Cerium Oxide Nanoparticles Market

Cerium Oxide Nanoparticles Market Outlook (2022-2032)

A newly-released report by Fact.MR shows that global sales of the Cerium Oxide Nanoparticles Market in 2021 were held at US$ 514.6 Mn. With 22.5% projected growth during 2022 – 2032, the market is expected to reach a valuation of US$ 4.6 Bn by 2032. The polishing applications segment is expected to be the highest revenue-generating segment, with a projected CAGR of 24.2% during 2022 – 2032.

Attributes	Details
Global Market Size (2022)	US$ 604.9 Mn
Global Market Size (2032)	US$ 4.6 Bn
Global Market CAGR (2022-2032)	22.5%
U.S. Cerium Oxide Nanoparticles Market CAGR (2022 – 2032)	22%
Key Companies Covered	Cerion Plasmachem 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

Revenue of Cerium Oxide Nanoparticles Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

The value of the Cerium Oxide Nanoparticles Market increased at around 18.7% CAGR from 2017 to 2021.

The key revenue drivers which affect the Cerium Oxide Nanoparticles demand is the increase in the use of ceria nanoparticles in various applications, the increased focus of governments on nanotechnology research, and the increased government spending on pharmaceutical R&D.

One of the key factors fuelling the market growth is an increase in demand from the semiconductor and healthcare industries. The market for cerium oxide nanoparticles is on rise due to the quick adoption of polishing agents. The market is also increasing as a result of rising knowledge of bio-relevant characteristics and their uses in biomedical and catalytic processes. The rate of expansion of the cerium oxide nanoparticles market is positively impacted by technological advancement and the growing demand for these nanoparticles for the treatment of various ailments.

Additionally, Nanoceria to be used as an antioxidant in medical applications and their environmentally friendly synthesis will present attractive chances for industry expansion.

What Factors Are Propelling Cerium Oxide Nanoparticles Market Demand?

The key factors which are propelling the Cerium Oxide Nanoparticles Market demand are an increase in usage of cerium oxide nanoparticles in biomedical applications. Due to the presence of reactive oxygen species, cerium oxide nanoparticles are used for various biomedical applications. These particles imitate SOD, catalaze, peroxidase, and exhibit antibacterial, neurodegenerative, and neurotransmitter-repair properties.

Current research indicates that cerium oxide nanoparticles have antioxidant characteristics for other uses. Increased government funding to understand the potential applications of ceria nanoparticles will drive the demand for cerium oxide nanoparticles in biomedical applications.

Cerium oxide nanoparticles exhibit features that have drawn a significant interest in the creation of highly sensitive biosensors, including catalytic activity, fluorescence quenching, electrochemical capabilities, huge surface area, and oxygen transport ability.

The cerium oxide nanoparticles can be utilised as a standalone sensor or as a component of a conversion or recognition element. The incorporation of these nanoparticles in the sensor design will significantly boost the detection sensitivity.

The Cerium Oxide Nanoparticles are also utilised in the automotive industry as catalytic converters and fuel additive because the chemical can control particle emissions. Cerium can easily switch between the Ce3+ and Ce4+ transition states, which is why cerium oxide nanoparticles are used as catalysts.

Due to their ability to transport oxygen without degrading, these particles function as catalytic converters in automobiles. Depending on the ambient partial pressure of oxygen, Nanoceria can emit or absorb oxygen in the exhaust stream of an internal combustion engine. The rising demand for automobiles thus will help the demand growth for cerium oxide nanoparticles.

Cerium oxide nanoparticles are employed as an electrolyte in solid oxide fuel cells (SOFCs) for energy applications because of their capacity to store oxygen and chemical reactivity. While renewable energy sources like solar electricity, wind power, and others can help fight environmental issues like global warming, they are weather-dependent.

The best solution to this issue is fuel cells. Through a chemical reaction with oxygen and other oxidizing chemicals, a fuel cell is a device that transforms chemical energy from a fuel into electrical energy.

What Factors are Restraining the Growth of Cerium Oxide Nanoparticles Market?

The key factors which are restraining the growth of Cerium Oxide Nanoparticles are the high production costs and toxicity of the nanoparticles. Additionally, it is more challenging for the market for cerium oxide nanoparticles to grow as a result of rigorous regulatory regulations. The detrimental environmental effects of cerium oxide nanoparticles are also significant restraints of the market. Besides Cerium oxide nanoparticles have limited usage in biological applications and lighting systems due to their low brightness.

Region-wise Insights

Which Region is projected to offer the Largest Cerium Oxide Nanoparticles Market Opportunity?

During the projection period, North America is expected to be the largest Cerium Oxide Nanoparticles Market. Various factors that are responsible for it are the presence of the key producers and exporters of semiconductors in the region which continue to flourish.

