Bismuth application areas are diverse but the bulk of the metal is used in metallurgical (metallurgical additives, alloys), pharmaceutical and chemical (incl. pigments and cosmetics) industries. Other uses include electronics, ammunition, ceramics, catalysts, recycling of uranium nuclear fuels, to name only a few.
Bismuth: structure of the global consumption by application, 2015
In many of these applications bismuth consumption increases backed by environmental regulations and safety standards. Though not entirely safe and with a certain degree of harmful impact (like neurotoxic effects or kidney damage symptoms), bismuth is seen as the least toxic heavy metal for humans. As such it is considered a viable alternative to some more toxic counterparts. There is a robust growth in bismuth application instead of traditional tin-lead solders in electronics, food-processing equipment and pipes. In the similar vein, bismuth vanadate pigments actively substitute lead chromate pigments, which are regarded as highly toxic and mutagenic, and a number of companies (e.g. BASF’s facility in Besigheim near Stuttgart) are expanding their capacities manufacturing bismuth vanadate pigments. All this lays solid groundwork for steady development of the global bismuth market in the nearest future. However, China’s restrictions on the exports of various strategic and rare earth metals may act as a factor which, under certain circumstances, can undermine steady supply of the metal to the market and which may cause major bismuth consumers to diversify their feedstock sources. The lack of metal availability is instrumental behind sharp price spikes. In 2014, increased bismuth production was therefore primarily due to a new mine opening in Vietnam in 2013. However, China still dominates both the world’s bismuth supply and reserves, with 55% of mine production, about 80% of refinery output and 65% of world reserves.
More information on the bismuth market performance at various geographical scales is available in the topical market research study “Bismuth: 2016 World Market Review and Forecast”.