By 2028, the cerium market will reach US$340.9 million | CAGR: 3.8%: Grand View Research, Inc.

2021-11-25 06:05:18 By : Mr. Glenn Yang

Call 888-776-0942 from 8 a.m. to 10 p.m. Eastern Time

San Francisco, November 4, 2021/PRNewswire/-According to a new report by Grand View Research, Inc., the global cerium market is expected to reach US$340.9 million by 2028. The market is expected to grow at a compound annual growth rate from 2021 to 2028, an increase of 3.8%. With the application of cerium oxide in semiconductor products, the demand for electronic products is expected to benefit the market.

The strong adsorption capacity and radiation stability have increased the popularity of cerium in semiconductor applications. The growing demand for electronic products such as smart phones, computers, notebook computers, consumer electronics, automotive electronics and other industrial electronics is expected to drive demand for semiconductors, thereby benefiting the growth of the industry.

Read the 95-page market research report, "Cerium market size, share and trend analysis report by application (glass, catalyst, alloy), forecast by region (North America, Europe, Asia Pacific) and market segment, 2021-2028 ", Author: Grand View Research

Emerging economies such as India, Brazil and Southeast Asian countries are expected to remain the fastest-growing markets for electronic products. Some of the influencing factors that may drive these markets include the decline in electronic product prices, the increase in disposable income, and the growth of the middle-class population. For example, it is estimated that by 2025, India's middle-class population may increase from 250 million in 2020 to more than 580 million.

The main demand of the market comes from the glass industry, mainly from glass polishing applications. Cerium products are used for polishing purposes. They can also smooth indentations and tiny bumps on the glass surface. Many companies invest in research and development activities to reduce the waste generated during the glass polishing process. For example, Konica Minolta, Inc. has introduced cerium oxide polishing recycling technology to its optical equipment production bases in Japan and overseas. This helps the company reduce the waste generated in the process, thereby reducing the use of cerium by about 10% compared to the previous level.

In the past 2-3 years, the use of cerium in catalyst applications, mainly in automobile exhaust emissions, has increased at a faster rate. The global focus on reducing greenhouse gas emissions has forced automakers to develop technologies that can effectively reduce these emissions. Therefore, as governments begin to tighten various emission regulations, the demand for products may rise.

Grand View Research has segmented the global cerium market based on applications and regions:

List of major players in the CE market

Browse Grand View Research's report on the global advanced interior materials industry:

Visit Grand View Compass, our BI enables an intuitive market research database of more than 10,000 reports

Grand View Research is a US-based market research and consulting company that provides joint and customized research reports and consulting services. The company is registered in California, headquartered in San Francisco, has more than 425 analysts and consultants, and adds more than 1,200 market research reports to its huge database every year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and well-known academic institutions understand the global and regional business environment and seize future opportunities.

Sherry James Enterprise Sales Specialist, Grand View Research, Inc., USA Tel: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: [Email Protection] Website: https://www.grandviewresearch. com us: LinkedIn | Twitter 

SOURCE Grand View Research, Inc.

More news releases on similar topics

Cision Distribution 888-776-0942 8 a.m. to 9 p.m. Eastern Time