| Study Period | 2019 - 2030 |
| Market Volume (2025) | 75.91 kilotons |
| Market Volume (2030) | 92.14 kilotons |
| CAGR | 3.95 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Cerium Market Analysis
The Cerium Market size is estimated at 75.91 kilotons in 2025, and is expected to reach 92.14 kilotons by 2030, at a CAGR of 3.95% during the forecast period (2025-2030).
The COVID-19 led to temporary shutdowns of mining and manufacturing facilities, causing disruptions in the supply of cerium and other rare earth elements. However, as lockdowns eased and restrictions were lifted, mining and production activities resumed, stabilizing the supply of cerium and other rare earth elements.
- The growing demand for glass polishing and the expansion of catalytic converter applications are driving the cerium market. These factors are expected to continue influencing market growth positively during the forecast period.
- However, the cerium market faces a significant challenge due to the fluctuating prices of rare earth elements, which could hinder its growth trajectory.
- On the other hand, the expansion of automotive emission control systems and advancements in electronics present lucrative opportunities for the cerium market, fostering potential growth in the coming years.
- The Asia-Pacific region, particularly China, dominates the cerium market, benefiting from its strong production capabilities and increasing demand across various applications.
Cerium Market Trends
Glass and Ceramic Segmnet to Dominate the Market
- The global cerium oxide market is witnessing significant growth, driven by its extensive applications in the glass and ceramics segment. Cerium oxide's unique physio-chemical properties make it indispensable in various industrial processes, particularly in glass polishing powders.
- Due to its critical role, cerium oxide is widely used for polishing liquid crystal displays, glass panels, precision lenses, silicon wafers, and magnetic memory disks. This high demand for cerium-based polishing powders highlights the dominance of the glass and ceramics segment in the market.
- The increasing use of cerium in industrial glass applications, such as optical lenses, mirrors, and other precision glass products, further boosts its demand in this segment.
- Mitsui Chemicals announced plans to boost production capacity for its MR series of high refractive-index lens material. The company plans to complement its existing MR plant at Omuta Works with a new plant that is slated to begin commercial operation in the first half of 2028. This is fueled by an expanding demand for higher optical clarity.
- Another critical application of cerium is in photovoltaic (PV) glass. Cerium is added to PV glass to absorb ultraviolet (UV) radiation, protecting photovoltaic cells and encapsulant materials from UV-induced degradation. This process extends the lifespan of PV modules, making cerium a vital component in the renewable energy sector.
- In line with this, Vitro Architectural Glass is set to produce glass for First Solar’s advanced thin-film photovoltaic (PV) solar panels. The company plans to invest USD 93.6 million to rebuild and modernize a production line at its Meadville plant in Pennsylvania, enabling offline production capabilities. Production is expected to commence in the second quarter of 2025.
- In conclusion, the growing applications of cerium oxide across diverse industries, including glass, semiconductors, and renewable energy, are driving its demand. The market's expansion is further supported by investments in advanced production capabilities, ensuring a robust growth trajectory for the cerium oxide market in the coming years.
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Asia-Pacific Region to Dominate the Market
- China's dominance in cerium production significantly impacts the global market, driven by its abundant reserves of rare earth elements and government support. This analysis explores the factors contributing to China's leadership, its strategic initiatives, and the diverse applications of cerium across industries.
- The Chinese government provides strong support and incentives for the production and export of rare earth elements, including cerium, solidifying its position in the global market.
- Under its 14th five-year plan, China has set provincial-specific solar PV installation targets across 26 provinces, aiming to install 443 GW of new capacity by the end of 2025. This aligns with the broader goal of reducing environmental impact and promoting cleaner energy sources, further emphasizing China's strategic focus on sustainability.
- India is also making strides in renewable energy, with the Production Linked Incentive (PLI) scheme driving domestic solar photovoltaic (PV) module manufacturing.
- This initiative aims to reduce import reliance and achieve gigawatt-scale production. Tranche I added 8,737 MW, while Tranche II allocates 39,600 MW across 11 companies with a phased investment of USD 1,686.2 million until 2026. Expected to attract USD 11.2 billion, this scheme strengthens the domestic solar PV ecosystem.
- Cerium plays a critical role in advancing solar technology. Specifically, cerium oxide (CeO₂) serves as a passivation layer in perovskite solar cells, enhancing their performance and stability. This aligns with the PLI scheme’s goal of fostering high-efficiency solar technologies.
- Beyond renewable energy, cerium's applications extend to other industries. Its magnetic properties are utilized in the development of permanent magnets, which are essential for electronic devices like hard disk drives, electric motors, and generators.
