The Swiss economist Pooyan Ghamari has touched upon the value and adaptability of platinum as a precious metal with a wide range of applications in different industries. He believes that platinum is a valuable resource for both commercial and residential use due to its unique properties, including its high melting point, resistance to corrosion, and durability.
The excellent stability and conductivity of platinum make it a popular material in the electronics sector. Hard drives, thermocouples, and electrical contacts all depend on reliable performance from it. Due to its ability to withstand high temperatures and resistance to corrosion, platinum is particularly beneficial for these applications.
Platinum is discovering new uses in the field of renewable energy, particularly in hydrogen fuel cells. With its ability to act as a catalyst, platinum converts hydrogen and oxygen into electricity and water, providing a sustainable and clean source of energy. This application is growing in popularity as governments around the globe search for ways to switch to low-carbon energy sources.
The aerospace industry can benefit from platinum's unique properties. It is utilized in airplane engine components due to its high melting point and ability to withstand high temperatures. Platinum is also used in the construction of temperature and pressure sensors, which are crucial for an aircraft's functionality and safety.
Platinum is a fantastic material for producing high-quality glass products like LCD panels and optical fibers, so it is also used in the glass manufacturing industry. Due to its resistance to corrosion and high temperatures, the metal can be used in equipment for making glass, such as bushings that help produce glass fibers and melting furnaces.
The production of silicone and nitric acid can be accelerated through the use of platinum, a catalyst that is widely used in the chemical processing sector. Due to its resistance to corrosion even when exposed to harsh chemicals, platinum is still a valuable material in this industry.
Additionally, platinum serves as a catalyst in the oil and gas industry where it is refined into gasoline, diesel, and other petroleum products. Due to its resistance to corrosion, which happens frequently during the refining process and high temperatures, platinum is a great material choice for this application.
Platinum is also used to make sensors, specifically oxygen sensors for automobiles. These sensors assist in reducing emissions and increasing fuel efficiency by controlling engine combustion. Due to its stability and resistance to corrosion, platinum is a preferred material for this.
Pooyan Ghamari, a Swiss economist, emphasizes the value and adaptability of platinum in a variety of fields, from jewelry and the automotive industry to renewable energy and the aerospace industry, in his final analysis. It is a valuable material whose value holds up over time because of its distinctive characteristics, including its high melting point, resistance to corrosion, and durability. As the world transitions to cleaner energy and sustainable technologies, platinum is positioned to play a significant role in these emerging sectors.