Bismuth Market Consumer Needs, Trends and Drivers Analysis and Forecast to (2016-2024)

The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.

They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.

Global demand for bismuth is expected to grow at a Y-o-Y growth rate of 4.9% by 2016 end. China is a major consumer, producer, and exporter of bismuth and is anticipated to maintain its dominance in the global market in the near future. The country is estimated to account for 27.0% share of overall bismuth sales by the end of 2016. The increasing use of bismuth oxide in growing manufacturing industries is anticipated to drive consumption in the region. The rapid growth of the automobile end-use industry is expected to drive further market growth.

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Increasing environmental regulations regarding lead usage in various end-use industries would drive demand for bismuth and bismuth derived compounds. Stringent regulations and initiatives by leading manufacturers in end-use industries to phase out lead production is expected to spur bismuth market growth. Major paints & coatings manufacturers such as BASF SE and PPG Inc. are actively offering bismuth-based products replacing their lead based portfolio, in order to provide environmentally-friendly product offerings.

The bismuth market in APAC is anticipated to witness higher growth rates due to increasing manufacturing activities in China and India. Demand in Europe is also anticipated to be above average due to stringent lead restricting directives in the region, while demand in North America, Latin America, and MEA is expected to be moderate. Declining lead production due to regulations and declining consumption of lead-acid batteries is anticipated to be a major restricting factor for the global market. The increasing use of bismuth alternatives in pharmaceuticals and alloys is also a major obstacle to market growth.

Hunan Jinwang Bismuth Industry Co. Ltd
Hunan Bismuth 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 Limited
Met-Mex Peñoles, S.A. de C.V.
5N Plus Inc.
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