Industrial demand for platinum comes mainly from its role as a durable, corrosion‑resistant catalyst and high‑temperature material, with the chemical and petroleum industries and automotive catalysts among the largest industrial users[1][2].
Platinum’s key industrial properties explain where and why it is used. It resists oxidation and corrosion at high temperatures, conducts electricity, is chemically inert in many environments, and acts as an excellent catalyst for hydrogen and oxygen reactions; these traits make it suitable for catalytic converters, petroleum refining, glassmaking, electronics components, and fuel cells[1][2][3].[2]
Major industrial applications and how platinum is used
– Petroleum and chemical processing: Platinum catalysts are widely used for hydrogenation, dehydrogenation, reforming, and other core reactions in producing fuels, chemicals, and intermediates; the chemical and petroleum sector accounts for roughly 40 percent of industrial platinum use according to market analyses[1].[1]
– Automotive emissions control: Platinum is a primary catalytic metal, especially in diesel vehicle converters, where it helps convert carbon monoxide, hydrocarbons, and nitrogen oxides into less harmful gases; this remains a major source of industrial demand[2][6].[2]
– Glass and high‑temperature manufacture: Platinum alloys and components are used to handle molten glass and in forming equipment because glass does not wet platinum and the metal withstands extreme temperatures and corrosive melts[1][3].[1]
– Electronics and data storage: Platinum and its alloys are used for electrical contacts, electrodes, and coatings in hard disk drives and other electronic parts because of stable electrical and magnetic behavior[1][2].[1]
– Hydrogen technology and fuel cells: Platinum is the leading catalyst for proton exchange membrane fuel cells and for reactions in hydrogen production and purification, which links platinum demand to any growth in hydrogen energy and fuel cell vehicles[2][6].[2]
Drivers of industrial demand
– Industrial process growth: Expansion of petrochemical capacity, glass manufacturing, and electronics production increases demand for platinum catalysts and equipment materials[1].[1]
– Emission regulations: Stricter vehicle emission standards and industrial pollution controls tend to raise demand for catalytic converters and related catalyst loadings[2].[2]
– Energy transition dynamics: Adoption of fuel cells and green hydrogen technologies creates new industrial demand for platinum catalysts; analysts note that a growing hydrogen economy and possible structural supply deficits could boost platinum’s industrial role[6].[6]
– Technology substitution and competition: Palladium and rhodium can substitute for platinum in some catalytic applications; shifts between these metals and to electrification of transport (battery electric vehicles) can reduce or reallocate platinum demand[5][8].[5]
Limitations and constraints affecting industrial demand
– Price sensitivity and substitution: High platinum prices have historically encouraged substitution by less costly metals (for example palladium in some gasoline catalysts), changing industrial consumption patterns[5][8].[5]
– Supply constraints: Platinum is relatively rare and concentrated in a few mining regions, so supply tightness or geopolitical/mining disruptions can affect availability and industry purchasing decisions[1].[1]
– Technology shifts: Long‑term declines in internal combustion engine vehicles in favor of battery electric vehicles would reduce demand for platinum in catalytic converters, though fuel cell adoption would counterbalance some of that loss[2][6].[2]
Examples of specific uses in industry
– Refining catalysts: Platinum supports reactions like reforming and hydrogenation to increase octane and produce intermediates for plastics and detergents[1].[1]
– Glass production: Platinum rams, bushings, and alloy components guide and shape molten glass for LCD and specialty glass manufacturing at temperatures up to about 1650 degrees Celsius[1].[1]
– Medical devices and electronics: Beyond catalysts, platinum’s biocompatibility and conductivity make it useful in pacemaker electrodes, medical implants, and precision electrical contacts in industrial electronics[1][2].[1]
Sources
https://www.mordorintelligence.com/industry-reports/platinum-market
https://en.wikipedia.org/wiki/Platinum
https://thormetalsgroup.com/resource/december-12-2025-why-a-structural-deficit-and-hydrogen-economy-could-boost-platinum/