Cerium Market 2017: By Application, Manufacturer, and Segmentation 2025
Considered a rare earth metal, cerium is silvery-white, ductile, and soft. It tarnishes when exposed to air and is soft enough to be cut with knife. Easily extracted from its ores, cerium is usually found in combination with other rare earth metals such as bastnaesite and monazite. Cerium also possesses unique stable state that does not oxidize with water. It is considered one of the most common lanthanides, followed by neodymium, praseodymium, and lanthanum. Cerium is available in abundance; it makes up to 66ppm of the earth’s crust.
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It is the 26th most abundant metal with abundance five times as much as lead and half as much as chlorine. Cerium was first discovered in 1803 in Sweden. It has been used in a variety of applications since then. Along with its compound, cerium is employed in numerous applications, including polishing glass and ferro-cerium lighters, owing to its pyrophoric properties. Cerium has no known biological roles. It has low toxicity level. It exhibits properties that are similar to that of calcium and gets accumulated in human body. Cerium is also found in plants (tobacco and barley) in small quantities.
Based on application, the market for cerium can be segmented into catalysts, ceramics, permanent magnets, glass polishing, glass additives, metal alloys, and others. The market for cerium is anticipated to witness strong growth during the forecast period owing to the increase in demand for rare earth metals in various end-user industries. Rise in exploration activities across the globe to extract cerium offers potential growth opportunities to the market. Recycling of cerium from electronic waste is expected to provide ample supply of this metal for reuse in various end-use industries including electrical and electronics and construction.
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In terms of application, glass polishing held significant share of the global cerium market in 2016. The segment is anticipated to witness strong growth during the forecast period. In polishing application, cerium has replaced other metals in the production of high-quality optical surfaces. It is also used to increase the photo stability of pigments and enhance the properties of polymers. Cerium prevents darkening of clear polymers from sunlight. The glass polishing segment was followed by the catalysts segment in 2016.
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