Sodium Cyanide Market
PUBLISHED: 2023 ID: SMRC22740
SHARE
SHARE

Sodium Cyanide Market

Sodium Cyanide Market Forecasts to 2028 - Global Analysis By Form (Liquid and Solid), End User (Mining, Chemical, Electroplating, Dye and Textile, Pharmaceutical and Other End Users) and By Geography

4.8 (61 reviews)
4.8 (61 reviews)
Published: 2023 ID: SMRC22740

This report covers the impact of COVID-19 on this global market
Loading...

Years Covered

2020-2028

Estimated Year Value (2022)

US $2.54 BN

Projected Year Value (2028)

US $3.65 BN

CAGR (2022 - 2028)

6.2%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Sodium Cyanide Market is accounted for $2.54 billion in 2022 and is expected to reach $3.65 billion by 2028 growing at a CAGR of 6.2% during the forecast period. An inorganic poisonous solid with a strong affinity for metals is sodium cyanide (NaCN). It is simply hydrolyzed to produce hydrogen cyanide. When in contact with acid, it releases flammable and extremely toxic hydrogen cyanide gas. It is primarily utilized in chemical synthesis, electroplating, and the smelting of precious metals, among other industries. Nearly two thirds of the sodium cyanide application is for the processing of gold and silver. Numerous chemicals, including sodium cyanide, are used to keep insects and other pests away from agricultural farms.



Market Dynamics:

Driver:

Rising demand for smart fabrics and wearable

Almost two-thirds of the sodium cyanide used in the mining industry is used as a crucial flotation reagent for the extraction of many minerals from their mineral ores, including gold and silver. The desire of every government to amass more gold and silver for their country is the primary driver of the increase in mining activities worldwide. More production is anticipated in the near future, primarily as a result of the companies' expansion plans. This increase in production was primarily caused by the companies' increased mining activities.

Restraint:

Stringent regulations

Governmental authorities classify and grade sodium cyanide as a highly poisonous substance, necessitating secure packaging and safe transportation regulations. As a result, sodium cyanide is only permitted to be transported along a few specific routes. Regarding the use and transportation of sodium cyanide, various nations have created their own sets of regulations and laws. Companies engaged in both manufacturing and end-use struggle to comply with and adhere to these national regulations. This might deter investments in the sodium cyanide market, which would prevent market expansion in constrained areas.

Opportunity:

Rising chemical manufacturing activities

Industrialization has been a key trend influencing the world's demand for sodium cyanide in recent years, and it is expected to continue doing so throughout the forecast period. Other possibilities that might boost sodium cyanide sales in the future include growing chemical use in a variety of applications and the introduction of government-supported initiatives to support the chemical manufacturing sector.

Threat:

Environmental and human health effects

The sodium cyanide market's toxicity prevents it from growing. Since sodium cyanide binds to the ferric iron of oxidized cytochrome oxidase, it prevents oxygen from reaching tissues, causing tissue hypoxia. Sodium cyanide is a chemical compound that is extremely poisonous when consumed orally, inhaled, or even absorbed through the skin. Accidental ingestion of even a trace amount—as little as 100 to 150 mg—can instantly cause collapse and death in humans. These outcomes are limiting market expansion.

Covid-19 Impact

The global production of sodium cyanide in 2020 has been significantly impacted by the COVID-19 pandemic. Due to lockdown and low demand, sodium cyanide industrial production was temporarily stopped. The demand for sodium cyanide from the mining industry experienced a significant decline as many governments were compelled to impose lockdown. This had a significant impact on the supply chains of many different industries worldwide, widening the supply-demand gap. Thus, a lack of raw materials will hinder the production of sodium cyanide, which will have a negative effect on the expansion of the sodium cyanide supply chain during the time period.

The Mining segment is expected to be the largest during the forecast period

The mining sector held a 36% market share for sodium cyanide and is expected to be the largest during the forecast period. The mining industry uses the majority of the sodium cyanide produced on the global market to extract gold and silver. For instance, Canada is the world's fifth-largest producer of gold, with $48.2 billion in mineral production in 2019 and $49.1 billion in 2018. Additionally, the government is launching a number of initiatives to entice more investors to explore the untapped natural resources. Due to this, the mining industry will benefit from global government initiatives to promote it, which will increase demand for sodium cyanide.

The Solid segment is expected to have the highest CAGR during the forecast period

During the forecast period, the solid segment is expected to witness lucrative growth. Salt, which has no color, and cubic crystals make up solid sodium cyanide. Sodium cyanide is used to extract gold from its mineral ores. Additionally, sodium cyanide has a high potential to replace a variety of petroleum-based chemicals and can lessen our reliance on fossil fuels like petroleum. As a result, there is currently a significant increase in demand for solid sodium cyanide, which supports increased economic expansion. As a result, there will be a significant increase in demand for solid sodium cyanide, which helps fuel the segment's growth.

Region with largest share:

Due to the excess production of sodium cyanide in Asia and the region's low labor costs, the Asia Pacific region is anticipated to witness the largest share over the forecast period. Moreover, the market is expanding as a result of the region's sharp rise in mining activity and the expanding electroplating sector. In this region, supply and demand are both very high. With nearly half of the world's supply of sodium cyanide, the Asia Pacific region is the product's main supply market. The readily available feedstock and high-capacity installations are driving the sodium cyanide market in the Asia Pacific region.

Region with highest CAGR:

Owing to its excess capacity, North America is one of the main exporting regions and is estimated to experience the highest growth during the forecast period. The region is a net exporter of sodium cyanide and primarily exports goods to Mexico and Latin America. The region's market is being driven forward by the simple availability of feedstock and the easy accessibility to the mining sites. The increase in sodium cyanide production capacity in the upcoming years is anticipated to drive the industry in the region.



Key players in the market

Some of the key players profiled in the Sodium Cyanide Market include Anhui Shuguang Chemical Group, AnQore, Asian Chemtech Private Limited, Australian Gold Reagents Pty Ltd, Avonchem Ltd., Chemours Company, Cyanco Corporation, CyPlus GmbH, Draslovka a.s., Evonik Industries AG, Hebei Chengxin Co.Ltd, Hindustan Chemicals Company, Korund, Lukoil, Nippon Soda Co.Ltd, Orica Ltd., Sasol Polymers Ltd, Sinopec Shanghai Petrochemical Company Limited, Taekwang Industrial Co Ltd, The Chemours Company, Tiande Chemical Holdings Limited, Tongsuh Petrochemical Corp.Ltd and YnnovateSanzheng (Yingkou) Fine Chemicals Co Ltd.

Key Developments:

In January 2023, The Chemours Company (“Chemours”), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, announced a $200 million investment to increase capacity and advance technology for its industry-leading Nafion™ ion exchange materials to be located at Chemours’ manufacturing facility in Villers-Saint-Paul, France. As part of the investment, the capabilities of Chemours’ regional manufacturing site will be expanded to support and advance technological progress and new products for the worldwide hydrogen economy.

In April 2022, Australian Gold Reagents (AGR) is poised to expand its sodium cyanide production to support growing global demand for gold. A significant expansion of AGR’s sodium cyanide plant is being planned for construction in Kwinana, Western Australia. If approved, it will increase AGR’s production capacity by circa 30,000 tonnes per annum from its existing production of more than 90,000 tonnes per annum, with the sodium cyanide to be used in gold mining operations across Australia, Asia, Africa, the Americas and the Middle East.

