PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1519314

PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1519314

Cerium Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

PUBLISHED: July 16, 2024

PAGES: 250 Pages

DELIVERY TIME: 2-5 business days

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Description

The global cerium market is set to grow significantly, with forecasts predicting it will reach $275.4 million by 2024. This growth is primarily driven by the increasing demand for rare earth metal catalysts in various manufacturing industries. The market is on track to continue this positive trend, aiming for $362.2 million by 2031, with an anticipated CAGR of 4.00%. This upward trajectory offers ample opportunities for industry players.

Market Overview

The cerium market is on a steady growth path, fueled by its extensive use in multiple applications. Cerium, a versatile rare earth element, is widely utilized in catalysts, self-cleaning ovens, lighters, coloring glass and ceramics, and as a polishing agent. This broad spectrum of uses is a significant factor in the market's expansion.

Increasing Demand for Catalysts

A key driver of the cerium market is the escalating demand for catalysts. Cerium-based catalysts are crucial in various manufacturing processes, and their usage is expected to rise substantially over the next decade. This growing demand is projected to maintain a strong growth rate for the cerium market.

Regional Market Insights

East Asia: Leading the Charge

East Asia, especially Japan and China, is at the forefront of the global cerium market. The electronics industry in this region plays a pivotal role in driving cerium demand. The increasing application of cerium in electronics is propelling market growth, establishing East Asia as a dominant force in the global market.

North America: New Growth Prospects

The North American cerium market is also showing promising growth potential. Efforts to reduce reliance on China and the adoption of advanced manufacturing techniques are key factors driving the market's expansion. Enhanced exploration and investment initiatives in the region are expected to further support market growth.

Europe: A Steady Market

Europe is expected to maintain stable demand for cerium. The region's consistent growth can be attributed to the diverse applications of cerium across various industries. Despite market fluctuations, Europe remains a significant player in the global cerium market.

Rest of the World: Moderate Demand

The rest of the world is predicted to show moderate demand for cerium. However, ongoing exploration and recycling initiatives in different regions could offer new growth opportunities for market participants.

Challenges and Restraints

Price Volatility

A major challenge for the cerium market is the frequent fluctuation in cerium prices. These price variations can influence overall market dynamics and limit growth opportunities. The global market's heavy dependence on China is another potential constraint in the coming years.

Dependence on China

The global cerium market's significant reliance on China for supply is a notable challenge. Any disruptions in the supply chain from China could have widespread impacts on the global market. Diversifying supply sources and exploring local reserves could mitigate this risk and ensure a stable cerium supply.

Market Opportunities

Expanding Applications of Cerium

The diverse applications of cerium are generating numerous growth opportunities. From self-cleaning ovens and lighter flints to glass and ceramics coloring, cerium's versatility is boosting its demand. Additionally, the exploration of untapped reserves and recycling cerium from e-waste are expected to further drive market growth.

Exploration and Investments

Ongoing exploration and investment in cerium reserves are essential for sustaining market growth. Recent industry developments, such as the U.S. Department of Energy's funding initiatives, are expected to enhance local supply chains for rare earth elements. These investments are crucial for securing cerium supplies and supporting market expansion.

Key Market Players

Leading players in the cerium market include Avalon Rare Metals Inc., China Minmetals Rare Earth Co. Ltd., Baotou Hefa Rare Earth Co. Ltd., and Lynas Corporation Ltd. These companies are at the forefront of the market, driving innovation and growth through strategic initiatives.

Cerium Industry Research by Category

By Application:

Glass
Catalysts
Alloys
Others

By Region:

North America
Europe
Latin America
East Asia
The Middle East & Africa
South Asia & Pacific

1. Executive Summary

1.1. Global Cerium Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Price Analysis, 2019-2023

3.1. Global Average Price Analysis, by Product, US$ Per Unit, 2019-2023
3.2. Prominent Factor Affecting Cerium Prices
3.3. Global Average Price Analysis, by Region, US$ Per Unit

4. Global Cerium Market Outlook, 2019-2031

4.1. Global Cerium Market Outlook, by Application, Value (US$ Mn), Volume (Units), 2019-2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Glass
  - 4.1.1.2. Catalysts
  - 4.1.1.3. Alloys
  - 4.1.1.4. Others
4.2. Global Cerium Market Outlook, by Region, Value (US$ Mn), Volume (Units), 2019-2031
- 4.2.1. Key Highlights
  - 4.2.1.1. North America
  - 4.2.1.2. Europe
  - 4.2.1.3. Asia Pacific
  - 4.2.1.4. Latin America
  - 4.2.1.5. Middle East & Africa

5. North America Cerium Market Outlook, 2019-2031

5.1. North America Cerium Market Outlook, by Application, Value (US$ Mn), Volume (Units), 2019-2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Glass
  - 5.1.1.2. Catalysts
  - 5.1.1.3. Alloys
  - 5.1.1.4. Others
- 5.1.2. BPS Analysis/Market Attractiveness Analysis
5.2. North America Cerium Market Outlook, by Country, Value (US$ Mn), Volume (Units), 2019-2031
- 5.2.1. Key Highlights
  - 5.2.1.1. U.S. Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 5.2.1.2. Canada Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
- 5.2.2. BPS Analysis/Market Attractiveness Analysis

