Ceric Ammonium Nitrate Market To Reach $274.0 Million By 2030

Ceric Ammonium Nitrate Market Growth & Trends

The global ceric ammonium nitrate market size is expected to reach USD 274.0 million by 2030, registering a CAGR of 7.8% 2024 to 2030, according to a new report by Grand View Research, Inc. Global ceric ammonium nitrate market is still at its developing stage and is expected to witness significant growth in research labs, educational institutions and medical applications. Increasing healthcare expenditure coupled with growth of electronics industry particularly in emerging markets of Asia Pacific and Latin America is expected to drive its demand over the forecast period. 

Stringent regulations particularly in the U.S. and Europe are expected to remain a key challenge for industry participants. Ceric ammonium nitrate (CAN) is considered as an oxidizing agent and irritant under Dangerous Substances Directive (67/548/EEC) by the European Union. 

Laboratories were the leading application segment with demand share exceeding 70% in 2014. Increasing initiatives by research laboratories and educational institutions to expand application base owing to favorable prices coupled with flexible nature is expected to drive this segment over the forecast period. CAN is used for wide range of organic reactions including oxidation, synthesis of heterocycles, generation of carbon (heteroatom bonds), generation of carbon-carbon bonds, cleavage of carbon (heteroatom bonds), cleavage of Si-O bonds, C-halogen bond formation, and CAN-catalyzed multi-components. 

The product is also used in electronic and medical industries. The product is used for etchants preparation which is further utilized in photomasks and liquid crystal displays. 

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Ceric Ammonium Nitrate Market Report Highlights

• The global ceric ammonium nitrate market size was valued at USD 162.0 million in 2023 and is projected to grow at a CAGR of 7.8% from 2024 to 2030

• Laboratories dominated the market and accounted for the largest revenue share of 70.6% in 2023, and Liquid crystal display application use is expected to grow at a CAGR of 7.2% over the forecast period.

• The North America ceric ammonium nitrate market dominated the global market and accounted for the largest revenue share of 49.4% in 2023 owing to the increasing demand from the electronics and automotive industries for high-quality materials anticipated to fuel the market

Ceric Ammonium Nitrate Market Segmentation

Grand View Research has segmented the global ceric ammonium nitrate market report based on application and region:

Ceric Ammonium Nitrate Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Laboratories

• Photomasks

• Liquid crystal displays

• Other

Ceric Ammonium Nitrate Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

List of Key Players of Ceric Ammonium Nitrate Market

• URANUS CHEMICALS CO., LTD

• GFS Chemical, Inc.

• Dow

• Ganzhou Wanfeng Advanced Materials Tech. Co., Ltd.

• Chuanyan Technology Co., Ltd.

• Merck KGaA

• Treibacher Industrie AG

• American Elements.

• ProChem Inc.

• Blue Line Corporation.