The Global Magnesium-based Solid Hydrogen Storage Material Market was valued at USD 15.93 million in 2023 and is projected to reach USD 264.25 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 59.70% during the forecast period (2024-2029). This rapid expansion is fueled by accelerating global hydrogen infrastructure development, increasing adoption of fuel cell technologies, and government initiatives supporting clean energy storage solutions.

Magnesium-based materials offer superior hydrogen storage capabilities with high volumetric density, excellent reversibility, and cost-effective production. This blog examines the Top 10 Companies in the Magnesium-based Solid Hydrogen Storage Material Industry – from materials innovators to system integrators shaping tomorrow’s hydrogen storage landscape.

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🔟 1. MG Power

Headquarters: Vancouver, Canada
Key Offering: Magnesium hydride (MgH₂) powders and composites

A pioneer in advanced hydrogen storage solutions, MG Power develops high-capacity magnesium-based materials with enhanced hydrogen absorption kinetics for automotive and energy storage applications.

Technical Advancements:

• Proprietary nanocrystalline material synthesis technology
• Materials demonstrating 6.5 wt% hydrogen capacity at 300°C
• Strategic partnerships with automakers for fuel cell vehicle integration

Download FREE Sample Report: Global Magnesium-based Solid Hydrogen Storage Material Market – View in Detailed Research Report

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9️⃣ 2. GRIMAT Engineering Institute

Headquarters: Beijing, China
Key Offering: Magnesium alloy hydrogen storage materials

As China’s leading research institute for hydrogen storage technologies, GRIMAT develops advanced magnesium alloys with rare earth additives that improve thermodynamic properties and cycling stability.

Technical Advancements:

• Commercial production capacity of 50 tons/year
• Materials with hydrogen release temperatures below 250°C
• Key supplier for China’s national hydrogen energy projects

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8️⃣ 3. Shanghai H2store Energy Technology

Headquarters: Shanghai, China
Key Offering: Integrated Mg-based hydrogen storage systems

This Chinese innovator designs complete hydrogen storage solutions combining proprietary magnesium materials with optimized system architecture for industrial applications.

Technical Advancements:

• Modular systems from 5kg to 500kg hydrogen capacity
• Patented thermal management for rapid hydrogen release
• Deployments in hydrogen refueling stations across Asia

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7️⃣ 4. Biocoke Lab

Headquarters: Tokyo, Japan
Key Offering: Catalyzed magnesium hydride compounds

Japanese research firm Biocoke Lab specializes in catalytic doping technologies that significantly improve the reaction kinetics of magnesium-based hydrogen storage materials.

Technical Advancements:

• Nanoscale catalysts enabling operation below 280°C
• Participation in Japan’s Ene-Farm residential energy projects
• Materials with over 1,000 charge/discharge cycles demonstrated

Download FREE Sample Report: Global Magnesium-based Solid Hydrogen Storage Material Market – View in Detailed Research Report

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6️⃣ 5. Sigma Aldrich (Merck Group)

Headquarters: Darmstadt, Germany
Key Offering: Research-grade magnesium hydride

As part of Merck’s life science business, Sigma Aldrich supplies ultra-high purity magnesium hydride materials to enable global hydrogen storage research and development.

Technical Advancements:

• 99.99% pure MgH₂ for fundamental research
• Strict quality control for reproducible experiments
• Global distribution supporting academic and industrial R&D

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5️⃣ 6. Jiangsu JITRI Advanced Energy Materials Institute

Headquarters: Nanjing, China
Key Offering: Nanostructured Mg-based composites

This Chinese research center focuses on developing next-generation nanocomposites combining magnesium hydride with carbon nanomaterials for enhanced performance.

Technical Advancements:

• Graphene-reinforced materials with improved kinetics
• Core-shell nanostructures for cycling stability
• Collaboration with Chinese EV manufacturers

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4️⃣ 7. Hydrogen Storage International

Headquarters: Oslo, Norway
Key Offering: Marine hydrogen storage solutions

Specializing in ruggedized hydrogen systems, Hydrogen Storage International develops magnesium-based storage for maritime and offshore renewable energy applications.

Technical Advancements:

• Systems certified for harsh marine environments
• Partnerships with shipbuilders and offshore operators
• Compliant with DNV and ABS marine safety standards

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3️⃣ 8. EnerHyTech

Headquarters: Munich, Germany
Key Offering: Industrial-scale MgH₂ production

EnerHyTech is scaling up manufacturing of magnesium-based hydrogen storage materials to meet growing demand from energy storage applications.

Technical Advancements:

• Continuous production processes for cost reduction
• Materials optimized for renewable energy storage
• Participation in EU hydrogen valley initiatives

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2️⃣ 9. HyPoint

Headquarters: Campbell, California, USA
Key Offering: Lightweight hydrogen systems

HyPoint develops advanced magnesium-based hydrogen storage solutions for aerospace and mobility applications requiring compact, lightweight systems.

Technical Advancements:

• Ultra-light designs for aviation applications
• Rapid refueling capability (<5 minutes)
• Partnerships with eVTOL manufacturers

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1️⃣ 10. Hydrogenious LOHC Technologies

Headquarters: Erlangen, Germany
Key Offering: Hybrid solid-liquid hydrogen systems

This German innovator combines magnesium-based storage with Liquid Organic Hydrogen Carrier (LOHC) technology for flexible hydrogen logistics solutions.

Technical Advancements:

• Hybrid systems for hydrogen transport infrastructure
• Solutions enabling hydrogen import/export
• Participation in major European hydrogen projects

Get Full Report Here: Global Magnesium-based Solid Hydrogen Storage Material Market – View in Detailed Research Report

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🌍 Market Outlook: Solid Foundations for Hydrogen Storage

The magnesium-based hydrogen storage sector is entering a phase of accelerated commercialization, supported by material innovations and scaling manufacturing capabilities. As hydrogen adoption grows across energy, transportation and industrial applications, these materials provide a safe, efficient storage solution.

📈 Key Industry Developments:

• Material enhancements reducing operating temperatures to 250-300°C
• Increasing integration with hydrogen refueling infrastructure
• Expanding applications in heavy transport and renewable energy storage
• Government-backed hydrogen valley projects boosting adoption

Get Full Report Here: Global Magnesium-based Solid Hydrogen Storage Material Market – View in Detailed Research Report

The companies profiled represent the vanguard of hydrogen storage innovation, developing the materials and systems that will enable the transition to a hydrogen-powered future.