- Summary
- Table Of Content
- Methodology
Ceric Ammonium Nitrate Market Size:
The ceric ammonium nitrate market size is growing with a CAGR of 5.2% during the forecast period (2025-2032), and the market is projected to be valued at USD 399.87 Million by 2032 from USD 266.78 Million in 2024. Additionally, the market value for the 2025 attributes to USD 279.80 Million.
Ceric Ammonium Nitrate Market Scope & Overview:
Ceric ammonium nitrate (CAN) is an inorganic compound with the chemical formula (NH₄)₂Ce(NO₃)₆. It is an orange-red crystalline solid with high solubility, oxidizing property, and thermal stability. It is available in low purity (<98%) and high purity (>98%). This compound is used as oxidizing agent and catalysts in various applications such as organic synthesis, photomasks, liquid crystal displays, vehicle exhaust, and others. It is also used in industries such as electronics, chemical, pharmaceutical, automotive, and others for controlled polymerization and nitration reactions. Additionally, the expanding electronics sector due to urbanization is driving the use of CAN, further boosting the market.
Ceric Ammonium Nitrate Market Dynamics - (DRO) :
Key Drivers:
Growing Demand from Electronics Sector is Driving Ceric Ammonium Nitrate Market Growth
The ceric ammonium nitrate is used in the electronics sector for etching process of printed circuit boards. It is also used in the production of liquid crystal displays for surface treatment processes. The electronics production is growing supported by increasing use of digital technologies, government support, and technological advancements further driving the market.
- According to Government of India, electronics production in India is increased by 50% in 2023 from 2017. This growing electronics production is driving the use of ceric ammonium nitrate for the surface treatment processes in liquid crystal displays.
Hence, growing demand from electronics sector is leading to ceric ammonium nitrate market growth.
Rising Adoption in Automotive Sector is Creating Ceric Ammonium Nitrate Market Demand
The ceric ammonium nitrate is used in the automotive sector for high precision sensors in brakes. It is also used in etching process for printed circuit boards in electric buses. The adoption of electric buses are growing supported by reduced carbon emissions and growing emphasis on sustainability goals further driving the market.
- According to European Automobile Manufacturers Association, electric bus sales is increased by 39.1% in Europe in 2023 as compared to the year 2022. This growing preference for electric bus is driving the use of ceric ammonium nitrate for printed circuit boards.
Hence, rising adoption in the automotive sector is leading to ceric ammonium nitrate market expansion.
Key Restraints:
Growing Commercialization of Alternatives is Constraining Ceric Ammonium Nitrate Market Demand
The commercialization of alternative oxidizing agents such as potassium permanganate, nitric acid, and hydrogen peroxide is growing. They provide similar functions as that of ceric ammonium nitrate. The potassium permanganate is used in organic synthesis, etching and surface treatment process due to its lower production costs and greater availability. Further, the use of hydrogen peroxide is growing due to less hazardous nature, further reducing dependence on CAN. Additionally, green chemistry initiatives are promoting the adoption of biodegradable and non-toxic oxidizers such as ozone. Hence, growing commercialization of alternatives is constraining the market growth due to low production cost, greater availability, and less toxicity.
Future Opportunities :
Expanding Chemical Sector is expected to Create Ceric Ammonium Nitrate Market Opportunities
In the chemical sector, ceric ammonium nitrate is widely used as a catalyst in polymerization reactions. It is also used as a mild and selective oxidizing agent in the oxidation of alcohols to carbonyl compounds. The investments in chemical sector is growing due to high margins, rising demand for specialty, chemicals, and innovation in production technologies.
- According to American Chemistry Council, the investment in chemical sector is expected to increase with a compound annual growth rate of 3.74% by 2027 from 2022. This will create opportunities for the market due to growing use in the catalysis of polymerization reactions.
Thus, expanding chemical sector is expected to create ceric ammonium nitrate market opportunities.
Ceric Ammonium Nitrate Market Segmental Analysis :
By Purity:
Based on purity, the market is categorized into low purity (<=98%) and high purity (>98%).
Trends in Purity:
- As per ceric ammonium nitrate market trends, low purity form is widely used catalytic converters and coatings.
- Adoption of high purity form is growing in the synthesis of active pharmaceutical ingredients as per market trends.
The low purity (<=98%) segment accounted for the largest market share in the year 2024.
- The low purity (<=98%) ceric ammonium nitrate is an industrial grade inorganic compound used in bulk chemical processes.
- It is cost-effective and provides the required functionality without the high costs associated with ultra-pure variants.
- It is widely used in etching, catalysis, and oxidation reactions in various sectors such as electronics, automotive, and water treatment.
