Global Bismuth Market Insights Forecasts to 2033

• The Global Bismuth Market Size was Valued at USD 434.2 Million in 2023
• The Market Size is Growing at a CAGR of 5.41% from 2023 to 2033
• The Worldwide Bismuth Market Size is Expected to Reach USD 735.2 Million by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Bismuth Market Size is Anticipated to Exceed USD 735.2 Million by 2033, Growing at a CAGR of 5.41% from 2023 to 2033.

Market Overview

Bismuth, the least toxic heavy metal resembles lead in many of its characteristics. Lead and bismuth are similar to heavy metals in many aspects. Bismuth is the least poisonous. It is the most diamagnetic naturally occurring substance that is currently known. This crystalline white metal is used in a wide range of industries. It can be found in nature in minerals called bismuthine, bismite, or bismuthinite. Nonetheless, it is more frequently created as a lead byproduct during refinement. Bismuth comes in pellet, powder, and needle form and is utilized commercially in various industries. Bismuth is a white, crystalline chemical that is brittle and somewhat pink in color. It is used extensively in ammunition, fire extinguishers, cosmetics, and alloys. Due to its low melting point and ability to be molded into a wide variety of forms, it is perfect for creating alloys. Bismuth finds use in fusible alloys, industrial colors, medicines, cosmetics, and metallurgical additives. As it is the least poisonous heavy metal, it is also utilized in the chemical, metallurgical, cosmetic, paint and coating, and electronics industries. It might be purchased commercially as powder, pellets, and needles. It can also be substituted for lead in a variety of applications. Among other metals, bismuth has one of the lowest thermal conductivities since it is one of the most widely accessible diamagnetic elements. When bismuth is produced, the most significant industrial constituent is bismuth oxide. Similar to bismuth chemistry is the starting point for bismuth oxide chemistry. There aren't many economic uses for bismuth oxide, however none of them involve using it extensively. The pharmaceutical business uses bismuth oxide as a component. However, the amount of bismuth oxide used in dental materials is gradually decreasing.

Report Coverage

This research report categorizes the market for the global bismuth market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global bismuth market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global bismuth market.

Driving Factors

The bismuth market is expanding as a result of the pharmaceutical industry's growing use of bismuth compounds in a variety of applications. The essential bismuth component bismuth subsalicylate, better known by its brand name Pepto-Bismol, is frequently included in over-the-counter gastrointestinal medications used to treat upset stomach, diarrhea, and indigestion. It functions by coating lesions and shielding the lining of the stomach with mucus secreted by the stomach and serving as an adhesive. Due to the rising prevalence of diarrhea, gastroenteritis, and other digestive problems, Pepto-Bismol usage has increased during the past several years in all major international markets. With increasing expenditure on skincare and beauty products worldwide over the past several years, the cosmetics business has experienced phenomenal development. Bismuth is very beneficial to the cosmetics business due to a number of its qualities. Because of its non-toxicity and hypoallergenic properties, it offers a secure substitute for other metals included in cosmetic formulas. Due to its ability to calm and soothe skin, bismuth is frequently used as an active component in skincare products designed for sensitive skin. The demand for gentle and natural cosmetics has increased dramatically due to growing health and hygiene concerns.

Restraining Factors

The intense rivalry that alternative products have been posing to the global bismuth industry is turning out to be a significant growth inhibitor. The primary application for bismuth is as a non-toxic substitute for lead in products including medicines, cosmetics, and weaponry. Bismuth is not necessary to replace lead, however, there are other non-toxic metals that work just as well. The expansion of the bismuth market over the past few years has been severely constrained by fluctuations in the price of bismuth ore. Bismuth has widespread application in many fields, including electronics, rubber, metallurgy, chemistry, and pharmaceuticals. However, as bismuth is a byproduct of the extraction of other metals, like lead, the production of primary metals has a significant impact on its availability.

Market Segmentation

The global bismuth market share is classified into derivatives and end users.

• The bismuth oxide segment is expected to hold the largest share of the global bismuth market during the forecast period.   

Based on the derivatives, the global bismuth market is divided into bismuth nitrate, bismuth oxide, bismuth oxychloride, and bismuth sub carbonate. Among these, the bismuth oxide segment is expected to hold the largest share of the global bismuth market during the forecast period. Bismuth oxide, sometimes referred to as bismuth trioxide or bismuth (III) oxide, is a substance that is extensively utilized in a variety of contexts. It is widely used as a pigment in ceramics and glass, a catalyst in the creation of acrylic fibers, and an ingredient in the construction of electrical gadgets. The worldwide bismuth market is dominated by this category due to the increased demand for bismuth oxide across various industries.

• The pharmaceuticals segment is expected to hold the largest share of the global bismuth market during the forecast period.   

Based on the end user, the global bismuth market is divided into pharmaceuticals, automotive, electrical and electronics, and cosmetics. Among these, the pharmaceuticals segment is expected to hold the largest share of the global bismuth market during the forecast period. Bismuth subsalicylate, for example, is frequently used in generic drugs for the treatment of gastrointestinal disorders. The pharmaceutical industry's demand for bismuth is driven by the rising prevalence of digestive ailments and the need for efficient gastrointestinal treatments. Bismuth compounds are widely used in the pharmaceutical sector for their antacid and anti-diarrheal properties.

Regional Segment Analysis of the Global Bismuth Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global bismuth market over the predicted timeframe.

North America is anticipated to hold the largest share of the global bismuth market over the predicted timeframe. Rising technical advancements in battery systems, medical devices, and pharmaceuticals in the North America region are anticipated to fuel market expansion. The market for bismuth will be dominated by North America because of the rise in cosmetic operations and the pharmaceutical industry's substantial expansion in the market as a whole. The region's market will develop faster as to the rising demand in end-use sectors including electronics, healthcare, and transportation.

Asia Pacific is expected to grow at the fastest pace in the global bismuth market during the forecast period. It is anticipated that bismuth will continue to rule the market for the foreseeable future due to the growing demand for it in the region's electronics, transportation, and pharmaceutical industries. The demand in the region is also driven by the sudden changeover in important places from lead-based machine steel to bismuth machine steel and by the growing cosmetic industry in the region. Industrialization and urbanization are two more factors driving market expansion. The world market as a result of the existence of significant bismuth-producing nations like China and Vietnam. Bismuth is in high demand in the region as to the expanding industrial sectors, which include electronics, pharmaceuticals, and cosmetics.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global bismuth market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Hunan Jinwang Bismuth Industrial Co., Ltd.
• Geotech International B.V.
• 5N Plus Inc.
• Hunan YuTeng Nonferrous Metals Co., Ltd.
• TIB Chemicals AG
• JX Nippon Mining & Metals Corporation
• Met-Mex Peñoles, S.A. de C.V.
• Umicore N.V.
• China Minmetals Corporation
• Changsha Easchem Co., Limited
• Nui Phao Mining Company Limited
• Chenzhou Mining Group Co., Ltd.
• TTT Metal Powder
• Rare Metal Resources B.V.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2023, the opening of a new bismuth mine in Bolivia is anticipated to boost the metal's supply worldwide.

• In May 2022, the Bismuth Institute declared the opening of its brand-new website, which offers details about bismuth and its uses.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global bismuth market based on the below-mentioned segments: 

Global Bismuth Market, By Derivatives

• Bismuth Nitrate
• Bismuth Oxide
• Bismuth Oxychloride
• Bismuth Sub Carbonate

Global Bismuth Market, By End User

• Pharmaceuticals
• Automotive
• Electrical and Electronics
• Cosmetics

Global Bismuth Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa