The global Bismuth Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Derivative (Bismuth Nitrate, Bismuth Oxide, Bismuth Oxychloride, Bismuth Subcarbonate, Others), By End-User (Pharmaceuticals, Automotive, Electrical and Electronics, Cosmetics, Others).
Bismuth is a chemical element with unique properties and diverse applications in various industries, including pharmaceuticals, electronics, cosmetics, and metallurgy in 2024. Bismuth is a brittle metal with a silvery-white appearance and low thermal and electrical conductivity. It is valued for its low toxicity and non-reactivity, making it suitable for use in pharmaceutical formulations such as antacids, digestive aids, and dermatological treatments. Bismuth compounds are also used in electronics as semiconductors, soldering alloys, and lead-free solders, replacing toxic lead-based materials. In cosmetics, bismuth oxychloride is used as a pigment in makeup products such as eyeshadows and blushes for its shimmering effect and adherence to the skin. Bismuth is also employed in metallurgical applications such as casting alloys, fusible alloys, and nuclear reactors. With its unique combination of properties and diverse applications, bismuth s to be a valuable element in various industries, contributing to technological advancements, consumer products, and industrial processes.
The market report analyses the leading companies in the industry including 5N Plus, BASF SE, Fortune Minerals, Hunan Shizhuyuan Nonferrous Metals Co. Ltd, Industrias Peñoles, Merck KGaA, Nui Phao Mining Company Ltd, Par Pharmaceutical, VIAVI Solutions Inc, Xianyang Yuehua Bismuth Co. Ltd, and others.
A prominent trend in the bismuth market is the increasing demand in healthcare and pharmaceuticals, driven by the growing utilization of bismuth compounds in medical applications such as gastrointestinal treatments, radiopharmaceuticals, and antibacterial agents. Bismuth's unique properties, including its low toxicity, high atomic weight, and radio-opacity, make it suitable for various medical uses, including treatments for peptic ulcers, gastroesophageal reflux disease (GERD), and Helicobacter pylori infections. This trend is reshaping the market dynamics, with pharmaceutical companies and healthcare providers increasingly relying on bismuth-based compounds for therapeutic and diagnostic purposes, driving market growth and innovation in the medical sector.
The primary driver fueling the growth of the bismuth market is the expansion in electronics and semiconductors, which are major consumers of bismuth alloys and compounds for various applications such as soldering, thermoelectric materials, and semiconductor manufacturing. Bismuth's unique properties, including its low melting point, high electrical conductivity, and high Seebeck coefficient, make it a valuable material for electronics and semiconductor industries, particularly in the development of lead-free solders and thermoelectric devices. As demand for electronic devices continues to rise, driven by advancements in technology and the proliferation of IoT (Internet of Things) devices, the demand for bismuth is expected to increase, driving market growth and innovation in electronic materials.
An emerging opportunity within the bismuth market lies in the exploration of new industrial applications beyond healthcare and electronics. While bismuth is already widely used in these sectors, there is untapped potential in areas such as metallurgy, cosmetics, and renewable energy, where the unique properties of bismuth can offer advantages such as corrosion resistance, catalytic activity, and environmental sustainability. Bismuth's non-toxic nature and abundance make it an attractive alternative to other metals in various industrial processes, including metal finishing, pigments, and photovoltaic materials. By investing in research and development initiatives and collaborating with industry partners, manufacturers of bismuth can unlock opportunities for market expansion, diversification, and revenue growth in emerging industrial sectors, driving innovation and competitiveness in the global bismuth market.
Bismuth Oxide is the largest segment in the Bismuth Market by derivative. The large revenue share is primarily due to its extensive applications across various industries, including electronics, pharmaceuticals, and cosmetics. In the electronics industry, bismuth oxide is a critical component in the production of varistors, capacitors, and other electronic devices due to its high electrical resistivity and dielectric properties. Its role in the pharmaceutical sector is also significant, as it is used in the formulation of various medicines, particularly in treating gastrointestinal disorders. Additionally, bismuth oxide's use in cosmetics, especially in products like nail polishes and eyeshadows, is expanding due to its non-toxic nature and safe profile for skin contact. The compound’s versatility, combined with growing industrial and consumer demands, underpins its position as the largest segment in the bismuth market. The increasing investment in research and development to find new applications for bismuth oxide further drives its market growth, ensuring its leading position remains unchallenged.
The pharmaceuticals segment is the fastest-growing in the Bismuth Market by end-user. This rapid growth is driven by the increasing utilization of bismuth compounds in medical applications, particularly for their antimicrobial and gastrointestinal therapeutic properties. Bismuth-based medications, such as bismuth subsalicylate, are widely used to treat conditions like diarrhea, indigestion, and stomach ulcers. The rising prevalence of gastrointestinal disorders globally is a significant factor propelling the demand for these medications. Additionally, bismuth compounds are being explored for their potential use in new drug formulations and treatments, including targeting bacterial infections resistant to conventional antibiotics. The pharmaceutical industry's continuous investment in research and development to discover innovative uses for bismuth is further accelerating the growth of this segment. Moreover, the growing awareness about the benefits of bismuth-based drugs and their incorporation into various therapeutic protocols are contributing to the segment's robust expansion. The convergence of these factors makes the pharmaceutical segment the most dynamic and rapidly expanding area within the bismuth market.
