Cerium Market Business Opportunities and Future Scope Till 2028
Cerium Industry Overview The global cerium market size was valued at USD 253.4 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.8% from 2021 to 2028. The cerium market is projected to witness moderate growth, as demand for rare earth elements has been witnessing a positive trend in end-use industries. Cerium is the most abundant rare earth element found on the earth. It is soft and ductile with silvery-white color. It is a member of the lanthanide series and was first discovered in 1803. Cerium and other lanthanide members naturally occur in an array of minerals such as phosphates (e.g., Monazite), carbonates (e.g., bastnaesite), silicates, cerite, and oxides. However, monazite and bastnaesite are the most common mineral resources for commercial applications. Gather more insights about the market drivers, restrains and growth of the Global Cerium Market Initiatives by the U.S. government to expand the local rare earth elements industry is proje...