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Cerium oxide is a lanthanide metal oxide which is used as an ultraviolet absorber, catalyst, polishing agent, gas sensors etc. Cerium oxide nanoparticles (CeO2), generally known as nanoceria, is a rare earth metal oxide, which has multipurpose applications as automobile exhaust catalysts, oxide ion conductors, electrode materials for gas sensors, ultraviolet absorbents and glass-polishing materials. For commercial purpose, cerium oxide nanoparticles play a dynamic role in cosmetic products, consumer products, instruments and high technology. The physicochemical properties of cerium oxide nanoparticles, such as size, agglomeration status in liquid, and surface charge has made these particles applicable in wide range of applications including, biomedical, energy etc. This report studies the global market for cerium oxide nanoparticles in terms of revenue (USD million) from 2019 to 2024.
The global cerium oxide nanoparticles market has gained profitable growth owing to increasing use of cerium oxide nanoparticles in various applications and rising focus of government on nanotechnology research. The market is further boosted by technological advancements in cerium oxide nanoparticles production process. Moreover, the market is expected to show robust growth during the forecast period due to surging government spending on pharmaceutical R&D in emerging nations. Potential of nanoceria to be used as an antioxidant in medical applications and environmental friendly synthesis of nanoceria are further expected to propel this market growth. However, the global cerium oxide nanoparticles market is hindered by toxicity caused by nanoparticles.
The report analyses the global cerium oxide nanoparticles market, based on form, application and geography.
The market is segmented into various form, which includes dispersion and powder. Among these, the dispersion segment dominated the market in 2017 and is expected to grow at a lucrative growth rate during the forecast period, due to its retention property, which helps in preventing particle agglomeration.
The cerium oxide nanoparticles find applications into biomedical, catalyst, energy storage, personal care & cosmetic products, polishing and others (coatings, fuel cell, gas sensors and fuel additive etc.). In 2017, the biomedical application dominated the global market, owing to increasing use of cerium oxide nanoparticles in biomedical products, due to its unique catalytic, neuroprotective, radical scavenging properties.
By geography, the global cerium oxide nanoparticles market is segmented into North America, Europe, Asia Pacific and Rest of the World. North America dominated the global cerium oxide nanoparticles market in 2017, due to high consumption of cerium oxide nanoparticles for industrial and commercial applications. Moreover, Asia Pacific is the anticipated to grow at a fastest growth rate during the forecast period 2019 to 2024 among other regions. The higher rate of the growth is fuelled by high demand for cerium oxide nanoparticles in automotive, glass, personal care and pharmaceutical industry applications in emerging countries such as China and India. Also, Europe and Rest of the World are also expected to fuel growth of global cerium oxide nanoparticles market at a steady pace soon.
The demand for cerium oxide nanoparticles market is gauzed by market attractiveness tool and company market share. The key players of global cerium oxide nanoparticles market include American Elements, ANP Corporation, Cerion, LLC, Inframat Advanced Materials LLC, Meliorum Technologies, Inc., Nanophase Technologies Corporation, Nanostructured & Amorphous Materials Inc., Nyacol Nano Technologies Inc., PlasmaChem GmbH, Skyspring Nanomaterials Inc. and Strem Chemicals, Inc. Strategies such as product innovation and collaborations are adopted by global players as well as regional players, to maintain the product superiority, thus interpreting market sustainability.
The global cerium oxide nanoparticles market is segmented based on form, application and geography. The market is segmented into various form, which includes dispersion and powder. Among these, the dispersion segment dominated the market in 2017 and is expected to grow at a lucrative growth rate during the forecast period, due to its retention property, which helps in preventing particle agglomeration. The cerium oxide nanoparticles find applications into biomedical, catalyst, energy storage, personal care & cosmetic products, polishing and others (coatings, fuel cell, gas sensors and fuel additive etc.). In 2017, the biomedical application dominated the global market, owing to increasing use of cerium oxide nanoparticles in biomedical products, due to its unique catalytic, neuroprotective, radical scavenging properties. By geography, the global cerium oxide nanoparticles market is segmented into North America, Europe, Asia Pacific and Rest of the World. North America dominated the global cerium oxide nanoparticles market in 2017, due to high consumption of cerium oxide nanoparticles for industrial and commercial applications.
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