Bismuth is widely used as an antidiarrheal and antacid agent in over-the-counter medications to treat symptoms such as diarrhea, nausea, and acid indigestion. Some key bismuth-containing medications include Pepto-Bismol, Rolaids, and Tagamet. Bismuth subsalicylate, the main component of Pepto-Bismol, works by coating the lining of the stomach and intestines, which helps relieve symptoms caused by gastroenteritis, food poisoning, and other gastrointestinal issues. In recent years, there has also been increasing research on potential benefits of bismuth in treating other diseases such as Helicobacter pylori infection and cancer.
The global bismuth market is estimated to be valued at US$ 380.9 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing usage of bismuth in pharmaceutical applications represents a major driver for the bismuth market over the forecast period. The market opportunity for bismuth in gastrointestinal drugs and medications has expanded significantly due to rising prevalence of digestive conditions worldwide. According to the National Institute of Diabetes and Digestive and Kidney Diseases, approximately 64.5 million people in the United States are affected by a digestive disease. Growing geriatric population also contributes to higher risk of conditions like diarrhea and ulcers. Additionally, increasing research into potential anticancer properties of bismuth compounds can further support the market growth in the long term.
Segment Analysis
Bismuth Market is dominated by the Construction Chemicals sub-segment which holds around 30% of the total market share. Bismuth is widely used as an anti-corrosion agent in construction chemicals where it acts as a substitute for lead. Its non-toxic nature and low melting point makes it an ideal replacement for lead in construction applications. The growth of infrastructure and real estate sector is driving demand for construction chemicals where bismuth plays an important role as a key additive.
PEST Analysis
Political: Changes in regulations to limit use of toxic metals like lead is driving demand for less toxic alternatives like bismuth. Economic: Rapid urbanization and infrastructure development projects in emerging economies is boosting the real estate and construction industry which is a key end-use segment for bismuth. Social: Increasing health awareness regarding toxic effects of metals like lead is encouraging use of safer alternatives in various applications. Technological: Advancements in material science is enabling use of bismuth in new applications like alloys and solders which is expanding the market scope.
Key Takeaways
The Global Bismuth Market Size is expected to witness high growth over the forecast period driven by rising construction activity worldwide.
Regional analysis: The Asia Pacific region accounts for around 40% of the global bismuth market led by China which is the largest producer and consumer of bismuth globally. Continuous investment in transportation, energy and building infrastructure is stimulating demand for construction chemicals and alloys where bismuth finds wide application.
Key players operating in the Bismuth Market are The Armortex Group, Inc., Avon Barrier Corporation Ltd., Total Security Solutions (TSS), TSS Bulletproof, NASSAU Industrial Doors Limited, Insulgard Security Products, Protective Structures Ltd., Saab AB, Fenestration Solutions Inc., Blast Structures International Inc., RTS Tactical, J.P. Donovan Construction Inc., Tech-Airport, Strongwell Corporation, Oshkosh Corporation. Key players like The Armortex Group, Inc. and Avon Barrier Corporation Ltd. are focusing on expanding their bismuth product portfolios to target growing end-use industries.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it