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

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

Sodium cyanide is a poisonous compound with the formula NaCN. Cyanide has a high affinity for metals, which leads to the high toxicity of this salt. Sodium cyanide is a basic chemical raw material that plays an important role in practical chemical synthesis, pharmaceutical manufacturing, mining, and precious metal extraction. Solid Sodium cyanide appears as a white crystalline solid, lump solid or powder.

Market Overview:

The latest research study on the global Solid Sodium Cyanide market finds that the global Solid Sodium Cyanide market reached a value of USD 2166.47 million in 2022. It’s expected that the market will achieve USD 3546.28 million by 2028, exhibiting a CAGR of 8.56% during the forecast period.

Growth Drivers

Sodium cyanide is a common industrial chemical widely used in the mining industry, most commonly in gold mining. Gold is not only a special currency for reserves and investment, but also an important material for jewelry, electronics, modern communications, aerospace and other sectors. The increase in global uncertainties such as geopolitics and inflation has driven the price of gold to rise and demand has risen.
Most of the gold in the world is not in lumps, but very fine powders of gold in rocks. Demand for gold has forced mining companies to mine in rock with extremely low gold content, which requires industrial extraction to separate and purify gold from other materials. After mining and milling, the coarse rock mixture is turned into a fine powder and added to a sodium cyanide solution. Gold forms strong bonds with cyanide molecules, which can then be separated from other minerals, then it reacts with zinc and turns back into a solid, and finally smelting separates out the gold and casts it into bars. Due to the declining quality of gold and silver ores, the demand for sodium cyanide is increasing, and cyanide is the chemical of choice for gold recovery from ores for technical and economic reasons.
Rising demand for precious metals such as gold and silver drives mining activities, further driving the development of the sodium cyanide market.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

Draslovka is one of the major players operating in the Solid Sodium Cyanide market, holding a share of 15.44% in 2022.

In its early days, the focus of the company lay in the R&D and production of hydrogen cyanide, but an extensive line of next-generation CN-based products and services has since emerged. Today, Draslovka stands on the three business pillars of Agricultural solutions, Mining solutions, and Specialty chemicals. With business units in 7 territories and sales teams in more than 80 countries, they are providing their clients with the largest and most robust network of expert support.

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, Andrussow Method segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Mining Industry segment occupied the biggest share from 2017 to 2022.

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

Anhui Shuguang Chemical
Cyanco
Orica
Hebei Chengxin Group
Australian Gold Reagents
Taekwang Industrial
Tongsuh Petrochemical
CyPlus GmbH(Evonik)
Draslovka

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

Andrussow Method
Acrylonitrile By-product Method
Others

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

Mining Industry
Chemical Industry
Dye and Textile Industry
Pharmaceutical
Others

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)