Bismuth Market

More documents

Recommendations

Info

Global Bismuth Market, 2016 - 2024 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. Use For sample: Thinking about report: Please observe the beneath the hyperlinks to satisfy your necessities; Request for the Report sample: http://www.persistencemarketresearch.com/samples/4398 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., and Nui Phao Mining Company Limited are some of the top producers of bismuth, with a cumulative annual production capacity of 11,000 metric tons. Use For to: Request TOC (desk of content material), Figures and Tables of the report: http://www.persistencemarketresearch.com/market-research/bismuth-market/toc PMR Long-term Outlook on Global Bismuth Market: The global bismuth market is expected to reach US$ 400.0 Mn expanding at a CAGR of 6.7% during the forecast period (2016–2024). Persistence Market Research 2
Global Bismuth Market, 2016 - 2024 Asia Pacific is anticipated to be the largest market for bismuth, with a market share of 46% in overall sales by the end of 2024. Market Bytes: Bismuth, a least toxic heavy metal resembles with lead in many of its characteristics. It is the most diamagnetic material known, which is found naturally. This white crystalline metal finds applications in the diverse set of industries. It is found in nature in the form of bismite, bismuthinite, or bismutite minerals. However, more commonly produced as a refining by product of lead. Pellets, powder, needle, ingots forms of bismuth are used for commercial applications across the industries. Pharmaceutical is a prominent application of bismuth, where it is used as an indigestion remedy under the brand name Pepto- Bismol. Additionally, bismuth also finds application in cosmetics, industrial pigments, metallurgical additives, and fusible alloys. Most of the bismuth applications use bismuth in small quantities. Moreover, end user chemical industries namely, cosmetics, pharmaceuticals, and industrial pigments use bismuth compounds which are derived from bismuth. Bismuth oxides, nitrates, bismuth salicylate, bismuth oxychloride are prominent derivatives of bismuth metals. Other bismuth derivatives include bismuth vanadate, bismuth sulphides, and bismuth acetate. Bismuth oxides and bismuth nitrates are the most protruding derivatives and are generally used as a source of bismuth to produce various high purity bismuth compounds. Global bismuth market is estimated reach around US$ 225 Mn in 2016 and is projected to expand at a moderate single-digit CAGR in terms of value during the forecast period, 2016-2024. Bismuth having resembling characteristics with lead and having least toxic effects on human health is anticipated to replace lead in numerous applications. Bismuth market growth is estimated to be driven by increasing government regulations to restrict the use of lead in various end-use industries namely, paints & coatings, alloys, and electronics. The renovation, repair, and painting (RPR) programme by Environmental Protection Agency and REACH regulations are instances of such restrictions by governments in North America and Europe. Major end-use manufacturers such as BASF SE and PPG Inc. are offering bismuth-based products as an alternative for lead products, in order to provide environmentally friendly offerings. POSCO which has a production capacity of 1.5 Mn metric tons of leadbased free machining steel is set to replace it by bismuth-based free machining steel. The growing automotive industry which includes the application of bismuth in rust free coatings, pearlescent coatings, brake linings, and clutch pads is also anticipated to provide traction for the increasing bismuth market demand over the forecast period. Moreover, the increasing base metal tungsten production is anticipated to increase bismuth supply in the market. The production of tungsten in Persistence Market Research 3
Page 1: Global Bismuth Market, 2016 - 2024
Page 5: Global Bismuth Market, 2016 - 2024

Bismuth Market

Create successful ePaper yourself

Delete template?

Save as template?