Platinum Applications

Of the 239 tonnes of platinum sold in 2006, 130 tonnes were used for vehicle emissions control devices, 49 tonnes for jewelry, 13.3 tonnes in electronics, and 11.2 tonnes in the chemical industry as a catalyst. The remaining 35.5 tonnes went to various other minor applications, such as electrodes, anticancer drugs, oxygen sensors, spark plugs and turbine engines.

Catalysis

The most common use of platinum is as a catalyst in chemical reactions, many times as platinum black. It has been employed in this application since the early 19th century, when platinum powder was used to catalyze the ignition of hydrogen. The most important application of platinum is in automobiles as a catalytic converter, which allows the complete combustion of low concentrations of unburned hydrocarbon from the exhaust into carbon dioxide and water vapor. Platinum is also used in the petroleum industry as a catalyst in a number of separate processes, but especially in catalytic reforming of straight run naphthas into higher-octane gasoline which becomes rich in aromatic compounds. PtO₂, also known as Adams’ catalyst, is used as a hydrogenation catalyst, specifically for vegetable oils. Platinum metal also strongly catalyzes the decomposition of hydrogen peroxide into water and oxygen gas.

Standard

From 1889 to 1960, the meter was defined as the length of a platinum-iridium (90:10) alloy bar, known as the International Prototype Meter bar. The previous bar was made of platinum in 1799. The International Prototype Kilogram remains defined by a cylinder of the same platinum-iridium alloy made in 1879.

The standard hydrogen electrode also utilizes a platinized platinum electrode due to its corrosion resistance, and other attributes.

As Precious Metal

Platinum is a precious metal commodity; its bullion has the ISO currency code of XPT. Coins, bars, and ingots are traded or collected. Platinum finds use in jewelry, usually as a 90–95% alloy, due to its inertness and shine. In watchmaking, Vacheron Constantin, Patek Philippe, Rolex, Breitling, and other companies use platinum for producing their limited edition watch series. Watchmakers appreciate the unique properties of platinum as it neither tarnishes nor wears out (relative to gold).

The price of platinum, like other industrial commodities, is more volatile than that of gold. In 2008, the price of platinum ranged from $774 to $2,252 per oz.

During periods of sustained economic stability and growth, the price of platinum tends to be as much as twice the price of gold, whereas during periods of economic uncertainty, the price of platinum tends to decrease due to reduced industrial demand, falling below the price of gold. Gold prices are more stable in slow economic times, as gold is considered a safe haven and gold demand is not driven by industrial uses. In the 18th century, platinum’s rarity made King Louis XV of France declare it the only metal fit for a king.

Other Uses

In the laboratory, platinum wire is used for electrodes; platinum pans and supports are used in thermogravimetric analysis because of the stringent requirements of chemical inertness upon heating to high temperatures (~1000 °C). Platinum is used as an alloying agent for various metal products, including fine wires, noncorrosive laboratory containers, medical instruments, dental prostheses, electrical contacts, and thermocouples. Platinum-cobalt, an alloy of roughly three parts platinum and one part cobalt, is used to make relatively strong permanent magnets. Platinum-based anodes are used in ships, pipelines, and steel piers.

Symbol of Prestige

Platinum’s rarity as a metal has caused advertisers to associate it with exclusivity and wealth. “Platinum” debit cards have greater privileges than do “gold” ones. “Platinum awards” are the second highest possible, ranking above “gold”, “silver” and “bronze”, but below diamond. For example, in the United States a musical album that has sold more than 1 million copies, will be credited as “platinum”, whereas an album that sold more than 10 million copies will be certified as “diamond”. Some products, such as blenders and vehicles, with a silvery-white color are identified as “platinum”. Platinum is considered a precious metal, although its use is not as common as the use of gold or silver. The frame of the Crown of Queen Elizabeth the Queen Mother, manufactured for her Coronation as Consort of King George VI, is made of platinum. It was the first British crown to be made of this particular metal

From Wikipedia, the free encyclopedia