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Global Cerium Oxide Nanoparticles Market to Grow at a CAGR of 14% During 2022-2027, Aided by the Growing Demand in Various Application Sectors

According to a new report by EMR titled, ‘Global Cerium Oxide Nanoparticles Market Report and Forecast 2022-2027’, the market attained a value of around USD 0.5 billion in 2020. The market for cerium oxide nanoparticles is further expected to grow at a CAGR of 14% between 2022 and 2027.

The global cerium oxide nanoparticles industry is being driven by the increased investments in the development of energy storage and conservation solutions worldwide, as cerium oxide nanoparticles are increasingly utilised as an electrolyte in solid oxide fuel cells. This can be attributed to the growing demand for sustainable and green energy resources, amid the rising concerns of pollution associated with fossil fuel-based energy resources. In addition, the growing demand for nanoceria for UV filtering and protection in the production of personal care products such as sunscreen is also expected to aid the market growth. Moreover, the rising technological advancements are also anticipated to aid the industry in the coming years.

The increasing capital expenditure by the leading market players in the research and development of advanced nanoengineered products is expected to aid the market growth in the forecast years. This can be attributed to their multifaceted application potential. For instance, in June 2017, Nanophase Technologies Corporation (OTCQB: NANX), a leading manufacturer of nanomaterials and advanced nanoengineered products, announced the execution of development, distribution, and manufacturing agreements with Eminess Technologies, Inc., a leading vendor of products for polishing critical surfaces. The strategic collaboration will help both the companies uplift their mutual positions and enhance the reach of their products and advanced material solutions. Such developments are expected to positively impact the growth of the cerium oxide nanoparticles industry in the forecast period.

Market Breakup by Application and Region:

  • The market is divided, based on application, into energy storage, polishing agent, personal care, and pharmaceuticals, among others.
  • Region-wise, the global market for cerium oxide nanoparticles can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for cerium oxide nanoparticles is being driven by the rising investments by the government in the development of energy conservation solutions.
  • The increased demand for cerium oxide nanoparticles in the pharmaceutical and biomedical industry for drug development purposes has significantly contributed to the market expansion. 
  • The rising demand for UV protection in personal care products is also aiding the industry growth. 
  • The growing expenditure by the key market players in the research and development of cerium oxide nanoparticles solutions is further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for cerium oxide nanoparticles for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the applications and regions of cerium oxide nanoparticles.
  • The market report also analyses the trade data by covering the major importing and exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global cerium oxide nanoparticles market are Meliorum Technologies, Inc., Strem Chemical, Inc., Nanophase Technologies Corporation, SkySpring Nanomaterials, Inc., Inframat® Advanced Materials™, LLC, and PlasmaChem GmbH, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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