Forms Covered:
• Liquid
• Solid

End Users Covered:
• Mining
• Chemical
• Electroplating
• Dye and Textile
• Pharmaceutical
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Sodium Cyanide Market, By Form
5.1 Introduction
5.2 Liquid
5.3 Solid

6 Global Sodium Cyanide Market, By End User
6.1 Introduction
6.2 Mining
6.3 Chemical
6.4 Electroplating
6.5 Dye and Textile
6.6 Pharmaceutical
6.7 Other End Users

7 Global Sodium Cyanide Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa

8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies

9 Company Profiling
9.1 Anhui Shuguang Chemical Group
9.2 AnQore
9.3 Asian Chemtech Private Limited
9.4 Australian Gold Reagents Pty Ltd
9.5 Avonchem Ltd.
9.6 Chemours Company
9.7 Cyanco Corporation
9.8 CyPlus GmbH
9.9 Draslovka a.s.
9.10 Evonik Industries AG
9.11 Hebei Chengxin Co.Ltd
9.12 Hindustan Chemicals Company
9.13 Korund
9.14 Lukoil
9.15 Nippon Soda Co.Ltd
9.16 Orica Ltd.
9.17 Sasol Polymers Ltd
9.18 Sinopec Shanghai Petrochemical Company Limited
9.19 Taekwang Industrial Co Ltd
9.20 The Chemours Company
9.21 Tiande Chemical Holdings Limited
9.22 Tongsuh Petrochemical Corp.Ltd
9.23 YnnovateSanzheng (Yingkou) Fine Chemicals Co Ltd

