Ceric Ammonium Nitrate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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 is a water-soluble, inorganic compound prepared by electrolytic oxidation of cerous nitrate in nitric acid followed by treatment with ammonium nitrate solution. It acts as a catalyst in the polymerization of olefins and is used in the organic oxidation reaction of electrophilic radicals to alkenes, secondary alcohols into ketones, and benzylic alcohols into aldehydes. It is also utilized in the production of chrome etchant, which is a vital component of electronic items.

Ceric Ammonium Nitrate Market Trends:
Ceric ammonium nitrate presently finds application as a vital feedstock in different end use industries worldwide. This represents one of the key factors impelling the market growth. Apart from this, the expanding usage of oxo-alcohols in the manufacturing of polyvinyl chloride (PVC) products, printing inks, paints, coatings, adhesives, lubricants, diesel additives, and drugs is contributing to the market growth. Moreover, catalytic amounts of aqueous ceric ammonium nitrate are used in tap water to synthesize various quinoxaline derivates efficiently. In addition, as the synthesis of quinoxaline derivates has many disadvantages, ceric ammonium nitrate is gaining traction as an inexpensive and non-toxic solution around the world. Besides this, the escalating demand for LCDs in portable electronic games, digital cameras and camcorders, video projection systems, electronic billboards, computers, and flat-panel televisions (TVs) is creating a favorable outlook for the market. Furthermore, the growing popularity of smart homes and miniature electronics is driving the utilization of photomasks, which, in turn, is catalyzing the demand for ceric ammonium nitrate across the globe. The leading market players are also developing high-grade, reliable products that can be used to produce ceramics, glass, pharma items, pigments, textiles, paper, and specialty and fine chemicals, which is projected to influence the market positively.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global ceric ammonium nitrate market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.

Breakup by Type:

Neutralization Method
Conversion Method

Breakup by Application:

Laboratory Chemicals
Photomasks
Liquids Crystal Displays
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Absco Limited, Blue Line Corporation, Merck KGaA, Otto Chemie Pvt. Ltd., Oxford Lab Fine Chem LLP, Santa Cruz Biotechnology Inc., Suvchem, TCI Chemicals (India) Private Limited, Thomas Scientific (The Carlyle Group), Toronto Research Chemicals Inc. and Uranus Chemicals Co. Ltd.

Key Questions Answered in This Report
1. What was the size of the global ceric ammonium nitrate market in 2022?
2. What is the expected growth rate of the global ceric ammonium nitrate market during 2023-2028?
3. What are the key factors driving the global ceric ammonium nitrate market?
4. What has been the impact of COVID-19 on the global ceric ammonium nitrate market?
5. What is the breakup of the global ceric ammonium nitrate market based on the application?
6. What are the key regions in the global ceric ammonium nitrate market?
7. Who are the key players/companies in the global ceric ammonium nitrate market?