The changing dynamics in Cerium Oxide Nanoparticles Market with covid-19 impact assessment
June 10, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Cerium Oxide Nanoparticles Market.
It was estimated prior to this unanticipated outbreak that the Cerium Oxide Nanoparticles Market was expected to grow at a CAGR of 21.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Cerium oxide nanoparticles usually referred to as nanoceria, are nanoparticles of ceria bearing diameter of 1–500 nm. Ceria is a rare earth metal belonging to the lanthanide series in the periodic table. It is plentifully found in monazite and bastnaesite rocks.
Cerium oxide nanoparticles have gained paramount importance in recent times owing to the presence of reactive oxygen. They own high oxygen storage capacity and can effortlessly transit between trivalent and tetravalent states.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the form type, the market is segmented as dispersion and powder. The dispersion form type segment is estimated to lead the market during the forecast period.
Based on the application type, the market is segmented as chemical mechanical planarization (CMP), catalyst, biomedical, energy, and others. The biomedical application type segment is estimated to lead the market during the forecast period. Driven by the presence of reactive oxygen species (ROS) cerium oxide nanoparticles are used for various biomedical applications. These particles hold neurodegenerative effect, antibacterial activity, SOD mimicking activity, catalase mimicking activity, and peroxidase mimicking activity. Current studies suggest that cerium oxide nanoparticles also own antioxidant properties for other applications. Thus, the increased government funding to comprehend the potential applications of cerium oxide nanoparticles is expected to bolster the demand for cerium oxide nanoparticles in the biomedical applications.
In terms of regions, North America is the largest market for cerium oxide nanoparticles and Asia-Pacific is fast growing market, in terms of value. Countries in North America are portraying a significant increase in the use of cerium oxide nanoparticles in CMP and biomedical applications. The region is depicting a growth in the healthcare industry and the presence of the largest producers and exporters of semiconductors is propelling the market for cerium oxide nanoparticles. The US was the largest market for cerium oxide nanoparticles in 2018 in this region and is expected to maintain its dominance during the forecast period as well. Europe is also expected to offer substantial growth opportunities in the coming five years.
Key Players:
Some of the major players in the cerium oxide nanoparticles market are American Elements, ANP Corporation, Cerion, LLC, Inframat Advanced Materials LLC, Meliorum Technologies, Inc., Nyacol Nano Technologies Inc., Nanophase Technologies Corporation, Plasmachem GmbH, and Skyspring Nanomaterials, Inc.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Cerium Oxide Nanoparticles Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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