Market overview
The global bismuth market is worth USD 477 mn in 2026 and is forecast to reach USD 792 mn by 2036, growing at a 5.2% CAGR. China is the largest country market and Bismuth metal and alloys is the largest by form segment.
| Scope | Bismuth metal and bismuth compounds sold for pharmaceuticals, cosmetics, low-melt alloys, solders, pigments and chemical catalysts, measured at the point of sale to industrial buyers. |
|---|---|
| Industry | Chemicals and Materials |
| Value 2025 | USD 450 mn |
| Value 2026 | USD 477 mn |
| Value 2036 | USD 792 mn |
| CAGR 2026-2036 | 5.2% |
| Volume 2026 | 20,784 tonnes |
| Volume 2036 | 28,307 tonnes |
| Average price 2026 | USD 22,950 per tonne |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Bismuth market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 477 mn |
| 2027 | USD 502 mn |
| 2028 | USD 528 mn |
| 2029 | USD 555 mn |
| 2030 | USD 584 mn |
| 2031 | USD 615 mn |
| 2032 | USD 647 mn |
| 2033 | USD 680 mn |
| 2034 | USD 716 mn |
| 2035 | USD 753 mn |
| 2036 | USD 792 mn |
Bismuth market segmentation
By form
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Bismuth metal and alloys | 58.0% | 56.0% | USD 277 mn | 4.8% |
| Bismuth subsalicylate and oxides | 24.0% | 23.6% | USD 114 mn | 5.0% |
| Bismuth chemicals and pigments | 18.0% | 20.4% | USD 86 mn | 6.5% |
By end use
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Pharmaceuticals and cosmetics | 34.0% | 32.0% | USD 162 mn | 4.6% |
| Metallurgical additives and alloys | 22.0% | 21.7% | USD 105 mn | 5.1% |
| Chemicals and catalysts | 16.0% | 17.4% | USD 76 mn | 6.1% |
| Electronics and solders | 14.0% | 15.9% | USD 67 mn | 6.6% |
| Pigments and ceramics | 8.0% | 7.5% | USD 38 mn | 4.6% |
| Other uses | 6.0% | 5.4% | USD 29 mn | 4.1% |
By source
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Lead-smelter by-product | 58.0% | 52.0% | USD 277 mn | 4.1% |
| Tungsten and copper by-product | 24.0% | 26.0% | USD 114 mn | 6.0% |
| Primary mining and recycling | 18.0% | 22.0% | USD 86 mn | 7.3% |
By purity grade
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Standard 99.9 percent | 51.0% | 47.0% | USD 243 mn | 4.3% |
| High-purity 99.99 percent | 34.0% | 36.0% | USD 162 mn | 5.8% |
| Ultra-pure 99.999 percent and above | 15.0% | 17.0% | USD 72 mn | 6.5% |
By supply channel
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Direct long-term contracts | 44.0% | 42.0% | USD 210 mn | 4.7% |
| Traders and distributors | 41.0% | 41.0% | USD 196 mn | 5.2% |
| Spot sales | 15.0% | 17.0% | USD 72 mn | 6.5% |
Top 25 countries for bismuth by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 84.5% of 2026 revenue and the 25 countries below together hold 96.0%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | China | USD 134 mn | 28.0% | USD 236 mn | 5.9% |
| 2 | United States | USD 76 mn | 16.0% | USD 119 mn | 4.5% |
| 3 | Japan | USD 48 mn | 10.0% | USD 71 mn | 4.1% |
| 4 | Germany | USD 38 mn | 8.0% | USD 57 mn | 4.1% |
| 5 | India | USD 29 mn | 6.0% | USD 62 mn | 8.0% |
| 6 | South Korea | USD 24 mn | 5.0% | USD 39 mn | 5.0% |
| 7 | France | USD 17 mn | 3.5% | USD 25 mn | 3.9% |
| 8 | United Kingdom | USD 14 mn | 3.0% | USD 21 mn | 4.1% |
| 9 | Brazil | USD 12 mn | 2.5% | USD 21 mn | 5.6% |
| 10 | Italy | USD 12 mn | 2.5% | USD 17 mn | 3.9% |
| 11 | Mexico | USD 5.5 mn | 1.2% | USD 9.5 mn | 5.6% |
| 12 | Canada | USD 4.8 mn | 1.0% | USD 7.8 mn | 4.9% |
| 13 | Taiwan | USD 4.8 mn | 1.0% | USD 7.8 mn | 4.9% |
| 14 | Spain | USD 4.4 mn | 0.9% | USD 7.1 mn | 4.9% |
| 15 | Netherlands | USD 3.7 mn | 0.8% | USD 5.9 mn | 4.9% |
| 16 | Belgium | USD 3.7 mn | 0.8% | USD 5.9 mn | 4.9% |
| 17 | Thailand | USD 3.7 mn | 0.8% | USD 6.3 mn | 5.6% |
| 18 | Vietnam | USD 3.3 mn | 0.7% | USD 6.1 mn | 6.2% |
| 19 | Poland | USD 3.3 mn | 0.7% | USD 5.7 mn | 5.5% |
| 20 | Turkey | USD 3.3 mn | 0.7% | USD 5.7 mn | 5.5% |
| 21 | Switzerland | USD 3.0 mn | 0.6% | USD 4.8 mn | 4.9% |
| 22 | Malaysia | USD 3.0 mn | 0.6% | USD 5.1 mn | 5.5% |
| 23 | Russia | USD 3.0 mn | 0.6% | USD 4.8 mn | 4.9% |
| 24 | Australia | USD 2.6 mn | 0.5% | USD 4.2 mn | 5.0% |
| 25 | Indonesia | USD 2.6 mn | 0.5% | USD 4.8 mn | 6.3% |
| Rest of world | USD 19 mn | 4.0% | USD 33 mn | 5.5% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- 5N Plus
- Masan High-Tech Materials
- Korea Zinc
- Hunan Nonferrous Metals
- Umicore
Group 2: Regional and specialist players
- Belmont Metals
- Industrias Penoles
- Sidech
- Nyrstar
- Dowa Holdings
Group 3: Emerging and niche players
- Mitsubishi Materials
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the bismuth market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 5.2% is calculated from the resulting values.
The market is divided by form, by end use, by source, by purity grade, by supply channel. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the bismuth market?
The global bismuth market is estimated at USD 450 mn in 2025 and USD 477 mn in 2026.
How fast will the bismuth market grow?
It is forecast to reach USD 792 mn by 2036, a compound annual growth rate of 5.2% from 2026, an increase of USD 315 mn.
Which country is the largest market for bismuth?
China is the largest market by revenue at USD 134 mn in 2026, 28.0% of the global total. The three largest countries together hold 54.0%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 8.0% a year from 2026 to 2036.
Which bismuth segment is largest?
In the by form split, Bismuth metal and alloys is the largest segment with 58.0% of 2026 revenue.
Who are the leading bismuth companies?
Global leaders include 5N Plus, Masan High-Tech Materials, Korea Zinc, Hunan Nonferrous Metals.
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