Cerium Oxide Nanoparticles Market

The global cerium oxide nanoparticles market 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.

Statement for COVID-19 banner: The COVID-19 pandemic disrupted the personal care & cosmetics, electronics, and automotive industries in 2020, resulting in reduced usage of cerium oxide nanoparticles in these industries. During the COVID-19 pandemic, the cerium oxide nanoparticles industry was impacted in terms of distribution and logistics due to lockdown across the globe. Regards,

Cerium oxide nanoparticles have nanoscale dimensions ranging from 1 to 100 nanometers. They occur naturally or can be engineered with specific properties, such as size, shape, surface, and chemistry. Cerium oxide nanoparticles have better resistivity, strength, optical absorption, and conductivity compared to the atoms. Relative surface area is one of the important factors that improve the properties of cerium oxide nanoparticles. The demand for cerium oxide nanoparticles has increased across diverse industry applications owing to their excellent physio-chemical properties, which increases the performance of the end product.

Nanotechnology is an extensively R&D-based industry. Most of the cerium oxide nanoparticles commercially available in the market are at the initial stage of the product life cycle. Across the globe, industry players are investing significantly, along with the government institutions to find commercial applications for this wide range of cerium oxide nanoparticles. In 2017, The Federal Budget has allotted total funding of more than $1.4 billion to the National Nanotechnology Initiative (NNI), which is a U.S. Government research and development (R&D) initiative; the total spending being around $24 billion cumulatively, since the inception of NNI in 2001. In 2020, the president of the National Science & Technology Council requested over $1.7 billion for NNI in the 2021 budget. Over the years, many new and emerging applications for cerium oxide nanoparticles have been found with government funding and support. Some of these applications are biological applications, fuel additives, and gas sensors, among others. The impact of funding and support from governments is expected to positively drive the cerium oxide nanoparticles market over the forecast period, as it will lead to development of new materials and widespread commercialization of these materials in different applications.

High processing costs and stringent environmental regulations concerning cerium oxide nanoparticles may hamper the commercial applications of cerium oxide nanoparticles. Hence, this factor may affect the market growth adversely during the forecast period.

However, cerium oxide nanoparticles manufacturing and usage are gaining wide acceptance across various electronics applications, owing to their specific physiochemical properties when compared to conventional materials of the same composition. Cerium oxide nanoparticles can improve the functionality of the product or application in which they have been incorporated. Some of the commercial applications in which cerium oxide nanoparticles are used include board/substrate, passive components, packaging IC and MEMS devices, displays, conductive adhesives, and others. Penetration of cerium oxide nanoparticles in the electronics industry is witnessing growth at an exponential rate.

The cerium oxide nanoparticles market is classified on the basis of form, application, and region. On the basis of form, the market is segmented into powder and dispersion. By application, the market is segmented into energy storage, polishing, catalyst, personal care & cosmetic products, biomedical, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The cerium oxide nanoparticles market share is analyzed across all significant regions and countries.

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. 

Global Cerium Oxide Nanoparticles Market, by Form

By form, the dispersion segment topped the cerium oxide nanoparticles market in terms of volume and value as the particle size can be retained preventing particle agglomeration in dispersion form.

Global Cerium Oxide Nanoparticles Market, by Application

By application, the polishing segment accounted for the largest share of revenue in 2020. Cerium oxide nanoparticles are widely applied in chemical mechanical polishing and planarization processes, in the development of corrosion protection coatings for metals and alloys. 

Global Cerium Oxide Nanoparticles Market, by Region

By region, North America is a significant contributor to the global demand for cerium oxide nanoparticles. The North American region held the largest share of more than 38.5% in the cerium oxide nanoparticles market in 2020. The cerium oxide nanoparticles market in this region is mainly driven by strong presence of the latest technologies employing cerium oxide nanoparticles in their composition. Cerium oxide nanoparticles are being used at a large scale in industries such as the glass industry, chemical industry, and personal care and cosmetics industry in this region.

Key Benefits For Stakeholders

• The report includes an in-depth analysis of different segments and provides cerium oxide nanoparticles market estimations between 2021 and 2030.
• The cerium oxide nanoparticles market size is provided in terms of revenue and volume.
• A comprehensive analysis of the factors that drive and restrict the growth of the cerium oxide nanoparticles market is provided.
• Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
• Key market players are profiled to gain an understanding of the strategies adopted by them.
• This report provides a detailed analysis of the current cerium oxide nanoparticles market trends and future estimations from 2021 to 2030, which helps to identify the prevailing market opportunities.

COVID-19 Impact on Market

• COVID-19 pandemic caused a ban on imports and export, thereby disrupting the supply chain and hampering the cerium oxide nanoparticles market growth.
• There was a huge supply and demand gap created due to the COVID-19 pandemic.
• Fluctuation in prices of cerium oxide nanoparticles during COVID-19 was a major hindrance to the market.
• During COVID-19, the demand for cerium oxide nanoparticles decreased in the chemical, electronics, and personal care & cosmetics industries. Owing to the lockdown, all the industries were shut, due to which demand for cerium oxide nanoparticles was impacted negatively in 2020.

 Cerium Oxide Nanoparticles Market Report Highlights