Increased research and development activities for safe and efficient use of Cerium oxide Nanoparticle, increased demand of Cerium oxide Nanoparticle from different sectors owing to a wide range of applicability coupled with abundant availability of cerium element are key factors contributing to high CAGR of Cerium oxide Nanoparticle during the forecast period.
According to the current analysis of Reports and Data, the global Cerium oxide Nanoparticle Market was valued at USD 378.3 Million in 2020 and is expected to reach USD 1,595.7 Million by the year 2028, at a CAGR of 19.60%. Cerium is a rare earth material that belongs to a lanthanide group of elements. Cerium reacts with oxygen to form Cerium oxide Nanoparticle, which have a wide range of applications across all fields. Cerium element is found in abundance, which has increased its importance in various biochemical, biomedical, and catalytic applications like low-temperature water-shift reaction, solar cells, oxygen sensors, auto-exhaust catalysts, glass polishing materials, cosmetics, and oxidation-resistant coatings. In small quantities, these are added to the end-products to improve the product’s performance. However, excess use of Cerium oxide Nanoparticle can lead to toxicity. Cerium oxide has gained considerable importance in the medical field owing to its excellent self-regenerating antioxidant properties. It serves as a promising antioxidant for the treatment of various oxidative stress-related diseases. One of the significant challenges that still need to be solved is the safe and efficient use of Cerium oxide Nanoparticle in the pharmacological agents since nanoparticles tend to agglomerate, which can lead to toxicity and detrimental side-effects.
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Top Lading Players: Cerion (US), Plasmachem (Germany), American Elements (US), Inframat Advanced Materials (US), NYACOL Nano Technologies (US), Nanophase Technologies (US), Meliorum Technologies, SkySpring Nanomaterials, American Elements, Strem Chemicals.
Some Key Highlights from the Report:
- Cerium oxide Nanoparticle market is growing at a CAGR of 5% in the Asia Pacific, followed by North America and Europe, with 19.4 % and 19.3% CAGR, respectively. Increased RD activities, coupled with high penetration of Cerium oxide Nanoparticle in various industrial applications, are expected to drive the market growth.
- As of 2018, Dispersion form type is the dominating Cerium oxide nanoparticle, which holds 64.1% of the global market. North American regional market is the chief revenue-generating source for this product segment, followed by Europe and Asia-Pacific regions
- An increase in applications and demand from various end-use industries coupled with funding support from research development and decrease in Cerium oxide Nanoparticle are expected to drive the market growth.
- The key market players are adopting strategies like launching new products to satisfy a large number of customers. For example, Cerion advanced materials announced a cost-effective, flexible synthesis process that yields high-purity ceria nanoparticle dispersions suited for chemical mechanical planarization (CMP) and other polishing applications.
- Exposure to cerium oxide nanoparticle through inhalation is a significant concern as the lungs and lymph nodes associated with are targeted first and later get distributed to other parts like spleen, liver, and kidney.
- According to research, it was observed that exposure to high doses of nanoceria resulted in DNA damage in liver cells and peripheral blood leukocytes, cytogenetic changes, and micronucleus formation in the bone marrow.
- For the production of bio-relevant nanoparticle, synthesis parameters need to be carefully optimized to select for beneficial physiochemical properties.
- Cerium oxide Nanoparticle assist in inhibited production of reactive oxygen species, cell migration, and invasion of ovarian cancer cells without affecting the healthy cells and successfully curbing the growth of cancerous cells.
- Green synthesis methods that use biocompatible stabilizers are increasingly gaining relevance in the production of Cerium oxide Nanoparticle and their biomedical applications.
Segments covered in the report:
Form Type (Revenue, USD Million; 2018–2028)
- Dispersion
- Powder
Application Type (Revenue, USD Million; 2018–2028)
- Catalyst
- Biomedical
- Chemical Mechanical Planarization (CMP)
- Polishing
- Others
End-Use (Revenue, USD Million; 2018–2028)
- Cosmetic
- Chemical
- Medical
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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