Global Sodium Cyanide Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Sodium Cyanide Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Sodium cyanide is an inorganic compound with the formula NaCN. It is a white, water-soluble solid. Cyanide has a high affinity for metals, which leads to the high toxicity of this salt. Its main application, in gold mining, also exploits its high reactivity toward metals. It is a strong base.

Market Overview:

The latest research study on the global Sodium Cyanide market finds that the global Sodium Cyanide market reached a value of USD 2617.19 million in 2022. It’s expected that the market will achieve USD 3175.0 million by 2028, exhibiting a CAGR of 3.27% during the forecast period.

Market Drivers

, Trends and Issues
The production areas of sodium cyanide are mainly China, South Korea, the United States, Europe and Australia, of which USA is the largest producer around the world. In recent years, China's exports of solid sodium cyanide to South America, Africa, Australia and Central Asia, Southeast Asia and other regions have been increasing, indicating that the demand for solid sodium cyanide from China in various countries in the world is expanding.

Sodium cyanide is a common industrial chemical that can be obtained at a relatively low cost. Considering technical and economic reasons, cyanide is the chemical of choice for recovering gold from ore.

Due to the decline in the quality of gold and silver ore, the demand for flotation reagents such as sodium cyanide has been increasing, and affordable sodium cyanide is widely used for gold extraction.

China accounts for more than 12% of total world gold production. China has further promoted the country's mining activities by allowing foreign investment into the sector, which has further boosted the country's mining activities. China's sodium cyanide market has great market potential.

The growing demand for precious metals for commercial and non-commercial uses has led to an increase in mining activities worldwide. Therefore, the demand for sodium cyanide is also expected to continue to grow significantly in the coming years.

However, sodium cyanide spills during the mining process may have a negative impact on the environment and may inhibit the potential growth of the sodium cyanide market.

Region Overview:

From 2023-2028, United States is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Cyanco, Anhui Shuguang Chemical, Hebei Chengxin Group with the revenue market share of 11.24%, 9.51% and 8.19% in 2019.

Cyanco Company, LLC manufacture and markets chemicals products. The Company produces solid to liquid systems, cyanide control systems, peroxide assisted leaches, analyzers, and sodium cyanide for the gold mining industry. Cyanco distributes it products worldwide.

Anhui Shuguang Chemical Group was established in October 1995 by the parent company Anhui Shuguang Chemical Group Co., Ltd. and its wholly-owned and controlled subsidiaries. The Group's main products are sodium cyanide, potassium cyanide, hydrogen, syngas, n-butanol, isobutanol, octanol, methanol, propane, ammonium sulfate, sulfuric acid, heat (steam), metal drums (boxes), organic Glass and its products, etc., and has specialized hazardous chemicals for road transportation, Yangtze River shipping and ship port service capabilities.

Segmentation Overview:

Among different product types, Solid Sodium Cyanide segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Mining Industry segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Sodium Cyanide market covered in Chapter 3:

Sasol Limited
Nippon Soda
Unigel Group
Orica
Cyanco
Gujarat Alkalies and Chemicals Limited
Tongsuh Petrochemical
Hebei Chengxin Group
Anhui Shuguang Chemical
Australian Gold Reagents
Taekwang Industrial
Chemours (DuPont)

In Chapter 4 and Chapter 14.2, on the basis of types, the Sodium Cyanide market from 2018 to 2029 is primarily split into:

Solid Sodium Cyanide
Liquid Sodium Cyanide

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Sodium Cyanide market from 2018 to 2029 covers:

Mining Industry
Chemical Industry
Dye and Textile Industry
Electroplating Industry
Metallurgy
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)