Bismuth Oxychloride Market to Surpass US$ 39.6 Mn by 2030
The Bismuth Oxychloride Market was valued at US$ 26.8 Mn in 2022, according to Bismuth oxychloride market Report, by Product Type (Industrial Grade and Cosmetics & Pharmaceutical Grade), by End Use Industry (Cosmetics, Automotive, Pharmaceutical, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa). The bismuth oxychloride market is projected to reach US$ 39.6 Mn by 2030, exhibiting a CAGR of 5.00% during the forecast period (2023-2030). Factors such as the growing use of bismuth oxychloride in the cosmetics industry coupled with its properties such as silky and smooth texture in cosmetics are expected to boost the demand for bismuth oxychloride over the forecast period. Bismuth oxychloride is primarily used in cosmetic formulations and personal care products including skin care, nail products, cleansing products, fragrances, and hair coloring products. Bismuth oxychloride is used as a filler in cosmetic products as it provides a smooth and silky texture and a semi-transparent mild luster to the skin. It is used by ‘makeup brands’ where bismuth oxychloride is used in product formulations as it reflects light and provides a glowing and high shine effect. Moreover, bismuth oxychloride can be tinted with other pigments to create different shades. Therefore, it has extensive application as a filler in mineral makeup products such as face powders, foundations, lipsticks, eye shadows, and mascara among others. However, the U.S. FDA has approved the use of bismuth oxychloride in cosmetics and drugs, though exposure to high concentrations of bismuth oxychloride in the long term can cause adverse effects on the skin such as irritation and inflammation. Material Safety Data Sheets (MSDS) provided by bismuth oxychloride manufacturers also state that it can irritate the skin and eyes. As a result, consumers are expected to shift their preference to products that do not contain bismuth oxychloride, which is likely to act as a major restrain in the growth of the global bismuth oxychloride market.
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Browse 48 market data tables* and 33 figures* on "Bismuth Oxychloride Market” - Global forecast to 2030.
Key Takeaways of the Market:
- Based on product type, cosmetics & pharmaceutical grade segment dominated the bismuth oxychloride market and contributed 80% of the revenue share in 2022. The cosmetic industry is expanding rapidly worldwide. According to the 2016 annual report of Cosmetics Europe, the global cosmetics and personal care products industry accounted for US$ 295.05 Bn in 2016, out of which Europe accounted for US$ 87.38 Bn, the U.S. accounted for US$ 72.63 Bn, and China accounted for US$ 46.53 Bn. Demand for bismuth oxychloride from the cosmetic industry is expected to increase, owing to its good filling properties, which in turn is expected to boost the growth of the global bismuth oxychloride market.
- Asia Pacific accounted for the largest revenue share of 33% in the bismuth oxychloride market in 2018, and is projected to maintain its dominance over the forecast period. This is owing to increasing disposable income that is expected to result in the increasing expenditure by customers on personal care and cosmetics products in the region. According to ‘Personal Care & Cosmetics Products Country Guide: Australia’, published by the U.S. Department of Commerce in 2016, Australia’s total personal care and cosmetics market was estimated at US$ 3.4 billion in 2015.This factor is expected to boost the demand for bismuth oxychloride in the region.
- 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
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