Cerium Metal Market to Grow with a CAGR of 2.47% through 2030
Surge in research and development activities is
expected to drive the Global Cerium Metal Market growth in the forecast period,
2026-2030.
According to TechSci Research report, “Cerium Metal
Market - Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2030F”, the Global Cerium Metal Market stood at USD 339.40
Million in 2024 and is anticipated to grow with a CAGR of 2.47% through 2030. Initiatives
taken by government based on cerium metal has led to favorable market
conditions for the Global Cerium Metal Market. Several factors contribute to
the growth of various cerium metal products.
One of the primary factors driving R&D activities
in the cerium metal market is the development of new and advanced applications.
Cerium is widely used in automotive catalysts, polishing powders, and
energy-efficient technologies. As industries strive to meet more stringent
environmental regulations and sustainability targets, the demand for cerium is
expected to grow. The automotive industry, for instance, is increasingly
relying on cerium-based catalysts to reduce harmful emissions and improve fuel
efficiency. R&D efforts focused on optimizing these applications are ensuring
that cerium remains a key component in meeting global environmental standards.
One of the primary government actions impacting the cerium market is the increasing focus on reducing environmental pollution through stricter emission regulations. As cerium is a key component in catalytic converters used to reduce vehicle emissions, various governments, especially in Europe, North America, and Asia, have enforced stringent standards for the automotive industry. These regulations are driving the demand for cerium-based catalysts in vehicles, thus increasing the need for cerium production. Governments are also offering incentives to automakers who comply with these emission reduction targets, thereby boosting the use of cerium in catalytic converters.
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The Global Cerium Metal Market is segmented into sales
channel, end use, regional distribution, and company.
Based on Sales Channel, Indirect have
emerged as the dominating segment in the Global Cerium Metal Market in 2024. One
of the primary reasons for the dominance of indirect sales in the cerium metal
market is the efficiency with which they can cover large geographical areas.
Distributors and wholesalers are already deeply embedded in regional markets
and have the necessary logistical capabilities to ensure that cerium metal is
readily available across different sectors, including automotive, renewable
energy, electronics, and industrial applications. These intermediaries possess
local expertise and infrastructure, which allows them to navigate complex
regulatory environments, manage inventory, and ensure timely delivery of
products to end-users.
Based on Region, North America have emerged as the fastest
growing region in the Global Cerium Metal Market in 2024. North America is
experiencing significant growth in the electric vehicle market, particularly in
the United States and Canada. Cerium is a critical material used in the production
of permanent magnets for motors in electric vehicles, as well as in wind
turbine generators. The region’s increasing adoption of green technologies and
commitment to sustainability are driving demand for cerium, which is essential
for these energy-efficient applications. As the demand for EVs and renewable
energy sources expands, the need for cerium will continue to rise, propelling
the market’s growth in North America.
Major companies operating in Global Cerium Metal
Market are:
- Arafura Resources Ltd
- Lynas Rare Earths Ltd
- Avalon Rare Metals Inc.
- Rainbow Rare Earths Ltd
- Metall Rare Earth Limited
- Hefa Rare earth Canada Co. Ltd.
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“In the field of catalysis, cerium-based nanoparticles
are gaining traction due to their improved surface area and reactivity compared
to their bulk counterparts. These nanoparticles are being increasingly utilized
in catalytic converters, which help reduce harmful emissions from automotive
exhaust systems, as well as in fuel cells and other energy-efficient
technologies. The ability to enhance cerium's catalytic properties through
nanotechnology is expected to meet the growing demand for cleaner and more
sustainable energy solutions”, said Mr. Karan Chechi, Research Director of
TechSci Research, a research-based management consulting firm.
“Cerium Metal Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Sales Channel (Direct, Indirect), By End Use (Catalyst, Polishing Powder, Glass & Ceramics, Others), By Region and Competition, 2020-2030F”, has evaluated the future growth potential of Global
Cerium Metal Market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Cerium Metal Market.
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