Global Cerium Oxide Nanoparticles TOC
Cerium Oxide Nanoparticles Market size is expected to cross USD 6 billion by the end of 2035, expanding around 19% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of cerium oxide nanoparticles was USD 650 million. The growth of the market is set to be influenced by the growing demand for renewable energy. Over the past two decades, there has been an enormous rise in the usage of renewable energy worldwide. In 2022, consumption almost reached about 44 exajoules. Hence, the usage of cerium oxide nanoparticles in a number of applications is being influenced by the rising demand for renewable energy sources and the global need to lower pollution levels.
Due to their strong chemical reactivity, high oxygen storage capacity, and low emissions rate, cerium oxide nano particles are increasingly being employed as the electrolyte in solid oxide fuel cells. Additionally, governments are bringing forward measures to generate renewable energy in an effort to lower pollution levels and global carbon emissions. Hence, owing to this the market is also expected to boost.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
19% |
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Base Year Market Size (2022) |
USD 650 Million |
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Forecast Year Market Size (2035) |
USD 6 Billion |
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Regional Scope |
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Application [Chemical Mechanical Planarization (CMP), Biomedical, Sunscreen Cosmetics (SPF 30, SPF 45, SPF 50, Others), Energy, Catalyst]
The chemical mechanical planarization segment in the cerium oxide nanoparticles market is poised to surpass USD 1.74 billion by the end of 2023. This revenue was USD 164.3 million in the year 2022. The growth of the segment is set to be attributed to growing production of semiconductor. In the semiconductor manufacturing sector, chemical mechanical planarization, or CMP, is a technique for polishing wafer surfaces. Nanoparticle-containing CMP slurries are increasingly employed to reduce the size of the electronic device and improve manufacturing process yield. Due to their potential to impact the prominence of the silicon wafers, the examination of the CMP slurry nanoparticle size distribution and the identification of larger particles are essential elements of quality control of the photolithography process. Due to their sensitivity, versatility, and analytical speed, cerium oxide nanoparticles are increasingly used for identifying and quantifying inorganic-based nanoparticles.
Form (Dispersion, Powder)
Cerium oxide nanoparticles market from the dispersion segment is expected to reach USD 700 million by the end of 2035. Water or a number of organic solvents, such as ethanol or mineral oil, may be employed to create cerium oxide nanoparticle dispersions. As a buffer layer for superconductors, coating for infrared filters, catalyst, and catalyst support, electrolyte and/or electrode materials for solid oxide fuel cells, coloring agents for plastics, infrared absorbents, heat-resistant alloy coatings, oxidation-resistant coatings, oxygen sensors, oxygen pumps, polishing media for electronic devices, glasses, and bearing balls, ultraviolet absorbent, and sintering additives are just a few applications.
Our in-depth analysis of the global cerium oxide nanoparticles market includes the following segments:
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Form |
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Application |
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APAC Market Forecasts
The cerium oxide nanoparticles market revenue in Asia Pacific excluding Japan is predicted to surpass USD 3.01 billion in the year 2035, up from a revenue of USD 290.1 million in the year 2022. The growing prevalence of cardiovascular disease is expected to drive the market revenue in this region. For instance, in India, the number of deaths from heart attacks has remained consistently higher than 24,999 in the last four years, and more than 27,999 in the last three years. Nanomaterials are now able to be utilized to treat heart conditions due to developments in nanomedicine. The irreversible oxidative states of cerium oxide nanoparticles, Ce3+ & Ce4+, which provide them special physiologically significant features including antioxidant properties, anti-inflammatory properties, free radical scavenging capabilities, and more are gaining attention in this region.
North American Market Statistics
The North America cerium oxide nanoparticles market is expected to have notable growth during the forecast period. The region has a significant biomedical industry, that is growing as a result of an increase in the number of elderly people, rising R&D spending, and the demand for cutting-edge cures and treatments. Cerium oxide nanoparticles have attracted a lot of attention from the biomedical industry due to their exceptional antioxidant properties. Therefore, this factor is estimated to dominate the cerium oxide nanoparticles market expansion in this region.
Author Credits: Smruti Ranjan, Rajrani Baghel
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