Bismuth Nitrate: Introduction
- Bismuth nitrate is a salt that contains the heavy metal bismuth. Bismuth nitrate is used for preventing kidney damage caused by cancer drugs. It is also used for preventing bone marrow damage caused by radiation and digestive tract infection that can lead to ulcers.
- Bismuth salts are also added to cosmetics, batteries, paints, and pigment plastics during the manufacturing process. Bismuth supplements often contain bismuth as bismuth subsalicylate, bismuth subcitrate, bismuth subgallate, and other salt forms.
- In December 2019, the U.S. Food and Drug Administration added bismuth nitrate to the Dietary Supplement Ingredient Advisory List
Key Drivers and Restraints of Bismuth Nitrate Market
- Significant growth in the pharmaceutical sector across the globe is the key factor driving the global bismuth nitrate market. Rise in demand for health supplements and cosmetics is also augmenting the market.
- Increase in usage of bismuth nitrate as a pigment in paints and cosmetics is also boosting the bismuth nitrate market
- Fluctuation in raw material prices is expected to challenge the global bismuth nitrate market. Thus, the global bismuth nitrate market is likely to be adversely affected in the long run.
Bismuth Nitrate: Grade Segment
- In terms of grade, the bismuth nitrate market can be segmented into pharmaceutical grade and industrial grade
- Major applications of pharmaceutical grade bismuth nitrate include usage of salts of bismuth nitrate in prevention of damage often occurring from cancer medications. Other uses of pharmaceutical grade bismuth nitrate primarily comprise health supplement drinks and salts used against digestive tract infections.
- Industrial grade bismuth nitrate is mainly used as a pigment in various industries including paints & coatings, cosmetics, and batteries
- Bismuth nitrate solution is primarily used as pigment in the paints & coatings industry. Eastern countries use bismuth nitrate in the manufacture of cosmetics; however, most of the Asian countries, including China, use bismuth nitrate in the manufacture of batteries.
- Demand for bismuth nitrate is likely to rise during the forecast period due to the rise in manufacture of EV batteries across the world
COVID-19 Impact on Bismuth Nitrate Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the bismuth nitrate market. Supply of bismuth nitrate is expected to be on track in the near future, due to the easing of restrictions in many countries across the globe.
Asia Pacific to Dominate Global Bismuth Nitrate Market
- In terms of region, the bismuth nitrate market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific leads the global bismuth nitrate market. Significant rise in the manufacture of cosmetic products in developed economies is the key factor driving the bismuth nitrate market in the region.
- Paint & coatings and cosmetic sectors in Asia Pacific have been attracting significant investments from across the globe due to the growth in the industrial sector, large population base, and availability of labor at a low cost in the region. Thus, Asia Pacific is one of the highly lucrative regions of the global bismuth nitrate market.
- China is considered the largest regional countries of the bismuth nitrate market in Asia Pacific. Significant growth in the construction industry is augmenting the demand for paints. This is the major factor driving the demand for bismuth nitrate in China. Rapid industrialization and growing preference for bismuth nitrate over conventional products are likely to accelerate the demand for bismuth nitrate in the country.
Key Manufacturers Operating in Bismuth Nitrate Market
The bismuth nitrate market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the bismuth nitrate market include:
- Avantor Inc.
- Umicore Group
- Strem Chemicals Inc.
- Henan Coreychem Co. Ltd.
- Orrion Chemicals Bischem
- American Elements
- Thermo Fischer Scientific Inc.
- Belmont Metals Inc.
- GFS Chemicals Inc.
- Merck KGaA
- Hunan Province Guiyang Yinxing Nonferrous Smelting
- Industrias Peñoles S.A.B. de C.V.
- 5N Plus Inc.
- Uma Industries
- The Shepherd Chemical Company
Bismuth Nitrate Market: Research Scope
Bismuth Nitrate Market, by Grade
- Pharmaceutical Grade
- Industrial Grade
Bismuth Nitrate Market, by End-use
Global Bismuth Nitrate Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.