Bismuth Vanadate is a non-hazardous inorganic pigment that imparts greenish-yellow shades or greenish shades. The molecular formula of Bismuth Vanadate is BiVO4. Bismuth vanadate characteristic properties are high color strength, high gloss, and high brightness among others. Bismuth vanadate is manufactured by dissolving bismuth nitrate with sodium and molybdate sodium vanadate in nitric acid, then by precipitation, it produces a complex mixture of metals. After calcination, it produces crystalline bismuth vanadate. Bismuth vanadate displays similar properties as that of other pigments such as lead chromate pigment. As the bismuth vanadate is lead- chromate-free pigment, the demand for bismuth vanadate is increasing in high-quality coatings involved in industries such as automotive refinish paints. When combined with other pigments, it gives orange, green, and red color shades with comparatively higher hiding power. It can be used in outdoor and indoor applications due to its characteristic properties such as brightness and weathering fastness. Furthermore, bismuth vanadate provides high-temperature stability, thus rendering it ideal for use in the plastics industry.
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Rising demand for high-performance pigments from the end-use industries such as plastic and polymer, paint & coatings, and others are the major driving factor of the global bismuth vanadate market. Furthermore, a ban on pigments containing chromates is expected to drive the growth of the global bismuth vanadate powder market. Also, regulations prevailing in developed regions such as North America and Europe over the use of lead chromate pigments are expected to boost the demand of the global bismuth vanadate market. The bismuth vanadate is costly as compared to other alternative pigments is expected to have negative impact on the growth of the global bismuth vanadate market. However, increasing preference for environmentally friendly pigments for sustainable development has promoted the key players to invest in the production of bismuth vanadate which is anticipated to fuel the growth of the global bismuth vanadate market.
The global bismuth vanadate powder market is segmented based on product type and application. By product type, the global bismuth vanadate powder is segmented into laboratory-grade and industry-grade. In terms of application, the global bismuth vanadate powder is segmented into rubber and plastics, inks, detergents, paints and coatings, automotive coatings, powder coatings, water-based coatings, general industrial coatings, coil coatings, paper, and cosmetics.
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Geographically, the global bismuth vanadate powder market is segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. North America is anticipated to dominate the bismuth vanadate market and is projected to register healthy CAGR over the forecast period. Europe is the next big market for bismuth vanadate due to the increasing regulatory pressure from government organizations on the use of lead chromate pigment that resulted in an increase in demand for bismuth vanadate and is anticipated to register significant growth over the forecast period on the use of lead chromate pigment that resulted in the rise in demand for bismuth vanadate and is expected to register significant growth over the forecast period In Asia Pacific region, China and India are expected to lead the global market bismuth vanadate powder market due to the presence of major manufacturing players and rising end-use industries such as plastic & polymer industries and chemical, paint & coatings, and others. It is projected that the Asia Pacific region is expected to remain the major market for bismuth vanadate and is anticipated to register healthy CAGR over the forecast period. Also, Latin America and Middle East & Africa (MEA) are projected to register slow growth over the forecast period.
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Some of the major players in the global bismuth vanadate powder market are Harold Scholz & Co. GmbH, BASF SE, Domion Colour Corporation, Bruchsaler Farbenfabrik GmbH & Co. KG, Harold Scholz & Co. GmbH, Dimacolor Industry Group Co., Ltd., Heubach GmbH and others. The key players in the global bismuth vanadate powder market are investing in research and development to develop innovative products. Also, due to rising preference for eco-friendly products such as bismuth vanadate has stimulated the key players to develop the bismuth vanadate powder. For instance, BASF SE is has invested in research and development to develop eco-friendly pigment alkali-stable bismuth vanadate pigment for the paints. Also, these products are temperature-stable and can have applications in the plastic industry. As part of the expansion strategy, some of the key players such as Heubach GmBH are expanding its bismuth vanadate pigment segment to meet the increasing demand for high-performance pigments to replace lead chromates.
TOC:
Chapter 1 Bismuth Vanadate Powder Market Overview
1.1 Product Overview and Scope of Bismuth Vanadate Powder
1.2 Bismuth Vanadate Powder Market Segmentation by Type
1.2.1 Global Production Market Share of Bismuth Vanadate Powder by Type in 2020
1.2.1 Type 1
1.2.2 Type 2
1.2.3 Type 3
TOC Continued…
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