydrogen technologies, especially in the transportation sector, is critical.

In the absence of proper education of consumers regarding the advantages and safety of hydrogen fuel, the penetration of markets might be slower than expected. For stakeholders who wish to capitalize on the growth trajectory of the hydrogen storage alloy market, overcoming these challenges will be of great importance.

Country-wise Insights

Why is the Adoption of the Global Hydrogen Storage Alloy Market High in the United States?

“Large Aerospace and Green Energy Storage Industry is a major Source of Revenue for Hydrogen Storage Alloys”

The market in the United States is estimated at US$ 816.9 million in 2025 and is projected to expand at a CAGR of 10.3% through 2035. This market is projected to generate a US$ 1,355.3 Million absolute opportunity from 2025 to 2035.

The hydrogen storage alloy market is experiencing dynamic shifts in global leadership, with the United States currently holding a dominant position due to its robust research infrastructure, advanced technological capabilities, and significant early investments in hydrogen technologies. Various market-driving factors propel growth in this sector.

The global push for de-carbonization and clean energy transitions, increasing adoption of HFCVs, and the quest for efficient safe hydrogen storage solutions for various applications. Government incentives, improvements in material science, and growing hydrogen infrastructure are also essential factors driving growth in the market. As hydrogen becomes a major clean energy carrier, the growth in the market for hydrogen storage alloy is anticipated to be considerable.

Why is China a Lucrative Market for Global Hydrogen Storage Alloy Market?

“Rapid Industrial Automation and Adoption in Green Energy Industry”

The market in China is estimated to reach US$ 1,251.7 million in 2035 at a CAGR of 9.7%. This market is projected to generate a US$ 756.6 Million absolute opportunity from 2025 to 2035.

China is known for its large-scale industrial alloy production. The global hydrogen storage alloy market in China is witnessing a surge in demand due to its rapid industrial automation. China is rapidly emerging as a key player fueling opportunities by its ambitious national hydrogen strategies, growing domestic demand for clean energy, and a broadening manufacturing base.

The key players from China are innovating advanced materials including metallic hydrides and complex hydrides. China announced its first-ever bold plan to reach its fullest capability of producing 100,000 tons to 200,000 tons of clean hydrogen and hence the reduction of 1MT to 2MT of CO2 emissions by 2025. By 2035, China looks forward to the country's main consumptions, mainly catered by green sources, especially hydrogen.

Category-wise Insights

Which Industry is Expected to Remain Most Popular for Global Hydrogen Storage Alloy Market?

“Aerospace and Automotive is Expected to Remain Widely Popular Owing to their Extensive Demand for Hydrogen Storage Alloy”

Aerospace and automotive segments are together estimated to hold 54.2% market share in 2025, and the segment is projected to reach a market valuation of US$ 4,861.0 Mn by 2035-end.

Alloys based on titanium have the potential to be utilized in the production of numerous aerospace parts, which are engines, airframes, and mechanical parts. In the aerospace industry metal hydrides are used for aircraft applications. It is a form of metallic alloy that is known to absorb hydrogen. Due to the ability of hydrogen absorption and liberation from such alloys, they can be a storage mechanism.

The global push toward sustainable energy solutions has ignited interest in hydrogen as a clean fuel alternative. As nations commit to reducing carbon emissions, the demand for efficient hydrogen storage solutions has surged. One promising area of innovation lies within hydrogen storage alloys. In this blog post, we’ll explore why hydrogen storage alloys are poised to become a significant player in the energy market.

Competitive Landscape

Key players in the Global Hydrogen Storage Alloy Market are American Elements, AMG Titanium Alloys & Coatings LLC, Jiangmen Kanhoo Industry Co. Ltd, Xiamen Tungsten Co. Ltd, Air Liquide, JMC (Japan Metals & Chemicals Co., Ltd., Hexagon Composites ASA, Santoku Corporation amongst other.

Companies devote a significant portion of their revenue to R&D to resolve problems and offer creative solutions to draw in new customers and stay competitive. The key players in the global hydrogen storage alloy market are innovating advanced materials including metallic hydrides and complex hydrides, which have considerable advantages such as energy density and safety.

These materials could store hydrogen at relatively lower pressures and temperatures than is possible in traditional gas storage, thus making them suitable for a wide array of applications. Hydrogen could meet around 18% of the world's energy needs by 2050, which is quite significant and underlines the importance of proper storage solutions. Rapid technological advancements and growing investments in research and development characterize the market.

For instance :

• In August 2024, APWORKS developed a new product, Scalmalloy CX, targeted toward cryogenic applications, especially concerning hydrogen propulsion. Scalmalloy CX is a significant development for materials science, specifically designed for applications operating at cryogenic temperatures. This second (or third) generation material is designed to maintain exceptional mechanical properties even at extremely low temperatures, making it a game-changer for industries such as aerospace, where performance and weight are critical factors. The hallmark of Scalmalloy CX is its ability to withstand the extreme stresses encountered at cryogenic temperatures without compromising structural integrity. This is important for liquid hydrogen storage and pumping applications where material failure is catastrophic.

Fact.MR has provided detailed information about the price points of key manufacturers of the global hydrogen storage alloy market positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Global Hydrogen Storage Alloy Market

• By Classes :

  • AB5-type alloys
  • AB3-type alloys
  • A2B7-type alloys
  • AB2-type alloys
  • AB-type alloys
  • Mg-based alloys
  • V-based solid solution alloys

• By Application :

  • Rechargeable Batteries
  • Cooling Devices
  • Fuel Cells

• By End User Industry :

  • Automotive
  • Energy
  • Aerospace
  • Electronics

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa