Bismuth Vanadate Market: Overview
Bismuth vanadate is a high performance inorganic pigment that imparts color to various substrates. It is an inorganic compound with the formula BiVO4. Bismuth vanadate is available in bright yellow powder and may have a slight green tint. It is primarily used as a pigment. It can be found naturally as minerals pucherite, clinobisvanite, and dreyerite. Most commercial bismuth vanadate pigments are now based on pure bismuth vanadate with monoclinic (clinobisvanite) or tetragonal (dreyerite) structure. Bismuth vanadate pigments possess properties such as improved opacity, high gloss, excellent weather and light fastness, and good tinting strength. They are easily dispersible and can be used in solvent based as well as waterborne systems (including aqueous dispersions).
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Bismuth vanadate pigments are known for durability, brightness, high chroma, and opacity. These pigments exhibit improved properties such as extreme heat resistance and improved acid, and alkali and sulphur dioxide (SO2) resistance. Bismuth vanadate pigments are particularly recommended for coil coating or powder coatings as well for various plastic applications. Bismuth vanadates pigments are avaliable in the range of greenish shades. These are generally characterized by an outstanding brilliance, high color strength, high gloss, and good hiding power.
Bismuth Vanadate Market: Drivers & Restrains
Bismuth vanadate is especially suitable for automotive and industrial coatings due to their outstanding durability and fastness properties. Stability properties of bismuth vanadate regarding heat, sulphur dioxide, or alkali resistance are insufficient for some applications. Plastic applications require a stable color shade even at very high temperatures. Ban on pigments containing chromates is the primary driver of the bismuth vanadate market. Regulations prevailing in developed regions such as North America and Europe over the use of lead chromate pigments are expected to drive the demand for bismuth vanadate as an effective alternative. Bismuth vanadate is used as alternative to zinc-containing formulations. It enables highly chromatic yellow shades with high weather fastness. BASF SE is planning to introduce a newly developed alkali-stable bismuth vanadate pigment for the formulation of paints and a temperature-stable bismuth vanadate pigment for plastic applications.
Bismuth Vanadate Market: Key Segments
Based on application, the bismuth vanadate market can be segmented into automotive coatings, powder coatings, water based coatings, general industrial coatings, and coil coatings. Bismuth vanadate is suitable for usage in various low temperature plastic resins such as polyolefins, polyurethane, and poly vinyl chloride. Heubach GmBH is expanding its bismuth vanadate pigment capacity to meet the rising demand for high performance pigments to replace lead chromates. Increase in preference for environmentally friendly pigments is expected to boost the global bismuth vanadate market during the forecast period.
Bismuth Vanadate Market: Regional Outlook
In terms of region, the global bismuth vanadate market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific was the dominant region of the bismuth vanadate market in terms of production and consumption. China is the key player of the bismuth vanadate market. The market in the country is anticipated to expand at a rapid pace during the forecast period. Increase in population and rise in per capita income are driving the demand for paints and coatings, especially in building & construction and automotive industries. Europe also accounted for key share of the global bismuth vanadate market in 2017. Middle East & Africa and Latin America are estimated to be emerging regions of the global bismuth vanadate market. The market in these regions is likely to expand at a promising rate during the forecast period.
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Bismuth Vanadate Market: Key Players
Key manufacturers operating in the bismuth vanadate market are Dominion Colour Corporation, Ferro Corporation, BASF SE, and Heubach GmbH.