If platinum could speak, it would have countless tales to tell. Aside from gracing the display cases of America’s finest jewelers and worn by Hollywood celebrities, it takes on many different roles that traverse across industries. At PGI USA, we honor platinum for its inimitable beauty in jewelry, but its role in the automotive, industrial, and investment worlds are also important and in some cases, irreplaceable. Let’s dive into these other areas where platinum also plays a starring role.
Platinum and the Automobile Industry: A Unique Love Story
Encompassing a sizable 31-46% of total platinum demand over the last five years, the automobile industry has been smitten with platinum’s catalytic and conductive properties for years. Platinum takes center stage in diesel auto catalysts, where it plays the hero in reducing vehicular emissions. In fuel cell electric vehicles (FCEVs), platinum’s superior catalytic prowess is poised to provide a plot twist in our current transportation narrative. Slated to contribute significantly to automotive demand by the mid-2030s, FCEVs present platinum with a future as bright as the metal itself.
Platinum and Industrial Manufacturing: The Unsung Hero
In an equally compelling supportive role, platinum’s unique properties make it essential to a variety of businesses in the industrial world, accounting for 26-36% of total demand. Whether it’s enhancing the yield of high-octane fuel or producing glass for LED screens, platinum’s versatility is truly astonishing. But perhaps its most essential role comes in the medical industry, where its human biocompatibility properties are used to treat cancer and manufacture pacemakers.
Platinum and the Investment Industry: Platinum’s Thrilling Ride
Platinum’s role in the investment world has been nothing short of a thriller, fluctuating between -10% and 20% of total demand in the past five years. From serving as a shiny nest bar egg in retirement plans to being immortalized in China’s platinum panda coin, platinum’s position in the investment sector is a testament to its enduring allure.
Platinum’s multifaceted role across diverse industries illustrates that its value extends far beyond its shiny surface. For those of us in jewelry, every piece of platinum jewelry sold is not just a symbol of style and luxury, but part of a larger global story that continues to unfold.