According to a thorough industry analysis by Fact.MR, the global bismuth market will be worth US$380.90 million in 2023. By 2033, the market for bismuth is anticipated to be worth US$792.38 million, growing at a CAGR of 7.6%.The atomic number 83 and chemical symbol Bi identify the element bismuth. It is a free element that is found in nature and is silvery-white and fragile. Bismuth is classified as a post-transition metal and is found in Group 15 of the periodic table, along with nitrogen, phosphorus, arsenic, antimony, and moscovium.
Bismuth is renowned for having special physical characteristics. One of the few common materials that has a relatively low melting point (271.4 degrees Celsius or 520.5 degrees Fahrenheit) and expands as it solidifies metals that expands when it freezes. This property allows bismuth to form intricate, colorful crystals when it solidifies from its molten state. The chemical element bismuth has the atomic number 83 and the symbol Bi. Due to its special qualities, this fragile metal finds use in a number of diverse industries. Given its low toxicity in comparison to other heavy metals, bismuth is frequently regarded as a post-transition metal.
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Market Players: –
- 5N Plus
- BASF SE
- Xianyang Yuehua Bismuth Co., Ltd.
- Industrias Peñoles
- Merck KGaA
- Geotech International B.V.
- Hunan Jinwang Bismuth Industry Co. Ltd
- Nui Phao Mining Joint Venture Co.Ltd
- Fortune Minerals Ltd
- Western Minmetals (SC) Corporation
- Shenzhen Chinary Co. Ltd
Market Trends and Factors:
- Pharmaceutical Industry: The demand for bismuth compounds in pharmaceuticals is expected to remain steady, as these compounds are used to treat various gastrointestinal conditions.
- Cosmetics Industry: Bismuth oxychloride’s use in cosmetics has faced some scrutiny due to its potential to cause skin irritation in some individuals. However, its iridescent properties continue to make it popular in certain cosmetic formulations.
- Soldering and Electronics: The demand for bismuth-based solder alloys could be influenced by trends in the electronics industry, including miniaturization and changes in soldering techniques.
- Alloys and Manufacturing: The demand for bismuth as an alloying element depends on various factors, including the overall demand for the specific metals and alloys in which bismuth is used.
- Environmental and Health Considerations: Bismuth’s relatively low toxicity compared to other heavy metals can make it an attractive choice for certain applications where safety is a concern.
Key Segments Covered in Bismuth Industry Research
- By Derivative :
- Bismuth Nitrate
- Bismuth Oxide
- Bismuth Oxychloride
- Bismuth Subcarbonate
- By Application :
- Pharmaceuticals
- Automotive
- Electrical & Electronics
- Cosmetics
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Competitive Landscape
Key players in the bismuth market are focusing on continuous product innovations and R&D activities to introduce advanced and high-quality bismuth compounds to stay competitive in the market by offering unique formulations with enhanced properties and improved efficacy.
Collaborations with other pharmaceutical companies, research institutions, and healthcare organizations are being increasingly adopted as strategies by top producers of bismuth. Such partnerships facilitate knowledge sharing, resource pooling, and joint research efforts, which are expected to accelerate product development and market penetration.
- In March 2022, Viavi Solutions and OFS announced their partnership on a test and measurement-focused amplifier built on a brand-new OFS bismuth-doped fiber produced in sufficient quantities to address the increasing need for 400GbE and 800GbE test applications globally.
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Key Uses and Applications:
- Pharmaceuticals: Bismuth compounds, particularly subsalicylate, are used in over-the-counter medications to treat gastrointestinal issues, such as heartburn, indigestion, and diarrhea.
- Cosmetics: Bismuth oxychloride is used in cosmetics, including makeup products like foundation and powder, due to its pearly and iridescent properties.
- Electronics: Bismuth is a key component in certain types of solder, which is used in electronics manufacturing.
- Alloys: Bismuth is used as an alloying element to improve the machinability and formability of other metals, such as lead, tin, and cadmium.
- Nuclear Industry: Bismuth has been used as a component in certain types of nuclear reactors due to its ability to capture neutrons and its thermal neutron absorption cross-section.
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