Cerium Oxide Nanoparticles Market Expected to Reach $2,115.6 Million by 2030-Allied Market Research

According to a new report published by Allied Market Research titled, “Cerium Oxide Nanoparticles Market by Form and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global cerium oxide nanoparticles market size was valued at $385.2 million in 2020, and is projected to reach $2,115.6 million by 2030, growing at a CAGR of 19.0% from 2021 to 2030.

Cerium, a lanthanide series rare earth metal, exists as either a free metal or a cycle between cerium (III) and cerium (IV) oxidation states. Of all cerium minerals, cerium oxide has received the highest attention in the global nanotechnology market owing to its useful applications namely, biomedical, catalyst, polishing, energy storage, personal care and cosmetic products. Cerium oxide nanoparticle is an intensive research and development-oriented industry. All the industry players are investing immensely to find new avenues for their product segments and to reduce the overall production cost.

Promising results have been obtained using cerium oxide nanoparticles as antioxidants in biological systems. Cerium oxide nanoparticles have unique regenerative properties owing to their low reduction potential and the coexistence of both Ce3+/Ce4+ on their surfaces and are found to be effective against pathologies associated with chronic oxidative stress and inflammation. Cerium oxide nanoparticles are well tolerated in both in vitro and in vivo biological models, which makes them well suited for applications in nanobiology and regenerative medicine.

Different studies have shown that cerium oxide nanoparticles can protect biological tissues against oxidative stress, help prolong the survival of photoreceptor cells or neurons, enhance wound healing, reduce chronic inflammation, control, or reduce the growth and proliferation of tumors, and reduce brain damage in ischemic stroke. Unique applications of cerium oxide nanoparticles in the biomedical industry are expected to open up a wide range of opportunities for players operating in the global cerium oxide nanoparticles market.

The cerium oxide nanoparticles market is categorized on the basis of form, application, and region. By form, the dispersion segment accounted for a market share of 57.4% in 2020 and is projected to grow at a CAGR of 17.9% over the forecast period, owing to size of nanoparticles being retained and thereby preventing particle agglomeration in dispersion form.

By application, the polishing segment dominated the global market with a share of 36.9% in 2020. Owing to the tightly controlled particle size distribution and unique crystal morphology, cerium oxide nanoparticles realize new performance benchmarks in polishing applications. Cerium oxide nanoparticles effectively polish and clean architectural glass, removing micro-roughness on the glass that has been built up from being exposed to outside elements. The high surface area of the cerium oxide nanoparticles results in a highly efficient polishing activity leaving the glass surface smooth and defect-free.

By region, North America dominated the global market with a market share of 38.5% in 2020, and Asia-Pacific is expected to witness fastest growth rate over the forecast period. The rapid industrialization along with increasing investments in biomedical and catalyst applications in the emerging economies of China, India, South Korea, and Singapore are contributing to the growth of the market and driving the demand for cerium oxide nanoparticles in the Asia-Pacific region.

The key players operating in the global cerium oxide nanoparticles market include American Elements, Inframat Advanced Materials, LLC, Meliorum Technologies, Inc., Nanophase Technologies Corporation, Nanostructured & Amorphous Materials, Inc., Nyacol Nano Technologies, Inc., Otto Chemie Pvt. Ltd., PlasmaChem GmbH, SkySpring Nanomaterials, Inc., and Stream Chemicals, Inc.

Key Findings Of Study

• By form, powder is anticipated to be the fastest-growing technology segment in terms of value, growing at a CAGR of 20.3%, throughout 2021–2030. The dispersion segment occupied the maximum share of the market with x% of the total volume in 2020.
• By application, the polishing segment emerged as the global leader by acquiring around 36.9% market share in 2020 in terms of revenue and is anticipated to show a significant growth rate over the forecast period.
• Region-wise, North America is the major consumer of cerium oxide nanoparticles among other regions. It accounted for around 38.5% of the global market share in 2020 and Asia-Pacific is expected to witness lucrative growth rate over the forecast period.

COVID-19 Impact on Market

• During the COVID-19 pandemic, the cerium oxide nanoparticles industry was impacted in terms of distribution and logistics due to lockdown across the globe. Cerium oxide nanoparticles production and distribution came to a halt because of the economic downturn due to the pandemic.
• The COVID-19 pandemic disrupted the personal care & cosmetics, electronics, and automotive industries, resulting in reduced usage of cerium oxide nanoparticles in these industries.
• The global COVID-19 pandemic hindered inter-country activity and import & export of cerium oxide nanoparticles due to varied economic and legal limitations globally. As a result, the cerium oxide nanoparticles market impacted moderately in 2020. However, by the beginning of 2021, all the industries started their operation due to which the demand for cerium oxide nanoparticles improved in personal care & cosmetics, electronics, and automotive industries.