Bismuth Vanadate Market Research Report 2023 - valuates reports

The global Bismuth Vanadate market was valued at US$ million in 2022 and is anticipated to reach US$ million by 2029, witnessing a CAGR of % during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

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Bismuth Vanadate (molecular formula BiVO4), is an inorganic pigment, which imparts a range of greenish shades or greenish yellow shades. Bismuth vanadate exhibits characteristic properties such as high colour strength, high brightness, and high gloss among others. Bismuth vanadate is a non-hazardous inorganic pigment and is manufactured by dissolving bismuth nitrate with sodium vanadate and sodium molybdate in nitric acid, then by precipitation it produces complex mixture of metals. After calcination, it produces crystalline bismuth vanadate. Bismuth vanadate exhibits similar properties as that of other yellowish pigments such as lead chromate pigment.
Major Trends in Bismuth Vanadate Market
The Bismuth Vanadate market is expected to grow due to its use as a polyvinyl chloride (PVC) resin additive in the rubber and plastics sector as well as its use as a pigment colorant in the paints and coatings industry.

The chemical name for the white powder Bismuth Vanadate is BiVO. It has been used to create ceramic parts, particularly sintered ones that were fired at high temperatures in neutral or oxidizing environments. Additionally, it can be used to make ceramic glazes.

Bismuth Vanadate Market Trends
Due to rising end-use industry demand for high-performance pigments as well as stringent government restrictions on the use of lead chromate pigments in developed nations, the worldwide bismuth vanadate market is expanding at a rapid rate. Lead chromate pigments are effectively replaced by bismuth vanadate.

The bismuth vanadate market is also driven by increased demand from end-use industries like plastic and polymer and paint & coatings. The global bismuth vanadate market is anticipated to rise as consumers' preferences for ecologically friendly pigments increase in favor of sustainable development.

It is anticipated that bismuth vanadate will be used more and more in paints and coatings. The pigment works effectively as an ingredient for creating paint products with outstanding qualities including quick drying times, good leveling abilities, resistance to abrasion or weathering, etc. Due to these qualities, it becomes a crucial component in many industry sectors, including automotive and transportation, building, and building materials, among others.

However, the high price in comparison to other substitute pigments is anticipated to restrain Bismuth Vanadate's market expansion.

Bismuth Vanadate Market Share Analysis
The global market for bismuth vanadate was dominated by North America, and this trend is anticipated to continue throughout the projection period. Due to the growing number of applications in this region, the demand from end-users such as rubber & plastics, paper, cosmetics, and other industries has been rising. The Latin American market has been expanding significantly over the past two years and is predicted to continue expanding in the years to come.

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