The global cerium oxide nanoparticles market was valued at USD 652.73 Million in 2022, which is anticipated to grow at a CAGR of 19.41% from 2023 to 2032. Because of their unique physiochemical properties when compared to conventional materials of the same composition, cerium oxide nanoparticles are gaining widespread acceptance across a wide range of electronics applications. Cerium oxide nanoparticles can improve the functionality of the product or application that incorporates them. Cerium oxide nanoparticles are employed in a variety of commercial applications, including board/substrate, passive components, packaging IC and MEMS devices, displays, conductive adhesives, and others. Cerium oxide nanoparticle penetration in the electronics industry is increasing at an exponential rate.
Cerium is a rare earth metal, and cerium oxide comes in two forms: CeO2 and Ce2O3. Cerium oxide is used to create nanoparticles for a variety of applications including fuel oxidation catalysis, corrosion protection, solar cells, chemical mechanical polishing or planarization, and automobile exhaust treatment. Furthermore, cerium oxide nanoparticles have antioxidant characteristics. These nanoparticles are commonly employed in the treatment or prevention of oxidative stress-related illnesses. Cerium oxide nanoparticles are available in two forms: dispersed and powdered. The growing use of nanoparticles in a variety of applications such as catalysts, biomedical, chemical mechanical planarization, and others is likely to boost the cerium oxide nanoparticles market in the coming years. Furthermore, increased research and focus on nanoparticles and their benefits are expected to enhance the market in coming years. Furthermore, increased government funding in the pharmaceutical and nanotechnology sectors, as well as unique features such as UV filtering, high ionic conductivity, and radical scavenging, are expected to propel the market throughout the estimated period. There are various constraints and problems that can hinder market expansion. Factors such as nanoparticle toxicity and the unfavourable environmental impact of cerium oxide nanoparticles are anticipated to act as market restrictions. Cerium oxide nanoparticles, also known as ceria nanoparticles or nanoceria, are microscopic cerium oxide particles with dimensions ranging from 1 to 100 nanometers. Cerium oxide, often known as CeO2, is a versatile and widely utilised substance in a variety of sectors. Cerium oxide has various properties and features at the nanoscale as compared to its bulk form. Cerium oxide nanoparticles have distinct catalytic, optical, and electrical properties, making them useful in a variety of applications. Because of their large surface area and ability to store oxygen, they are good catalysts for a variety of chemical reactions, including automotive catalysis and environmental remediation procedures. Furthermore, ceria nanoparticles have outstanding redox behaviour, allowing them to be used in fuel cells, sensors, and energy storage systems. Because of its unique electrical and optical qualities, one of the key causes driving demand for cerium oxide nanoparticles is developments in electronics and optics. These nanoparticles are used to make conductive pastes, optical coatings, and sensors. The demand for cerium oxide nanoparticles is predicted to rise due to the increasing development of electronic gadgets, displays, and sensors. Furthermore, continuing R&D efforts to explore new applications and improve the characteristics of cerium oxide nanoparticles are increasing their demand. Market participants are spending in R&D to investigate the potential applications of cerium oxide nanoparticles in domains such as environmental remediation, catalysis, and water purification, which is resulting in a positive market forecast.
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The automotive sector is experiencing increased demand- The automobile industry is a major source of global demand for cerium oxide nanoparticles. Governments around the world have set stricter emission limits, forcing automakers to invest in technologies that decrease hazardous emissions. Catalytic converters, which play a critical role in lowering pollutants from vehicle exhaust fumes, use cerium oxide nanoparticles. These nanoparticles operate as catalysts, facilitating the conversion of hazardous gases such as carbon monoxide, nitrogen oxides, and hydrocarbons into less hazardous compounds. Cerium oxide nanoparticles' particular features, such as high oxygen storage capacity and redox behaviour, make them effective in increasing catalytic converter performance. The need for cerium oxide nanoparticles as catalyst material is expected to rise significantly as the automobile sector expands, particularly in emerging economies.
Growing interest in biological applications- Because of their unique antioxidant characteristics, cerium oxide nanoparticles have captured the interest of researchers in the biomedical area. These nanoparticles can scavenge reactive oxygen species and shield cells from oxidative stress. As a result, they have tremendous potential for use in drug delivery systems, cancer therapy, and neurodegenerative disease therapies. Cerium oxide nanoparticles can act as carriers for targeted and controlled drug release in drug delivery, improving therapeutic effects. They've also shown encouraging results in cancer treatment, where they can help destroy cancer cells while minimising damage to healthy tissues. Furthermore, experiments have revealed that cerium oxide nanoparticles have neuroprotective effects and may be able to reduce oxidative damage in neurodegenerative illnesses such as Alzheimer's and Parkinson's.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global cerium oxide nanoparticles market, with a 39.83% market revenue share in 2022. The cerium oxide nanoparticles market in this region is primarily driven by the existence of cutting-edge technologies that contain cerium oxide nanoparticles. Cerium oxide nanoparticles are widely employed in this region's industries, including the glass, chemical, and personal care and cosmetics industries.
North America Region Cerium Oxide Nanoparticles Market Share in 2022 - 39.83%
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The synthesis method segment is divided into green synthesis methods and traditional synthesis methods. The traditional synthesis methods segment dominated the market, with a market share of around 62.88% in 2022. Traditional approaches for generating cerium oxide nanoparticles use well-established and frequently used procedures. Precipitation, sol-gel, thermal breakdown, hydrothermal synthesis, and other chemical synthesis techniques are among them. Organic solvents, chemical reagents, and high temperatures are frequently used in traditional synthesis procedures. They provide exact control over nanoparticle particle size, shape, and content. These processes have been thoroughly researched and optimised, resulting in constant production and uniform quality of cerium oxide nanoparticles.
The application segment is divided into polishing agent, pharmaceuticals, energy storage, personal care, and others. The polishing agent segment dominated the market, with a market share of around 23.63% in 2022. It is due to the growth of the glass and building industries. They are also used to reduce and polish scratches on vehicle glass, tabletop edges, and mirror bevels.
|Revenue (USD Million)
|Market size value in 2022
|USD 652.73 Million
|Market size value in 2032
|USD 3,847.16 Million
|CAGR (2023 to 2032)
|The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
|Synthesis Method, Application
As per The Brainy Insights, the size of the cerium oxide nanoparticles market was valued at USD 652.73 Million in 2022 & USD 3,847.16 Million by 2032.
Global cerium oxide nanoparticles market is growing at a CAGR of 19.41% during the forecast period 2023-2032.
North America region emerged as the largest market for the cerium oxide nanoparticles.
The automotive sector is experiencing increased demand is a significant driving factor for the growth of the cerium oxide nanoparticles market.
Growing interest in biological applications is a significant opportunity for the growth of the cerium oxide nanoparticles market.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global cerium oxide nanoparticles market based on below mentioned segments:
Global Cerium Oxide Nanoparticles by Synthesis Method:
Global Cerium Oxide Nanoparticles by Application:
Global Cerium Oxide Nanoparticles by Region:
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