According to the latest report by IMARC Group, titled, “Ceric Ammonium Nitrate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global ceric ammonium nitrate market size reached US$ 173.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 247.6 Million by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.
Ceric ammonium nitrate ((NH4)2Ce(NO3)6) is an orange-red, water-soluble, and eco-friendly salt used as an efficient and reusable catalyst in designing a green protocol. It is utilized in column chromatographic purification to separate mixtures of various substances in laboratories. It offers several benefits in synthetic transformations of chemicals, such as solubility in organic solvents, low toxicity, high reactivity, and ease of handling. It assists in facilitating the high-yield esterification of carboxylic acids, steroids, and other multifunctional natural products. It is used as an oxidizing agent in surface methodology to identify the optimal conditions for the removal of trihalomethanes (THMs) and natural organic matter (NOM) from drinking water supplies. It aids in precise and clean etching during the production of chrome photomasks and plates. It is employed for manufacturing liquid crystal displays (LCDs) in smartphones, televisions (TVs), computer monitors, and instrument panels. As a result, (NH4)2Ce(NO3)6 finds extensive applications in pharmaceutical, information and technology (IT), electronics, and agrochemical industries across the globe.
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Ceric Ammonium Nitrate Market Trends and Drivers:
At present, the rising demand for oxo-alcohols in the manufacturing of polyvinyl chloride (PVC), coatings, lubricants, printing inks, and diesel additives represents one of the key factors driving the market. Besides this, the increasing demand for eco-friendly catalysts due to their non-toxic solution, along with the growing environmental consciousness among the masses, is positively influencing the market. In addition, the growing popularity of smart homes and miniature electronics across the globe is catalyzing the demand for (NH4)2Ce(NO3)6. In line with this, there is a rise in the employment of (NH4)2Ce(NO3)6 in electronic medical devices, such as pacemakers, defibrillators, drug-releasing pumps, hearing aids, and diagnostic equipment for measuring, monitoring, and recording heartbeats and brain waves. This, along with the thriving chemical industry, is strengthening the growth of the market. Additionally, the wide availability of (NH4)2Ce(NO3)6 through online and offline distribution channels is contributing to the growth of the market. Moreover, (NH4)2Ce(NO3)6 is used for a wide range of reactions, such as oxidation, synthesis of heterocycles, generation of carbon-carbon bonds, cleavage of Si-O bonds, and C-halogen bond formation in chemical research institutes. Other growth-inducing factors are increasing research and development activities, easy availability of raw materials, and various investment funding by governments of several countries to promote the industrial sector. Furthermore, the increasing use of (NH4)2Ce(NO3)6 in the production of digital cameras and camcorders, video projection systems, electronic billboards, and computers around the world is projected to bolster the growth of the market.
Ceric Ammonium Nitrate Market 2023-2028 Competitive Analysis and Segmentation:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Absco Limited
- Blue Line Corporation
- Merck KGaA
- Otto Chemie Pvt. Ltd.
- Oxford Lab Fine Chem LLP
- Santa Cruz Biotechnology Inc.
- TCI Chemicals (India) Private Limited
- Thomas Scientific (The Carlyle Group)
- Toronto Research Chemicals Inc
- Uranus Chemicals Co. Ltd.
The report has segmented the market based on type, product and application.
Breakup by Type:
- Neutralization Method
- Conversion Method
Breakup by Product:
Breakup by Application:
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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