Cerium (IV) Oxide Market Size & Growth Analysis to 2030

The global cerium (IV) oxide market size was valued at around USD 300 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of around 3.8% during the forecast period from 2023 to 2030. The growth of the cerium (IV) oxide market is primarily driven by the increasing demand for rare earth metals for various applications such as automotive, electronics, and energy. Cerium (IV) oxide is used as a catalyst in automotive and energy industries to reduce emissions and increase fuel efficiency. It is also used as a polishing agent in the electronics industry for the production of high-quality glass and lenses.

Moreover, the increasing use of cerium (IV) oxide in medical applications, such as the treatment of cancer and liver diseases, is expected to drive market growth in the coming years. However, the high cost of production and supply chain disruptions caused by the COVID-19 pandemic may hinder market growth to some extent. Cerium (IV) oxide is widely used as a catalyst in automotive exhaust systems to reduce emissions. As governments around the world continue to tighten emission regulations, the demand for cerium (IV) oxide in the automotive industry is expected to increase.

Cerium (IV) oxide is used as a catalyst in the production of hydrogen fuel cells, which are increasingly being used in renewable energy systems. As the renewable energy sector continues to grow, the demand for cerium (IV) oxide is expected to increase. Furthermore, cerium (IV) oxide is used in the manufacture of electronic components such as capacitors and sensors. The growing demand for electronic devices, particularly in developing countries, is expected to drive the demand for cerium (IV) oxide.

The Asia-Pacific is the largest market for cerium (IV) oxide, driven by growing demand in the automotive and electronics industries. The region is expected to continue to dominate the market over the coming years. Furthermore, the ongoing research and development activities in the field of nanotechnology are expected to open up new applications for cerium (IV) oxide, which could further drive the market in the future.

Market Snapshot:

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Market Insights:

Global Cerium (IV) Oxide Market Analysis by Type

The global cerium (IV) oxide market is bifurcated into type, application, and geography. On the basis of type, the market is further segmented into technical grade, pharmaceutical grade, high-purity grade, and ultra-high-purity grade. The demand for technical grade cerium (IV) oxide is expected to remain high due to its wide range of applications in various industries. However, the demand for high-purity and ultra-high-purity grade cerium (IV) oxide is expected to grow in the coming years due to the increasing demand for advanced technologies such as solid oxide fuel cells and advanced batteries.

Technical grade: Technical grade cerium (IV) oxide is the most widely used type of ceric oxide. It is used in various industrial applications such as polishing agents, catalysts, and fuel additives. Technical grade cerium (IV) oxide typically has a purity level of 99% or less.

Pharmaceutical grade: Pharmaceutical grade cerium (IV) oxide is used in the production of various medical products such as drugs and medical devices. It is also used in the treatment of cancer and liver diseases due to its antioxidant and anti-inflammatory properties. Pharmaceutical-grade cerium (IV) oxide typically has a purity level of 99.9% or higher.

High-purity grade: High-purity grade cerium (IV) oxide is used in advanced applications such as the production of solid oxide fuel cells and advanced batteries. High-purity grade cerium (IV) oxide typically has a purity level of 99.99% or higher.

Ultra-high-purity grade: Ultra-high-purity grade cerium (IV) oxide is used in the most advanced applications such as the production of semiconductors and high-performance ceramics. Ultra-high-purity grade cerium (IV) oxide typically has a purity level of 99.999% or higher.

Global Cerium (IV) Oxide Market Analysis by Applications

On the basis of application, the global cerium (IV) oxide market is bifurcated into catalysts, polishing agents, medical applications, energy storage, fuel additives, and others. the increasing demand for rare earth metals and the growing need for cleaner and sustainable technologies are expected to drive the demand for cerium (IV) oxide in various applications. The market is expected to witness steady growth in the coming years, driven by the growth of industries such as automotive, energy, and electronics.

Catalysts: Cerium (IV) oxide is widely used as a catalyst in various industries such as automotive, chemical, and energy. It is used in catalytic converters in automobiles to reduce emissions and increase fuel efficiency. The growing demand for cleaner and sustainable energy sources is expected to drive the demand for cerium (IV) oxide as a catalyst in the energy industry.

Polishing agent: Cerium (IV) oxide is used as a polishing agent in the glass and optics industry. It is used to polish lenses, mirrors, and other glass components to improve their clarity and quality. The growing demand for high-quality glass and lenses in various industries such as electronics, aerospace, and defense is expected to drive the demand for cerium (IV) oxide as a polishing agent.

Energy Storage: Cerium (IV) oxide, also known as ceric oxide, is finding increasing applications in the field of energy storage. The use of cerium (IV) oxide in energy storage applications is expected to grow in the coming years due to the increasing demand for clean and renewable energy sources. The properties of cerium (IV) oxide, such as its high conductivity, stability, and low cost, make it an attractive material for use in energy storage applications.

Medical applications: Cerium (IV) oxide is used in various medical applications such as the treatment of cancer and liver diseases. It has antioxidant and anti-inflammatory properties that make it effective in treating these diseases. The growing demand for advanced medical treatments and the increasing prevalence of cancer and liver diseases are expected to drive the demand for cerium (IV) oxide in medical applications.

Fuel additive: Cerium (IV) oxide is used as a fuel additive to improve the combustion efficiency of fuels. It is added to diesel and gasoline fuels to improve their performance and reduce emissions. The growing demand for cleaner and sustainable fuels is expected to drive the demand for cerium (IV) oxide as a fuel additive.

Other applications: Cerium (IV) oxide is also used in various other applications such as the production of catalysts, pigments, and coatings. It is also used in the production of ceramics, glass, and electronics.

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The cerium (IV) oxide market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

• 2020-21 – Historical Year
• 2022 – Base Year
• 2023-2030 – Forecast Period

Market Segmentation:

By Type:

• Technical Grade
• Pharmaceutical Grade
• High-purity Grade
• Ultra-high-purity Grade

By Application:

• Catalysts
• Polishing Agent
• Medical Applications
• Energy Storage
• Fuel Additive
• Other

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, the cerium (IV) oxide market report comprises dedicated sections centering on the regional market revenue and trends. The cerium (IV) oxide market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The cerium (IV) oxide market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Cerium (IV) oxide market estimates have also been provided for the historical years 2020 & 2021 along with forecasts for the period from 2023 – 2030.

Competitive Assessment:

Some of the prominent market players operating in the global cerium (IV) oxide market are Solvay, DuPont, Nanophase, Nyacol, and HEFA Rare Earth. The development of new nanotechnologies has led to the creation of cerium (IV) oxide nanoparticles, which have unique properties and applications. These nanoparticles are being used in various industries, including healthcare, electronics, and energy. Cerium (IV) oxide is a key component in the production of hydrogen fuel cells, which are being increasingly used in renewable energy systems. As the demand for renewable energy continues to grow, the demand for cerium (IV) oxide is expected to increase.

Key Companies:

• Solvay
• DuPont
• Nanophase
• Nyacol
• HEFA Rare Earth
• SkySpring
• EPRUI Nanomaterials and Microspheres
• Reinste
• Meliorum Technologies
• NovaCentrix
• Xuancheng Jingrui

Key Questions Answered by Cerium (IV) Oxide Market Report

• Global cerium (IV) oxide market forecasts from 2023-2030
• Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
• Cerium (IV) oxide submarket forecasts from 2023-2030 covering the market by type, application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level cerium (IV) oxide markets from 2023-2030
• Competitive Landscape and market positioning of the top 10 players operating in the market