Report ID: UCMIG15J2048
Report ID:
UCMIG15J2048 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
In 2020, the global cerium market reached a significant valuation of USD 253.4 million. Over the forecast period from 2021 to 2028, it is projected to exhibit a steady compound annual growth rate (CAGR) of 3.8%. Cerium, a rare earth element, finds diverse applications in various industries, including automotive, electronics, and energy. The anticipated growth is primarily attributed to the rising demand for cerium-based catalysts and additives in automotive emission control systems, as well as the increasing adoption of cerium compounds in the electronics sector. Factors such as expanding industrialization and technological advancements are likely to contribute to the market's upward trajectory during the forecast period.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Diversified Metals & Mining by segment aggregation, the contribution of the Diversified Metals & Mining in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG15J2048