Platinum is a rare metal and the world’s third most traded precious metal after gold and silver. Platinum demand varies greatly across several industries. Platinum metal is most commonly utilized in auto-catalysts, jewelry, as well as medical and industrial applications.

Those considering investing in platinum should be aware of the several applications for the metal. After all, knowing which businesses require platinum allows you to understand supply and demand dynamics better and predict how the precious metal’s price will shift in the future.

Take a look at the list of the eight main uses of platinum.

Platinum Can Help Treat Cancer

Platinum tends to reduce and fight cancer cells. Cisplatin was the first platinum-based chemotherapy treatment discovered by researchers, which is still used today.

Use In Air Bags

Automotive airbags are coated with platinum-cured silicones to shield them from any accident. These airbags are secure and long-lasting, thanks to the platinum.

The airbag also has a special sensor, including a platinum wire covered with explosive material to help the airbag release.

Platinum Improves Personal Hygiene

The usage of silicones in elastomers is expected to rise significantly in the future. They have exceptional wound healing characteristics in that they tightly hold dry skin while avoiding harming moist wounds. Silicones are permeable to oxygen and moisture, which aids in the healing period.

Fuel Cells

The proton exchange membrane (PEM) fuel cell, which consists of platinum catalysts, is the most prevalent type of fuel cell. They’re used to power automobiles and can also power buildings in place of batteries or power generators.

Investments

Platinum is regarded as a desirable investment and a good strategy to protect investments from inflation. Platinum investing is becoming increasingly popular due to its relative shortage, past price performance, and unique properties.

Glass

Glassmaking equipment contains platinum and is utilized to produce glass for LCDs and fiberglass-resistant plastic and in making monitor screens.

Autocatalysts

One of the most common uses for platinum is the manufacture of autocatalysts, a circular cross-section cylinder. A catalytic converter is inserted in the exhaust lines of a vehicle, where it moderates the hazardous effects of the exhaust.

Jewelry

Platinum has several properties that make it suitable for use in jewelry, and this is the second most common usage for metal. The metal is tough, tarnish-resistant, and can be heated and cooled repeatedly without hardening or oxidizing.

If you’d like to benefit from this rare metal, invest in platinum coins at Orion Metal Exchange. We’re one of the top companies in gold, silver, and platinum investments. We have over 50 years of experience in the precious metals industry. Feel free to contact us if you need further assistance with your investments; we excel in helping our clients with intelligent recommendations and smart choices.

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