The market's growth rate in the region is also boosted by the rising number of chemical mechanical planarization (CMP) applications and expansion in the healthcare industry. The government is supporting the region's chemical products sector with enhanced investment rules, a highly skilled workforce, and accessible infrastructure because the region is home to major international automobile businesses.

The regional market for cerium oxide nanoparticles is also expanding as a result of rising demand from numerous end-use industries, including gasoline additives, medical implants, UV filters, energy storage devices, and fuel cell.

Due to their adaptable characteristics and electronic configurations, cerium oxide nanoparticles have potential applications in energy storage products, personal care products, and glass mirror polishes. They also exhibit antibacterial, neurodegenerative, and SOD, catalase, and peroxidase mimicking properties. Because of its antioxidant characteristics, cerium oxide is frequently used in biomedicine to treat nerve damage, heal damaged spines, and prevent oxidative stress-related disorders. This increased use of cerium dioxide nanoparticles in biomedical applications is what is anticipated to drive the market in the region.

Cerium oxide nanoparticles are employed in energy applications as an electrolyte in solid oxide fuel cells (SOFCs) because of their capacity to store oxygen and chemical reactivity. The demand for solar, wind, and other renewable energy sources is rising in North America in response to environmental issues including global warming.

Since more people are becoming aware of sunscreens and other skin care products, there is a huge increase in the demand for personal care goods. UV filters made of Nano ceria are used in sunscreen products. They also include biological oxidation qualities that make them a top choice for personal care products. Cerium oxide Nanoparticles thus also end up being used in personal care products as a result.

Country-wise Analysis

Which Country Lies at the Centre stage for Cerium Oxide Nanoparticles Market Revenue?

The United States is expected to account for the highest market of US$ 1.4 Bn by the end of 2032. It is expected to be projected to account for an absolute dollar growth of US$ 1.2 Bn. The rise in health issues in several nations has fuelled the market for cerium oxide nanoparticles.

The support and funding provided by the government entities are also facilitating the growth of the Cerium Oxide nanoparticles market in the country. For instance, The National Nanotechnology Effort (NNI), a US government research and development (R&D) initiative, received more than US$ 1.4 billion in total funding from the federal budget in 2017.

Total spending on NNI since its beginning in 2001 has totalled over US$ 24 billion. The National Science and Technology Council's president asked for more than $1.7 billion in the 2021 budget in 2020. Moreover, the country has Industry leading companies such as Cerion, American Elements, Inframat Advanced Materials, NYACOL Nano Technologies and Nanophase Technologies which are facilitating the growth of the Cerium Oxide Nanoparticle Market growth in the country.

Category-wise Insights

Why Dispersion form is projected to Witness the Fastest Growth among Cerium Oxide Nanoparticles Forms?

Dispersion form of Cerium Oxide Nanoparticle is anticipated to witness the largest market growth during the projection period, with a historical market growth of 19.3% and a projected growth of 23.5% during 2022–2032. Given that the particle size can be maintained and agglomeration of the particles in the dispersed form is prevented, the dispersion segment dominates the cerium oxide nanoparticle market in terms of volume and value.

Which Application of Cerium Oxide Nanoparticles is expected to be Most Lucrative?

Cerium Oxide Nanoparticle finds its highest utility in polishing application. In the creation of anti-corrosion coatings for metals and alloys, cerium oxide nanoparticles are frequently utilized in chemical mechanical polishing and planarization procedures. As the glass and construction sectors increase, polishing applications are predicted to see the highest growth rate for cerium oxide nanoparticles. Additionally, they are employed to polish and soften dings on mirror bevels, table edges, and automobile glass.

The usage of cerium oxide nanoparticles for polishing is made possible by variables including the low Moh's hardness of the cerium oxide nanoparticles. According to research, it has more advantages, such as a fast polishing speed and good polishing quality, than other conventional inorganic abrasives and is therefore more suited for chemical mechanical polishing (CMP) on glass substrates.

In recent years, as nanotechnology has advanced, the advantages of nanoparticles' tiny size and significant surface contact effect have given related composite abrasives improved polishing characteristics. The polishing process's surface quality and grinding speed have been significantly increased, which has decreased the costs involved. As a result, the use of cerium oxide nanoparticles for polishing has increasingly gained popularity in chemical mechanical polishing for end uses.

What was the impact of Covid-19 on Cerium Oxide Nanoparticles Market?

Cerium Oxide Nanoparticle pricing fluctuations during covid-19 had a significant negative impact on the market. During covid-19, there was a decline in the demand for cerium oxide nanoparticles in the chemical, electronics, cosmetics, and personal care industries. Production across these industries was halted as a result of the lockdown, which had a detrimental impact on the demand for cerium oxide nanoparticles market.

Competitive Analysis

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.

Cerium Oxide Nanoparticles Market Segmentation

• By Form :

  • Dispersion
  • Powder

• By Application :

  • Polishing
  • Catalyst
  • Biomedical Research
  • Energy
  • Other Applications

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA