The Global Cerium Market size is projected to grow at a CAGR of 5.2% during the forecast period and reach $1,835 million by 2028. The growth can be attributed to factors such as increasing demand for electronics sector ceramics, growing population and construction industry across the globe, and rising per capita income leading to increased consumption of electronic devices. North America is expected to dominate the global market while Asia Pacific will register the highest CAGR during 2021 - 2028 due to its booming electronics sector which demands high amounts of ceramics like CeO2 & Cr2O3. However, the high price of raw materials will act as a major restraining factor for the growth of this market.
Cerium is a rare earth metal and has the atomic number 58. Cerium found naturally in combination with other elements such as lanthanum, which makes up most of its mineral content. These minerals are used to make ceramics that have good electrical properties useful for electronics industry applications including glass-ceramic cookware & insulators in power lines. Other than its use in manufacturing, it also finds application in ceramic glazes, metallurgical processes like steel making, high-temperature alloys (elements like titanium), catalysts for petroleum cracking reactions as well as fertilizers.
On the basis of Type, the market is segmented into Dispersion, Powder.
Dispersion can refer to two different types of cerium products; both are used in a variety of applications including electronics manufacturing and construction materials such as concrete or drywall where they give off a bright light when exposed to ultraviolet radiation.
Dispersion is used in nanotechnology for semiconductors and LEDs. It can also be found in pyrotechnics, photography, electrochemistry, laser technologies, and chemical industries such as water purification or ore processing. In the electronics sector, dispersion cerium products are typically applied to silicon wafers during manufacturing to improve their quality by strengthening them against damage from various conditions including high temperatures or radiation exposure. When it comes to construction materials like cement, for example, a thin layer of this material on drywall gives off light when hit with ultraviolet rays which makes it easier for people at night time find objects they have lost without having to turn lights on inside buildings - an affordable alternative to expensive security lighting systems that require a power supply.
Cerium powder, sometimes called cerium oxide or ceric oxide, is a ceramic material with unusual properties of high-temperature melting point and low thermal expansion. Cerium has the highest melting temperature among all common metals. It sublimes at 1330 °C (2400 K). This property makes it useful as an additive to metal ores in order to create materials that have excellent wear resistance such as glassy coatings on steel cutters.
Powder Cerium can be used for machining titanium and other difficult-to-machine metals due to its ability to withstand extreme heat while not oxidizing like graphite do when subjected to temperatures over 1500 degrees Fahrenheit. Powders are easier than blocks because they are often ground to a specific size.
On the basis of Application, the market is segmented into Electronics Sector, Manufacture, Construction, and Others. In the Electronic sector, cerium is used as a dopant in semiconductors to make them more resistant to radiation damage. Cerium oxide has been found to be an effective phosphor for white LEDs because of its high brightness and efficiency at converting energy into light (lumens per watt). In addition, it can also be combined with other materials such as zinc sulfide or calcium tungstate to produce red LED lamps that operate on low voltage power supplies. Elevated levels of cerium have been linked with higher rates of prostate cancer risk among smokers who are exposed to cigarette smoke containing radioactive polonium-210 via inhalation.
On the basis of Region, the market is segmented into North America, Latin America, Europe, and the Asia Pacific. The North American region is estimated to account for the largest share of the global cerium market. High consumption levels in this region are due to factors such as high demand from a number of industries and a growing population. The Latin American region is estimated to be among the fastest-growing markets, with significant growth anticipated over the forecast period on account of increased construction activities in emerging economies such as Brazil, Colombia, etc., coupled with low availability thereof. The Asia Pacific is expected to register steady progress owing to rising investment by various organizations across China and India. The Middle East & Africa regions will see moderate growth rates mainly driven by increasing investments and developments in countries like Saudi Arabia, Qatar, South Africa, etc.
Up Market Research published a new report titled “Cerium Market research report which is segmented by Types (Dispersion, Powder), By Applications (Electronics Sector, Manufacture, Construction, Others), By Players/Companies Avalon Rare Metals, China Minmetals Rare Earth, Baotou Hefa Rare Earth, Lynas”.
|Report Attributes||Report Details|
|Report Title||Cerium Market Research Report|
|By Type||Dispersion, Powder|
|By Application||Electronics Sector, Manufacture, Construction, Others|
|By Companies||Avalon Rare Metals, China Minmetals Rare Earth, Baotou Hefa Rare Earth, Lynas|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||234|
|Number of Tables & Figures||164|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Dispersion, Powder and By Application Electronics Sector, Manufacture, Construction, Others.
Some of the companies that are profiled in this report are:
Cerium Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Cerium Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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