Bismuth Market Size, Share, Analysis, Trends, Growth, 2032

Bismuth Industry Prospective:

The global bismuth market size was evaluated at $435 million in 2023 and is slated to hit $736 million by the end of 2032 with a CAGR of nearly 6% between 2024 and 2032.

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Bismuth Market: Overview

Bismuth is a high-density pink-tinged metal with Bi symbol. Reportedly, the metal is brittle and is mixed with other metals to increase its use in many end-use sectors.

For the record, bismuth is alloyed with cadmium or tin and this mixture is utilized in fire extinguishers, fire detectors, solders, and electric fuses. The product is used in safety equipment, pharmaceuticals, and cosmetics.  

Key Insights

• As per the analysis shared by our research analyst, the global bismuth market is projected to expand annually at the annual growth rate of around 6% over the forecast timespan (2024-2032)
• In terms of revenue, the global bismuth market size was evaluated at nearly $435 million in 2023 and is expected to reach $736 million by 2032.
• The global bismuth market is anticipated to grow rapidly over the forecast timeline owing to humungous use of metal in the pharmaceuticals and automotive sectors along with rising industrialization.
• In terms of derivative, the bismuth oxychloride segment is slated to register the highest CAGR over the forecast period.
• •Based on end-use, the pharmaceuticals segment is predicted to contribute majorly towards segmental space in the upcoming years.
• Region-wise, the North American bismuth industry is projected to register the fastest CAGR during the assessment timespan.

Bismuth Market: Growth Factors

Large-scale metal application in automotive and pharmaceutical sectors to boost the global market trends

Flourishing cosmetics and electronics sectors are likely to bolster the expansion of the global bismuth market. Moreover, the humungous use of metal in the pharmaceuticals and automotive sectors, along with rising industrialization, will scale up the market demand globally.

Apart from this, large-scale penetration of bismuth in the manufacture of specialty chemicals and utilization of the metal in various end-use sectors will embellish the global market trends.

In addition, innovations in battery technologies and various other industrial applications will propel the global market expansion.

Surging popularity of non-toxic metals such as bismuth and demand for eco-friendly products will impel the market sphere in the upcoming years.

Bismuth Market: Restraints

Lack of bismuth reserves and high extracting & mining costs can hamper the global industry surge by 2032

Restricted availability of bismuth reservoirs, along with huge processing prices of product, has inhibited the global bismuth industry surge.

Moreover, the easy availability of cost-effective substitutes can deter global industry expansion in the upcoming years. Strict government laws limiting the usage of exceptional metals such as bismuth owing to their unique features can retard the industry’s growth globally.

Bismuth Market: Opportunities

Huge need for power storage is projected to generate new growth avenues for the global market

Breakthroughs in medical & pharmaceutical sectors, along with renewable energy trends, are likely to create new growth avenues for the global bismuth market.

Furthermore, the growing demand for power storage will escalate the global market expansion. In addition to this, huge usage of specialty chemicals will propel the business space in the years ahead.

Bismuth Market: Challenges

Economic upheavals can severely impact the growth of the global industry over forecast period

Growing health risks related to the use of bismuth in cosmetics and pharmaceuticals can obstruct the global bismuth industry proliferation. Economic oscillations can impact product prices and demand, challenging the global industry expansion by 2032.

Bismuth Market: Segmentation

The global bismuth market is divided into derivative, end-use, and region.                                             

In terms of derivative, the bismuth market across the globe is segmented into bismuth nitrate, bismuth aluminate, bismuth oxide, bismuth aluminate, bismuth subnitrate, bismuth oxychloride, and bismuth subcarbonate segments.

Apparently, the bismuth oxychloride segment, which gathered nearly two-fifths of the global market revenue in 2023, is expected to record the fastest CAGR in the coming eight years due to the large-scale use of bismuth oxychloride in cleansing products, makeup, and nail products due to its low-toxic properties.      

Based on the end-use, the global bismuth industry is divided into automotive, pharmaceuticals, electronics, and cosmetics & pigments segments.

Apparently, the pharmaceuticals segment, which dominated the global industry share in 2023, is projected to contribute majorly towards the segmental expansion in the analysis timeline.

This can be a result of the large-scale use of bismuth in pharmaceutical formulations for treating gastrointestinal ailments, including diarrhea and ulcers. Demand for non-toxic metal treatment will steer the segmental surge.  

Bismuth Market: Report Scope

Bismuth Market: Regional Insights

Asia-Pacific is likely to maintain leading status in the global market over the assessment period

Asia-Pacific, which contributed for about three-fourths of the global bismuth market size in 2023, is slated to establish a leading position in the global market in the analysis timeline.

Furthermore, the regional market expansion in the coming few years can be due to huge product demand in pharmaceuticals, cosmetics, and electronics sectors in countries such as India and China.

Additionally, a rise in the manufacturing capacity in Asian countries will prop up the regional market surge. Supportive government laws and reductions in manufacturing prices can hamper the market surge in APAC. Reduced labor prices and huge natural resources   

The North American bismuth industry is expected to register the highest CAGR in the prognosis timespan. The elevation of the industry in the region can be subject to the humungous demand for non-toxic metals in various end-use sectors in countries such as the U.S.

In addition, a high focus on research activities and breakthroughs in the pharmaceutical & electronics sectors will prop up the regional industry trends.

Bismuth Market: Competitive Space

The global bismuth market profiles key players such as:

• Fortune Minerals Ltd.
• Merck KGaA
• Hunan Jinwang Bismuth Industry Co. Ltd.
• BASF SE
• Industrias Peñoles
• S.A. de C.V.
• 5N Plus Inc.
• Geotech International B.V.
• Hunan Shizhuyuan Nonferrous Metals Co. Ltd.
• Nui Phao Mining Company Limited
• Hunan YuTeng Nonferrous Metals Co. Ltd.
• China Minmetals Corporation.

The global bismuth market is segmented as follows:

By Derivative Type

• Bismuth Nitrate
• Bismuth Aluminate
• Bismuth Oxide
• Bismuth Aluminate
• Bismuth Subnitrate
• Bismuth Oxychloride
• Bismuth Subcarbonate

By Source

• Automotive
• Pharmaceuticals
• Electronics
• Cosmetics & Pigments

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa