Global Hydrogen Cyanide Market Size study & Forecast, by Structure Type (Hydrogen Cyanide Liquid, Hydrogen Cyanide Gas) by Application (Sodium Cyanide and Potassium Cyanide, Adiponitrile, Acetone Cyanohydrin, Other Applications), and Regional Analysis, 20

Global Hydrogen Cyanide Market Size study & Forecast, by Structure Type (Hydrogen Cyanide Liquid, Hydrogen Cyanide Gas) by Application (Sodium Cyanide and Potassium Cyanide, Adiponitrile, Acetone Cyanohydrin, Other Applications), and Regional Analysis, 2023-2030

Global Hydrogen Cyanide Market is valued approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Hydrogen cyanide is primarily used in industrial processes, such as the production of synthetic fibers, plastics, and dyes. It is also used in the manufacturing of certain pharmaceuticals, fumigation agents, and pesticides. The Hydrogen Cyanide market is expanding because of factors such as growing usage in adiponitrile application, increasing the use of hydrogen cyanide in the automotive industry and rising gold extraction activities.

The market for hydrogen cyanide is being driven by the enormous demand to produce sodium cyanide and potassium cyanide. For the synthesis of carboxylic acids and nitriles, potassium and sodium cyanides are frequently utilized. However, these are primarily employed in the mining of gold and silver, as well as in the electroplating of these metals. Global production of gold and silver is continuously rising due to the rising investments in these precious metals. According to World Gold Council total gold mine production in year 2021 stood at 3,568.9 tones which increased to 3,611.9 tones in year 2022. Thus, rising gold products are fostering the market growth. Along with these, Numerous sectors, including the automotive, textile, and electronics industries, have seen a sharp increase in demand for nylon. As a result, it is anticipated that demand for adiponitrile would increase quickly along with the growing use of nylon. For instance, the output of the textile industry in the United States reached USD 16.59 billion in 2021, a rise of 7.2% from the fourth quarter of 2020. in addition, huge demand for manufacturing of sodium cyanide and potassium cyanide and increasing government initiatives and investments in the textile sector is creating lucrative growth to the market. However, the high cost of Hydrogen Cyanide stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Hydrogen Cyanide Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rising demand from gold extraction activities, rising automotive industry, and textiles industry in the region. Whereas, North America is projected to have significant growth owing to factors such as rising technological advancement, and the presence of key market players.

Major market player included in this report are:
Air Liquide
Ascend Performance Materials Private Limited
Evonik Industries AG
Hindusthan Chemicals Company
Matheson Tri-Gas Inc.
Sumitomo Chemical Co., Ltd.
Triveni Chemicals & Industries Ltd
INEOS Group Limited
Taekwang Industrial Co., Ltd.
Sterling Chemical and Alcohol Ltd

Recent Developments in the Market:
 In July 2022, A study was done to find a green way to make sodium cyanide using hydrogen cyanide that was vacuum extracted from cassava leaves. In this investigation, sodium cyanide was extracted from cassava leaves after 120 minutes of maceration at 30 degrees Celsius and 45 minutes of recovery in a vacuum at 35 to 40 degrees Celsius. According to the study, hydrogen cyanide (HCN), which is derived from cassava leaves, was successfully used to produce sodium cyanide by saturating a sodium hydroxide-absorbing solution with it.

Global Hydrogen Cyanide Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Structure Type, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Structure Typeofferings of key players.

The detailed segments and sub-segment of the market are explained below:

By Structure Type:
Hydrogen Cyanide Liquid
Hydrogen Cyanide Gas

By Application:
Sodium Cyanide and Potassium Cyanide
Adiponitrile
Acetone Cyanohydrin
Other Applications

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned

Air Liquide
Ascend Performance Materials Private Limited
Evonik Industries AG
Hindusthan Chemicals Company
Matheson Tri-Gas Inc.
Sumitomo Chemical Co., Ltd.
Triveni Chemicals & Industries Ltd
INEOS Group Limited
Taekwang Industrial Co., Ltd.
Sterling Chemical and Alcohol Ltd

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