Pune, India -- (SBWIRE) -- 05/11/2018 -- Bismuth Market – Overview
Bismuth exhibit superior properties and are predominantly utilized in number of end use application such as automotive, chemical industry, cosmetics, construction industry, pharmaceutical, and others. Bismuth Market is predicted to witness modest growth on account of their broad range of application usage specifically in pharmaceutical and automotive. On the basis of the application segment, construction and automotive together accounted to lead the market share followed by pharmaceuticals owing to growing per capita disposable income combined with increasing awareness coupled with expanding medical & healthcare sector in developed and emerging countries across the globe. Furthermore, rising middle class population along with growing consumption of personal care products and cosmetics has raised the bismuth based products which is likely to propel the growth of the market over the assessment year.
Geographically, Asia Pacific accounted for the leading market share for Bismuth in 2016, followed by Europe and North America. The North American bismuth market is predicted to witness above average growth with a constant CAGR over the estimated period due to healthy growth of personal care and pharmaceutical sector in this region. In North America, the market is further classified into Canada and the U.S., among them the U.S. is anticipated to hold for more than 75% of the total regional market share of Bismuth due to presence of prominent manufacturers in this region. Asia Pacific is expected to witness significant growth over the assessment period in bismuth market during 2017 to 2023.
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The demand for bismuth is predicted to fuel in numerous countries of Asia Pacific such as Singapore, Australia, South Korea India, Malaysia, Thailand, the Philippines, Japan, Taiwan, and China due to growing population coupled with shifting of manufacturing facilities for most of the prominent market players in this region. In Europe, Bismuth Market is estimated to register moderate growth due to shifting consumer preference towards the bismuth based personal care products along with the strong presence of cosmetics manufacturers specifically in Spain, Italy, U.K., France, Hungary, Belgium, Germany, and Russia. Furthermore, numerous countries of Latin America and the Middle East & Africa are estimated to witness healthy growth in bismuth due to increasing per capita disposable income coupled with sales of personal care products specifically in Mexico and Brazil combined with strong consumer base for various cosmetics items specifically in Qatar, Saudi Arabia, Kuwait, and the UAE.
Industry/ Innovation/ Related News:
September 2016- Dominion Color Corporation, a leading supplier of color pigments and manufacturer for plastics, ink, and coatings across the globe announced to launch high performance pigment bismuth vanadate orange named as DCC Orange ORS (PO.86). With this product launch the company improves its product portfolio and strengthen its position among the bismuth manufacturers.
November 2016- Heubach GmbH (Germany), announced to expand its bismuth vanadate production capacities at their Langelsheim plant in Germany. The plant is expected to start operation in 2017 with the aim to meet the increasing demand for high performance pigments across the globe.
November 2015- BASF SE announced to raise their production capacities of bismuth vanadate pigments at its production site in Besigheim, Germany. The capacity expansion is estimated to complete by the year 2017. This strategic move is estimated to meet the increasing demand for bismuth vanadate across the globe.
Competitive Landscape
The Bismuth Report has analysed the level of competition among the major manufacturers as well as sector growth and market scenario. The Global Bismuth Market comprised of a large number of suppliers operating in the market which comprises large scale and medium scale manufacturers. The noticeable manufacturers of bismuth and medium level producers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as small level and medium level suppliers belongs to this region specifically from Taiwan, Singapore, China, Malaysia, Thailand, India, Bangladesh, South Korea, the Philippines, Australia, Indonesia, and Japan. On the other hand, the major manufacturers of Bismuth are following numerous strategic plans to enhance their product portfolio by set up research and development centres across the numerous locations across the globe, joint ventures, product launches, strategic acquisition and mergers, and exclusive agreements. Some of the prominent players in this market are increasing their production capacity of Bismuth to meet the rising demand for Bismuth worldwide.
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