With more people mining it, eventually, it’s going to disappear. Like platinum, palladium isn’t in high supply. Yet, palladium is also useful in the electronics industry.Īs a result, you have a lot of different industries all trying to get their hands on the same expensive resource. They expect them to produce cars that don’t produce as many emissions. More and more countries have an interest in cutting emissions.Īs such, they’re implementing stricter standards on car manufacturers. Palladium plays an important role in helping curb emissions in catalytic converters. The problem with it being useful in so many different industries is that it’s leading to more and more expensive prices for palladium. However, palladium has many other uses in both the automotive and the electronics industries. Like platinum, it’s also used in jewelry-making. Palladium is another precious metal used to make catalytic converters. Platinum isn’t the only precious metal used in catalytic converters. Since platinum is expensive, they have to cover that cost by putting an expensive price on their converter.Ĭatalytic converters are expensive because they are made of platinum which is an expensive precious metal. Platinum makes catalytic converters expensive because manufacturers have to spend a lot of money on sourcing platinum. The only platinum in the world will be the existing products that are made of it. Since the value of precious metals primarily comes down to their weight, platinum has a higher value.Įventually, miners won’t be able to procure it any longer. Platinum is also denser and heavier than gold and other precious metals. That’s because platinum has a greater level of durability than gold. Some varieties can be even more expensive than gold. Platinum is a popular material that’s used in jewelry making. One of those precious metals is platinum. Let’s look at these factors in more detail.Ī catalytic converter is made of a few precious metals. The average price of a catalytic converter is between $150 and $1,200.Ĭatalytic converters can be expensive based on factors such as the cost of materials used to make them, the quality of production, the high demand for them, and the type of converter they are. Why Are Catalytic Converters So Expensive? (10 Reasons) If you need to buy a new catalytic converter, then you might also wonder why they’re so expensive. While they may sound valuable, you may wonder why thieves have an interest in them. They make harmful toxins and gases less harmful. You may have heard before that some thieves target certain vehicles for their catalytic converters.Ĭatalytic converters are essential in making running a car safer.
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