- Further, the governments are imposing environmental regulations in the automotive sector. This is driving the use of low purity ceric ammonium nitrate by automobile manufacturers for catalytic converters and coatings.
- Thus, stringent environmental regulations are growing leading to increased use of low purity CAN, thereby driving the segment.
The high purity (>98%) segment is expected to grow at the fastest CAGR over the forecast period.
- The high purity (<98%) ceric ammonium nitrate is a refined form with minimal impurities.
- It has superior consistency, higher reactivity and minimal contamination which ensures higher precision in drug production, high-end electronics, and analytical research.
- In the drug production, it is used for the synthesis of active pharmaceutical ingredients. It also ensures production of high-quality drugs though enhanced reaction efficiency.
- Further, drug production is growing due to rising chronic disease and government investment in drug research and development.
- For instance, according to European Federation of Pharmaceutical Industries and Associations, the drug production in Europe is increased by 7.3% in 2023 as compared to the year 2022. This is driving the adoption of high purity form for the synthesis of active pharmaceutical ingredients.
- Thus, drug production is growing which is requiring high-purity form for high-quality drugs. This will drive the segment for the forecasted years.
By Application:
Based on application, the market is categorized into organic synthesis, photomasks, liquid crystal displays, vehicle exhaust, and others.
Trends in Application:
- According to ceric ammonium nitrate market trends, this compound is extensively used in liquid crystal displays for etching and surface treatment.
- Adoption of this compound is growing in the organic synthesis for the selective oxidation as per market trends.
The liquid crystal displays segment accounted for the largest market share in the year 2024.
- The liquid crystal displays are flat-panel displays that use liquid crystals to produce images.
- The ceric ammonium nitrate is used in liquid crystal displays for etching and surface treatment.
- It ensures high selectivity and efficiency in removing unwanted material without damaging delicate components of liquid crystal displays.
- Further, the adoption of liquid crystal displays panels are increasing due to expansion of digital media and consumer preferences for high-resolution displays.
- For instance, according to Hongguang Display, the global sales of liquid crystal displays panels are increased by 5.8% in 2024 as compared to the year 2023. This growing adoption of liquid crystal displays panels is leading to use of ceric ammonium nitrate for the surface treatment.
- Hence, the adoption of liquid crystal displays panels is growing which is driving the use of CAN, thereby driving the segment.
The organic synthesis segment is expected to grow at the fastest CAGR over the forecast period.
- Organic synthesis is the process of constructing complex organic molecules from simpler compounds through chemical reactions.
- The ceric ammonium nitrate is used in the organic synthesis for the selective oxidation and functional group transformation.
- The advantages include high selectivity, mild reaction conditions, and compatibility with various substrates, making it essential in organic synthesis.
- It also used as an oxidizing agent which enables efficient and selective oxidation reactions with minimal waste in the organic synthesis of green chemistry.
- Further, growing focus towards sustainability and stringent environmental regulations is leading to increased use of green chemistry. This is driving the adoption of ceric ammonium nitrate for selective oxidation reactions.
- Thus, application of green chemistry is growing which is driving the use of CAN for minimal waste in the organic synthesis. This will drive the segment for the forecasted years.
By End-Use:
Based on end-use, the market is categorized into electronics, chemical, pharmaceutical, automotive, and others.
Trends in End-Use:
- CAN is widely used in in the production of miniaturized electronic components.
- Adoption of this compound is growing for production of specialty chemicals as per market trends.
The electronics segment accounted for the largest market share of 48.19% in the year 2024.
- In electronics, ceric ammonium nitrate compound is used in the synthesis of nanoparticles for nano capacitators and flexible electronic units.
- It is essential in oxidation processes during the production of micro-electromechanical system and microchips.
- This compound is also used in the fabrication of conductive nanowires and quantum dots in miniaturized electronic components.
- Further, rise of 5G technology and Internet of Things devices is boosting demand for miniaturized electronic components. This is driving the use of this compound fabrication of conductive nanowires.
- Thus, use of miniaturized electronic components is rising which is leading to increased use of this compound in quantum dots, thereby driving the segment.
The chemical segment is expected to grow at the fastest CAGR over the forecast period.
- The ceric ammonium nitrate compound is used in the chemical sector for polymerization, nitration, and organic synthesis.
- It is also used in the production of specialty chemicals for controlled oxidation and catalytic reactions which reduces unwanted byproducts.
- The demand for specialty chemicals is growing due to expanding use in sectors such as healthcare, renewable energy and high-technology manufacturing. To cater this, companies are expanding their specialty chemicals production.
- For instance, in 2024, PCBL Ltd. expands specialty chemicals production by 50% in India. This expanding production of specialty chemicals is driving the use of ceric ammonium nitrate for controlled oxidation reactions.
