According to the report by Expert Market Research (EMR), the global cerium oxide nanoparticles market size is projected to grow at a CAGR of 14% between 2024 and 2032. Aided by the extensive application of the compound across various industries, the market is expected to grow significantly by 2032.
Cerium oxide nanoparticles, often referred to as nanoceria, are renowned for their exceptional catalytic and oxidative properties. These nanoparticles play a crucial role in several applications such as in precision polishing, in automotive exhaust systems for reducing emissions, and in fuel cells for enhancing energy efficiency. The versatility of cerium oxide nanoparticles extends to the biomedical field, where they are used in therapeutic applications due to their antioxidant properties.
The surge in demand for advanced materials in the electronics industry is a major driving force behind the cerium oxide nanoparticles market growth. These nanoparticles are used in the manufacturing of semiconductors, display panels, and solar cells, owing to their ability to improve conductivity and overall performance. The increasing adoption of electronic devices globally is, therefore, a key factor contributing to the market growth.
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In the healthcare sector, the application of cerium oxide nanoparticles is rapidly expanding. Their use in drug delivery systems, medical imaging, and as antioxidants in therapeutic treatments highlights their growing importance. The rising investments in nanotechnology research and the increasing prevalence of chronic diseases are fuelling the cerium oxide nanoparticles market demand.
The energy sector also presents lucrative opportunities for the application of cerium oxide nanoparticles. Their role in improving the efficiency of fuel cells and in the production of hydrogen through water splitting processes is pivotal in the advancement of sustainable energy solutions. With the global shift towards renewable energy sources, the demand for cerium oxide nanoparticles in energy applications is expected to rise significantly.
Additionally, the environmental applications of cerium oxide nanoparticles are gaining attention. Their ability to catalyse the breakdown of pollutants and their use in water treatment processes are essential in addressing environmental concerns. This, combined with stringent environmental regulations, is anticipated to boost the cerium oxide nanoparticles market growth in the coming years.
Cerium Oxide Nanoparticles Market Segmentation
The market can be divided based on application and region.
Market Breakup by Application
- Energy Storage
- Polishing Agent
- Personal Care
- Pharmaceuticals
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Cerium Oxide Nanoparticles Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global cerium oxide nanoparticles market. Some of the major players explored in the report by Expert Market Research are as follows:
- Meliorum Technologies, Inc.
- Strem Chemicals, Inc.
- Nanophase Technologies Corporation
- SkySpring Nanomaterials, Inc.
- Inframat® Advanced Materials™, LLC
- PlasmaChem GmbH
- Others
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