Ceria-zirconia oxides is thermodynamically favorable in a wide range of solid solution compositions, which means that ceria-zirconia is metastable with respect to phase separation. Ceria-zirconia is widely used as a component in current three-way catalytic converters. The ceria-based component of the converter has several functions, including promoting the dispersion of the noble metals in the catalyst, but also storing and releasing oxygen. The incorporation of zirconium in modern converters, forming ceria-zirconia, improves the performance of the catalyst by enhancing the resistance of the material to sintering, and simultaneously increasing the ability of the oxide to accommodate oxygen vacancies in its structure.
Cubic zirconia a monopoly on the market from the 1870s to early 2000s. The company plead guilty to these charges in an Ohio court in 13 July 2004. However, De Beers and Co do not have as much power over the market, the price of diamonds continues to increase due to the increased demand in emerging markets such as India and China. Therefore, with the emergence of artificial stones, such as cubic zirconia, that have optic properties highly similar to that of diamonds (see section above), it has been presented that these could be a better alternative for jewelry buyers given their