BASF has successfully developed and tested an innovative Tri-Metal Catalyst technology, which can use palladium made of palladium, which is more expensive on light-duty gasoline vehicles, in compliance with emission standards The lower price platinum replaces.
The use of this trimetallic catalyst can reduce the cost of automobile manufacturers' catalytic converters, and rebalance the market demand for platinum group metals to a certain extent, thereby improving the sustainability of the platinum group metal market.
So far, in the extensive research and development and testing conducted by BASF, it has been found that this new technology can successfully meet the technical specifications of customers.
The annual output of palladium is slightly higher than platinum. However, the current demand for palladium in the automotive catalytic converter industry is three times that of platinum, resulting in a deficit in the palladium market, which is in sharp contrast to the current oversupply in the platinum market.
The increase in demand for palladium is largely due to the tightening of emission regulations in China, Europe and India, and the transition of the European market from light diesel vehicles to light gasoline vehicles, which has led to market imbalances and also brought more High cost.
The three-metal catalyst developed by BASF is the result of its cooperation with South African gold, palladium and platinum producer Sibanye-Stillwater and South African mining company Impala Platinum. The catalyst can ensure a stable supply, and is expected to reduce the cost of automakers.