Global Cerium Oxide Nanoparticles Market To Be Driven By The Growing Pharmaceutical Sector In The Forecast Period Of 2023-2028 | EMR Inc.
The new report by Expert Market Research titled, ‘Global Cerium Oxide Nanoparticles Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global cerium oxide nanoparticles market, assessing the market based on its segments like application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 0.5 Billion
• Forecast CAGR (2023-2028): 14%
• Forecast Market Size (2026): USD 1.1 Billion
The pharmaceutical sector, based on application, is anticipated to hold a significant share in the cerium oxide nanoparticles market. Rising investments by leading players is boosting the pharmaceutical sector which in turn is aiding the demand for cerium oxide. The growing incidence of various diseases owing to improper lifestyle and augmenting geriatric population is also predicted to boost the pharmaceutical market and contribute towards the market growth of cerium oxide nanoparticles market during the forecast period. The presence of major cerium oxide players in the North American region and its increased usage for biomedical purposes is expected to make it hold a significant share in the market in the forecast period. Antibacterial properties and neurodegenerative potential of cerium oxide nanoparticles, among others, are strengthening their demand in the biomedical sector.
Major Segments in the Market
Cerium oxide (CeO2) nanoparticles are metal oxide nanoparticles which possess antimicrobial property and have the ability to efficiently remove pathogens from different environments. It is an inorganic antioxidant with catalytic activities.
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Based on application, the market is segmented into:
• Energy Storage
• Polishing Agent
• Personal Care
• Pharmaceuticals
• Others
The major regional markets include:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
Market Trends
According to the statistics from World Bank, around 9 million deaths are caused as a result of air, water and land pollution, annually, and it is the number one reason for premature deaths. Moreover, air pollution alone is responsible for a damage worth USD 5.7 trillion, in health, raising the economic burden. The rising demand for renewable energy production for restraining pollution levels across the globe is aiding the demand for cerium oxide nanoparticles. In the same light, governments are also strategising their policies in order to address the issues of pollution and carbon levels. Cerium oxide nanoparticles are utilised as an electrolyte, owing to its chemical reactivity, oxygen storage capacity and low emission rate, in solid oxide fuel cells. Along with this, its UV light filtration potential has augmented its usage in personal care products which in turn is anticipated to help the market of nanoceria in the forecast period.
Key Market Players
The major players in the market are Meliorum Technologies, Inc., Strem Chemicals, Inc., Nanophase Technologies Corporation, SkySpring Nanomaterials, Inc., Inframat® Advanced Materials™, LLC, and PlasmaChem GmbH, among others.
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