by Bismuth metal finds extensive applications in cosmetic products, owing to its skin-friendly properties, thereby driving the global bismuth market. Bismuth is primarily used in producing cosmetic products such as lipsticks, eyeliners, foundation, and eye shadows. It imparts a brilliant appearance to the cosmetic products. Additionally, Bismuth is considered safe for use in cosmetic applications by regulatory authorities such as FDA. With growing demand for cosmetics from developing economies and increasing preference for natural and herbal cosmetic products, use of bismuth in cosmetics has been rising steadily.
Bismuth is also extensively used in several medical applications such as antacids, radioactive isotope tracer for disease diagnosis, antiulcer and anti-inflammatory drugs. It is broadly used in treating digestive system disorders owing to its reduced toxicity in humans. Rising prevalence of digestive issues and growing medical applications will fuel the demand for bismuth over the forecast period.
The global bismuth market size is estimated to be valued at US$ 380.9 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030.
Market key trends:
One of the key trends in the bismuth market is increasing production of pharmaceutical formulations containing bismuth. Pharmaceutical manufacturers are increasingly using bismuth subsalicylate in the formulations of various antacid and anti-diarrheal medications due to its efficacy. It helps in relieving symptoms associated with indigestion and diarrhea. Additionally, bismuth subcitrate potassium is also used in formulations meant for treating Helicobacter pylori infections. Growing demand for such pharmaceutical drugs will propel the demand for bismuth in the pharmaceutical industry. Secondly, increasing applications of bismuth alloys in firing caps and primers used in the manufacture of ammunition will also support the market growth over the forecast period. Bismuth alloys impart moisture resistance to firing caps and primers used for small arms ammunition.
Porter’s Analysis
Threat of new entrants: The bismuth market requires substantial capital investment to process raw materials and establish manufacturing facilities deterring new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and fragmented nature of the market with a presence of several regional and international vendors.
Bargaining power of suppliers: A significant number of suppliers are present globally giving buyers alternatives to source bismuth lowering suppliers’ bargaining power.
Threat of new substitutes: Alternatives like lead and tin are used for some applications posing a moderate threat from substitutes.
Competitive rivalry: The market has numerous international and regional vendors competing on pricing and product differentiation leading to high competitive rivalry.
Key Takeaways
The global Bismuth Market Growth is expected to witness high. The global bismuth market size is estimated to be valued at US$ 380.9 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030.
Regional analysis: North America and Europe account for over 60% share owing to the large pharmaceutical industry. Asia Pacific is emerging as a major consumer with growing usage of bismuth oxychloride in cosmetics and fragrances especially in China and South Korea.
Key players: Key players operating in the bismuth market are A Guangdong Guanhao High-Tech, Hansol Paper Co., Ltd., Sappi Group, Neenah Coldenhove, Ahlstrom-MunksjÃ, The Felix Schoeller Group, Beaver Paper & Graphic Media Inc., Jiangyin Allnice Digital Technology, Seiko Epson Corporation, B.N Papeis. A Guangdong Guanhao High-Tech and Hansol Paper Co., Ltd., are the largest bismuth producers globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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