A new platinum alloy has recently been launched with the potential to transform platinum jewellery design and manufacturing. Established by Platinum Guild International (PGI) USA, Inoveo Platinum has been co-developed by the mining company Anglo American and materials designer and developer Alloyed, following years of research and development.
Comprised of 95% pure platinum, Inoveo Platinum has been formulated in response to the challenges designers and jewellers can experience when working with platinum, which often requires greater expertise and craftsmanship than other precious metals. The alloy was strategically created to reflect the workability of white gold, while enhancing all the core properties of platinum, including its naturally white colour, durability, and wear resistance.
Commenting on this new development, Jenny Luker, President, PGI USA, said:
“The launch of Inoveo Platinum provides the jewellery industry with the best of what platinum offers as the world’s most precious metal, while also providing the ease of workability that manufacturers and designers have come to expect in production.
We believe this is a tipping point for the use of platinum in jewellery manufacturing and look forward to seeing an increase in new platinum offerings in the market in the near future.”
Users of the new alloy can expect to experience benefits including up to four times less porosity and four times higher production yield, with Inoveo Platinum being 40% harder than standard platinum alloys.
Picture credit: PGI
In addition, Inoveo Platinum offers casters a smoother, more consistent fill due to its lower melting temperature and high fluidity. It also allows for faster polishing and setting times, leading to a lower rejection rate compared to standard platinum alloys.
Jewellery demand growth
Jewellery is the third largest demand segment for platinum, accounting for between 23 and 30 per cent of total annual platinum demand over the last five years. Global demand for platinum jewellery is forecast to grow by 6% year on year in 2024 to reach 1,978 koz, with technology and innovation development increasingly being seen as key to achieving growth in the global platinum jewellery market in the face of strong competition from other precious metals.
Demand for platinum jewellery in North America is expected to grow by 2% year on year in 2024, thanks partially to wider price differentials to gold, maintaining the strong growth achieved in this market since 2020.
