In the first half of 2023, the iridium market experienced a steady price increase due to its essential involvement in harnessing water’s energy potential through hydrogen-oxygen separation. The Proton Exchange Membrane process saw heightened adoption, driven by eco-friendly fuel demand and economic inflation, contributing to continuous iridium price growth.
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Definition
Iridium is a chemical element with the symbol Ir and atomic number 77. It is a dense, corrosion-resistant, and silvery-white metal known for its exceptional hardness and high melting point. Widely used as a catalyst in various chemical processes, iridium also finds applications in electronics, spark plugs, and as a crucial component in certain scientific instruments.
Key Details About the Iridium Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Iridium in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Iridium Price chart, including India Iridium price, USA Iridium price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Iridium Price Trend:
Iridium holds vital roles across industries. In electronics, it’s utilized in connectors and high-temperature devices due to its stability. Catalysts employing iridium enhance chemical reactions, and its durability makes it crucial in spark plugs for internal combustion engines. It’s also integral to scientific equipment and niche applications in jewelry and pen tips.
Key Players:
- Umicore N.V
- BASF SE
- Russian Platinum
- Anglo American Platinum Limited
- Johnson Matthey
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