Cerium Oxide Nanoparticles Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $734 million by 2022, registering a CAGR of 21.7%. during the forecast period 2016 - 2022. It is anticipated that biomedical segment would generate the highest revenue throughout the forecast period. In the year 2015, Asia-Pacific led the global market and is expected to maintain its position throughout the study period.
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The industry players made significant investments on new commercial avenues for their product segments via strategic partnerships & collaborations. Governmental funding towards extensive research and development activities coupled with an increasing support for application of cerium oxide nanoparticles. There is a rise in demand for cerium oxide nanoparticles from various end-user industries and an increase in application scope owing to its superior properties. Also, the decrease in prices of cerium oxide nanoparticles owing to the improving manufacturing technologies is expected to drive the demand for cerium oxide nanoparticles over the forecast period. However, growing concerns over environmental impact & toxicity of cerium oxide nanoparticles, high processing costs, and stringent environmental regulations could hamper the market growth during the forecast period.
In the year 2015, polishing was the largest end-user industry, with about one-third value share of cerium oxide nanoparticles market, followed by catalyst, biomedical, energy storage and personal care & cosmetic products segment. The extraordinary physio-chemical properties of cerium oxide nanoparticles, such as catalytic, neuroprotective, high ionic conductivity and anti-inflammatory properties have increased its penetration in a wide array of application, as it results in improved performance of the end product.
Key Findings of Cerium Oxide Nanoparticles Market:
- Biomedical segment is expected to witness highest CAGR of 22.3% during the forecast period.
- Polishing and catalyst segment together accounted for more than half of the market share in 2015.
- Asia-Pacific is anticipated to lead the market throughout 2022, growing at a CAGR of 22.2%, in value terms.
- In 2015, China and U.S. led the emergent demand in the global cerium oxide nanoparticles market.
In 2015, North America and Asia-Pacific collectively accounted for nearly two-thirds of the worldwide demand for cerium oxide nanoparticles and are expected to maintain their lead position throughout the forecast period. However, Asia-Pacific is projected to be the fastest growing region, with a CAGR of 22.2% in value terms, followed by North America, Europe, and LAMEA.
The report provides comprehensive analysis of the key players that operate in the global cerium oxide nanoparticles market such as Strem Chemicals, Inc., PlasmaChem GmbH, Advanced Nano Products Co. Ltd., Meliorum Technologies, Inc., NYACOL Nano Technologies, Inc., Skyspring Nanomaterials, Inc., Nanophase Technologies Corporation, American Elements, Nanostructured & Amorphous Materials, Inc. and Inframat Advanced Materials. These players occupy a major share in the global cerium oxide nanoparticles market followed by other tier 2 and tier 3 players worldwide.