Global Cerium Oxide Nanoparticles Market to Reach US$ 3,710.9 Million by 2032, Propelled by Rapid Expansion of Renewable Energy Sector

July 27, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Cerium Oxide Nanoparticles Market Report by Form (Dispersion, Powder), Synthesis Method (Traditional Synthesis Methods, Green Synthesis Methods), Application (Energy Storage, Polishing Agent, Personal Care, Pharmaceuticals, and Others), and Region 2024-2032”, the global cerium oxide nanoparticles market size reached US$ 940.9 Million in 2023. Cerium oxide nanoparticles, also known as nanoceria, are a specialized form of cerium oxide. These are tiny particles, typically ranging from 1 to 100 nanometers in size, that contain cerium, a rare earth element. Due to their unique catalytic, optical, and electronic properties, cerium oxide nanoparticles exhibit a wide array of industrial applications. Their uses span across industries such as electronics, where they are used in solid oxide fuel cells, to healthcare, where they are explored for potential uses in drug delivery and biomedical treatments. Furthermore, cerium oxide nanoparticles are being used extensively in the development of environmentally friendly fuels, owing to their oxygen storage capacity and ability to reduce harmful emissions. Their specific properties of high surface-to-volume ratio and impressive thermal stability make them an essential ingredient in many manufacturing and technological processes.

Global Cerium Oxide Nanoparticles Market Trends:

The global market is majorly driven by the burgeoning electronics industry, with the escalating demand for advanced and efficient energy storage and conversion devices. In line with this, the growing environmental consciousness worldwide, leading to the development of cleaner fuels and renewable energy sources is fueling the market. Furthermore, continual technological advancements in healthcare procedures are resulting in the increasing use of these nanoparticles in drug delivery and biomedical applications, thereby propelling the market. Besides this, the increasing investment in research and development (R&D) activities focusing on nanotechnology is creating a positive market outlook. The market is further driven by the rapid utilization in the formulation of various personal care and cosmetic products with UV filtering and antioxidant properties. Furthermore, the emergence of eco-friendly and sustainable methods of synthesizing cerium oxide nanoparticles due to an enhanced focus on environmental concerns, is also providing an impetus to the growth of the market. Some of the other factors contributing to the market include the growing utilization in pharmaceutical applications, augmenting demand for advanced battery technologies in the energy sector, and the increasing product adoption in catalytic converters. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 3,710.9 Million by 2032, exhibiting a CAGR of 16.1% during 2024-2032.

Market Summary:

Based on the form, the market has been segmented into dispersion and powder. Among these, dispersion represents the largest market segment.
On the basis of the synthesis method, the market has been divided into traditional and green synthesis methods.
Based on the application, the market has been categorized into energy storage, polishing agent, personal care, pharmaceuticals, and others. Between these, energy storage accounts for the biggest segment in the market.
On the geographical front, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa. At present, North America holds the leading position in the market.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include American Elements, Cerion LLC, Inframat Corporation, Meliorum Technologies Inc., Nanophase Technologies Corporation, Nanostructured & Amorphous Materials Inc., NYACOL Nano Technologies Inc., PlasmaChem GmbH, SkySpring Nanomaterials Inc. and Strem Chemicals Inc. (Ascensus Specialties LLC).

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Form Synthesis Method Application Region
Forms Covered	Dispersion, Powder
Synthesis Methods Covered	Traditional Synthesis Methods, Green Synthesis Methods
Applications Covered	Energy Storage, Polishing Agent, Personal Care, Pharmaceuticals, Others
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	American Elements, Cerion LLC, Inframat Corporation, Meliorum Technologies Inc., Nanophase Technologies Corporation, Nanostructured & Amorphous Materials Inc., NYACOL Nano Technologies Inc., PlasmaChem GmbH, SkySpring Nanomaterials Inc. and Strem Chemicals Inc. (Ascensus Specialties LLC)
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Global Cerium Oxide Nanoparticles Market to Reach US$ 3,710.9 Million by 2032, Propelled by Rapid Expansion of Renewable Energy Sector

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