Global Sodium Cyanide Market- Forecast and Analysis (2020-2027)
Global Sodium Cyanide Market was valued at USD xx Bn in 2019 and is expected to reach at USD xx Bn by 2027 at a CAGR of xx% over forecast period 2020-2027.
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The report covers an in depth analysis of COVID 19 pandemic impact on Global Sodium Cyanide Market by region and on the key players revenue affected till April 2020 and expected short term and long term impact on the market.
Global Sodium Cyanide Market Dynamic’s:
Sodium cyanide is an inorganic compound, which possesses high reactivity towards metals. It is white colored, water soluble solid, with a molecular formula of NaCN. It is one of the most widely used chemicals worldwide. Sodium cyanide is used in a wide range of industrial applications such as mining, pharmaceuticals, etc. In addition, sodium cyanide is also used in electroplating, and as an insecticide to kill insects and pests. Various factors such as an increasing consumption of sodium cyanide in mining industry, rising demand for sodium cyanide in various end use industries such as inorganic chemicals, and pharmaceuticals as an important precursor are driving the global sodium cyanide market over forecast period.
However, factors such as harmful effects of sodium cyanide on human health & problems associated with skin & eyes and numerous regulations pertaining to the use of sodium cyanide. Agencies, such as International Cyanide Management Code has defined a particular limit on the use of sodium cyanide.
Global Sodium Cyanide Market is segmented by Type, by Application, and by Region. By application, mining industry held 41.65% of market share in 2019 and is expected to keep its dominance over forecast period. An increasing consumption of sodium cyanide in mining industry as an extracting reagent is a major factor driving growth of the global sodium cyanide market currently. This can be attributed to sodium cyanide, being widely used in many industries owing to its economic benefits in extraction of gold and silver. Chemours is a major market player in this application segment. An industry leader for more than 60 years, The Chemours Company acts as a partner and sodium cyanide provider with a seamless supply chain, a commitment to safety, dedicated support, and innovative solutions. Safe, efficient gold cyanidation is essential to extracting ounces of precious metal from tons of ore. As a reliable, end-to-end sodium cyanide supply partner, Chemours aims to help customers keep operations running smoothly.
By geography, Asia Pacific dominated the global market in 2019 and is expected to keep its dominance over forecast period owing to growing demand for sodium cyanide, for mining reagents various in industries in the region. The region is witnessing major growth in China, Japan, Australia and South Korea owing to rapid technological advancements in these countries. Hebei Chengxin is one of the largest producers of sodium cyanide for the gold mining industry in this region. APAC is followed by South America and MEA& Africa.
South America is expected to hold xx% of market over forecast period owing to increasing consumption of sodium cyanide in various end-use industries, especially in pharmaceuticals and mining industries. Additionally, increasing use of sodium cyanide for precious metal mining especially in Brazil and Mexico is expected to create lucrative opportunities for market over forecast period.
Report covers in depth analysis of key development, marketing strategies, value chain, supply chain and company profiles of market leaders, potential players and new entrants. The key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, collaborations, expansion, new product launches, joint ventures, strategic alliances and diversification to increase their regional presence and business opeartions.
Australian Gold Reagents Pty Ltd. dominated the global market in 2019 and is expected to keep its dominance over forecast period. Australian Gold Reagents Pty Ltd The sodium cyanide plant, located at CSBP Limited’s chemical and fertiliser complex in Kwinana, is a joint venture between Coogee Chemicals (25% shareholding) and CSBP a subsidiary of Wesfarmers (75% shareholding). The plant is managed by Australian Gold Reagents Pty Ltd (AGR), and has won a number of engineering excellence awards for its innovative design, and emphasis on safety and efficiency. The plant has been capable of producing up to 78,000 tonnes of liquid sodium cyanide per annum. Approximately half of the liquid sodium cyanide produced is used in the local market in Western Australia, whilst the remaining half is converted into solid sodium cyanide and sold in export markets including Africa, South America and Laos.
The objective of the report is to present a comprehensive analysis of the Global Sodium Cyanide Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Sodium Cyanide Market dynamics, structure by analyzing the market segments and project Global Sodium Cyanide Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Sodium Cyanide Market make the report investor’s guide.
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Global Sodium Cyanide Market by Type
• Solid sodium cyanide
• Liquid sodium cyanide
Global Sodium Cyanide Market by Application
• Mining
• Chemical industry
• Pharmaceutical industry
• Dyes and pigments
Global Sodium Cyanide Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
Global Sodium Cyanide Market Major Players
• Orica Limited
• Cyanco
• Coogee Chemicals
• Hebei Chengxin
• Australian Gold Reagents Pty Ltd
• Cyplus GmbH (Evonik Subsidiary)
• Union Group Chemical Company S.l
• Azoti
• American Elements
• The Chemours Company
• Orica Limited
• Evonik Industries AG
• Asahi Kasei Corporation
• Changsha Hekang Chemical Co. Ltd
• NanChang Basf Chemical Co. Ltd
• Imperial Chemical Corporation
• Taekwang Industries
• Hongye Holding Group Corporation
• Asian Chemtech Private Limited
• Avonchem Ltd.
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