Portland, OR -- (SBWIRE) -- 10/13/2017 -- The industry players made significant investments on new commercial avenues for their product segments via strategic partnerships & collaborations. Governmental funding towards extensive research and development activities coupled with an increasing support for application of cerium oxide nanoparticles. There is a rise in demand for cerium oxide nanoparticles from various end-user industries and an increase in application scope owing to its superior properties.

Cerium Oxide Nanoparticles Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $734 million by 2022, registering a CAGR of 21.7%. during the forecast period 2016 - 2022. It is anticipated that biomedical segment would generate the highest revenue throughout the forecast period.

In the year 2015, polishing was the largest end-user industry, with about one-third value share of cerium oxide nanoparticles market, followed by catalyst, biomedical, energy storage and personal care & cosmetic products segment.

Growth in investment towards research and development, penetration of cerium oxide nanoparticles in various application industries, and excellent physio-chemical properties of cerium oxide nanoparticles drive its demand in various applications. Cerium oxide nanoparticles are usually added in small quantities to improve the performance of the end-product.

Key Market Segments

By Application

-Energy Storage
-Polishing
-Catalyst
-Personal Care & Cosmetic Products
-Biomedical
-Others (Coatings, Fuel Cell, Gas Sensors and Fuel Additive etc.)