Global Bismuth Market Accrued $210 Million in 2017
According to a new report published by Progressive Markets, titled, Bismuth Market by Application: Global Opportunity Analysis and Industry Forecast, 20122017, the global bismuth market was valued at $210 million in 2017.
Bismuth is a white, crystalline, brittle metal with a prominent characteristic of diamagnetism, which is the strongest among all other metals. Bismite and bismuthimite are the two major ores of bismuth. Bismuth is majorly found in Mexico, Japan, Bolivia, Peru, and Canada. The applications of bismuth include use of bismuth alloy for fire detection & suppression system safety device as well as in solder, cosmetics, medicines, and medical procedures. In the recent years, replacement of lead by bismuth metal due to the formers toxicity fueled the growth of the global bismuth market.
Based on application, the bismuth market is segmented into metallurgical additives, pharmaceuticals & chemicals, fusible alloys, solders & ammo, and others. Among these, metallurgical additives segment accounted for four-fifths of total market share in 2012, and reached three-sevenths share in 2017. This is attributed to the fact that bismuth is widely used as a metallurgical additive in manufacturing aluminum, iron, and steel.
Key Findings of the Bismuth Market:
- In metallurgical application, bismuth consumption accounted for three-sevenths share in 2017.
- The bismuth consumption in pharmaceuticals & chemicals applications accounted for one-third share in 2017.
- The bismuth consumption in fusible alloys, solders, & ammo application accounted for one-fourth share in 2017.
The key players operating in the global bismuth market include 5N Plus, Toho Zinc, Korea Zinc, Doe Run Peru, Masan Resources, Hunan Jinwang, Zhuzhou Smelter, Zhuzhou Keneng, Vital Materials, Shanxi Taigu Shengde, Hunan Shizhuyuan, Chenzhou Xiongfeng, and Guixi Grand Sanyuan.
The other players include JXTC, Jingui Yinye, Chihong Zn&Ge, Henan Yuguang, Yunnan Tin, China-Tin, Hunan Jintai, Omkar Specialty Chemicals Ltd., Xianyang Yuehua Industrial Co., Ltd., Uma Industries, China Nonferrous Metals Jiangxi Import & Export Corporation, Jiangxi Copper Corporation Ltd., Shenzhen Chinary Co., Ltd., Western Minmetals (SC) Corporation, Fortune Minerals Limited, Cuinmet International Inc., and Belmont Metals Inc.
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