According to the market research report "Cerium Oxide Nanoparticles Market by Form (Dispersion and Powder), Application (Chemical Mechanical Planarization, Catalyst, Biomedical, Energy), and Region (North America, APAC, Europe, and RoW) - Global Forecast to 2022", published by MarketsandMarkets™, The cerium oxide nanoparticles market is projected to reach USD 630.2 Million by 2022 from USD 259.7 Million in 2017, at a CAGR of 19.4% from 2017 to 2022.
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The growth of cerium oxide nanoparticles market across the globe is fueled by the growing demand for cerium oxide nanoparticles from Chemical Mechanical Planarization (CMP) and biomedical applications. Cerium oxide nanoparticles that are made of cerium, a rare earth metal belonging to the lanthanide series, is capable of existing in a dual oxidation state and hence is useful for various applications.
Dispersion is the largest form segment of the cerium oxide nanoparticles market and is projected to grow at the highest CAGR from 2017 to 2022.
Dispersion is the largest form segment and is expected to witness a high growth in the cerium oxide nanoparticles market during the forecast period. Dispersion form is capable of retaining the particle size in different applications and can be formulated in smaller quantities. Hence, this form is preferred over the powdered form of cerium oxide nanoparticles.
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Among applications, biomedical is expected to be the fastest-growing segment in the cerium oxide nanoparticles market from 2017 to 2022.
Biomedical is expected to be the fastest-growing application segment during the forecast period, due to increased awareness about the potential applications for cerium oxide nanoparticles in this field. Extensive study is being carried out to understand the potential use of cerium oxide nanoparticles in the biomedical application due to their various properties.
North America is the largest market for cerium oxide nanoparticles across the globe.
North America is the largest market for cerium oxide nanoparticles, in terms of value, and this trend is expected to continue till 2022. Countries in this region such as US, Canada, and Mexico are witnessing a significant increase in the use of cerium oxide nanoparticles in the CMP application. The US is the fastest-growing market of cerium oxide nanoparticles in this region during the forecast period.
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Cerion (US), Plasmachem (Germany), American Elements (US), Inframat Advanced Materials (US), NYACOL Nano Technologies (US), and Nanophase Technologies (US), are some of the leading players operating in the cerium oxide nanoparticles market. These companies are adopting various strategies, such as expansions, new product launches, and partnerships to increase their market shares and strengthen their position in the cerium oxide nanoparticles market.
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