Cerium Oxide Nanoparticles Market Analysis by Product Form (Dispersion, Powder), by Application (Catalyst, Polishing, Biomedical, Energy Storage, Personal Care and Cosmetics), by Region - Global Forecast 2022-2032

Global Cerium Oxide Nanoparticles Market Outlook

The global cerium oxide nanoparticles market is estimated at USD 513.4 Million in 2022 and is forecast to surpass USD 3,010.8 Million by 2032, growing at a CAGR of 19.3% from 2022 to 2032.

The global cerium oxide nanoparticles market is likely to create an absolute dollar opportunity of USD 2,497.4 Million by the end of 2032. The global cerium oxide nanoparticles market holds ~30% of the global nanoparticles market.

2017-2021 Global Cerium Oxide Nanoparticles Market Outlook in Comparison to 2022-2032 Growth Forecast

Cerium oxide nanoparticles or nanostructured cerium oxide is rare earth metal oxide which plays technologically important role due to its versatile applications. They are synthetized by solution-based methods such as hydrothermal, co-precipitation, and others. In the recent years, cerium oxide nanoparticles have been gaining increasing application in biomedical research involving various therapeutic aspects.

This is likely to augur well with the growth of cerium oxide nanoparticles market. The demand for cerium oxide nanoparticles in medical field is rapidly expanding for its ability to reduce the symptoms of many oxidative stress-related diseases including chronic inflammation, diabetes, and others. In the automotive industry, cerium oxide nanoparticles are used as fuel additives and catalyst converter.

Cerium oxide nanoparticles have also attracted considerable attention in developing high-sensitive biosensors where they can be used as a whole sensor or a part of the transducer element. This has been envisaged to create potential growth opportunities of the cerium oxide nanoparticles market in the future.

Increasing research and development regarding the production of cerium oxide nanoparticles in developed nation of North America is expected to favor the market growth. Asia Pacific cerium oxide nanoparticles market is likely to witness a significant growth in the coming years owing to its surging demand in medical and automotive sectors.

Fact.MR projects the cerium oxide nanoparticles market is expected to witness exhibiting growth at 19.3% CAGR during 2022 and 2032 in comparison to a CAGR of 14.6% with which it grew from 2017 and 2021.

Characteristic Properties Supporting Market Growth

The key players in the market are focusing on leveraging the opportunities arising on account of applications in ultra large scale integration. Cerium oxide nanoparticles are expected to witness significant demand owing to their characteristic properties such as high ionic conductivity, radical scavenging and UV filtering. In addition, the demand for cerium oxide nanoparticles is positively influenced by their use across industries such as medical implants, energy storage devices, fuel cells and fuel additives. Moreover, application of cerium oxide nanoparticles has increased with its growing use in electronics sector, where it is used in chemical mechanical planarization.

7% Y-o-Y Semiconductor Revenue Growth in 2018 – A Positive Indicator for Stakeholders in Cerium Oxide Nanoparticles Market

The semiconductor industry is witnessing steady growth, with increase in memory prices, growing adoption of graphics processing units (GPUs) by cloud companies and data centers for tasks associated with artificial intelligence, and boost in crypto currency. The growth in semiconductor revenue is estimated to fuel the use of integrated circuits and memory disks.

Adoption of CMP (Chemical Mechanical Planarization), in turn, has increased owing to its use in integrated chip fabrication to remove surface materials and flatten the surface. Demand for CMP is also fueled by growth in ULSI (Ultra Large Scale Integration) process that is used to embed a large quantity of transistors on a single chip.

Consequently, this is expected to spur the demand for cerium oxide nanoparticles where they are used to polish wafers during semiconductor circuit manufacturing, thus positively impacting the growth of the global cerium oxide nanoparticles market during the period of forecast.

Regeneration and Tissue Engineering – Growing Application Avenues for Cerium Oxide Nanoparticles

Growing incidences of chronic diseases has fueled the demand for regenerative medicine since past few years. This has presented positive growth prospects for cerium oxide nanoparticles as they enhance the lifespan of neuron cells and photoreceptors. This property of cerium oxide nanoparticles triggered their application in regeneration and tissue engineering fields.

Cerium oxide nanoparticles act as antioxidants thus promoting tissue growth by cell reproduction. Incidentally, wounds treated with cerium oxide nanoparticles heal at a significant pace as compared to traditional wound healing methods. This has triggered their use in wound healing applications in the medical sector.

Chronic diseases such as cardiac disease, cancer, autoimmune diseases and neurodegeneration are closely associated with oxidative stress. The use of cerium oxide nanoparticles in treating such diseases was tested which reflected positive results as cerium oxide nanoparticles carry out regenerative anti-oxidant activity. This implicated that small amount of cerium oxide nanoparticles can perform this activity for prolonged time periods. However, owing to their nano size, toxicity concerns are associated with using cerium oxide nanoparticles in chronic disease treatment.

The toxicity level is dependent on their surface charge and coating, concentration and agglomeration of nanoparticles in biological fluids. Nevertheless, this concern can be reduced or eliminated by manipulation of synthesis procedure of cerium oxide nanoparticles. With elimination of this limitation and growing use of cerium oxide nanoparticles in medical science, their sales are expected to increase significantly during the period of forecast.

In recent years, owing to their regenerative antioxidant properties, cerium oxide nanoparticles have also gained high importance in industries, especially in applications such as glass polishing, in catalytic converters to remove toxic gases, in manufacturing of solid oxide fuel cells, catalysts and sensors. Additionally, they are also being used in cosmetics and personal care industry, typically in sunscreen products to protect skin from ultraviolet radiations. Varying applications of cerium oxide nanoparticles are expected to provide potential growth opportunities in terms of use and demand, consequently pushing the growth of the global cerium oxide nanoparticles market.

Competitive Landscape: Top Companies in Cerium Oxide Nanoparticles Market

The global cerium oxide nanoparticles market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the growth of cerium oxide nanoparticles.

Fact.MR has provided detailed information about price points of key manufacturers in cerium oxide nanoparticles market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

• Strem Chemicals Inc., a leader in high-purity, ligands, research-grade catalysts, metal carbonyls, and organometallics etc., was acquired by Ascensus Specialities LLC in 2021. This acquisition will support the highly technical R&D culture, value-added customer relationships, and differentiated product offering, etc.
• NYACOL Nano Technologies Inc. in 2020 announced E.M. Sullivan Associates, Inc. as a distributor of its products. This collaboration will aid in supporting the needs of customers through the provision of samples, product information, sales and technical support to the consumers

Global Cerium Oxide Nanoparticles Market by Category

• By Product Form, Global Cerium Oxide Nanoparticles Market is segmented as:

  • Dispersion
  • Powder
  • Other Product Types

• By Application, Global Cerium Oxide Nanoparticles Market is segmented as:

  • Catalyst
  • Polishing
  • Biomedical
  • Energy Storage
  • Personal Care and Cosmetics
  • Others

• By Region, Global Cerium Oxide Nanoparticles Market is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA