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Cerium Market

Market Study on Cerium: Electronics Industry in East Asia to Account for High Demand

Cerium Market Segmented By Glass, Catalysts, Alloys Application in North America, Europe, Latin America, East Asia, The Middle East & Africa, South Asia & Pacific

Cerium Market Outlook (2022-2032)

The global cerium market is likely to increase from a valuation of US$ 255 Mn in 2022 to US$ 375 Mn by the end of 2032, with the market expanding at a steady CAGR of 3.9% through 2032.

The use of cerium in catalysts is projected to increase at a similar rate (3.8%) CAGR over the next ten years.

Cerium Market Size (2022E)

US$ 255 Mn

Projected Sales of Cerium (2032F)

US$ 375 Mn

Global Market Growth Rate (2022-2032)

3.9% CAGR

Growth Rate of Catalysts in Market (2021A)

3.8% CAGR

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How is the Cerium Market Evolving?

“Rising Demand for Rare Earth Metal Catalysts from Manufacturing Sectors”

The sales opportunities in the cerium market are mainly driven by the increasing demand for rare earth metal catalysts from different manufacturing sectors. China and some other Asian countries will account for high demand opportunities in the industry over the coming years.

“Increased Use of Cerium for Different Applications”

Cerium is used for different applications; for instance, in self-cleaning ovens and flints in lighters. In addition, cerium is also used to add colors to glass and ceramics and as a polishing powder. Further, increased exploration of unmined reserves as well as recycling of cerium metal from e-waste is predicted to create growth opportunities for players in the market.

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What’s Restricting Growth Avenues in the Cerium Market?

“Constant Fluctuation in Cerium Prices”

There is a constant fluctuation in the prices of cerium, which is likely to restrict the sales opportunities in the market. The high dependency of the global market on China is also likely to act as a major market restraint over the coming years.

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Key Market Players

Some of the key suppliers of cerium are Avalon Rare Metals Inc., China Minmetals Rare Earth Co. Ltd., Baotou Hefa Rare Earth Co. Ltd., and Lynas Corporation Ltd., among others.

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Which Region Dominates the Global Cerium Market?

“High Demand from Electronics Industry in East Asia”

Out of all the regional areas, East Asia is likely to hold a leading position in the global cerium market. Japan and China are key contributors fueling the demand for cerium in the market. The electronics sector, owing to increased demand for cerium, is playing a vital role in stimulating expansion avenues across the industry.

The North America market is also predicted to grow at a significant rate over the coming years. The rapid growth of the regional market is attributed to decreasing dependency on China and the use of many manufacturing techniques for cerium. Growing demand for industry products in the North American region is likely to result in an increased count of explorations and investments.

Europe is anticipated to serve as a stable market for cerium over the decade. Lastly, the rest of the world is estimated to exhibit average demand for cerium through 2032.

Recent Industry Development

  • The U.S. Department of Energy, in March 2021, announced US$ 30 Mn in funds to explore rare earth metals. The fund is predicted to provide assistance to research and secure the local supply chains for the available rare earth and some other vital elements that are used in industrial and battery applications. The states of Wyoming, Texas, and California are predicted to remain attraction points for the exploration of many rare earth elements.

Product Overview

Cerium is a very soft and ductile metal that oxidizes very easily in the air. The metallic cerium is manufactured using a metallothermic process which in turn gives cerium of higher purity. Cerium is used as catalysts and adhesives in numerous commercial applications. Cerium exhibits properties similar to that of calcium and accumulates in the bones in small amounts. Cerium can be found in small amounts in barley and tobacco plants.

Cerium Industry Report Scope

Attribute

Details

Forecast period

2022-2032

Historical data available for

2017-2021

Market analysis

USD million for Value

Key regions covered

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

Key countries covered

  • U.S.
  • Canada
  • the UK
  • Germany
  • France
  • Spain
  • Mexico
  • Italy
  • Japan
  • China
  • India
  • New Zealand
  • Malaysia
  • Australia
  • Thailand
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

Key market segments covered

  • Application
  • Region

Key companies profiled

  • Avalon Rare Metals Inc.
  • China Minmetals Rare Earth Co. Ltd.
  • Baotou Hefa Rare Earth Co. Ltd.
  • Lynas Corporation Ltd.

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & pricing

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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

- Companies Covered in This Report -

  • Avalon Rare Metals Inc.
  • China Minmetals Rare Earth Co. Ltd.
  • Baotou Hefa Rare Earth Co. Ltd.
  • Lynas Corporation Ltd.

- Frequently Asked Questions -

The global cerium market is anticipated to expand at a CAGR of 3.9% through 2032.

The current valuation of the cerium industry is US$ 255 Mn.

The cerium market is likely to reach a valuation of US$ 375 Mn by 2032.

Catalysts account for a major market share and cerium in them is set to increase at a CAGR of 3.8% through 2032.

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