Among these critical materials are platinum group metals (PGMs) due to their unique properties such as thermal stability, corrosion resistance, catalytic efficiency and electrical reliability. While AI is not yet classified as a discrete demand category within platinum markets, PGM demand across AI spans a range of existing industrial uses and proven technologies. AI applications are an emerging end market for PGMs. 

The main segments of PGM industrial demand (figure 2) that are benefiting from AI proliferation include: chemical (platinum catalysts in silicone production); electrical (hard disk drive platters and sputtering targets for thin film deposition on sensors and semiconductors); glass (E-glass fabrics); hydrogen (proton exchange membrane fuel cells for back-up power); and crucibles for crystal growing (categorised under ‘other’ demand).

It is too soon to quantify global PGM demand growth potential from AI, but WPIC data* indicates that platinum demand growth is already in evidence from areas such as silicone and fibreglass production, semiconductor fabrication and hard disk drives for data storage.

Platinum-cured silicone is known for its high-quality, flexibility, durability and resistance to extreme temperatures. Its properties make it ideal for thousands of applications requiring a reliable, safe and long-lasting material. 

Industries ranging from automotive to healthcare rely on platinum-based silicone products like seals, gaskets and even baby bottles. Notably, given its high purity, it is especially suitable for medical applications, where chemical stability, safety and non-toxicity are paramount.

Platinum catalysts are integral to the manufacture of silicones because they ensure a highly efficient and consistent curing process. For example, the chemical company WACKER uses platinum as a catalyst for the curing of crosslinking silicone release agents and for addition-curing silicone products. This efficiency translates to lower production costs and improved product quality.

The manufacturing process begins with silicone monomers, small molecules that link together to form polymers. When a platinum catalyst is mixed with the silicone monomers, it facilitates a reaction that leads to the formation of long silicone chains. This process is crucial because it determines the final properties of the silicone, including strength and flexibility.

In China, AI-enabled humanoid robots represent the fastest-growing emerging application for platinum-cured silicone. Thanks to its purity and biocompatibility, it is a key material for human-like interactive experiences, primarily being used in facial ‘skin,’ hand coverings and joint cushioning, where realistic touch and temperature matter. 

Global chemical demand for platinum is expected to grow in 2026, increasing 6% year-on-year to 612 koz, supported by modest growth in the silicone sector. 

AI applications generate and process vast volumes of data, making storage infrastructure critical. Despite competition from solid-state drives (SSDs), hard disk drives (HDDs) remain indispensable due to their cost efficiency at scale. 

Platinum plays a crucial role in HDD manufacturing, particularly in magnetic media coatings that enhance thermal and magnetic stability. The evolution of Heat-Assisted Magnetic Recording (HAMR) technology marks a significant advancement. By enabling higher areal densities, HAMR allows more data to be stored without increasing device size or power consumption. 

This shift toward higher-capacity drives has increased platinum loadings per unit. As AI-driven data centres expand, HDD production capacity is increasingly committed to meeting demand for high-performance computing and cloud storage applications. 

Sputtering is an established technology which enables a thin film to be applied to an underlying layer (substrate) by eroding or ejecting particles from a source material known as a sputtering target. The process is repeatable and can be scaled up from small research and development projects to production batches involving medium-to-large substrate areas of different shapes and sizes. Sputtering allows films that are only a few atomic or molecular layers thick to be deposited onto a surface. 

By using thin film technology, materials can be produced with specific, customized properties that are often difficult or impossible to achieve with other technologies. Thin films have assisted with the development of microelectromechanical systems (MEMS) and nanotechnologies within the field of electronics. 

In addition, thin film technology can often help to save material and costs, as only very small quantities of expensive or rare materials are required. The semiconductor industry uses platinum sputter targets as platinum’s conductivity and stability make it an ideal material for creating the thin films necessary to ensure efficient electron flow within a semiconductor.

Semiconductors are central to AI, enabling data processing, storage, and transmission. As AI systems become more sophisticated, semiconductor manufacturers are advancing toward smaller process nodes and more complex architectures. The growth of AI is driving strong demand for semiconductors, with significant investment in fabrication facilities and advanced manufacturing processes. This expansion directly supports increased demand for platinum in thin-film deposition technologies. 

Platinum sputtering targets are also used to produce platinum thin films for sensors in a wide variety of uses, including AI, where models need to be trained with large amounts of data. By combining AI models with sensors, such as thermal cameras, ultrasonic sensors, photocells, inductive sensors, radar sensors and motion sensors, the amount of data needed to train a model can be reduced. 

In 2026, platinum electrical demand is projected to increase 20% year-on-year to 119 koz, supported by AI-related HDD and semiconductor growth.  

Platinum glass demand is forecast to increase by 83% year-on-year to 377 koz in 2026, recovering from a low base of 206 koz in 2025 due to the cyclical absence of incremental new fibreglass capacity expansion last year. Growth will be driven by renewed expansion in fibreglass applications, supported by the return of capacity additions and stronger demand from higher value end-uses, including those linked to AI.

A unique feature of platinum is that it is a metallic element that is exceptionally resistant to heat and wear. In fibreglass production, platinum-rhodium bushings are used to draw molten glass into fine fibres at extremely high temperatures. Fibreglass made this way is used to produce electrical-grade glass (E-glass) yarn, which can be woven to create different types of E-glass fabric.

Known for its high strength and excellent electrical insulation, E-glass fabric is an important component in a printed circuit board (PCB), an electronic assembly that uses copper conductors to create electrical connections between components, allowing advanced semiconductors to communicate with each other at very high data rates. In a PCB, E-glass fabric is impregnated with epoxy resin and layered to form a substrate, the structural base of the PCB. Its job is to provide mechanical stability while ensuring the board can withstand heat and electrical stresses.   

Glass composition, thickness specification and weaving technology can all be altered during the E-glass manufacturing process to create materials with different characteristics. E-glass fabric in PCBs has been developed to exhibit low dielectric constant/low loss (low-Dk) properties to meet the demands of new technologies. Among other benefits, low-DK materials provide fast signal transmission and reduced signal loss. 

AI servers and data centre equipment cannot function without PCBs and, as AI workload increases, PCB designs are evolving to support higher speeds and frequencies, especially through the integration of low-Dk materials. 

According to the International Energy Agency, worldwide electricity demand from data centres is set to more than double by 2030 to around 945 terawatt-hours, more than the entire electricity consumption of Japan today. AI will be the most significant driver of this increase, with electricity demand from AI-optimized data centres projected to more than quadruple by 2030.

Yet the existing grid is struggling to cope with this additional demand, and the pace of AI adoption is driving a need for new power solutions, with a focus on energy resilience (including uninterrupted power supply) and low or zero-carbon energy options.

Data centre operators are developing their own tailor-made energy systems designed to deliver power faster, and in a way that is both reliable and sustainable. Platinum-based proton exchange membrane (PEM) hydrogen fuel cells are increasingly being incorporated into these future-ready models. 

Hydrogen fuel cells convert hydrogen gas into electricity through a chemical reaction with oxygen, producing only water as a by-product. PEM fuel cells are particularly well-suited for use in data centres because of their quick start-up times and high power density. They can provide reliable back-up power and are efficient in managing fluctuating energy demands.

For example, global provider of critical digital infrastructure, Vertiv Infrastructure Solutions, has partnered with Ballard to develop, supply and install a zero-emission, uninterrupted power supply system for data centres using Ballard’s PEM fuel cells. This back-up power application is scalable from 200kW to multiple megawatts.

Ballard has also worked with leading manufacturer of construction and mining equipment, Caterpillar, together with Microsoft, to successfully conclude a project to demonstrate the viability of using hydrogen fuel cells. The demonstration provided valuable insights into the capabilities of fuel cell systems to power multi-megawatt data centres, ensuring uninterrupted power supply to meet requirements.

It was conducted in a challenging environment and validated the hydrogen fuel cell power system’s performance at 1,855 m above sea level and in below-freezing conditions. The project simulated a 48-hour back-up for an external power loss event at Microsoft's data centre in Wyoming, United States. Elsewhere, Microsoft has collaborated with PEM fuel cell-provider Plug Power on a three-megawatt fuel cell designed for data centre use. 

Meanwhile, cloud computing firm Equinix has evaluated the use of hydrogen and hydrogen fuel cells for sustainable data centre back-up power generation in a study with the National University of Singapore’s College of Design and Engineering. Their analysis highlights PEM fuel cells as offering promising back-up power solutions.

Global platinum hydrogen demand is forecast to increase by 7% year-on-year to 69 koz in 2026.

In materials science, crystal growth is the process of arranging atoms or molecules into highly-ordered solid structures. For example, the Czochralski and Kyropoulos methods are used to produce crystals for a wide range of end uses. The crystal structures produced give materials predictable electrical, optical and mechanical properties – which is why crystals sit at the heart of technologies we use every day.

Industrially-grown crystals are found in smartphones, computers, LED lighting, medical imaging equipment and advanced sensors. Using the Czochralski method, silicon crystals form the wafers used in semiconductors. Here, a tiny seed crystal is introduced into a molten feedstock and slowly pulled upwards with the crystal growth occurring on the basal surface.

With the Kyropoulos method, sapphire crystals are grown for scratch‑resistant screens and optical windows. The seed crystal grows downwards into the molten raw material bath as temperature is slowly reduced. Both methods involved heating raw materials to exceptionally high temperatures. The molten materials can be highly corrosive and reactive, which is why specialist materials and instruments are needed.

With its high melting point (1,768°C), platinum is non‑reactive and stable, retaining its strength at extreme temperatures. These properties make it ideal for the crucibles used to hold and shape molten materials during crystal growth. Importantly, platinum does not contaminate the growing crystal, helping achieve the ultra‑high purity the end applications demand. 

At least four types of crystals that are grown using platinum crucibles are directly used to make optical interconnects for AI computing, covering functions from optical sources to signal transmission (akin to ‘nerve’ pathways). AI-related crystal growth is expected to increase demand for platinum (and iridium) crucibles.

AI represents a transformative force, but its success depends on physical infrastructure built from advanced materials. PGMs, with their unique properties, are integral to this foundation, playing a multifaceted role in the AI ecosystem with positive implications for PGM demand. 

^{*WPIC Platinum Quarterly Q1’26, May 18, 2026.}

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