Global Bismuth Oxychloride Market to Reach US$ 35.0 Mn by 2027 - Coherent Market Insights

SEATTLE, Aug. 29, 2019 /PRNewswire/ -- The global bismuth oxychloride market was valued at US$ 24.6 Mn in 2018, and is projected to exhibit a CAGR of 4.1% over the forecast period (2019–2027), in terms of revenue.

Key Trends and Analysis of the Global Bismuth Oxychloride Market:

Global bismuth oxychloride market is expected to witness significant growth over the forecast period. The market is predicted to grow significantly over the forecast period, attributing to growth of end-use industries along with increasing applications of bismuth oxychloride in these industries such as cosmetics, pharmaceutical, and automotive.

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Bismuth oxychloride finds its applications in drugs, printing inks, coatings, and automotive paints. The U.S. Food and Drug Administration (FDA) has listed bismuth oxychloride as a color additive, and it is also exempted from 'batch certification for public health' (21 CFR Part 73-C). According to specific requirements for its use as color additive - Code of Federal Regulations (21CFR73.1162) of the U.S. FDA, bismuth oxychloride is permitted to be used to color externally applied drugs, including those intended for use in the area of the eye.

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Therefore, bismuth oxychloride is widely used in cosmetics and pharmaceutical industries, and significant growth of end-use industries worldwide is expected to fuel growth of global bismuth oxychloride market over the forecast period. For instance, according to India Brand Equity Foundation (IBEF) report, published in January 2018, the beauty, cosmetics, and grooming industry in India accounted for US$ 6.5 billion in 2017, and is expected to reach US$ 20 billion by 2025.

However, harmful health effects and stringent regulation associated with the usage of bismuth oxychloride is predicted to adversely impact growth of global bismuth oxychloride market in the near future

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Key Market Takeaways:

• The global bismuth oxychloride market is expected to exhibit a CAGR of 4.1% during the forecast period in terms of revenue. The global bismuth oxychloride market is expected witness growth, owing to increasing demand for bismuth oxychloride from various end-use industries.
• Based on product type, cosmetic & pharmaceutical grade segment held the largest revenue share in 2018. However, industrial grade segment is predicted to record fastest CGAR of 4.5% during 2019-2027, on account of growth of end-use industries worldwide. For instance, according to International Organization of Motor Vehicle Manufacturers (OICA), motor vehicle production in China increased to 29,015,434 units in 2017 (quarter 4) from 28,118,794 units in 2016 (quarter 4). Therefore, growth of automotive industry is expected to fuel demand for industrial grade BiOCl, thereby boosting the global bismuth oxychloride market growth.
• Among regions, Asia Pacific held the dominant share in 2018 and accounted for the 34.4% in the global bismuth oxychloride market. BiOCl is primarily used in cosmetics & personal care products. According to 'Personal Care & Cosmetics Products Country Guide: Australia', published by the U.S. Department of Commerce in 2016, the average annual expenditure of individual on cosmetics was US$ 146 in Australia and US$ 223 in Japan, which is higher as compared to US$ 139 in the U.S. Therefore, increasing expenditure on beauty & personal care is expected to increase demand for cosmetics & personal care products, thereby driving growth of the bismuth oxychloride market in Asia Pacific.
• Key companies operating in bismuth oxychloride market include, 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

Report Segmentation:

• Global Bismuth Oxychloride Market, By Product Type:
• Industrial Grade
• Cosmetics & Pharmaceutical Grade
• Global Bismuth Oxychloride Market, By End-use Industry:
• Cosmetics
• Automotive
• Pharmaceutical
• Others
• Global Bismuth Oxychloride Market, By Region:
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa
• Middle East
• Africa
• Company Profiles

Contact Us:

Mr. Raj Shah
Coherent Market Insights
1001 4th Ave. 
#3200 
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]

SOURCE Coherent Market Insights

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