The cerium oxide nanoparticles market is estimated to increase by 22.5% between 2022 and 2032, from a market value of US$ 514.6 million in 2021 to US$ 4.6 billion by that year. The cerium oxide nanoparticles market refers to the global demand and supply of nanoparticles of cerium oxide, which is also known as ceria. Cerium oxide nanoparticles have unique properties such as high surface area, excellent catalytic activity, and good thermal stability, which make them suitable for a wide range of applications in various industries.
The global cerium oxide nanoparticles market is expected to grow significantly in the coming years, driven by increasing demand from the automotive industry for catalytic converters, which reduce emissions from vehicles. Cerium oxide nanoparticles are also used in the production of polishing compounds for the semiconductor and optical industries, as well as in the production of solid oxide fuel cells and solar cells.
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Factors such as technological advancements, increasing investment in research and development activities, and rising demand from various end-use industries are expected to drive the growth of the cerium oxide nanoparticles market in the coming years. However, the market is also facing challenges such as environmental concerns and regulatory issues related to the use of nanoparticles
Key Takeaways from the Study
- Cerium Oxide Nanoparticles Market was valued at US$ 604.9 Bn in 2021. According to Fact.MR, Cerium Oxide Nanoparticles Market revenue would increase 7.6X between 2022 and 2032, reaching roughly US$ 4.6 Bn in 2032.
- In terms of Application Type, Polishing application is projected to account for the highest projected CAGR of over 23.3%. between 2017 and 2021.
- In terms of form, Dispersion form accounted for the highest CAGR of 19.3% during the historical period.
- US is the dominant country in Cerium Oxide Nanoparticles Market with an absolute dollar growth opportunity of over US$ 1.2 Bn.
The companies in Cerium Oxide Nanoparticles Market are focused on their alliances, technology collaborations, and product launch strategies. The Tier 2 Players in the market are targeting to increase their market share.
Some of the recent developments in the Cerium Oxide Nanoparticles Market are :
- In March 2022, BioCurity announced that the United States Patent and Trademark Office has granted BioCurity’s United States patent, which covers the use of the company’s cerium oxide nanoparticles to lessen radiation therapy side effects in patients with lung and pancreatic cancer who also receive chemotherapy as part of their treatment plan.
- In October 2021, Cerion LLC, one of the largest producers and consumers of cerium oxide nanoparticles, was acquired by Netum Group Ltd. With this acquisition, Netum expands both its footprint in the Turku economic zone as well as its resources for digital growth and knowledge management.
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Key Companies Covered
- American Elements
- Inframat Advanced Materials
- Nanophase Technologies
- NYACOL Nano Technologies
- Nanostructured & Amorphous Materials Reinste Nano Ventures Pvt Ltd
- PlasmaChem GmbH
- Meliorum Technologies, Inc
- Strem Chemicals, Inc