Global Cerium Oxide Nanoparticles TOC
Cerium Oxide Nanoparticles Market size was valued at USD 765.23 Million in 2023 and is poised to cross USD 6.24 Billion by the end of 2036, registering more than 19.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of cerium oxide nanoparticles is estimated at USD 811.3 Million.. The growth of the market is set to be influenced by the growing demand for renewable energy. Over the past two decades, there has been an enormous rise in the usage of renewable energy worldwide. In 2022, consumption almost reached about 44 exajoules. Hence, the usage of cerium oxide nanoparticles in a number of applications is being influenced by the rising demand for renewable energy sources and the global need to lower pollution levels.
Due to their strong chemical reactivity, high oxygen storage capacity, and low emissions rate, cerium oxide nano particles are increasingly being employed as the electrolyte in solid oxide fuel cells. Additionally, governments are bringing forward measures to generate renewable energy in an effort to lower pollution levels and global carbon emissions. Hence, owing to this the market is also expected to boost.
Author Credits: Rajrani Baghel
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