Market Size of Bismuth Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bismuth Market Analysis
The bismuth market is projected to register a CAGR of more than 5% during the forecast period.
Because of the global constraints affecting the automotive, cosmetics, and other industries, the COVID-19 pandemic had a substantial impact on the market for bismuth. However, the industry has expanded since 2021, and the market is expected to follow suit throughout the projection period.
- The growing use of bismuth in the automobile industry to protect brake linings, among other things, from rust coatings is likely to drive market expansion. Furthermore, the widespread use of bismuth in the pharmaceutical industry is projected to drive the market.
- However, the harm that bismuth consumption causes to the human body is likely to prevent market growth. Furthermore, the industry is projected to be hampered by the limited use of bismuth due to other cost-effective options.
- The increasing use of bismuth in the battery segment, especially in the electric vehicle market, is likely to act as an opportunity for the market.
- The Asia-Pacific region dominated the market and is expected to continue doing so in the projected period.
Bismuth Industry Segmentation
Bismuth is a brittle metal with a silvery-white color when freshly produced that is used in cosmetics, pigments, and even pharmaceuticals. It is primarily used in the treatment of diarrhea. The bismuth market is segmented by derivatives, end-user industry, and geography (Asia-Pacific, North America, Europe, South America, the Middle East, and Africa). By derivatives, the market is segmented into bismuth nitrate, bismuth oxide, bismuth oxychloride, bismuth subcarbonate, and other derivatives. By end-user industry, the market is segmented into pharmaceuticals, automotive, electrical and electronics, cosmetics, and other end-user industries. The report also covers the market sizes and forecasts for the bismuth market in 15 countries across major regions. For each segment, market sizing and forecasts have been done based on revenue (USD million).
| Derivatives | |
| Bismuth Nitrate | |
| Bismuth Oxide | |
| Bismuth Oxychloride | |
| Bismuth Subcarbonate | |
| Other Derivatives |
| End-user Industry | |
| Pharmaceuticals | |
| Automotive | |
| Electrical and Electronics | |
| Cosmetics | |
| Other End-user Industries |
| Geography | |||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||
|
Bismuth Market Size Summary
The bismuth market is experiencing a positive trajectory, with expectations of steady growth over the forecast period. The industry faced significant challenges due to the COVID-19 pandemic, which impacted sectors such as automotive and cosmetics. However, recovery has been underway since 2021, and the market is poised for further expansion. Key drivers of growth include the increasing application of bismuth in the automotive sector for rust protection and its extensive use in pharmaceuticals, particularly for gastrointestinal treatments. Despite these opportunities, the market faces challenges due to the potential health risks associated with bismuth consumption and competition from more cost-effective alternatives. The burgeoning electric vehicle market presents a promising opportunity for bismuth's application in batteries, potentially bolstering market growth.
The Asia-Pacific region stands out as the dominant force in the bismuth market, driven by robust industrial activities in pharmaceuticals, electronics, and automotive sectors. Countries like India and China play pivotal roles, with India being a major supplier of generic medicines and China leading in automobile production. The region's growth is further supported by increased healthcare spending and pharmaceutical production capabilities in countries like Japan. The market is characterized by consolidation, with major players such as 5N Plus, BASF SE, and Merck KGaA holding significant market shares. Recent developments, such as the introduction of generic bismuth-based pharmaceuticals in the United States and advancements in bismuth-doped fiber technology, highlight ongoing innovation and demand in the market.
Bismuth Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Drivers
-
1.1.1 Growing Use of Bismuth in Automobile Industry to Protect Brake Linings
-
1.1.2 Widespread Use of Bismuth in the Pharmaceutical Industry
-
-
1.2 Restraints
-
1.2.1 Harm Done to the Human Body by Working with Bismuth
-
1.2.2 Limited Use of Bismuth due to Other Cost-effective Options
-
-
1.3 Industry Value-Chain Analysis
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Buyers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products and Services
-
1.4.5 Degree of Competition
-
-
-
2. MARKET SEGMENTATION
-
2.1 Derivatives
-
2.1.1 Bismuth Nitrate
-
2.1.2 Bismuth Oxide
-
2.1.3 Bismuth Oxychloride
-
2.1.4 Bismuth Subcarbonate
-
2.1.5 Other Derivatives
-
-
2.2 End-user Industry
-
2.2.1 Pharmaceuticals
-
2.2.2 Automotive
-
2.2.3 Electrical and Electronics
-
2.2.4 Cosmetics
-
2.2.5 Other End-user Industries
-
-
2.3 Geography
-
2.3.1 Production Analysis
-
2.3.1.1 Bolivia
-
2.3.1.2 Bulgaria
-
2.3.1.3 Canada
-
2.3.1.4 China
-
2.3.1.5 Japan
-
2.3.1.6 Kazakhstan
-
2.3.1.7 Laos
-
2.3.1.8 South Korea
-
2.3.1.9 Mexico
-
-
2.3.2 Consumption Analysis
-
2.3.2.1 Asia-Pacific
-
2.3.2.1.1 China
-
2.3.2.1.2 India
-
2.3.2.1.3 Japan
-
2.3.2.1.4 South Korea
-
2.3.2.1.5 Rest of Asia-Pacific
-
-
2.3.2.2 North America
-
2.3.2.2.1 United States
-
2.3.2.2.2 Canada
-
2.3.2.2.3 Mexico
-
-
2.3.2.3 Europe
-
2.3.2.3.1 Germany
-
2.3.2.3.2 United Kingdom
-
2.3.2.3.3 Italy
-
2.3.2.3.4 France
-
2.3.2.3.5 Rest of Europe
-
-
2.3.2.4 South America
-
2.3.2.4.1 Brazil
-
2.3.2.4.2 Argentina
-
2.3.2.4.3 Rest of South America
-
-
2.3.2.5 Middle-East and Africa
-
2.3.2.5.1 Saudi Arabia
-
2.3.2.5.2 South Africa
-
2.3.2.5.3 Rest of Middle-East and Africa
-
-
-
-
Bismuth Market Size FAQs
What is the current Bismuth Market size?
The Bismuth Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Bismuth Market?
5N Plus, BASF SE, Xianyang Yuehua Bismuth Co., Ltd., Industrias Peñoles and Merck KGaA are the major companies operating in the Bismuth Market.
