The cerium oxide nanoparticles market is projected to reach USD 630.2 Million by 2022, at a CAGR of 19.4% from 2017 to 2022. The growth of the cerium oxide nanoparticles market can be attributed to the increased use of these nanoparticles in various applications, such as Chemical Mechanical Planarization (CMP), catalyst, biomedical, energy and others due to their excellent optical, magnetic, catalytic, and electronic properties.
New product launches and expansions are key growth strategies adopted by market players to maintain and enhance their position in the cerium oxide nanoparticles market. Leading players in this market are also focusing on joint ventures & partnerships to increase their market shares.
Major manufacturers operating in the cerium oxide nanoparticles market are Cerion (US), Plasmachem (Germany), American Elements(US), Inframat Advanced Materials (US), NYACOL Nano Technologies (US), and Nanophase Technologies (US). These companies adopted both organic and inorganic growth strategies to strengthen their position in the cerium oxide nanoparticles market.
Cerion (US) is a key player in the cerium oxide nanoparticles market. It accounted for the largest share of all the developmental activities undertaken in the cerium oxide nanoparticles market. The company is also focused on investing in research & development activities to develop newer technologies. The company introduced a cost-effective synthesis process that yields uniform and high-purity ceria nanoparticle dispersions, which are useful for various applications. The company partnered with Alfa Aesar (US) and Strem Chemicals (US) in 2014. This partnership helped Cerion distribute its products and improve customer base.
Plasmachem (Germany) is another company that has established a strong foothold in the cerium oxide nanoparticles market. The company partnered with two companies, Filgen (Japan) in 2016 and 3D-nano (Poland) in 2015 to improve its presence and enhance customer base in Japan and Poland. The company is also highly focussed on technological advancements and developing innovative products by collaborating with renowned universities, research institutes, and companies.
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
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