Palladium is used as a catalyst for precious metals because it is easy to process and hard to oxidize. It belongs to the same platinum group as platinum and is classified as a noble metal. It excels in absorption properties and has the lowest density and melting point among inactive metals, so it has excellent workability. Because of this, it is widely used in various industries, and the demand for investment is increasing in recent years.
Global demand for palladium is declining due to limited supply and high demand. For this reason, palladium is now rarer than gold or platinum. Due to the scarcity and increasing demand for precious metals, palladium has attracted many investors.
The historical background of palladium is unique compared to other metals, and unlike gold, silver and platinum, it was excavated in platinum ore. The discovery of palladium by a British chemical physicist who separated palladium and rhodium from platinum ore in South America led to further studies of the separation from ore. Palladium was recovered as a platinum by-product (bipro) and gradually gained popularity, and was named palladium after the newly discovered asteroid Pallas at the time.
Unlike other rare metals, palladium is extracted mainly as an auxiliary production of platinum and nickel (bipro). Despite being cheap, palladium is said to be much more rare than gold or platinum. Palladium is often used as a catalyst because of its low melting point and resistance to rust and discoloration. Similar properties to platinum, but different from other precious metals:
Excellent absorption, especially strong hydrogen absorption properties Market supply and industrial production are rarer than gold and platinum malleable and ductile like gold Gold has low hardness among noble metals Platinum-based metal Palladium, which has the lowest melting point, is in high demand in the automotive industry, with autocatalysts accounting for about half of total demand.
Also widely used as a catalyst for various reactions, palladium is also used for industrial applications in medical equipment and electronics. As ornaments, palladium-based alloys such as white gold have begun to be produced.