GVR Report cover Ceric Ammonium Nitrate Market Size, Share & Trend Report

Ceric Ammonium Nitrate Market Size, Share & Trend Analysis Report By Application (Laboratories, Photomasks, Liquids Crystal Displays) By Region And Segment Forecast, 2015 - 2022

  • Report ID: 978-1-68038-742-1
  • Number of Pages: 73
  • Format: Electronic (PDF)

Report Overview

The global ceric ammonium nitrate (CAN) market demand was 110.7 USD million in 2014 and is projected to grow at a CAGR of 7.7% from 2015 to 2022. The industry is expected to witness significant growth owing to numerous opportunities unexplored mainly in the research field. Research groups and educational institutions have been continuously working to develop application base of ceric ammonium nitrate in organic reactions. According to some research studies, ceric ammonium nitrate has a broad scope in laboratories for organic reactions and its application base is expected to widen over the forecast period.

U.S. ceric ammonium nitrate (CAN) market size

The product also finds applications for industrial purposes such as preparation of etchants which is used in electronic products mainly photomasks and liquid crystal displays. The product is expected to increase its penetration in the medical industry and metal surface cleaning process.

In terms of revenue, the market witnessed a decline in revenues in the past two years on account of falling raw material prices. The prices are expected to stabilize over the forecast period directly impacting market revenues.

Currently, there is a limited scope of technology in the global market. Over the forecast period, technology is expected to play its role on application side of the value chain. Cerium (III) oxide market, the key raw material, is expected to drive over the forecast period in terms of demand which in turn is expected to impact the overall ceric ammonium nitrate market over the forecast period.

Ceric ammonium nitrate is considered hazardous by various regulatory bodies such as the European Union and has negative impacts on health and environment. Manufacturers are expected to follow health and environmental regulations by Mine Safety and Health Administration (MSHA) The National Institute for Occupational Safety and Health (NIOSH), U.S. Environmental Protection Agency (EPA), and Occupational Safety and Health Administration (OSHA) to control the impact of ceric ammonium nitrate.

Application Insights

Laboratories were the leading application segment in the global market. The sector is expected to increase slightly over the forecast period. The application area was the leading segment as CAN is used for wide range of reactions which include oxidation, synthesis of heterocycles, generation of carbon (heteroatom bonds), generation of carbon-carbon bonds, cleavage of carbon (heteroatom bonds), cleavage of Si-O bonds, C-halogen bond formation, and CAN-catalyzed multi-components.

Key factors driving ceric ammonium nitrate growth in laboratories segment includes increasing initiatives by research laboratories and educational institutions to expand application base owing to favorable prices coupled with flexible nature.

In 2014, liquid crystal displays (LCDs) emerged as the second-largest application segment. The growth in this segment can be attributed to increasing demand for liquid crystal display (LCDs) products from the developing economies of the Asia Pacific region. CAN is used for etchants preparation which in turn is used in liquid crystal displays production. Similar to photomasks, the product has limited scope in liquid crystal displays manufacturing

Others application segment includes medical application areas and surface cleaning mainly metal. The application segment is expected to fall over the forecast period owing to fewer industry opportunities for growth. Photomasks and liquid crystal display market shares are expected fall by 2022 owing to limited scope for development and expansion.

Regional Insights

Asia Pacific ceric ammonium nitrate market led the global industry with demand share exceeding 40% in 2014. A key factor driving the regional market include developments in end-use industries such as electronic, research & medical, attractive prices offered by manufacturers and investment initiative by research groups & educational institutions to expand application use in laboratories.

China is a major raw material supplier owing to availability of cerium in abundance. Manufacturers mainly based in China and Korea are focused on offering attractive prices to attract end-use industries.

Global ceric ammonium nitrate market share

North America was the second-largest regional market. The U.S. is conducting a number of research studies to identify CAN use for organic reactions. The regional share is expected to increase slightly over the forecast period. The Middle East & Africa and Central & South America volume share is expected to fall over the forecast period.

Ceric Ammonium Nitrate Market Share Insights

The global ceric ammonium nitrate market is consolidated in nature with a limited number of manufacturers globally. CAN producers include Uranus Chemicals Co. Ltd, Henan CoreyChem Co. Ltd, Chuan Yan Technology Co. Ltd, Treibacher, American Elements and ProChem.

Manufacturers have also integrated their operations in order to enhance their profits and increase overall product supply. Uranus Chemicals Co. Ltd, Treibacher, American Elements, and ProChem have integrated their operations and are also involved in supplying or distribution business. Competition among manufacturers is expected to increase in the future.

Key product suppliers include American International Chemical, Ganzhou Wanfeng Advanced Materials Tech. Co., Ltd., Shanghai Renyoung Pharmaceutical Co., Ltd., A.B. Enterprises, Green Resource Co., Ltd., Sigma-Aldrich, and Santa Cruz Biotechnology.

Ceric Ammonium Nitrate Market Report Scope

Report Attribute


Market size value in 2019

USD 151.0 million

Revenue forecast in 2022

USD 190.1 million

Growth Rate

CAGR of 7.7% from 2019 to 2022

Base year for estimation


Historical data

2012 - 2017

Forecast period

2019 - 2022

Quantitative units

Revenue in USD million and CAGR from 2019 to 2022

Report coverage

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

Segments covered

Application, region

Regional scope

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

Country scope

U.S., Germany, Italy, China, India, Japan, Brazil, UAE

Key companies profiled

Uranus Chemicals Co., Ltd., American International Chemical, Henan CoreyChem Co., Ltd. Ganzhou Wanfeng Advanced Materials Tech. Co., Ltd., Shanghai Renyoung Pharmaceutical Co., Ltd., Chuan Yan Technology Co., Ltd., A.B. Enterprises, Green Resource Co., Ltd., Treibacher Industrie AG

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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