[250 Pages Report] The global bismuth oxide market is set to embark on a steady growth trajectory, expanding at a 6.9% value CAGR from 2022 to 2032. By 2022, the industry is expected to be valued at over USD 111 Million, up from USD 107 Million in 2021. By 2032, sales are forecast to reach USD 216.31 Million.
| Report Attributes | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 107 Million |
| Anticipated Market Value (2022) | USD 111 Million |
| Projected Forecast Value (2032) | USD 216.31 Million |
| Growth Rate (2022 to 2032) | 6.9% CAGR |
Bismuth is a pentavalent chemical that resembles chemically antimony and arsenic. Elemental bismuth occurs naturally and is a free element that is 86% as dense as lead. Bismuth is a brittle metal that is silvery-white in color when produced freshly.
Bismuth is one of the most abundantly available diamagnetic elements and thus, has one of the lowest thermal conductivities among other metals. Bismuth oxide is the most important industrial compound manufactured from bismuth. Bismuth oxide has a common starting point that of similar to bismuth chemistry.
Bismuth oxide has few commercial applications however; none of the applications use bismuth oxide on a large scale. Bismuth oxide is used as an ingredient in the pharmaceutical industry. However, the use of bismuth oxide in dental materials is slowly declining.
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Compounds such as bismuth oxychloride have a wide range of applications in the cosmetic industry. Bismuth oxide is used as a pigment in manufacturing paints for eye shadows, nail polishes, and hair sprays. The growing cosmetic industry is expected to boost the overall demand for the bismuth market. Bismuth oxide is widely used in the manufacturing of several types of machinery such as automatic sprinkler systems for fires.
Owing to its low toxicity bismuth oxide is used in the manufacturing of food processing equipment and other copper processing pipes. The growing food industry is expected to drive the overall growth in the demand for the bismuth market. Bismuth oxide is also used in the automobile industry.
Sluggish reaction kinetics on oxygen electrodes at reduced temperatures (<750 °C) remains a major challenge for the technical progress of reversible solid oxide cells (SOCs). Rare earth-stabilized bismuth oxides are recognized to have superior ionic conductivity and fast oxygen surface kinetics.
Despite these beneficial properties, unlike conventional zirconia- or ceria-based materials, stabilized bismuth oxides have not been extensively investigated as oxygen electrode components for reversible SOC purposes.
The Asia Pacific is expected to be the leading manufacturer of bismuth oxide. The presence of large-scale bismuth manufacturers in China is expected to further boost the growth of the market. The growing awareness about the hazardous effect of lead is further expected to augment the overall growth of the market.
Upsurge in consumption of electronic products and the presence of key manufacturers, especially in South Korea, Japan, and China, are foremost factors expected to fuel the demand for bismuth oxide in the region in the future.
Recently released data by the USA Geological Survey shows China exported around 130 tonnes of bismuth to the USA in Q1 of 2021, including 13.7% of the 950 tonnes of total bismuth exports in the period. Thus, growing exports of Bismuth Oxide are estimated to add value to the contribution to the economy of Asia Pacific.
This substance is registered under the REACH Regulation and is manufactured in and/or imported to the European Economic Area, at ≥ 1 000 to < 10 000 tonnes per annum. Owing to their dielectric properties, bismuth oxide is identified as an interesting material and has been used as optical coatings in the region. However, the region observed sluggish growth in the bismuth oxide market, led by Germany with a CAGR of 1.6% in 2022.
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Bismuth oxide finds its application in the biomedical field as an effective radiosensitizer. Moreover, technological innovation in biomedical imaging has been growing in the North American region and thus, in turn, burgeons the demand for bismuth oxide in the region.
According to National Cancer Institute, the USA recorded approximately 1,735,350 new cases of cancer, with 609,640 deaths in the year 2021. The occurrence of such chronic diseases and the necessity for diagnostic imaging are driving the market growth.
Some of the key participants present in the global demand of the Bismuth Oxide market include Hunan Jinwang Bismuth Industrial Co., Ltd, The Shepherd Chemical Company and The Kurt J. Lesker Company, among others.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 6.9% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | End-use industries, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC Countries, South Africa |
| Key Companies Profiled | Hunan Jinwang Bismuth Industrial Co., Ltd; The Shepherd Chemical Company; The Kurt J. Lesker Company |
| Customization | Available Upon Request |
FMI forecasts the bismuth oxide market to expand at a 6.9% CAGR from 2022-2032
Asia Pacific is poised to emerge as the dominant manufacturer of bismuth oxide
Prominent bismuth oxide manufacturers include Hunan Jinwang Bismuth Industrial Co., Ltd, The Shepherd Chemical Company and The Kurt J. Lesker Company among others
| Estimated Market Size (2024E) | USD 4,449.6 million |
|---|---|
| Projected Market Value (2034F) | USD 8,273.5 million |
| Value-based CAGR (2024 to 2034) | 6.4% |
| Base Market Value (2023) | USD 4,363.2 million |
|---|---|
| Projected Market Value (2033) | USD 8,310.7 million |
| Value-based CAGR (2023 to 2033) | 6.6% |
| Current Year Value (2023) | USD 2,629.4 million |
|---|---|
| Expected Forecast Value (2033) | USD 3,929.7 million |
| Projected CAGR (2023 to 2033) | 4.1% |
| Expected Market Value in 2023 | USD 500 million |
|---|---|
| Projected Market Value in 2033 | USD 850 million |
| CAGR (2023 to 2033) | 5.5% |
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Bismuth Oxide Market
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