Bismuth is an element which resembles to arsenic and antimony. Bismuth is available in oxides and sulphide forms in ores. Bismuth has silvery white color when freshly mined but turns in light pink due to surface oxidation. Bismuth compounds such as oxides, sulfides, bismuthine, bismuthides and halides accounts for more than half the demand for bismuth. Bismuth compounds are used in various end-user industries such as chemicals, personal care, pharmaceuticals, metallurgical additives, bismuth alloys and pigments among others. Bismuth is abundantly available in nature through bismite and bismuthinite ores. Bismuth is a by-product of tungsten and lead production. Countries such as China, Peru, Mexico and Australia were the major producers of bismuth in past few years. As bismuth is less toxic than other heavy metals its used as replacement for lead and lead compounds in various applications.
The market for bismuth was mainly driven by chemical industry. Huge demand for bismuth from personal care, pharmaceuticals and pigments has been the major factor for the growth of bismuth in past few years. In pharmaceuticals, bismuth is used in manufacturing of tablets and ointments which are used to cure ulcers and infections. In personal care, bismuth is used in cosmetic products such as eye shadows, nail polishes and creams among others. In metal processing, bismuth is used as replacement to lead compounds in many of the applications. In addition, bismuth is used as metal additives in galvanizing and casting processes. Moreover, bismuth is used in specialty applications such as solders, high precision castings and valves used in potable water systems.
Other compounds of bismuth are used in end-user industries such as electrical & electronics, pigments in paints & coatings and catalyst in chemical process. Bismuth compounds are also used as an ingredient in lubricating greases. Increasing demand for bismuth to replace lead compounds in applications and rising demand of bismuth compound in high temperature superconductor is likely to provide better opportunity for the global bismuth market in years to come. In spite of so many applications, environmental and health regulations associated with bismuth are anticipated to hider the growth of the market in next few years.
In terms of demand, North America was the leading region in bismuth market in 2013. Increasing demand from end-users such as pharmaceutical and personal care has been driving the market for bismuth in this region in past few years. U.S. had the highest demand for bismuth in this region due to huge demand from chemicals and metal processing industry. The demand in Canada and Mexico is likely to grow. Companies such as Fortune Mineral Ltd., has started mining activities in Ontario, Canada thus helping to meet the demand for various regions. Europe had the second-largest demand for bismuth. Countries such as Spain, Germany, and the UK had the highest demand for bismuth due to huge demand from variety of applications. Asia Pacific is expected to be the fastest growing markets for bismuth due to increasing demand from metal processing, personal care and pharmaceutical industry in this region. The market for bismuth in Asia Pacific was led by China. Other Asian countries such as India and Japan are likely to provide better opportunity for bismuth market. Rest of the World market is anticipated to show positive outlook for the bismuth market in near future.
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Some of the key manufacturers in the bismuth market are Chenzhou Bismuth Group, Hunan Bismuth Industry Co., Sidech S.A., and Fortune Minerals, Ltd., among others.
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Key geographies evaluated in this report are:
- North America
- France, Germany, Italy, Spain, and the UK
- Eastern Europe
- Latin America
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Key features of this report
- Drivers, restraints, and challenges shaping the Bismuth market dynamics
- Latest innovations and key events in the industry
- Analysis of business strategies of the top players
- Bismuth market estimates and forecasts(2015 -2021)
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