Cerium Market to Reflect a Holistic Expansion During 2015 - 2021
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The market for cerium was mainly driven by the growing demand for rare earth metal catalysts from various manufacturing sectors. In addition, there is huge demand for cerium in China and other Asian countries. Cerium is used in various applications such as polishing powder, adding colors in ceramics and glass, flints in lighters and in self-cleaning ovens. More exploration of unmined reserves and recycling of cerium metal from e-waste can provide opportunities for the market. However, the fluctuating prices in the market are likely to act as restraint in near future. Furthermore, over dependency of global cerium market on China can act as a major restraint to the market.
In terms of demand, Asia Pacific is the leading region for cerium market. The demand for cerium is significant from China and Japan. Growing demand from electronics sector in this region is likely to be one of the major drivers for the cerium market. North America market is likely to grow in near future owing to various manufacturing techniques and decreasing dependency on China for the cerium. Increasing demand in North America has lead to increased number of explorations and investments in this region. Europe is likely to be stable market for cerium and will follow similar trend in near future. The Rest of the World market is anticipated to have average demand for cerium in near future.
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Some of the key providers in the cerium market 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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