Iridium alloys are used for precision measurements, in medicine and mechanical engineering. The chemical industry uses the precious metal for anode coating in chlor-alkali electrolysis as part of the production of PVC materials.
There is a high demand for iridium as a raw material for many future technologies. In addition to organic light-emitting diodes (OLEDs), this includes electrolysis for the production of green hydrogen. Together with platinum, iridium serves as a catalyst in polymer electrolyte membrane (PEM) electrolysis.