The Global Bismuth Market Growth Accelerated By Rising Demand For Medical Applications

Bismuth Market

Bismuth is a silvery white metal that possesses properties like high density, low melting point, and is nontoxic. Bismuth alloys are used in advanced solders for electronics and robotics applications. Bismuth oxide is used as a pharmaceutical product or cosmetic. Bismuth subsalicylate, commonly known by its brand name Pepto-Bismol, is an antidiarrheal and antacid medication.

The global bismuth market 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The growing demand for bismuth in medical applications is one of the key trends driving the growth of the bismuth market over the forecast period. Bismuth is increasingly being used in manufacturing gastrointestinal medications due to its non-toxic nature and low allergenicity. It is commonly used in formulations of antacids and antidiarrhoeal medicines. The rising incidence of gastrointestinal disorders globally has augmented the demand for bismuth-based medicines. Furthermore, bismuth oxide is utilized extensively in cosmetic products due to properties like mattifying quality, optical diffusion, and good skin tolerance. The proliferating cosmetic industry will further contribute to the market growth in the coming years.

Segment Analysis

The global Bismuth Market Scope is dominated by the pharmaceuticals segment. Bismuth compounds such as bismuth subsalicylate, bismuth subcitrate, and bismuth subgallate are extensively used in antidiarrheal drugs and gastrointestinal products due to their antibacterial properties. These compounds make up over 60% of the total bismuth consumed globally. The metallurgy segment is another major consumer of bismuth mainly for production of bismuth alloys that have a low melting point and good thermoelectric properties. Bismuth alloys find wide usage as fusible alloys in the automotive and electronics industry.

Key Takeaways

The global bismuth market is expected to witness high growth over the forecast period of 2023 to 2030 on account of growing demand from the pharmaceutical industry. Bismuth is a vital component in antidiarrheal and gastric medicines. The global bismuth market 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 2023-2030.

Regional analysis: North America dominated the global market in 2023 owing to high consumption of pharmaceutical products containing bismuth in the region. However, Asia Pacific is projected to witness the fastest growth owing to rising health awareness, healthcare expenditure and increasing local production of drugs.

Key players analysis : 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. These players are focusing on capacity expansion and new product launches to consolidate their position in the market.

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