The report " Ceria-Zirconia Market By Form, By Purity, By Applications and By Region - Global Forecast to 2029" is projected to grow at a CAGR of 3.23% during the forecast period (2021 – 2029).
The growth of the global ceria-zirconia market is driven by a rising demand for catalyst agents in three way catalysis (TWC), reformation of hydrocarbons, dehydration of alcohol, etc., coupled by the advancement in chemical technology that promotes efficient synthesis of ceria-zirconia. However, costs associated with the manufacturing process, along with complexities in supply chain during ceria-zirconia transfer, is expected to generate hurdles in the growth of the global ceria-zirconia market.
The Ceria-Zirconia Market is Expected to See Growth after the COVID-19 pandemic
The COVID-19 pandemic has caused immense damage in terms of global revenue, along with the loss of millions of lives in the last couple of years. Government bodies in numerous regions like North America, Europe, the Asia Pacific, amongst others have been left with no other option apart from enforcing lockdown protocols to prevent the spread of the coronavirus. The supply chain has also been drastically affected by the pandemic due to a shortage in employees. Companies have also been forced to downsize considerably due to the reduction in revenue during the pandemic. The global ceria-zirconia market growth was affected due to the pandemic, as companies found it difficult to reach clients during the lockdown situation in many countries. The utilization of ceria-zirconia for reforming hydrocarbons also saw a fall due to the global reduction in hydrocarbon-based fuel consumption. However, the market is recovering at a rapid pace since government bodies are opening up the borders, and the supply chain is recovering fast. Hence, the market is expected to see considerable growth in the coming years since the pandemic is slowly getting under control due to the availability of vaccines and the development of herd immunity amongst individuals.
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Companies are Increasingly Producing Highly Pure (99.9%) Ceria-Zirconia Products as a result of The Greater Demand for These Products in Chemical Applications
Ceria–zirconia are mostly used in the oxide form as catalysts or catalyst supports, both in the liquid and gaseous form. Doping zirconium oxide along with ceria-zirconia makes the resulting compound extremely reactive but considerably stable. It has enhanced reduction capabilities due to the higher oxygen storage capacity, which makes it useful in the three-way catalysis (TWC) process. Pure form of ceria-zirconia is essential for this process, which in turn enhances the demand for highly pure products in the global ceria-zirconia market. American Elements, for instance, is providing cerium zirconium oxides products with 99.9%, 99.95% and 99.999% purity which makes it a viable product for chemical applications. These factors are ensuring that ceria-zirconia with high purity is being synthesized in the global ceria-zirconia market.
By Region, North America is Expected to Grow Considerable in the Coming Years
North America is heavily investing in chemical synthesis to boost local manufacturing and employment opportunities. Mexico, for instance, has vast amounts of unused lands which can be used for setting up chemical factors for the processing of ceria-zirconia. Due to uncertainties pertaining to political relations between China and the U.S., the latter is increasingly encouraging companies to setup factors in the country to ensure availability of ceria-zirconia for various applications. These factors are expected to propel the growth of the North American ceria-zirconia market in the coming years.
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The key players operating in the global Ceria-Zirconia Market are listed below:
- Alfa Aesar, Thermo Fisher Scientific.
- Ambinter byGreenpharma
- American Elements
- DAIICHI KIGENSO KAGAKU KOGYO CO., LTD.
- Merck Group
- Nanochemazone
- NANOKER
- NEO
- Shandong Guoci Functional Materials Co., Ltd.
- Other Market Participants
Absolute Markets Insights 420+ pages research study on Global Ceria-Zirconia Market includes extensive information on the following pointers:
- Global Market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2019 has been considered as historic years, 2020 as the base year, while 2021 to 2029 has been considered as the forecast period.
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Market Dynamics (Drivers, Restraints, Opportunities and Challenges)
- Market determinants and Influencing Factors
- Technological Trends
- Macro-Economic and Micro-Economic Indicators
- Global and Regional Impact of Covid-19 on Global Ceria-Zirconia Market
- Porter’s Five Forces Analysis
- Competitive Benchmarking: Global Presence and Growth Strategies
- Mergers and Acquisitions
- R&D Initiatives
- Product Launches
- Investments Trends
- Market Share Analysis, 2020
- Detailed insights of major market participants operating in the market, including information on company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies
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Global Ceria-Zirconia Market
By Form
-
- Nanoparticle
- Nanopowder
By Purity
-
- 99%
- 99.5%
- 99.9%
By Applications
-
- Bearings
- Desalination Plant Components
- Steam System Instrumentation
- Boiler Probes
- Underwater Sensors
- Pump Pistons
- Medical Instrumentation
- Pump Liners
- Valve Seats
- Emission Sensors
- Marine System Components
- Chemical Pumps
- Fluid Metering Pumps
- Fluid Control Valves
- Fuel Cell
- Chemical Analysis Fluid Control Systems
- Hydrocarbon Reformation
- Photocatalysis
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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