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.
Author Credits: Smruti Ranjan, Rajrani Baghel
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