Global Bismuth Market was valued US$ XX Mn in 2019 and is expected to grow around US$ XX Mn by 2027, at a CAGR of XX% during the forecast period.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Global Bismuth Market Overview:
Bismuth is a white, crystalline, brittle metal that has a little pinkish tinge. One of the important characteristics of the elements is its diamagnetism, which is the strongest among all metals. The other key features include high electrical resistance and incredibly low thermal conductivity. Bismite and bismuthimite are the two main metals of bismuth. Bismuth is majorly found in Mexico, Japan, Bolivia, Peru, and Canada. Bismuth, in elemental, alloyed, or chemical compound forms, has many applications, for example, bismuth alloy is used for fire detection & suppression system safety device as well as in solder, cosmetics, medicines, and medical procedures. In the current years, lead has been substituted by bismuth, on account of the high toxicity of lead.
Global Bismuth Market Drivers:
Increasing environmental regulations about the main usage in numerous end-use industries would drive the demand for bismuth and bismuth-derived compounds. Severe regulations and initiatives by leading producers in end-use industries to phase out lead production are expected to increase the bismuth market growth. Russia, Bolivia, and Canada produce bismuth besides China, Vietnam, and México, though, the output is in small quantities. Around 65 percent of the global bismuth investments are in China, mostly consolidated in Hunan, Guangdong, and Jiangxi provinces. Bismuth is produced primarily as a by-product of the smelting of lead ores; thus, the reserves are generally based on bismuth content of lead resources. The Tasna Mine in Bolivia and mines in Jihuai County, Guangdong Province in China produced bismuth from bismuth ore. The output of bismuth in the Hunan province accounts for nearly 60% of the overall supply in China.
The new competitors venturing in with high production capacity is expected to be a noticeable trend in the market. Additionally, use of bismuth in a high-tech application such as wearable technology and as an anode for Sodium-Ion Batteries (SIB) is an additional trend in the global market.
On the other hand, the production of lead which is a prominent source of bismuth supply is expected to drop, due to the regulations and reducing consumption of lead-acid batteries in the global market. This declining lead production is likely to be a key restraint in global bismuth market growth over the forecast period. Also, the increasing use of alternatives i.e. alumina and magnesia in pharmaceuticals application and use of tungsten and tin in alloys application is expected to be a major hindrance to the market growth.
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Global Bismuth Market Segmentation:
By derivatives, the global market is expected to be driven by augmented demand in end-use industries, like cosmetics and pharmaceuticals. Bismuth derivatives are mostly used in pharmaceutical industries for the treatment of gastric ulcers, treat burns, and diarrhea. Bismuth oxide imparts a silvery shine to cosmetic products, because of which it is widely used in cosmetic industries to produce hair sprays, eye shadows, nail paints, and lipsticks. So, the increasing spending on cosmetic products and the growing personal care industry is expected to boost the demand for bismuth as an ingredient in the latter. As well, bismuth is extensively used as a metallurgical additive in the foundries as it improves the overall quality of metals. Likewise, being non-toxic in nature it is used as an alternative for lead in brass, solders, and steel, which is further adding important value in the global market.
Region-wise, Asia-Pacific held the largest market share of the global bismuth market in 2018 and is expected to register the highest CAGR during the forecast period. This is mainly because of the massive demand for bismuth in electronics, pharmaceutical industries, and the growing transportation sector in the region. Also, the shift in inclination towards bismuth, replacing lead-based free machining steel in major industrial sectors, and the rising cosmetic industries in the region can be attributed to the demand. For example, China has shown noteworthy growth of 24.3% in sales of make-up products in 2018 building the cosmetic market worth over US$ 26 billion in the country. India, Japan, and South Korea Following China are some of the other countries contributing to the market growth in the region. Also, the existence of established companies, for instance, POSCO, Zhuzhou Keneng New Material Co., Ltd, Masan Group, and others, there is a stronghold in the bismuth market in the region.
The North American region accounted for a significant market share in 2018. Thanks to the demand for bismuth in well-established end-use industries, like cosmetics, electronics, and pharmaceutical in the region is expected to grow considerably during the forecast period. The growing pharmaceutical industries in the U.S. will offer lucrative opportunities for players operating in the bismuth market.
The objective of the report is to present a comprehensive analysis of the Global Bismuth Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Bismuth Market dynamics, structure by analyzing the market segments and project the Global Bismuth Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Bismuth Market make the report investor’s guide.
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