Throughout the projection period, the biomedical segment is anticipated to experience significant revenue growth.
The global Cerium Oxide Nanoparticles Market had a valuation of USD 54.52 Million in 2022 and is projected to reach USD 2612.85 Million by 2032, displaying a robust compound annual growth rate (CAGR) of 19% throughout the forecast period. One of the primary drivers behind this impressive revenue growth is the escalating demand for cerium oxide nanoparticles across various sectors such as healthcare, automotive, energy, and electronics, among others. These nanoparticles find extensive utility in these industries for diverse applications, including radiation shielding, fuel cells, cleaning processes, and catalysis, among others.
Within the healthcare sector, cerium oxide nanoparticles are extensively utilized, owing to their exceptional antioxidant properties. This makes them invaluable in a wide array of applications such as drug delivery, gene therapy, and cancer treatment. Furthermore, the increasing prevalence of chronic diseases, including cancer, cardiovascular diseases (CVDs), and neurological disorders, is contributing to the rising demand for cerium oxide nanoparticles in the healthcare industry, further bolstering market revenue growth.
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Top Lading Players: Cerion (US), Plasmachem (Germany), American Elements (US), Inframat Advanced Materials (US), NYACOL Nano Technologies (US), Nanophase Technologies (US), Meliorum Technologies, SkySpring Nanomaterials, American Elements, Strem Chemicals.
Cerium Oxide Nanoparticles Market Upcoming Growth:
The cerium oxide nanoparticles market is expected to experience significant growth in the upcoming years. Cerium oxide nanoparticles, also known as ceria nanoparticles, are used in various industries such as energy, healthcare, and electronics. The increasing demand for efficient and cost-effective solutions and the growing need for sustainable technologies are driving the growth of the cerium oxide nanoparticles market.
One of the major drivers for the growth of the cerium oxide nanoparticles market is the increasing demand for fuel-efficient vehicles. Cerium oxide nanoparticles are used as a catalyst in automotive exhaust systems to reduce harmful emissions and improve fuel efficiency. The need for efficient and cost-effective solutions for reducing emissions from vehicles is driving the demand for cerium oxide nanoparticles.
Moreover, the increasing demand for medical and healthcare applications is also driving the growth of the market. Cerium oxide nanoparticles are used in medical applications such as drug delivery, imaging, and wound healing due to their biocompatibility and antioxidant properties. The need for sustainable and cost-effective solutions in the healthcare industry is driving the demand for cerium oxide nanoparticles.
Additionally, the growing demand for electronics and renewable energy sources is expected to drive the demand for cerium oxide nanoparticles. Cerium oxide nanoparticles are used in electronic applications such as display screens and energy storage devices due to their unique optical and electrical properties. The increasing focus on renewable energy sources such as solar and wind power is also driving the demand for cerium oxide nanoparticles.
The Asia-Pacific region is expected to be the largest market for cerium oxide nanoparticles due to the increasing demand for fuel-efficient vehicles, the growing healthcare industry, and the increasing investments in renewable energy sources in the region. The region is also home to several major manufacturers of cerium oxide nanoparticles, which is driving the growth of the market.
Overall, the cerium oxide nanoparticles market is expected to experience significant growth in the upcoming years due to the increasing demand for efficient and cost-effective solutions, the need for sustainable technologies, and the growing demand for fuel-efficient vehicles, healthcare applications, electronics, and renewable energy sources.
Some Key Highlights from the Report:
- Cerium oxide nanoparticles market is growing at a CAGR of 5% in the Asia Pacific, followed by North America and Europe, with 19.4 % and 19.3% CAGR, respectively. Increased R&D activities, coupled with high penetration of cerium oxide nanoparticles in various industrial applications, are expected to drive the market growth.
- As of 2018, Dispersion form type is the dominating Cerium oxide nanoparticle, which holds 64.1% of the global market. North American regional market is the chief revenue-generating source for this product segment, followed by Europe and Asia-Pacific regions
- An increase in applications and demand from various end-use industries coupled with funding support from research & development and decrease in cerium oxide nanoparticles are expected to drive the market growth.
- The key market players are adopting strategies like launching new products to satisfy a large number of customers. For example, Cerion advanced materials announced a cost-effective, flexible synthesis process that yields high-purity ceria nanoparticle dispersions suited for chemical mechanical planarization (CMP) and other polishing applications.
- Exposure to cerium oxide nanoparticle through inhalation is a significant concern as the lungs and lymph nodes associated with are targeted first and later get distributed to other parts like spleen, liver, and kidney.
- According to research, it was observed that exposure to high doses of nanoceria resulted in DNA damage in liver cells and peripheral blood leukocytes, cytogenetic changes, and micronucleus formation in the bone marrow.
- For the production of bio-relevant nanoparticle, synthesis parameters need to be carefully optimized to select for beneficial physiochemical properties.
- Cerium oxide nanoparticles assist in inhibited production of reactive oxygen species, cell migration, and invasion of ovarian cancer cells without affecting the healthy cells and successfully curbing the growth of cancerous cells.
- Green synthesis methods that use biocompatible stabilizers are increasingly gaining relevance in the production of cerium oxide nanoparticles and their biomedical applications.
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Segments covered in the report:
By Application Outlook:
- Catalysts
- Polishing Agents
- Biomedical
- Energy Storage
- Others
By End-use Industry:
- Automotive
- Electronics
- Medical
- Energy
- Others
Regional scope:
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
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