By Derivative
Bismuth Nitrate
Bismuth Oxide
Bismuth Oxychloride
Bismuth Subcarbonate
Others
By End-User
Pharmaceuticals
Automotive
Electrical and Electronics
Cosmetics
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
5N Plus
BASF SE
Fortune Minerals
Hunan Shizhuyuan Nonferrous Metals Co. Ltd
Industrias Peñoles
Merck KGaA
Nui Phao Mining Company Ltd
Par Pharmaceutical
VIAVI Solutions Inc
Xianyang Yuehua Bismuth Co. Ltd
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Bismuth Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Bismuth Market Size Outlook, $ Million, 2021 to 2032
3.2 Bismuth Market Outlook by Type, $ Million, 2021 to 2032
3.3 Bismuth Market Outlook by Product, $ Million, 2021 to 2032
3.4 Bismuth Market Outlook by Application, $ Million, 2021 to 2032
3.5 Bismuth Market Outlook by Key Countries, $ Million, 2021 to 2032
4 Market Dynamics
4.1 Key Driving Forces of Bismuth Industry
4.2 Key Market Trends in Bismuth Industry
4.3 Potential Opportunities in Bismuth Industry
4.4 Key Challenges in Bismuth Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Bismuth Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Bismuth Market Outlook by Segments
7.1 Bismuth Market Outlook by Segments, $ Million, 2021- 2032
By Derivative
Bismuth Nitrate
Bismuth Oxide
Bismuth Oxychloride
Bismuth Subcarbonate
Others
By End-User
Pharmaceuticals
Automotive
Electrical and Electronics
Cosmetics
Others
8 North America Bismuth Market Analysis and Outlook To 2032
8.1 Introduction to North America Bismuth Markets in 2024
8.2 North America Bismuth Market Size Outlook by Country, 2021-2032
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Bismuth Market size Outlook by Segments, 2021-2032
By Derivative
Bismuth Nitrate
Bismuth Oxide
Bismuth Oxychloride
Bismuth Subcarbonate
Others
By End-User
Pharmaceuticals
Automotive
Electrical and Electronics
Cosmetics
Others
9 Europe Bismuth Market Analysis and Outlook To 2032
9.1 Introduction to Europe Bismuth Markets in 2024
9.2 Europe Bismuth Market Size Outlook by Country, 2021-2032
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Bismuth Market Size Outlook by Segments, 2021-2032
By Derivative
Bismuth Nitrate
Bismuth Oxide
Bismuth Oxychloride
Bismuth Subcarbonate
Others
By End-User
Pharmaceuticals
Automotive
Electrical and Electronics
Cosmetics
Others
10 Asia Pacific Bismuth Market Analysis and Outlook To 2032
10.1 Introduction to Asia Pacific Bismuth Markets in 2024
10.2 Asia Pacific Bismuth Market Size Outlook by Country, 2021-2032
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Bismuth Market size Outlook by Segments, 2021-2032
By Derivative
Bismuth Nitrate
Bismuth Oxide
Bismuth Oxychloride
Bismuth Subcarbonate
Others
By End-User
Pharmaceuticals
Automotive
Electrical and Electronics
Cosmetics
Others
11 South America Bismuth Market Analysis and Outlook To 2032
11.1 Introduction to South America Bismuth Markets in 2024
11.2 South America Bismuth Market Size Outlook by Country, 2021-2032
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Bismuth Market size Outlook by Segments, 2021-2032
By Derivative
Bismuth Nitrate
Bismuth Oxide
Bismuth Oxychloride
Bismuth Subcarbonate
Others
By End-User
Pharmaceuticals
Automotive
Electrical and Electronics
Cosmetics
Others
12 Middle East and Africa Bismuth Market Analysis and Outlook To 2032
12.1 Introduction to Middle East and Africa Bismuth Markets in 2024
12.2 Middle East and Africa Bismuth Market Size Outlook by Country, 2021-2032
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Bismuth Market size Outlook by Segments, 2021-2032
By Derivative
Bismuth Nitrate
Bismuth Oxide
Bismuth Oxychloride
Bismuth Subcarbonate
Others
By End-User
Pharmaceuticals
Automotive
Electrical and Electronics
Cosmetics
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
5N Plus
BASF SE
Fortune Minerals
Hunan Shizhuyuan Nonferrous Metals Co. Ltd
Industrias Peñoles
Merck KGaA
Nui Phao Mining Company Ltd
Par Pharmaceutical
VIAVI Solutions Inc
Xianyang Yuehua Bismuth Co. Ltd
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Derivative
Bismuth Nitrate
Bismuth Oxide
Bismuth Oxychloride
Bismuth Subcarbonate
Others
By End-User
Pharmaceuticals
Automotive
Electrical and Electronics
Cosmetics
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Bismuth Market Size is valued at $276.3 Million in 2024 and is forecast to register a growth rate (CAGR) of 4.3% to reach $387 Million by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
5N Plus, BASF SE, Fortune Minerals, Hunan Shizhuyuan Nonferrous Metals Co. Ltd, Industrias Peñoles, Merck KGaA, Nui Phao Mining Company Ltd, Par Pharmaceutical, VIAVI Solutions Inc, Xianyang Yuehua Bismuth Co. Ltd
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume