Global Cerium Oxide Nanoparticles Market By Application (Energy Storage, Polishing Agent, Personal Care, Pharmaceuticals, Others), By Form (Dispersion and Powder), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Cerium Oxide Nanoparticles Market Overview:

the global cerium oxide nanoparticles industry accounted for USD 457.61 million in 2021, growing at a CAGR of 18.8% from 2023 to 2032.

Global Cerium Oxide Nanoparticles Market

Application Analysis

The largest application is energy storage, which was valued at US$ 106.3 million in 2021. They are used as fuel additives for the automotive industry. The application segment is seeing a rise in global automotive demand.

Due to the growth of the glass and construction industries, polishing agent applications will witness the second-highest rate of cerium oxide nanoparticles. These agents are used to remove scratches from glass in cars, tabletop edges, and mirror bevels. This will drive growth in cerium oxide nanoparticles for the forecast period.

Global demand for personal care products has increased significantly due to the increasing awareness of sunscreens and other skin products. As a UV filter, Nano ceria can be used in sunscreen products.

Additionally, Nano ceria has biological oxidant properties, which are highly desirable in personal care products. Therefore, personal care products are seeing increased penetration and this trend is expected to continue for the foreseeable future.

Because of the rapid industrial development in developing countries like India and China, the market for cerium oxide nanoparticles to store energy is expected to grow rapidly. The potential to act as a catalyst, taking in or releasing oxygen from the combustion engine and fuel additives is expected to drive the nanoceria industry market during the forecast period.

Potential growth is high for energy storage because they are able to act as a catalyst and take or release oxygen from the combustion engine.

India’s healthcare and medicine industries are expected to grow because of the increasing investments by both public and private players during the forecast period. A rising level of digital adoption is boosting services and driving foreign direct investment (FDI), which will propel the medical sector and increase cerium oxide penetration over the forecast period.

Form Analysis

Because of the small size of the nanoparticles that remained in dispersion and the prevention of particle agglomeration, the dispersion market held the largest share of the Cerium Oxide Nanoparticles Marketplace in 2021.

Due to growth in end-use industries like biomedical and catalyst, the powder segment is expected to experience the highest CAGR for the forecast period.

Key Market Segments

Application

• Energy Storage
• Polishing Agent
• Personal Care
• Pharmaceuticals
• Others

Form

• Dispersion
• Powder

Market Dynamics

The market is set to grow due to the growing demand for the use of cerium oxide nanoparticles for energy storage, as polishing agents for mirrors and pharmaceuticals.

Cerium oxide particles are rare earth oxide metals that are used in many applications. These include energy storage products, personal health products, and polishing agents. The use of cerium oxide nanoparticles in luminescent devices is restricted and biomedical is not possible due to the weak luminescence.

These nanoparticles’ use in biomedical and environmental protection, as well as catalytic converters, has led to significant growth. They are also supported by the governments of various regions, which will help propel the industry’s growth.

Cerium oxide nanoparticles are expected to find a wide range of applications in biomedical because of their increasing usage as an antioxidant and spinal healing agent. The US market was worth US$ 84.6 million in 2021. The country’s strong automotive, glass, pharmaceutical, and personal care sectors will benefit from the increased awareness about its use.

The U.S. semiconductor industry is benefitting from investment by the government in this sector. The industry uses Nano ceria to polish its products. This is why the industry’s growth is expected to drive the demand for cerium oxide over the forecast period.

These chemical products can also be used as catalysts or fuel additives in the automotive sector since they have the ability to reduce the particle’s emissions. The global rise in disposable income has facilitated a rise in demand for cars, which may help to fuel the growth in cerium oxide nanoparticles demand over the forecast period.

Industry growth will be encouraged by the research into Nano ceria’s use and enhancement of usage. According to the U.S. National Library of Medicine’s National Center for Biotechnology Information (NCBI), positive results have been obtained regarding cerium oxide particles’ use as an antioxidant within biological systems. The product can be used in regenerative medicine as well as Nanobiology.

Regional Analysis

North America dominated the global market, representing 34.2% of the total in 2021. The region is home to many global automotive companies. In addition, the government is encouraging the region’s growth with an enhanced investment policy, skilled labor, and infrastructure. This will drive the region’s chemical product market during the forecast period. The European nanoceria industry is expected to reach US$ 297.9 Million by 2032.

The region’s recovering economy will boost automobile sales and thus propel the growth of the nanoceria industry. The region’s automotive industry is one of the most important contributors to GDP. This sector is expected not to change due to increased demand and technological advances. The utilization of cerium oxide particles is expected to rise over the forecast period.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis

To achieve low production costs and lower distribution costs, the companies are integrating their operations through various stages of their value chain. Alpha Chemika, for example, manufactures, supplies, and exports nanoceria. The company can eliminate middlemen and reduce logistics costs. This increases profit margin.

Key Market Players

The key players within the global industry are

• Strem Chemicals Inc.
• Meliorum Technologies Inc.
• Nanophase Technologies
• American Elements
• SkySpring Nanomaterials Inc.
• Inframat Advanced Materials LLC
• NYACOL Nano Technologies Inc.
• PlasmaChem GmbH
• Other Key Players

For the Cerium Oxide Nanoparticles Market research study, the following years have been considered to estimate the market size: