Overview:
Bismuth is used mainly in alloys, with pharmaceutical and
chemical uses. It is also an ingredient in some types of over-the-counter
stomach medicines. About two-thirds of the bismuth produced in the United
States is made into drugs and other pharmaceutical compounds, including bismuth
subsalicylate. This compound is the active ingredient in many over-the-counter
stomach remedies and is a useful substitute for lead as it is much less toxic
to humans. Other bismuth compounds are found in paints and ceramics, as well as
in fireworks. Metallic bismuth is found in some ores, whereas it is typically
obtained as the byproduct of smelting lead and copper ores. The element is a
white metal that has a silvery appearance when it is freshly mined. It quickly
oxidizes to a pink tinge owing to its reaction with air.
According to Coherent Market Insights,
the global Bismuth
Market is projected to reach around US$ 500
million by the end of 2027, in terms of revenue, growing at a CAGR of 6.2% during
the forecast period (2019 to 2027).
Market
Dynamics:
Rising business
expansion by key players is estimated to augment the growth of the global Bismuth Market during
the forecast period. For instance, Endo International plc declared
that their operating company Par Pharmaceutical, Inc., as begun shipping the
first generic version of Allergan's Pylera®, in the United States, in March
2023. Moreover, the easy availability of
cost-effective alternatives is anticipated to restrain the growth of the global market during the forecast period.
Impact
of COVID-19:
Strict lockdowns were imposed in
many countries during the pandemic. The financial status of many businesses was
affected owing to these restrictions. Several nations were suffering from an
economic burden. The growth of many businesses, manufacturing, and development of
products, and the supply chains were disrupted. The automotive, semiconductors,
electronics, and many other sectors were temporarily shut down. This resulted in
decreasing demand for Bismuth. Thus, the pandemic
had a negative impact on the growth of the global bismuth market. However, many
nations have now relaxed these restrictions, so the market is estimated to
witness growth. The global Aluminum
Alloys Market was valued at US$ 133269.2 Million in 2021 in terms of
revenue, exhibiting a CAGR of 4.67 % during the forecast period (2022 to 2030).
Key Takeaways:
For instance, Viavi Solutions and OFS declared
their collaboration on a test and measurement-focused amplifier in March 2022.
This amplifier can produce sufficient volumes for meeting the growing demand
for 400GbE and 800GbE test applications globally. Asia-Pacific is
anticipated to witness high growth in the global Bismuth Market during
the forecast period, due to growing pharmaceuticals, automotive, and
electronic industries.
Key
players active in the global Bismuth Market are Merck KGaA, 5N Plus, Industrias Peñoles, BASF SE, and
Xianyang Yuehua Bismuth Co., Ltd.
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