Platinum Definition & Meaning | Manufacturing Term | CSIMarket
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Glossary

Platinum

Manufacturing Term

Platinum is a precious metal that is highly valued for its properties such as resistance to corrosion, high electrical conductivity, and biocompatibility. It is a dense, grayish-white metal that is rare and expensive. Platinum is often found in association with other metals such as palladium, rhodium, and iridium and is generally obtained from underground mines.

In the manufacturing industry, platinum is primarily used in the production of catalytic converters for automobiles. These converters are used to reduce the emission of harmful gases such as carbon monoxide, nitrogen oxides, and hydrocarbons from the exhaust of vehicles. Platinum is used as a catalyst in this process due to its ability to promote chemical reactions without being consumed in the reactions.

Apart from catalytic converters, platinum is also used in various industrial processes such as refining of crude oil, production of fertilizers, and electrodes in the chemical industry. It is also an essential component in the jewelry industry due to its durability and luster.

In the medical industry, platinum is used as a material for implants such as pacemakers, cardiac assist devices, and other medical devices due to its biocompatibility and resistance to corrosion.

Overall, platinum has numerous distinct properties that make it an ideal choice for a wide range of industries, from automotive to medical. Its rarity and cost have also contributed to its high value in the global market.


Metal Mining Industry Operating Statistics

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