Sustained Global Platinum Deficits Squeeze Industrial Manufacturing Procurement
Procurement teams must prepare for rising metal procurement costs as the global platinum supply deficit reaches 297,000 ounces.
Automotive Catalytic Converters
Emission Control Function
Exhaust treatment devices facilitate the chemical reduction of toxic gases and pollutants in internal combustion engines. These automotive catalytic converters rely on a honeycomb structure coated with precious metals to trigger oxidation and reduction reactions. The unit converts carbon monoxide and hydrocarbons into carbon dioxide and water vapor.
It remains the standard component for meeting environmental regulations in petrol and diesel vehicles.
Component Material Composition
Active surfaces within the assembly consist of washcoats containing specific catalysts. Ceramic substrates provide a high surface area for the thin layer of platinum, palladium, rhodium or iridium. Modern automotive catalytic converters vary in metal loading based on engine size and regional air quality standards.
Because these metals are rare, the units represent a large portion of a vehicle’s manufacturing cost. Prices for these components track the spot markets for the included elements. Thermal management is necessary to ensure the metals reach light off temperature quickly for maximum efficiency.
End of Life Recovery
Recycling programs capture the metallic value from spent units once a vehicle reaches the end of its operational life. Decanned automotive catalytic converters undergo smelting and refining to extract the high-value materials. Recovery rates depend on the efficiency of the collection network and the prevailing market price of the metal.