Global Bismuth Market: Overview
The global bismuth market is anticipated to record a moderate rate of growth over the forecast period of 2019 to 2027, as per Transparency Market Research. Known for its superior traits such as electrical resistance, low thermal properties, and good diamagnetic ability, bismuth will witness an increase in demand and that will lead to more growth opportunities in the market landscape. Players operating in this domain will leave no stone unturned to make the most of these over the period. And, the hustle would pave way for further growth in the market. Additionally, it is worth noting here that growth in automobile, cosmetics, and pharmaceutical industries will help in propelling notable growth in the global bismuth market owing to the industries using bismuth in a major way.
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Global Bismuth Market: Competitive Landscape
The global bismuth market is a landscape experiencing multiple notable developments, owing to players taking on a proactive growth strategy. It is significant to note here that the market is fragmented and quite competitive.
Top players in the global bismuth market are:
- 5N Plus(Canada)
- Omkar Speciality Chemicals Ltd. (India)
- Merck KGaA (Germany)
- Hunan Jinwang Bismuth Industry Co.
- Ltd (Hong Kong)
- Peñoles (Mexico)
- Nui Phao Mining Joint Venture Co.Ltd (Vietnam)
- Fortune Minerals Ltd (Canada)
- Xianyang Jump Hua Bismuth Industry Co., LTD (China)
- Zhuzhou Keneng New Material Co., Ltd.(China)
- Western Minmetals (SC) Corporation (China)
- SHENZHEN CHINARY CO., LTD (China)
A large number of players in the global bismuth market are actively involved in the endeavor to consolidate market position. As a result, a huge number of strategies are seen opted for by market players. These include both organic as well as organic type of growth measures. Some of the most notable strategies that are noted in the global bismuth market landscape are mergers and acquisitions and product development. Research and development holds key to higher share in the market.
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Global Bismuth Market: Key trends and driver
Multiple trends and drivers of growth are lining up the global bismuth market landscape, driving it on to a higher growth trajectory. Top factors of growth that are keeping the market buoyant over the forecast period are:
- Increase in demand for cosmetics is leading to a higher demand for bismuth. It is extensively used to give products a pearlescent appearance. Besides, being heavier than talc, it is also used in makeup, particularly in powdered products.
- Social media is a major influence driving the global bismuth market forward by creating a higher standard of beauty as a new normal. This leads people to opt for cosmetics and make-up products, adding notably to growth in the market. It is significant to note here that some of the makeup and beauty influencers have a massive following.
Global Bismuth Market: Regional Analysis
Over the forecast period, the global bismuth market will witness Asia Pacific (APAC) region top the charts owing to rapid urbanization and industrialization. Besides, a robust economic growth is marking a number of nations in the region. This is set to propel the regional growth curve on a higher trajectory. It is significant to note here that over this period, the region will chart a high growth rate, compounded annually. Growth in automotive and cosmetics industry would be major growth propellers. Other notable regions n the market would be North America and Europe where use in pharmaceuticals and cosmetics would contribute massively to growth of these regions.
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