Factors such as the increase in the application of bismuth nitrate over other bismuth derivates, rapid growth of the pharmaceutical sector, and expansion of end-use industries in emerging economies are expected to drive the bismuth nitrate market at a CAGR of 5.1% during the forecast period (2020–2030). According to P&S Intelligence, the market was valued at $190.6 million in 2019, and it is expected to reach $287.7 million by 2030. Moreover, the market is witnessing the increasing adoption of the chemical in nail polishes, lipsticks, eye shadows, and hair sprays.
One of the key factors boosting the market growth is the surging adoption of the compound over other derivatives of bismuth. In recent years, large-scale manufacturers have shifted their focus from using bismuth oxychloride, bismuth hydroxide, bismuth subsalicylate, and bismuth subcarbonate to bismuth nitrate owing to the ability of the compound to serve as a suitable reactant for the selective oxidation of sulfides to form sulfoxides. Furthermore, the compound has a low cost and easy-to-handle features. Thus, it is widely used in various applications as an alternative to organic synthesis.
Moreover, the key trend in the bismuth nitrate market is the surging usage of the compound in cosmetics. The key products that contain this salt include lipsticks, hair sprays, nail polishes, and eye shadows. This is because the salt is a good source of white pigments in such products. Hence, with the increasing disposable income around the world, the spending on cosmetic products is burgeoning. Moreover, people are becoming more conscious of their appearance, which, combined with the growing geriatric population and dermatological disease burden, is driving cosmetic consumption.
The grade segment of the bismuth nitrate market is classified into pharmaceutical grade, industrial grade, and others. Of these, the pharmaceutical grade held the largest revenue share in 2019 in the market, and it is also expected to witness the fastest growth during the forecast period. This is ascribed to the high-volume consumption of the compound in drug production. Further, the high investments in research and development (R&D) for the discovery of novel applications of this grade in the medical sector drives its demand.
Geographically, the Asia-Pacific (APAC) bismuth nitrate market generated the highest revenue in 2019, and it is expected to witness the same trend during the forecast period. This is ascribed to the increasing R&D investments in the pharmaceutical sector to develop drugs for diseases that do not have any cure. Moreover, APAC is the prime supplier of medicated drugs to several Middle Eastern and European nations. Thus, foreign companies are becoming compelled to establish their manufacturing bases in the region. Additionally, the increasing prevalence of cancer in APAC facilitates the market growth.
Thus, the increasing application of bismuth nitrate over other bismuth derivates and growing pharmaceutical sector are projected to boost the market growth in the coming years.
Calcium Nitrate Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the calcium nitrate market include Wentong Group, ADOB Chemical, URALCHEM, The Chemical Company, GFS Chemicals, Inc., Airedale Chemical, Agrium, Shanxi Jiaocheng Tianlong Chemical Industry Co., Ltd, Haifa Chemicals Ltd., Yara International ASA, and Sterling Chemicals.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Calcium Nitrate Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/calcium-nitrate-market/download-sampleMarket DynamicsRising demand for calcium nitrate from the agrochemical industry due to the rapid population growth, increasing demand for food, and limited agricultural land worldwide are primarily driving global calcium nitrate market growth.
In addition, increasing demand for effective wastewater management in order to maintain the level of drinking water and water for sanitization purposes in countries with limited water infrastructure and limited freshwater sources and strict rules related to wastewater treatment will fuel the demand for calcium nitrate.
However, the presence of suitable alternatives like potassium nitrate, ammonium nitrate, and others and the hygroscopic properties of calcium nitrate will hamper the market growth.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
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