6. Europe Cerium Market Outlook, 2019-2031

6.1. Europe Cerium Market Outlook, by Application, Value (US$ Mn), Volume (Units), 2019-2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Glass
  - 6.1.1.2. Catalysts
  - 6.1.1.3. Alloys
  - 6.1.1.4. Others
- 6.1.2. BPS Analysis/Market Attractiveness Analysis
6.2. Europe Cerium Market Outlook, by Country, Value (US$ Mn), Volume (Units), 2019-2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Germany Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 6.2.1.2. U.K. Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 6.2.1.3. France Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 6.2.1.4. Italy Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 6.2.1.5. Turkey Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 6.2.1.6. Russia Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 6.2.1.7. Rest of Europe Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
- 6.2.2. BPS Analysis/Market Attractiveness Analysis

7. Asia Pacific Cerium Market Outlook, 2019-2031

7.1. Asia Pacific Cerium Market Outlook, by Application, Value (US$ Mn), Volume (Units), 2019-2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Glass
  - 7.1.1.2. Catalysts
  - 7.1.1.3. Alloys
  - 7.1.1.4. Others
- 7.1.2. BPS Analysis/Market Attractiveness Analysis
7.2. Asia Pacific Cerium Market Outlook, by Country, Value (US$ Mn), Volume (Units), 2019-2031
- 7.2.1. Key Highlights
  - 7.2.1.1. China Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 7.2.1.2. Japan Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 7.2.1.3. South Korea Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 7.2.1.4. India Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 7.2.1.5. Southeast Asia Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 7.2.1.6. Rest of Asia Pacific Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
- 7.2.2. BPS Analysis/Market Attractiveness Analysis

8. Latin America Cerium Market Outlook, 2019-2031

8.1. Latin America Cerium Market Outlook, by Application, Value (US$ Mn), Volume (Units), 2019-2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Glass
  - 8.1.1.2. Catalysts
  - 8.1.1.3. Alloys
  - 8.1.1.4. Others
- 8.1.2. BPS Analysis/Market Attractiveness Analysis
8.2. Latin America Cerium Market Outlook, by Country, Value (US$ Mn), Volume (Units), 2019-2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Brazil Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 8.2.1.2. Mexico Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 8.2.1.3. Argentina Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 8.2.1.4. Rest of Latin America Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
- 8.2.2. BPS Analysis/Market Attractiveness Analysis

9. Middle East & Africa Cerium Market Outlook, 2019-2031

9.1. Middle East & Africa Cerium Market Outlook, by Application, Value (US$ Mn), Volume (Units), 2019-2031
- 9.1.1. Key Highlights
  - 9.1.1.1. Glass
  - 9.1.1.2. Catalysts
  - 9.1.1.3. Alloys
  - 9.1.1.4. Others
- 9.1.2. BPS Analysis/Market Attractiveness Analysis
9.2. Middle East & Africa Cerium Market Outlook, by Country, Value (US$ Mn), Volume (Units), 2019-2031
- 9.2.1. Key Highlights
  - 9.2.1.1. GCC Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 9.2.1.2. South Africa Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 9.2.1.3. Egypt Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 9.2.1.4. Nigeria Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
  - 9.2.1.5. Rest of Middle East & Africa Cerium Market by Application, Value (US$ Mn), Volume (Units), 2019-2031
- 9.2.2. BPS Analysis/Market Attractiveness Analysis

10. Competitive Landscape

10.1. Company Market Share Analysis, 2024
10.2. Competitive Dashboard
10.3. Company Profiles
- 10.3.1. Avalon Rare Metals Inc.
  - 10.3.1.1. Company Overview
  - 10.3.1.2. Therapy Portfolio
  - 10.3.1.3. Financial Overview
  - 10.3.1.4. Business Strategies and Development
- 10.3.2. China Minmetals Rare Earth Co. Ltd.
  - 10.3.2.1. Company Overview
  - 10.3.2.2. Therapy Portfolio
  - 10.3.2.3. Financial Overview
  - 10.3.2.4. Business Strategies and Development
- 10.3.3. Baotou Hefa Rare Earth Co. Ltd.
  - 10.3.3.1. Company Overview
  - 10.3.3.2. Therapy Portfolio
  - 10.3.3.3. Financial Overview
  - 10.3.3.4. Business Strategies and Development
- 10.3.4. Lynas Corporation Ltd.
  - 10.3.4.1. Company Overview
  - 10.3.4.2. Therapy Portfolio
  - 10.3.4.3. Financial Overview
  - 10.3.4.4. Business Strategies and Development
- 10.3.5. Others
  - 10.3.5.1. Company Overview
  - 10.3.5.2. Therapy Portfolio
  - 10.3.5.3. Financial Overview
  - 10.3.5.4. Business Strategies and Development