List of Tables
1 Global Sodium Cyanide Market Outlook, By Region (2020-2028) ($MN)
2 Global Sodium Cyanide Market Outlook, By Form (2020-2028) ($MN)
3 Global Sodium Cyanide Market Outlook, By Liquid (2020-2028) ($MN)
4 Global Sodium Cyanide Market Outlook, By Solid (2020-2028) ($MN)
5 Global Sodium Cyanide Market Outlook, By End User (2020-2028) ($MN)
6 Global Sodium Cyanide Market Outlook, By Mining (2020-2028) ($MN)
7 Global Sodium Cyanide Market Outlook, By Chemical (2020-2028) ($MN)
8 Global Sodium Cyanide Market Outlook, By Electroplating (2020-2028) ($MN)
9 Global Sodium Cyanide Market Outlook, By Dye and Textile (2020-2028) ($MN)
10 Global Sodium Cyanide Market Outlook, By Pharmaceutical (2020-2028) ($MN)
11 Global Sodium Cyanide Market Outlook, By Other End Users (2020-2028) ($MN)
12 North America Sodium Cyanide Market Outlook, By Country (2020-2028) ($MN)
13 North America Sodium Cyanide Market Outlook, By Form (2020-2028) ($MN)
14 North America Sodium Cyanide Market Outlook, By Liquid (2020-2028) ($MN)
15 North America Sodium Cyanide Market Outlook, By Solid (2020-2028) ($MN)
16 North America Sodium Cyanide Market Outlook, By End User (2020-2028) ($MN)
17 North America Sodium Cyanide Market Outlook, By Mining (2020-2028) ($MN)
18 North America Sodium Cyanide Market Outlook, By Chemical (2020-2028) ($MN)
19 North America Sodium Cyanide Market Outlook, By Electroplating (2020-2028) ($MN)
20 North America Sodium Cyanide Market Outlook, By Dye and Textile (2020-2028) ($MN)
21 North America Sodium Cyanide Market Outlook, By Pharmaceutical (2020-2028) ($MN)
22 North America Sodium Cyanide Market Outlook, By Other End Users (2020-2028) ($MN)
23 Europe Sodium Cyanide Market Outlook, By Country (2020-2028) ($MN)
24 Europe Sodium Cyanide Market Outlook, By Form (2020-2028) ($MN)
25 Europe Sodium Cyanide Market Outlook, By Liquid (2020-2028) ($MN)
26 Europe Sodium Cyanide Market Outlook, By Solid (2020-2028) ($MN)
27 Europe Sodium Cyanide Market Outlook, By End User (2020-2028) ($MN)
28 Europe Sodium Cyanide Market Outlook, By Mining (2020-2028) ($MN)
29 Europe Sodium Cyanide Market Outlook, By Chemical (2020-2028) ($MN)
30 Europe Sodium Cyanide Market Outlook, By Electroplating (2020-2028) ($MN)
31 Europe Sodium Cyanide Market Outlook, By Dye and Textile (2020-2028) ($MN)
32 Europe Sodium Cyanide Market Outlook, By Pharmaceutical (2020-2028) ($MN)
33 Europe Sodium Cyanide Market Outlook, By Other End Users (2020-2028) ($MN)
34 Asia Pacific Sodium Cyanide Market Outlook, By Country (2020-2028) ($MN)
35 Asia Pacific Sodium Cyanide Market Outlook, By Form (2020-2028) ($MN)
36 Asia Pacific Sodium Cyanide Market Outlook, By Liquid (2020-2028) ($MN)
37 Asia Pacific Sodium Cyanide Market Outlook, By Solid (2020-2028) ($MN)
38 Asia Pacific Sodium Cyanide Market Outlook, By End User (2020-2028) ($MN)
39 Asia Pacific Sodium Cyanide Market Outlook, By Mining (2020-2028) ($MN)
40 Asia Pacific Sodium Cyanide Market Outlook, By Chemical (2020-2028) ($MN)
41 Asia Pacific Sodium Cyanide Market Outlook, By Electroplating (2020-2028) ($MN)
42 Asia Pacific Sodium Cyanide Market Outlook, By Dye and Textile (2020-2028) ($MN)
43 Asia Pacific Sodium Cyanide Market Outlook, By Pharmaceutical (2020-2028) ($MN)
44 Asia Pacific Sodium Cyanide Market Outlook, By Other End Users (2020-2028) ($MN)
45 South America Sodium Cyanide Market Outlook, By Country (2020-2028) ($MN)
46 South America Sodium Cyanide Market Outlook, By Form (2020-2028) ($MN)
47 South America Sodium Cyanide Market Outlook, By Liquid (2020-2028) ($MN)
48 South America Sodium Cyanide Market Outlook, By Solid (2020-2028) ($MN)
49 South America Sodium Cyanide Market Outlook, By End User (2020-2028) ($MN)
50 South America Sodium Cyanide Market Outlook, By Mining (2020-2028) ($MN)
51 South America Sodium Cyanide Market Outlook, By Chemical (2020-2028) ($MN)
52 South America Sodium Cyanide Market Outlook, By Electroplating (2020-2028) ($MN)
53 South America Sodium Cyanide Market Outlook, By Dye and Textile (2020-2028) ($MN)
54 South America Sodium Cyanide Market Outlook, By Pharmaceutical (2020-2028) ($MN)
55 South America Sodium Cyanide Market Outlook, By Other End Users (2020-2028) ($MN)
56 Middle East & Africa Sodium Cyanide Market Outlook, By Country (2020-2028) ($MN)
57 Middle East & Africa Sodium Cyanide Market Outlook, By Form (2020-2028) ($MN)
58 Middle East & Africa Sodium Cyanide Market Outlook, By Liquid (2020-2028) ($MN)
59 Middle East & Africa Sodium Cyanide Market Outlook, By Solid (2020-2028) ($MN)
60 Middle East & Africa Sodium Cyanide Market Outlook, By End User (2020-2028) ($MN)
61 Middle East & Africa Sodium Cyanide Market Outlook, By Mining (2020-2028) ($MN)
62 Middle East & Africa Sodium Cyanide Market Outlook, By Chemical (2020-2028) ($MN)
63 Middle East & Africa Sodium Cyanide Market Outlook, By Electroplating (2020-2028) ($MN)
64 Middle East & Africa Sodium Cyanide Market Outlook, By Dye and Textile (2020-2028) ($MN)
65 Middle East & Africa Sodium Cyanide Market Outlook, By Pharmaceutical (2020-2028) ($MN)
66 Middle East & Africa Sodium Cyanide Market Outlook, By Other End Users (2020-2028) ($MN)

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials