Catalysis 2023 Issue

3,000.00

300

Platinum Palladium

Commercial FCC unit transition from Pt COP to COP-NP NOx drops by ~70%

250

2,500.00

200

2,000.00

Pt COP

150

1,500.00

100

1,000.00

COP-NP

500.00

100

120

Days

the cost difference between platinum and non-platinum promoters weighted against post-treater costs such as cat- alyst, electricity, and ammonia can provide an opportunity for cost savings. Cost of platinum vs non-platinum promoters Due to their high content in platinum-group metals (PGM), combustion promoters bear the brunt of PGM price fluc - tuations, which are mainly influenced by changes in supply and demand. As far as platinum is concerned, about one-third is used in autocatalyst (mainly for light- and heavy-duty diesel vehicles), about 30% in industrial segments (petrochemicals, petroleum refining, glass industries), 25% in jewellery, and the rest in investment. 3 During the Covid crisis, autocatalyst demand plunged by 22%, with steep falls in European diesel car production. Meanwhile, supply also contracted by 20% due to processing outages and pandemic-related disruption in South Africa. As overall changes in supply and demand were nearly identical, the platinum market continued to be in moderate deficit, as it was pre-pandemic. The platinum mar - ket moved into surplus in 2021 as supplies recovered and investment purchasing collapsed. Consequently, platinum prices have been decreasing. Regarding palladium, the vast majority is used in auto - catalysts (85%) and about 15% in industrial applications (chemical, dental, and electronic industries). 3 During the Covid crisis, the plunge in vehicle output was partly off- set by higher palladium loadings on gasoline vehicles, and therefore led to a less drastic decrease in demand in auto- catalyst (about -12% vs pre-pandemic). Meanwhile, supply was severely hit by mine closures and processing outages. Consequently, the palladium mar- ket remained in significant deficit, driving the price above $2,000/TOz from early 2020. Availability of palladium improved progressively as South African supplies recov- ered from processing outages. However, palladium prices remain high and volatile, recently reflecting the exposure to Russian supply. Palladium prices increased steadily over the last five years or so, whereas platinum prices remained relatively stable Figure 2 Reduction of NOx emissions by 70% at an FCC unit switching from a platinum-based to a non-platinum- based promoter

at around $1,000/Oz (see Figure 3 ). Palladium is now at a premium of ~125% vs platinum. This overall change in pal - ladium vs platinum has driven Johnson Matthey to complete extensive research on a lower palladium content CO pro - moter with optimised metal dispersion over the additive. CO promoter additive with high metal dispersion – laboratory-scale study Johnson Matthey has leveraged knowledge gained from the hydrogen, renewables, and autocatalyst industries to opti- mise the metal support interaction and disperse palladium more efficiently, hence enhancing CO promotion efficiency on the palladium-based promoter. A uniform metal distribution across the CO promoter par - ticle allows optimal distance between the active metal clus- ters, which in turn reduces their rate of sintering. Sintering is the agglomeration of metal particles under operating conditions that leads to permanent loss of CO promotion activity (deactivation). Modifying the support to provide a strong metal-support interaction further reduces the rate of agglomeration by inhibiting migration of the active metal clusters. Figure 4 exhibits electron probe micro-analyser (EPMA) cross-sectional images showing the enhanced dispersion in the modified support. Strong metal-support interaction ensures the metal is anchored as firmly as possible, lowering the rate of sintering. Figure 3 Platinum and palladium price evolution over the last six years, $/TOz4

Figure 4 1 EPMA elemental mapping assessing palladium dispersion on standard vs modified support

Catalysis 2023