BISMUTH OXYCHLORIDE MARKET ANALYSIS

The bismuth oxychloride market was valued at US$ 26.8 Mn in 2022 and is expected to register a CAGR of 5.00%, in terms of revenue over the forecast period (2023-2030), to reach US$ 39.6 Mn by 2030. Key players are focused on the development of cosmetic products that can offer enhanced properties such as better smoothness and whiteness. This in turn is expected to boost demand for bismuth oxychloride. Moreover, key players are also focused on developing hybrid powder technology, in order to offer efficient formulation for cosmetic products providing a number of benefits such as UV-stable pigment technology, good adhesion, and extended wear with a soft satin finish. For instance, BASF offers Chroma-Lite Brown CL4509 cosmetic grade pigment, which is a mixture of mica, BiOCl, yellow iron oxide, and red iron oxide. Such hybrid/composite pigments combine the performance benefits of all ingredients. For instance, mica substrate improves the crystal strength of the formulation. Therefore, the hybrid powder is expected to witness major demand in the bismuth oxychloride market during the forecast period.

Bismuth Oxychloride Market: Growth drivers

Increase in electric vehicles and other body parts

As the prices of petrol and diesel are rising, the demand for electric vehicles is increasing. Countries are trying to reduce carbon emissions. Bismuth oxychloride is widely used in automotive industries for paintings. An increase in electric vehicles and other body parts will boost the growth of bismuth oxychloride in the automotive market. 

Demand for plastic materials in many industrial applications

Bismuth oxychloride is used as a pigment or plastic additive in the production of plastic materials such as plastic sheets, furniture, extruder masses, injection molding, and toys for a smooth surface. It is also used in synthetic fibers, hard wax sealants, translucent plastic molding compounds, and solvent-based and water-soluble paints to give a glossy effect. The demand for plastic materials in many industrial applications and the automotive industry is increasing. This will drive the growth of the bismuth oxychloride market.

Bismuth Oxychloride Market: Market Restraints

Side effects of bismuth oxychloride

Cosmetic companies claim that bismuth oxychloride is natural and better on the skin than talc. But the journal which was published by Auctores Online says that talc is more unadulterated, pure, and natural than bismuth oxychloride. Due to the molecular crystalline shape of bismuth oxychloride, it causes acne flare-ups and skin irritation. After using bismuth oxychloride products many have experienced itching. This can restrain the growth of the bismuth oxychloride market.

Bismuth Oxychloride Market: Market Segmentation

Based on end use industry, cosmetics segment held the largest revenue share of 72% in the bismuth oxychloride market in 2022. This is attributed to significant growth in the cosmetics industry, which is supported by rising awareness and demand for safe or non-toxic cosmetics. For instance, according to The Ministry of Economy, Trade and Industry (METI), Japan, in 2015, the production of cosmetics was 403.08 in million kilograms in Japan and increased to 434.07 million kilograms in 2017.

Figure 1. Global Bismuth Oxychloride Market, By End User 2022

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Bismuth Oxychloride Market: Regional Insights

In 2022, Asia Pacific accounted for the largest revenue share in the global bismuth oxychloride market. Moreover, North America contributed to the second-largest revenue share in the market and recorded a CAGR of 3.7% during the forecast period (2023-2030). The pharmaceutical industry is expected to contribute to the growth of the bismuth oxychloride market in North America over the forecast period. For instance, according to a report ‘The Pharmaceutical Industry and Global Health’ published by The International Federation of Pharmaceutical Manufacturers & Associations, in 2017, the share of the U.S. in the global pharmaceutical industry is expected to increase from 40.3% in 2015 to 41% in 2020. Therefore, the growing pharmaceutical industry in the U.S. is expected to drive the growth of the bismuth oxychloride market in North America.

Figure 2. Global Bismuth Oxychloride Market, By Region 2022

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Bismuth Oxychloride Market: Recent developments

• On July 3, 2020, the Chenzhou Intermediate people's Court ruled to accept Hunan Jinwang Bismuth Industry Co., Ltd. (referred to as "Jinwang Bismuth Industry"), Hunan Xiangyun Fine Chemical Manufacturing Co., Ltd. (referred to as "Xiangyun Chemical"), Hunan Jinwang rare and valuable Pharmaceutical Co., Ltd. (referred to as "rare Pharmaceutical") merger and restructuring, appointed Beijing Deheng Law firm as its manager.
• On April 11, 2020, Researchers improved the light absorption capacity of BiOCl and promoted the separation and transfer of photogenerated charge by doping, creating vacancies, regulating internal electric fields, supporting co-catalysts, constructing composites with semiconductors, and using sensitizers, thereby the photocatalytic performance of BiOCl is subsequently enhanced.

Bismuth Oxychloride Market: Key companies

Major players operating in the bismuth oxychloride market are Geotech International B.V, BASF SE, Satyam Pharma-Chem Pvt. Ltd., Uni-Powder, Zhonglan Industry Co., Ltd., Ava Chemicals Pvt. Ltd., Omkar Speciality Chemicals Ltd., Vital Materials Co., Limited, Hangzhou Rebtech Novel Material Co., Ltd., Nanoshel LLC, and Muby Chemicals.

Definition: Bismuth oxychloride is a synthetically prepared white or nearly white amorphous or finely crystalline powder. Bismuth oxychloride is used as a color additive in various products such as drugs, coatings, printing inks, and automotive paints.