Learn About the Industrial Uses and Applications of Silver
Silver’s use in the investment sector is well established, and it is often the first thing that people think of. But Silver is an important Precious Metal for many reasons. There are plenty of applications where Silver is used besides commerce.
Silver’s price is driven by factors including industrial demand. The same properties that make it a natural choice for money make it a useful metal for various applications. It is ductile and easily able to be drawn out into wire. It is less reactive than many metals and extremely conductive of both heat and electricity. Gold can be a better option in some applications, but Gold is much more expensive, and Silver’s price makes it more usable.
The Varied Applications of Silver
Electronics are the most common application of Silver, mainly due to its high conductivity. Silver is used in critical electronic circuits across a wide variety of industries, including the automotive industry. Silver in its metal form can be used for wires and contacts but broken down into Silver nitrate; it’s also useful in paste form.
Silver nitrate is essential for photovoltaic cells, and solar demand affects the metal’s price. Solar technology uses Silver as part of its collection mechanism.
Silver is used for its antimicrobial qualities in a variety of applications. Caustic pencils, used for warts and corns, are one application. Silver is also part of many deodorants. Lab coats used in medical applications often have Silver embedded. Some seals on food products also have Silver embedded in the seal. It’s also used to slow down the rotting process for some wood used outdoors.
Catalysts of all types benefit from Silver’s qualities as well. Silver is used to creating catalysts for industrial applications covering many different manufacturing types, including the most common plastics we use in our everyday lives. Ethylene oxide from catalysts is used for polyester. Other catalysts are used for formaldehyde, which is in many textiles, adhesives, insulators and more.
Silver is used in a variety of pigments, especially in stained glass. It also sees use in photography and printing. Both regular and 3D printing use Silver in inks. Silver oxide is also used for long-lasting batteries.
Silver’s demand owes much to financial markets; it also owes much to its many industries’ uses. Silver is an instrumental metal in its many different forms, and whether it was precious or not, it would still be a prized commodity for its properties. Its wide variety of uses makes Silver demand what it is and keeps the price up, and new applications are found every year. Though you might not want Silver yourself to create electronic circuits, that usage will affect the price. Be aware of what goes into the price of your financial assets, and you’ll have a better grasp of what they’re worth. APMEX is here for all your Silver needs. Keep up with the spot prices of Precious Metals and buy Silver with us.
Learn more about the history of Silver prices here.