Market Size of Cerium Oxide Nanoparticles Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 15.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cerium Oxide Nanoparticles Market Analysis
The market for cerium oxide nanoparticles is expected to grow at a CAGR of more than 15% globally during the forecast period. Cerium belongs to the lanthanide series and is rare earth metal (atomic number = 58). It is the most abundant rare earth metal which is present in two oxidation states i.e. +3 and +4. Cerium oxide is considered to be a lanthanide metal oxide and is used as an ultraviolet absorber catalyst polishing agent, gas sensors, etc. The growing demand from the semiconductor industry and rising utilization of polishing agents have been driving the market growth.
- However, the toxic nature at high concentrations of cerium oxide nanoparticles and the unfavorable conditions arising due to the COVID-19 outbreak are likely to hinder the growth of the studied market.
- The potential application of nanoceria to be used as an antioxidant in medical applications are likely to provide opportunities for the Cerium oxide nanoparticles market over the next five years.
- North America region dominates the cerium oxide nanoparticles market, owing to growing application of cerium oxide nanoparticles in the region.
