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Advancements in Sodium Cyanide Market 

07-16-2018 10:02 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research Reports

/ PR Agency: Transparency Market Research Reports
Sodium cyanide is a water-soluble inorganic compound manufactured by treating hydrogen cyanide with sodium hydroxide at an elevated temperature. The compound is highly poisonous and remains stable at high temperatures in complete absence of carbon dioxide, air, and moisture. Sodium cyanide is widely used in gold mining, due to its high affinity toward metals. In addition, it is employed in other industries such as electroplating, agrochemicals, pharmaceuticals, ore extraction, dyes, cleaning metals, and chelating agents.

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The global sodium cyanide market has been segmented in terms of type and end-user. In terms of type, the market has been divided into solid sodium cyanide and liquid sodium cyanide. In terms of end-user, it has been segmented into mining, chemical, pharmaceutical, textile, and dyes & pigments. Mining is the leading end-user segment of the market. Expansion type of mining projects such as expansion of the Eastern Dragon mine in China and new exploration projects for production of gold such as the Blackwater project and the Rainy River project in Canada are raising the demand for sodium cyanide in the mining industry.

Global Sodium Cyanide Market: Drivers and Restraints

Rising usage of sodium cyanide as a reagent in the mining industry for separation of precious metals is one of the important factors driving the sodium cyanide market. Mining waste containing sodium cyanide during its use in mining operations may cause serious damage to the environment. This, in turn, is likely to restrain the sodium cyanide market during the forecast period. In addition, numerous regulations with respect to use of sodium cyanide are hampering the market. Fluctuation in gold prices has pushed several gold-mining companies to invest in new technologies, typically in exploration projects, in order to extract high-quality gold and silver. This is likely to offer growth opportunities to players operating in the sodium cyanide market in the next few years.

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In terms of region, the global sodium cyanide market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. In terms of consumption, North America is a leading market for sodium cyanide, followed by Asia Pacific and Europe. In North America, the U.S. is a leading consumer of sodium cyanide, wherein sodium cyanide is utilized on a large scale for gold extraction. However, rising focus on substitution of sodium cyanide with other alternatives led by its potential threat to environment is hampering the sodium cyanide market in the region. In Asia Pacific, India and China are leading gold-producing countries. Rising disposable income and changing lifestyle in countries such as India, China, and Vietnam are raising the demand for sodium cyanide. Countries such as Australia and South Korea are leading exporters of sodium cyanide and Australia is expected to increase its production capacity for sodium cyanide in the next few years. The chemical industry in Europe predominantly consumes sodium cyanide. Countries in Eastern Europe such as Russia and Kazakhstan are expected to increase their production capacity of sodium cyanide in order to reduce their dependency on imports of sodium cyanide. Latin America and Middle East & Africa currently hold a low share of the global sodium cyanide market. However, the demand for sodium cyanide as a mining reagent in Peru, Colombia, South Africa, and GCC is expected to increase during the forecast period.

Global Sodium Cyanide Market: Key Players

Key players operating in the global sodium cyanide market are Cyanco, E. I. DuPont, Australian Gold Reagents, Orica, and Evonik Industries.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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