- In the float glass industry, cerium is valued for its ability to absorb ultraviolet (UV) light and improve the glass's resistance to solarization, preventing discoloration caused by UV exposure.
- India's flat glass industry, with a total size of 110 thousand tons per month, highlights the demand for such applications.
- In conclusion, cerium's diverse applications, ranging from renewable energy to technological innovation, underscore its importance across industries. As global demand for cerium continues to grow, China's leadership in production and strategic initiatives ensures its pivotal role in shaping the market.
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Cerium Industry Overview
The cerium market is partially consolidated in nature. The major players in the market (not in any particular order) include American Elements, Lynas Rare Earths Ltd, MITSUI MINING & SMELTING CO., LTD., Shepherd Chemical, and Sichuan Wonaixi New Material Technology Co., Ltd., among others.
Cerium Market Leaders
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American Elements
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Lynas Rare Earths Ltd
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MITSUI MINING & SMELTING CO.,LTD.
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Shepherd Chemical
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Sichuan Wonaixi New Material Technology Co., Ltd.
- *Disclaimer: Major Players sorted in no particular order
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Cerium Market News
- February 2025: The Department of Industry and Information Technology of Inner Mongolia Autonomous Region granted approval to Baotou Xinpu Rare Earth New Material Co., Ltd. for a project producing 6,000 tons per annum of rare earth metals and alloys, which encompasses 2,500 tons per annum of cerium metal.
- December 2024: China Northern Rare Earth, in collaboration with its associate, Fujian Jinlong Rare Earth Co., Ltd., unveiled plans to invest CNY 153 million (~USD 21.07 million). This investment aims to jointly establish Northern Jinlong (Baotou) Rare Earth Co., Ltd. and set up a production line capable of separating 5,000 metric tons of rare earth oxides.
Cerium Industry Segmentation
Cerium is a chemical element with the symbol Ce and atomic number 58. It is a soft, silvery-white metal that belongs to the lanthanide series of the periodic table, commonly known as rare earth elements.
The cerium market is segmented by type, application, end-use industry, and geography. By type, the market is segmented on the basis of cerium oxide, cerium metal, cerium fluoride, cerium nitrate, and others (cerium hydrate, cerium compounds). By application, the market is segmented into glass polishing, catalysts, alloys, and others (energy storage). By end-use industry, the market is segmented into automotive and transportation, chemical and pharmaceutical, electronics, glass and ceramics, and others (energy storage and renewable energy). The report also covers the market size and forecasts for the market in 27 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (tons).
| Type | Cerium Oxide | ||
| Cerium Metal | |||
| Cerium Fluoride | |||
| Cerium Nitrate | |||
| Others | |||
| Application | IR Optics | ||
| Glass Polishing | |||
| Catalysts | |||
| Alloys | |||
| Others | |||
| End-Use Industry | Automotive and Transportation | ||
| Chemical and Pharmaceutical | |||
| Electronics | |||
| Glass and Ceramics | |||
| Others | |||
| Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| Malaysia | |||
| Indonesia | |||
| Thailand | |||
| Vietnam | |||
| Rest of Asia-Pacific | |||
| North America | United States | ||
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| Italy | |||
| France | |||
| Spain | |||
| NORDIC Countries | |||
| Turkey | |||
| Russia | |||
| Rest of Europe | |||
| South America | Brazil | ||
| Argentina | |||
| Colombia | |||
| Rest of South America | |||
| Middle-East and Africa | Saudi Arabia | ||
| Qatar | |||
| United Arab Emirates | |||
| Nigeria | |||
| Egypt | |||
| South Africa | |||
| Rest of Middle-East and Africa | |||
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Cerium Market Research FAQs
How big is the Cerium Market?
The Cerium Market size is expected to reach 75.91 kilotons in 2025 and grow at a CAGR of 3.95% to reach 92.14 kilotons by 2030.
What is the current Cerium Market size?
In 2025, the Cerium Market size is expected to reach 75.91 kilotons.
Who are the key players in Cerium Market?
American Elements, Lynas Rare Earths Ltd, MITSUI MINING & SMELTING CO.,LTD., Shepherd Chemical and Sichuan Wonaixi New Material Technology Co., Ltd. are the major companies operating in the Cerium Market.
Which is the fastest growing region in Cerium Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Cerium Market?
In 2025, the Asia Pacific accounts for the largest market share in Cerium Market.
What years does this Cerium Market cover, and what was the market size in 2024?
In 2024, the Cerium Market size was estimated at 72.91 kilotons. The report covers the Cerium Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Cerium Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Cerium Industry Report
Statistics for the 2025 Cerium market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cerium analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
