Cerium Oxide Nanoparticles Market Report

Cerium Oxide Nanoparticles Market Analysis By Application (Energy Storage, Polishing Agent, Personal Care, Pharmaceuticals), By Region, And Segment Forecasts, 2014 - 2025

Published: August 2017  |  75 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-547-2

Industry Insights

The global cerium oxide nanoparticles market volume was estimated at 9.1 kilotons in 2016. Growing demand for use in applications such as energy storage, polishing agent for glass mirrors, pharmaceuticals and act as a protection in the UV -visible light range coupled with the inherent advantages of the chemical is expected to propel market growth.

Cerium oxide nanoparticles are rare earth oxide metal, which are utilized in various applications such as, in energy storage products, personal care products, also act as polishing agent for glass mirrors, owing to its versatile properties and electronic configuration. However, the utilization of cerium oxide nanoparticles is limited in luminescent devices, and biomedical owing to weak luminescence.

U.S. cerium oxide nanoparticles market revenue by application, 2014 - 2025 (USD Million)

U.S. cerium oxide nanoparticles market

Moreover, these nanoparticles have witnessed significant growth due to the application in biomedical, environmental protection, and catalytic converters. Additionally, the government from various regions are supporting their usage, which is expected to propel the industry growth. Biomedical is expected to be one of the key application for cerium oxide nanoparticles owing to its rising utilization as an antioxidant, spinal healing agent, and UV light sorbent.

The market worth in the U.S. was USD 84.6 million in 2016 and is forecasted to be USD 281.6 million by 2025 growing at an anticipated CAGR of 14.5% over the forecast period. The presence of a strong automotive, glass, personal care and pharmaceutical industry in the country coupled with the prevalent awareness of its usage is anticipated to benefit the overall demand in the country.

The semiconductor industry in the U.S. is benefitting from the government investment in the sector. The nano ceria is used as a polishing agent in the industry. Thus, the growth in the semiconductor industry is expected to propel the cerium oxide demand over the forecast period.

They are also used as a catalyst converter and fuel additive in the automotive industry, as the chemical product has an ability to mitigate the particles emission. The rising disposable income across the globe has catered to a rise in demand for automotive vehicles, which might benefit the demand of cerium oxide nanoparticles over the forecast period.

The research on nano ceria’s application and enhancement of utilization is expected to propel the industry growth. According to National Center for Biotechnology Information, U.S. National Library of Medicine, positive results were gathered pertaining to cerium oxide nanoparticles usage as an antioxidant in the biological systems. The research concluded that the product is suitable in regenerative medicine, and nanobiology application.

Application Insights

Regarding application, energy storage dominated the segment and was valued at USD 106.3 million in 2016. The market worth for the same is expected to grow at an anticipated CAGR of 14.7% from 2017 to 2025. They are used as a fuel additive in the automotive industry. The global rise in automotive demand is favoring the application segment growth.

Global cerium oxide nanoparticles market by application, 2016 (%)

Global cerium oxide nanoparticles market

Polishing agent application is estimated to witness second highest growth rate in cerium oxide nanoparticles owing to the development of glass and construction industry. Also, they are used to lessen and polish scratches from glass in vehicles, table top edges and mirror bevels. This is expected to further propel growth for cerium oxide nanoparticles over the forecast period.

The global demand for personal care products is increasing significantly owing to growing awareness towards sunscreen and other skin products. Nano ceria act as a UV filter in the sunscreen products. Moreover, they have biological oxidant property, which is highly preferred in the personal care products. As a result, the penetration of the particles in personal care products is increasing and is expected to remain same over the forecast period.

Energy storage market of cerium oxide nanoparticles is expected to witness high penetration, owing to the rapid industrial growth in developing countries such as India, China, and Japan. The ability to act as a catalyst by taking or release in oxygen without getting decomposed in the combustion engine and fuel additive, used in energy storage application is expected to propel the nano ceria market over the forecast period. The potential development of market is high in energy storage as they have the capability to work as a catalyst by taking or release in oxygen in the combustion engine.

In India, the medicine and healthcare industry is anticipated to grow on account of increasing investment by private and public players over the forecast period. The industry is also attracting foreign direct investment (FDI) owing to rising digital adoption, and enhancing services, which is expected to propel the medical industry thereby increasing penetration of cerium oxide over the forecast period.

Regional Insights

In terms of region, North America dominated the global market and accounted for over 34.2% in 2016 as the region is home to many global automotive companies and government is encouraging with enhanced investment policy, highly skilled labor and available infrastructure which in turn is forecasted to drive the chemical product market in the region over the forecast period. The European nano ceria market is anticipated to be valued at USD 297.9 million by 2025.

The recovering economy of Europe is forecasted to boost the automobile sale in the region thereby propelling the growth of nano ceria market. Moreover, automotive sector in the region is one of the key contributing industry in terms of GDP and is expected to remain same owing to increasing demand, and rising technological advancement. As a result, the utilization of cerium oxide nanoparticles is projected to increase over the forecast period.

Competitive Insights

Meliorum Technologies, Inc., Strem Chemicals, Inc, Nanophase Technologies, Corporation, SkySpring Nanomaterials, Inc, , American Elements, Nanostructured & Amorphous Materials Reinste Nano Ventures Pvt Ltd., NYACOL Nano Technologies, Inc, Inframat Advanced Materials, LLC, and PlasmaChem GmbH are some of the key players present within the global industry.

The companies are integrating themselves through various stages of the value chain to achieve low-cost production and distribution cost. For example, Alpha Chemika manufacturers, supply and export nano ceria. As a result, the involvement of middleman is eliminated thereby reducing logistics cost of the company and increasing profit margin.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation                                                

Revenue in USD Million and Volume in Kilotons and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., UK, Germany, France, China, India, Japan

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts volume and revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global cerium oxide nanoparticles market on the basis of application, and region:

  • Application Outlook (Revenue, USD Million; Volume kilo tons, 2014 - 2025)

    •  Energy Storage

    •  Polishing Agent

    •  Personal Care

    •  Pharmaceuticals

    •  Others

  • Regional Outlook (Revenue, USD Million; Volume, Kilo Tons, 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • UK

      • Germany

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

    • Middle East & Africa

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