New York, United States , July 05, 2024 (GLOBE NEWSWIRE) -- The Global Bismuth Market Size is to Grow from USD 434.2 Million in 2023 to USD 735.2 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 5.41% during the projected period.
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Lead and bismuth are similar heavy metals in numerous ways. Bismuth is the least poisonous. In many ways, lead and bismuth are comparable heavy metals. The least toxic is bismuth. It is currently the most diamagnetic material known to exist in nature. Many different businesses utilize this white, crystalline metal. It is present in minerals known as bismuthine, bismite, or bismuthinite found in nature. However, more often produced as a byproduct of lead during processing. Bismuth is used commercially in many different industries and is available in pellet, powder, needle, and ingot form. White is a little pink in colour, and bismuth is a brittle, crystalline substance. It is widely utilized in alloys, fire extinguishers, ammunition, and cosmetics. Bismuth subsalicylate, Pepto-Bismol, is an important bismuth component that is commonly found in over-the-counter gastrointestinal drugs used to treat upset stomach, diarrhea, and indigestion. It works by using mucus released by the stomach as an adhesive to cover lesions and protect the stomach lining. In all of the main worldwide markets, Pepto-Bismol consumption has grown over the past few years due to the growing occurrence of diarrhea, gastroenteritis, and other digestive issues. However, the price variations of bismuth ore have placed significant restrictions on the market's development in recent years. Metallurgy, rubber, electronics, chemistry, and pharmaceuticals are just a few of the industries that use bismuth extensively.
Browse key industry insights spread across 217 pages with 110 Market data tables and figures & charts from the report on the "Global Bismuth Market Size, Share, and COVID-19 Impact Analysis, By Derivatives (Bismuth Nitrate, Bismuth Oxide, Bismuth Oxychloride, Bismuth Sub Carbonate), By End User (Pharmaceuticals, Automotive, Electrical and Electronics, Cosmetics), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The bismuth oxide segment is anticipated to hold the greatest share of the global bismuth market during the projected timeframe.
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 anticipated to hold the greatest share of the global bismuth market during the projected timeframe. Bismuth oxide, also known as bismuth trioxide or bismuth (III) oxide, is a material that is widely used in many different applications. It is widely utilized as a component in the manufacture of electrical devices, a catalyst in the production of acrylic fibers, and a color in glass and ceramics. This segment leads the global bismuth market because of the rising need for bismuth oxide in a variety of sectors.
The pharmaceuticals segment is anticipated to hold the greatest share of the global bismuth market during the projected timeframe.
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 anticipated to hold the greatest share of the global bismuth market during the projected timeframe. bismuth subsalicylate is commonly found in generic medications that are intended to treat gastrointestinal diseases. Bismuth is in high demand in the pharmaceutical business due to the growing number of digestive disorders and the need for effective gastrointestinal therapies. Because of its antacid and anti-diarrheal qualities, bismuth compounds are often utilized in the pharmaceutical industry.
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North America is expected to hold the largest share of the global bismuth market over the forecast period.
North America is expected to hold the largest share of the global bismuth market over the forecast period. Growing technological developments in North America in the fields of medicines, medical devices, and battery systems are expected to drive market growth. Due to the growth of cosmetic operations and the pharmaceutical industry's significant increase in the bismuth market overall, North America will lead this market. The market in the region will grow more quickly due to the increased demand in end-use industries including electronics, healthcare, and transportation.
Asia Pacific is predicted to grow at the fastest pace in the global bismuth market during the projected timeframe. Due to the rising demand for bismuth in the pharmaceutical, electronics, and transportation sectors in the region, it is expected to remain dominant in the market for some time to come. The abrupt switch in key locations from lead-based machine steel to bismuth machine steel as well as the expansion of the cosmetics sector in the region are other factors driving demand in the region. Two further elements propelling market development are urbanization and industrialization. the existence of important bismuth-producing countries like China and Vietnam has led to the global market. In the region, bismuth is highly sought after due to the growth of electronics, pharmaceutical, and cosmetics.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global 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. Major vendors in the global bismuth market include 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.
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Recent Developments
- In March 2023, the world's supply of bismuth is expected to increase with the development of a new mine in Bolivia.
- In May 2022, the Bismuth Institute announced the launch of their newly designed website, which provides information about bismuth and its applications.
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 Analysis
- 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
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