Global Bismuth Market Is Projected to Reach Around Us$ 500 Million by the End of 2027, in Terms of Revenue, Growing at Cagr of 6.2% During the Forecast Period (2019 to 2027)

The Global Bismuth Market Is Projected To Reach Around Us$ 500 Million By The End Of 2027, In Terms Of Revenue, Growing At Cagr Of 6.2% During The Forecast Period (2019 To 2027).

Bismuth is a brittle and white crystalline compound with slight pink color and is widely used across alloys, fire extinguishers, cosmetics, and ammunition. It has a low melting point which makes them ideal for manufacturing alloys as they can be used to mold in any shapes. Pharmaceuticals, cosmetics, industrial pigments, metallurgical additives, and fusible alloys are some of the major application of bismuth. It is also used in the chemicals, metallurgical, cosmetics, and paints & coatings, and electronics as it is least toxic heavy metals. Commercially it is available in the form of pellets, needle, ingots, and powder. Moreover, it can be used in place of leads across various range of applications.

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Drivers

Growing application of bismuth from the automotive industry in rust protection coatings, pearlescent coating, brake linings, and clutch pads are expected to foster the market growth of bismuth. According to the Coherent Market Insights, the global automotive market is currently growing at a 4-5% growth rate. The global automotive production was estimated to be approximately 80 Million units in 2015, and is projected to cross 100 Million units by 2017. Therefore, increasing automotive sales around the globe are anticipated to fuel the demand for bismuth, thus accelerating market growth.

Market Opportunities

Growing usage of bismuth in the battery system is expected to offer lucrative growth opportunities over the forecast period. For instance, in January 2018, a team at University of Kentucky have patented a liquid metal battery using tin and bismuth electrodes, with molten zinc chloride, for grid-scale energy storage. Moreover, LMB batteries have the ability to support small-scale power grids linked to wind and solar power particularly. They are made up of relatively simply from commodity metals and so don’t rely on economies of scale to reduce costs.

Market Trends

Growing usage of bismuth in advanced electronic products as it is highly diamagnetic naturally occurring material with a low melting point is gaining traction in the market. Bismuth is broadly used in advanced electronic products such as wearable technology and foldable computer screens. Bismuth ferrite nanoparticles have emerged as a promising material in such applications. Therefore, growing usage of bismuth products in the manufacturing of the advanced electronic product is propelling the market growth of bismuth.

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Competitive Section

Key players operating in the global bismuth market are Hunan Jinwang Bismuth Industry Co. Ltd., Hunan Shizhuyuan Nonferrous Metals Co., Ltd., Hunan Huaxin Rare & Precious Metals Technologies Co., Ltd., Hunan YuTeng Nonferrous Metals Co., Ltd., Nui Phao Mining Company Ltd., Met-Mex Peñoles, S.A. de C.V., and 5N Plus Inc.