Catalytic Converters
Palladium has long been well known as an excellent catalyst for many chemical reactions. Far and away the greatest use for palladium as a catalyst is found in catalytic converters where it has an oxidizing effect. The palladium in a catalytic converter allows carbon monoxide to convert to carbon dioxide with only the excess heat of the car's combustion being required to drive the reaction. Hydrocarbons with incomplete combustion that interact with the palladium will finish their combustion to form water and carbon dioxide.
Chemical Processing
Palladium is also used as catalyst in numerous chemical reactions. Its ability to enable hydrogen exchange finds use in manufacturing the precursors of nylon and synthetic rubber. Catalytic reforming processes to produce high octane fuels from naphtha and gasoline feed stocks use palladium catalysts at high temperatures. Palladium can also be used as a catalyst in hydrotreating oil products, which is the replacing of sulfur or nitrogen on carbon chains with hydrogen for cleaner burning fuels.
Gold Substitute
The price of palladium is significantly less than gold. However, it shares many similar properties with gold, such as electric conductivity and malleability, which allows it to be an effective substitute for gold in many applications. Palladium is used instead of gold to plate electronic connectors in many high technology applications. Palladium can also replace gold in dental crowns and bridges. Palladium can be a direct substitute for white gold in jewelry and can also be alloyed with gold to produce white gold.
Fuel Cells
In the quest for alternative energy methods, fuel cells are becoming a popular method of producing on-demand energy without hazardous exhaust gasses. While palladium is rarely used as the catalyst in fuel cells, it can play a key role on the hydrogen side of the reaction. Palladium is often used as a catalyst in purifying hydrogen. Palladium also has some unique hydrogen storage properties, as it is able to store huge amounts of hydrogen as palladium hydride, which can then be released at a later time.