- Hence, production of specialty chemicals is growing which is driving the use of this compound for catalytic reactions. This will drive the segment for the forecasted years.
Regional Analysis:
The regional segment includes North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
In 2024, North America accounted for the highest market share at 40.17% and was valued at USD 107.15 Million and is expected to reach USD 138.09 Million in 2032. In North America, United States accounted for the highest ceric ammonium nitrate market share of 72.04% during the base year of 2024. As per analysis, North America region holds a dominant position in the market due to expanding automotive sector. In this sector, ceric ammonium nitrate is used in the antic-corrosion coatings and manufacturing of lightweight materials in the vehicles. It is also used in motor vehicle production for emission controls systems and high-performance finishes. Countries such as United States, Mexico, and Canada leads the market due to expanding motor vehicle production.
- According to CEIC, the motor vehicle production in United States is increased by 5.56% in 2023 as compared to the year 2022. This is driving the use of CAN in emission controls systems.
Therefore, the North America region is dominating in the market, supported by growing production of car as per analysis.
Asia-Pacific is expected to witness the fastest CAGR of 7.0% over the forecast period of 2025-2032. As per ceric ammonium nitrate market analysis, Asia Pacific region is growing rapidly driven by advancements in technology. Advancement in manufacturing have enhanced the efficiency, sustainability, and cost-effectiveness of the compound. Countries such as China, India, Japan, and South Korea leads the market due to innovations in automation and artificial intelligence driven process control. These are optimizing production and ensuring high-purity compound for various applications such as photomasks and specialty chemicals. Hence, ceric ammonium nitrate market share of Asia Pacific is expected to emerge rapidly through technological advancements as per analysis.
According to ceric ammonium nitrate market analysis, Europe region is growing considerably in the market driven by expanding pharmaceutical industry. The ceric ammonium nitrate is used in modifying polymers and nanoparticles for drug delivery systems. Additionally, the investment in pharmaceutical sector is also growing further boosting the market growth.
The Middle East & Africa region is experiencing moderate growth in the market driven by electronics sector. The ceric ammonium nitrate is used in the electronics sector in the modification of silicon wafers and other semiconductors materials. The growing digitalization and increasing urbanization is further boosting its adoption. This is leading to ceric ammonium nitrate market expansion across the region.
As per market analysis, Latin America is experiencing steady growth in the market driven by expanding chemical industry. The ceric ammonium nitrate is used for redox titrations and quantitative analysis of organic compounds. It is also incorporated in the photochemical reactions in the development of photo reactive compounds. Countries such as Brazil, Mexico, and Argentina are leading the market in the region supported by expanding chemical manufacturing plants.
Top Key Players & Market Share Insights:
The ceric ammonium nitrate industry is highly competitive with major players providing products to the national and international markets. Key players are adopting several strategies in research and development (R&D) and product innovation to hold a strong position in the global ceric ammonium nitrate market. Key players in the ceric ammonium nitrate industry include-
- URANUS CHEMICALS CO., LTD (Taiwan)
- Merck KGaA (Germany)
- American Elements (United States)
- Chuanyan Technology Co., Ltd. (China)
- Thomas Scientific (United States)
- ProChem Inc. (United States)
- GFS Chemical, Inc. (United States)
- Ganzhou Wanfeng Advanced Materials Tech. Co., Ltd. (China)
- Blue Line Corporation (Denmark)
- Treibacher Industrie AG (Austria)
Ceric Ammonium Nitrate Market Report Insights:
| Report Attributes | Report Details |
| Study Timeline | 2019-2032 |
| Market Size in 2032 | USD 399.87 Million |
| CAGR (2025-2032) | 5.2% |
| By Purity |
|
| By Application |
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| By End-Use |
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| By Region |
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| Key Players |
|
| North America | U.S. Canada Mexico |
| Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
| APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
| Middle East and Africa | GCC Turkey South Africa Rest of MEA |
| LATAM | Brazil Argentina Chile Rest of LATAM |
| Report Coverage |
|
Key Questions Answered in the Report
How big is the ceric ammonium nitrate market? +
In 2024, the ceric ammonium nitrate market is USD 266.78 million.
Which is the fastest-growing region in the ceric ammonium nitrate market? +
Asia Pacific is the fastest-growing region in the ceric ammonium nitrate market.
What specific segmentation details are covered in the ceric ammonium nitrate market? +
Purity, Application, and End-Use are covered in the ceric ammonium nitrate market.
Who are the major players in the ceric ammonium nitrate market? +
URANUS CHEMICALS CO., LTD (Taiwan), Merck KGaA (Germany), and ProChem Inc. (United States) are some of the major players in the market.
