Newark, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 652.73 Million in 2022 cerium oxide nanoparticles market will reach USD 3,847.16 Million by 2032. Cerium oxide nanoparticles are gaining significant adoption across a wide range of electronics applications due to their distinct physiochemical features when compared to traditional materials of the same composition. Cerium oxide nanoparticles can enhance the functionality of a product or application that contains them. Cerium oxide nanoparticles are used in a wide range of commercial applications, such as board/substrate, passive components, packaging IC and MEMS devices, displays, conductive adhesives, and so on. The use of cerium oxide nanoparticles in the electronics industry is growing at an exponential rate.
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Key Insight of the Cerium Oxide Nanoparticles Market
North America is anticipated to expand at the highest CAGR of 21.38% over the projection period.
North America is expected to grow at the highest CAGR of 21.38% over the forecast period. Because of the region's substantial automotive industry, North America is the biggest market for cerium oxide nanoparticles. North America's strict pollution standards drive the market for innovative catalyst materials, where cerium oxide nanoparticles play an important role in decreasing dangerous exhaust emissions. Furthermore, North America is experiencing rapid growth in the energy storage sector, which includes electric vehicles and renewable energy technologies, boosting demand for cerium oxide nanoparticles in lithium-ion batteries and other energy storage applications.
The green synthesis methods segment is expected to register the highest CAGR of 22.88% over the projected period in the cerium oxide nanoparticles market.
The green synthesis methods segment is anticipated to grow at the highest CAGR of 22.88% in the cerium oxide nanoparticles market. Green synthesis methods, also known as environmentally friendly or sustainable synthesis methods, involve the use of ecologically beneficial and renewable resources to create cerium oxide nanoparticles. These approaches aim to lessen the environmental impact of standard synthesis processes as well as the use of hazardous compounds. As reducing and stabilising agents for the synthesis process, green synthesis methods may employ biological agents such as bacteria, fungi, algae, or plant extracts.
Over the projected period, the personal care segment is expected to register the highest CAGR of 22.41% in the cerium oxide nanoparticles market.
Over the forecasted period, the personal care segment is anticipated to grow at the highest CAGR of 22.41% in the cerium oxide nanoparticles market. The global demand for personal care products is expanding rapidly as people become more aware of the benefits of sunscreen and other skin care products. In sunscreen products, nano ceria act as a UV filter. Furthermore, they have biological oxidant properties, which are extremely desirable in personal care products. As a result, particle penetration in personal care products is growing and is likely to be stable over the projection period.
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Market Dynamics
Driver: The automotive sector is experiencing increased demand
The vehicle industry accounts for a significant portion of global demand for cerium oxide nanoparticles. Governments across the world have tightened emission standards, compelling automakers to invest in technologies that reduce dangerous emissions. Cerium oxide nanoparticles are used in catalytic converters, which play an important role in reducing pollutants from automobile exhaust fumes. These nanoparticles act as catalysts, allowing harmful gases such as carbon monoxide, nitrogen oxides, and hydrocarbons to be converted into less toxic chemicals. The unique properties of cerium oxide nanoparticles, such as their high oxygen storage capacity and redox behaviour, make them effective in improving catalytic converter efficiency. As the vehicle industry increases, particularly in emerging economies, the demand for cerium oxide nanoparticles as catalyst material is predicted to increase.
Opportunity: Growing interest in biological applications
Cerium oxide nanoparticles have captured the interest of biomedical researchers due to their unique antioxidant properties. These nanoparticles have the ability to scavenge reactive oxygen species and protect cells from oxidative stress. As a result, they offer enormous promise for application in drug delivery systems, cancer therapy, and neurodegenerative disease therapies. Cerium oxide nanoparticles can be used in drug delivery as carriers for targeted and controlled drug release, enhancing therapeutic benefits. They've also showed promising results in cancer treatment, where they can aid in the destruction of tumour cells while causing minimal damage to healthy tissues.
Report Scope
| Base Year | 2022 |
| Forecast period | 2023-2032 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | Asia Pacific, Europe, South America, North America, and Middle East & Africa |
| Market Size(unit) | USD 3,847.16 Million |
| Cerium Oxide Nanoparticles Market CAGR | 19.41% |
| Segments Covered | Synthesis Method, Application |
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Some of the major players operating in the cerium oxide nanoparticles market are:
• Strem Chemicals, Inc.
• Nanophase Technologies
• American Elements
• Reinste Nano Ventures Pvt Ltd.
• Inframat Advanced Materials, LLC
• Meliorum Technologies, Inc.
• Nanostructured & Amorphous Materials
• PlasmaChem GmbH
• SkySpring Nanomaterials, Inc
• NYACOL Nano Technologies, Inc
Key Segments cover in the market:
By Synthesis Method:
• Green Synthesis Methods
• Traditional Synthesis Methods
By Application:
• Polishing Agent
• Pharmaceuticals
• Energy Storage
• Personal Care
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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