Bismuth Oxide Recent Commodity Market Intelligence

I. Price Dynamics
- Domestic Prices: As of May 26, 2026, the domestic spot price for bismuth oxide (99.9% purity) stands at RMB 147,000 per metric ton, remaining stable over the past week with no significant fluctuations.
- International Prices: Peruvian bismuth oxide prices—subject to influences including raw material costs, production processes, market demand, and global price volatility—ranged approximately USD 2,000–5,000 per metric ton in 2023. Actual transaction prices vary depending on supply-demand conditions, manufacturer, quality specifications, and order volume.

II. Supply-Demand Situation
- Supply Side: Orders received by domestic bismuth oxide producers have increased recently, driven primarily by the absence of export restrictions on bismuth oxide under current export control policies, coupled with rising demand from emerging sectors such as new energy, electronics, pharmaceuticals, and chemicals. Additionally, the impact of environmental inspections on raw material supply has gradually diminished, easing prior supply tightness.
- Demand Side: Bismuth oxide finds broad application across electronics & semiconductors, ceramics & glass, flame retardants & chemical additives, pharmaceuticals, and environmental protection. Notably, in the electronics and semiconductor sector—as a critical component in ZnO varistors and as a dielectric ceramic material in multilayer ceramic capacitors (MLCCs)—demand continues to grow steadily. Furthermore, emerging applications—including conductive additives for new-energy batteries and transparent conductive films for flexible displays—are gaining traction, further boosting overall demand.

III. Import-Export Status
- Exports: China’s bismuth oxide exports showed growth at the beginning of 2026: January export volume rose 18.67% month-on-month; February export volume surged 79.92% year-on-year. With bismuth oxide explicitly excluded from recent export control measures, exports are expected to maintain upward momentum.
- Imports: China’s bismuth oxide imports remain minimal, as domestic production largely satisfies domestic demand.

IV. Market Developments
- Policy Impact: Although the Ministry of Commerce and General Administration of Customs implemented export controls on certain bismuth-related items, bismuth oxide is not subject to such restrictions. Consequently, this policy exerts limited negative impact on the bismuth oxide market—and may even support export growth.
- Industry Trends: Bismuth oxide nanoparticles—a high-value-added subsegment—continue to experience robust market expansion. In 2025, China’s bismuth oxide nanoparticle market reached RMB 100 million, representing a 20.0% year-on-year increase; it is projected to reach RMB 120 million in 2026. This growth is attributable to supportive national advanced materials industry policies, structural breakthroughs on the downstream demand side, and well-managed capacity expansion.

Analysis & Assessment

I. Price Outlook
- Short Term: Bismuth oxide prices are expected to remain stable. Relatively balanced domestic supply-demand dynamics, combined with growing export volumes, provide price support. However, international price volatility and raw material cost fluctuations warrant continued monitoring.
- Long Term: Sustained development across new-energy, electronics, pharmaceutical, and other end-use industries will likely drive continued demand growth for bismuth oxide. Concurrently, expanding markets for high-value-added products—such as bismuth oxide nanoparticles—will further underpin potential price appreciation.

II. Supply-Demand Evolution
- Supply Side: Further easing of supply constraints is anticipated as environmental inspection impacts continue to recede and production capacity gradually ramps up. Nevertheless, vigilance remains warranted regarding raw material cost changes and international price volatility affecting supply stability.
- Demand Side: Demand from new-energy, electronics, and pharmaceutical sectors will persistently rise. Notably, demand for high-value-added products—especially bismuth oxide nanoparticles—is poised for rapid growth. Moreover, commercialization and scale-up of novel applications will generate additional demand drivers.

Forecast

I. Price Forecast
- Bismuth oxide prices are projected to remain stable or exhibit modest upward movement over the near term. The magnitude of any increase will depend on evolving supply-demand fundamentals, raw material cost trends, and international price developments.

II. Market Trend Forecast
- The bismuth oxide market is expected to sustain its growth trajectory. Continued advancement across new-energy, electronics, pharmaceutical, and other end-user industries—alongside expanding adoption of high-value-added products such as bismuth oxide nanoparticles—will further enlarge the overall market scale.
- Competitive intensity will intensify. As the market expands and new entrants enter the sector, competition will become increasingly fierce. Enterprises must prioritize technological innovation and product quality enhancement to secure competitive advantages.