According to TechSci Research report, “Cerium Oxide Nanoparticles Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Cerium Oxide Nanoparticles Market stood at USD 565.23 million in 2022 and is anticipated to grow with a CAGR of 12.44% in the forecast period, 2024-2028.
The surge in demand for cerium oxide nanoparticles is a significant driver of revenue growth across a diverse spectrum of sectors, encompassing healthcare, automotive, energy, electronics, and more. These nanoparticles find widespread utilization within these industries, catering to a multitude of purposes such as radiation shielding, fuel cells, cleaning processes, and catalytic applications, among others.
The healthcare industry notably capitalizes on cerium oxide nanoparticles due to their exceptional antioxidant properties, rendering them highly valuable in a range of applications including drug delivery, gene therapy, and cancer treatment. Furthermore, the escalating demand for cerium oxide nanoparticles within the healthcare sector is intimately linked to the increasing prevalence of chronic ailments such as cancer, cardiovascular diseases (CVDs), and neurological disorders. This prevalence is a significant driving force behind the market’s revenue growth trajectory.
Moreover, the automotive sector stands as a prominent consumer of cerium oxide nanoparticles, particularly in the context of creating automotive catalysts. These catalysts play a crucial role in reducing harmful emissions emitted by vehicles, and the utilization of calcium oxide nanoparticles is integral to their production. The escalating requirement for cerium oxide nanoparticles within the automotive domain is primarily driven by stringent government regulations that are aimed at curbing emissions from automobiles. These regulations have instigated a growing need for advanced solutions, spurring the demand for cerium oxide nanoparticles in the automotive industry.
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Furthermore, Cerium oxide nanoparticles find extensive applications in the electronics sector, serving various functions such as display screens, memory devices, and sensors, among other applications. Additionally, the upsurge in research and development initiatives in the field of nanotechnology, coupled with a strong emphasis on producing environmentally friendly and sustainable products, is anticipated to be a driving force behind the growth in market revenue.
The utilization of cerium oxide nanoparticles is on the rise within a multitude of environmental applications, spanning from wastewater treatment and air purification to radiation protection, all contributing to the expanding scope and demand for these nanoparticles, which will create beneficial opportunities for the growth of the cerium oxide nanoparticles market.
Global Cerium Oxide Nanoparticles Market is segmented into form, application, regional distribution, and company
Based on its form, the dispersion segment has emerged as the predominant market leader. Cerium oxide nanoparticle dispersions encompass suspensions of cerium oxide (ceria) nanoparticles within water or organic solvents, like ethanol or mineral oil. The concept of nanoparticle dispersion, ranging from entities as minuscule as atoms to microparticles, has garnered substantial attention. These particles, possessing a diverse array of specialized functionalities, enhance our comprehension of the natural world while also serving as a foundation for the advancement of novel cutting-edge technologies.
Furthermore, in the upcoming period, significant expansion is projected for the powder segment of nano cerium oxide. Nano cerium oxide powders find application across a wide spectrum of fields, including catalysts, fuel cells, solid oxide fuel cells, oxygen sensors, abrasive agents, and as additives in various materials. These powders’ amplified surface area and heightened reactivity render them highly valuable for catalytic processes, where both efficiency and performance are of paramount importance. Additionally, their distinctive optical properties are harnessed in applications associated with optoelectronics and photonics.
Based on application, the energy storage segment commands the highest share of revenue. The nanoceria market is on the cusp of substantial growth, propelled by the rapid expansion of industries in emerging economies like India, China, and Japan. Its exceptional capability to act as a catalyst, proficiently absorbing or releasing oxygen without undergoing decomposition in combustion engines, along with its application as a fuel additive in energy storage systems, is set to drive the demand for nanoceria in the foreseeable future.
Particularly promising is the potential growth in the energy storage sector, where nanoceria’s distinct capacity to function as a catalyst, facilitating the absorption and release of oxygen within combustion engines, holds great significance. Additionally, the polishing agent sector is projected to experience noteworthy expansion over the forecast period.
Cerium oxide nanoparticles have gained popularity as polishing agents in industries such as glass, optics, and semiconductors, owing to their impressive polishing efficiency and cost-effectiveness. The demand for these nanoparticles is steadily rising due to the increasing requirement for high-quality glass and optical components across various end-use sectors. Furthermore, as the demand for advanced semiconductor devices and electronics continues its upward trajectory, the usage of cerium oxide nanoparticles as polishing agents is poised to become even more prevalent within the semiconductor industry in the coming years.
Based on region, North America took center stage as the leading contender in the global cerium oxide nanoparticles market owing to its robust automotive sector. The stringent emission regulations prevalent in this region serve as a driving force for the demand for advanced catalyst materials, and cerium oxide nanoparticles are at the forefront of efforts to mitigate harmful exhaust emissions. Furthermore, North America is making significant strides in the field of energy storage, encompassing the domain of electric vehicles and renewable energy technologies.
This surge in demand further augments the utilization of cerium oxide nanoparticles, finding applications in crucial areas such as lithium-ion batteries and other energy storage solutions. Adding to North America’s supremacy in the cerium oxide nanoparticles industry is the presence of well-established research institutions, constant technological advancements, and an ever-growing emphasis on research and development within the realm of nanotechnology.
These factors collectively contribute to North America’s leadership position in harnessing the potential of cerium oxide nanoparticles to drive innovations in various industrial applications.
Major companies operating in the Global Cerium Oxide Nanoparticles Market are:
- Meliorum Technologies, Inc.
- Nanophase Technologies Corporation
- SkySpring Nanomaterials, Inc.
- Nanostructured & Amorphous Materials, Inc.
- Inframat Advanced Materials, LLC
- American Elements
- Reinste Nano Ventures Pvt Ltd.
- NYACOL Nano Technologies, Inc
- Merck KGaA
- Nanoshel LLC
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“With the burgeoning scope of applications for cerium oxide nanoparticles, the significance of research and development (R&D) investments is growing as a fundamental pillar of market expansion. Various sectors, including industries, academia, and governmental bodies, are dedicating significant resources to delve into and unveil the extensive capabilities of nanoceria. This substantial investment is fostering a culture of innovation, resulting in the identification of new applications and the refinement of existing ones. The prevailing trend of intensified R&D investment underscores the profound transformative potential that cerium oxide nanoparticles are poised to bring to a multitude of industries creating a lucrative opportunity in the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Cerium Oxide Nanoparticles Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Form (Dispersion, Powder), By Application (Energy Storage, Polishing Agent, Personal Care, Pharmaceuticals, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Cerium Oxide Nanoparticles Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Cerium Oxide Nanoparticles Market.
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Table of Content-Cerium Oxide Nanoparticles Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- Voice of Customer
- Global Cerium Oxide Nanoparticles Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Form (Dispersion, Powder)
5.2.2. By Application (Energy Storage, Polishing Agent, Personal Care, Pharmaceuticals, Others)
5.2.3. By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)
5.2.4. By Company (2022)
5.3. Market Map
5.3.1. By Form (Dispersion, Powder)
5.3.2. By Application
5.3.3. By Region
- North America Cerium Oxide Nanoparticles Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Form
6.2.2. By Application
6.2.3. By Country
6.3. North America: Country Analysis
6.3.1. United States Cerium Oxide Nanoparticles Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Form
6.3.1.2.2. By Application
6.3.2. Mexico Cerium Oxide Nanoparticles Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Form
6.3.2.2.2. By Application
6.3.3. Canada Cerium Oxide Nanoparticles Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Form
6.3.3.2.2. By Application