According to Fact.MR, a market research and competitive intelligence provider, the global Bismuth Market is valued at US$ 380.90 million in 2023 and is anticipated to increase at a CAGR of 7.6% from 2023 to 2033.
Bismuth, a chemical element with the atomic number 83, is an increasingly sought-after metal used in various industries such as automotive, electronics, healthcare, and cosmetics due to its unique properties and versatile applications. The global bismuth market is experiencing significant growth due to factors such as increasing demand from electronics and healthcare sectors as well as advancements in bismuth-based alloys and compounds.
Bismuth is widely used in the electronics sector primarily due to its low toxicity, high electrical resistance, and ability to form unique compounds. Bismuth is used in the production of thermal fuses, semiconductors, superconductors, and lead-free soldering materials. With the rapid expansion of the electronics sector, particularly in emerging economies, the demand for bismuth is expected to increase swiftly over the coming 10 years.
The development of bismuth alloys and compounds has opened up new avenues for their utilization in diverse industries. Bismuth-based alloys have low melting points and are extensively used in applications where low-temperature soldering is required such as plumbing fixtures and fire sprinkler systems. Furthermore, bismuth compounds are gaining traction in the pharmaceutical industry for their potential use in drugs targeting gastrointestinal disorders, in the automotive sector for producing low-weight parts, and in cosmetics due to their antimicrobial properties.
Key Takeaways from Market Study
- The global bismuth market is projected to reach US$ 792.38 million by 2033.
- Growing emphasis on sustainability in North America is boosting the adoption of bismuth as a lead-free alternative.
- Presence of a strong electronics sector in Asia Pacific is driving demand for bismuth to be used in the production of semiconductors & superconductors.
- Europe, being at the forefront of the healthcare sector, is driving demand for bismuth compounds for the production of pharmaceutical formulations.
“Increasing focus on gastrointestinal health and rising prevalence of digestive disorders are expected to drive the demand for bismuth-based pharmaceuticals in the healthcare sector,” says Fact.MR analyst.
Key Market Development
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.
- In March 2023, Endo International plc, a pharmaceutical company, announced that its subsidiary Par Pharmaceutical, Inc., commenced the shipment of the first generic version of Allergan’s Pylera® capsules in the United States. This development followed the final approval granted by the U.S. Food and Drug Administration (FDA) for Par Pharmaceutical’s Abbreviated New Drug Application. The generic Pylera® capsules contain bismuth subcitrate potassium, metronidazole, and tetracycline hydrochloride in doses of 140 mg, 125 mg, and 125 mg respectively. Pylera® is a well-known medication used for the eradication of Helicobacter pylori, a bacterium associated with gastric ulcers.
Key Companies Profiled
- 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
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global bismuth market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on derivative (bismuth nitrate, bismuth oxide, bismuth oxychloride, bismuth subcarbonate) and application (pharmaceuticals, automotive, electrical & electronics, cosmetics), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).