Sodium Cyanide Market to Grow at a CAGR of 4.2% from 2022 to 2031

𝐒𝐨𝐝𝐢𝐮𝐦 𝐂𝐲𝐚𝐧𝐢𝐝𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟑𝟏

The global sodium cyanide market was valued at US$ 2.4 Bn in 2021
It is estimated to grow at a CAGR of 4.2% from 2022 to 2031
The global sodium cyanide market is expected to reach US$ 3.6 Bn by the end of 2031

𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=46848

𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐨𝐝𝐢𝐮𝐦 𝐂𝐲𝐚𝐧𝐢𝐝𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

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. It remains stable at high temperatures in complete absence of carbon dioxide, air, and moisture. Extraction of gold, electroplating, manufacture of agrochemicals and pharmaceuticals, ore extraction, cleaning of metals, and chelating agents are a few common sodium cyanide uses and applications.

Cyanide has been utilized in metal extraction since 1887, and it is currently safely used and managed in gold recovery around the world. Cyanide is one of only few chemical reagents that dissolve gold in water. It is a common industrial chemical that is readily available at a reasonably low cost. For both technical and economic reasons, cyanide is the chemical of choice for the recovery of gold from ores. Gold mining operations utilize highly dilute solutions of sodium cyanide, typically in the range of 0.01% and 0.05% cyanide (100 to 500 parts per million).

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=46848

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐔𝐬𝐚𝐠𝐞 𝐨𝐟 𝐒𝐨𝐝𝐢𝐮𝐦 𝐂𝐲𝐚𝐧𝐢𝐝𝐞 𝐚𝐬 𝐑𝐞𝐚𝐠𝐞𝐧𝐭 𝐢𝐧 𝐌𝐢𝐧𝐢𝐧𝐠 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐟𝐨𝐫 𝐒𝐞𝐩𝐚𝐫𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐏𝐫𝐞𝐜𝐢𝐨𝐮𝐬 𝐌𝐞𝐭𝐚𝐥𝐬

Demand for flotation reagents, such as sodium cyanide, has been increasing due to the decline in quality of gold and silver ores. Sodium cyanide, being cost-effective, is widely used in the extraction of gold. Furthermore, prices of gold have been fluctuating for the last few years. Therefore, manufacturers are focused on the extraction of gold from deeper mines that have been winding down. Consequently, there has been a surge in the demand for sodium cyanide.

Local and foreign investments in regions, such as Latin America, have been increasing, which in turn is driving the demand for reagents, such as sodium cyanide, for gold and silver extraction. Almost 90% of global gold production utilizes sodium cyanide. The gold ore, after being crushed into powder, is added to the sodium cyanide solution, which results in the strong bonding of gold molecules to sodium cyanide. The application of zinc then separates cyanide from gold, which results in the formation of solid gold. Thus, rise in use of sodium cyanide as a reagent in the mining industry propels the market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=46848

𝐂𝐲𝐚𝐧𝐢𝐝𝐞 𝐋𝐞𝐚𝐜𝐡𝐢𝐧𝐠 𝐡𝐚𝐬 𝐋𝐨𝐰𝐞𝐬𝐭 𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥 𝐈𝐦𝐩𝐚𝐜𝐭 𝐚𝐦𝐨𝐧𝐠 𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞 𝐆𝐨𝐥𝐝 𝐎𝐫𝐞 𝐏𝐫𝐨𝐜𝐞𝐬𝐬𝐢𝐧𝐠 𝐌𝐞𝐭𝐡𝐨𝐝𝐬

Cyanide leaching process has a lower environmental impact, as compared to other leaching chemicals available such as bromine, chlorine, and thiourea. Several other biological media are under consideration to recover gold from ores; however, no one has come up with a more cost-effective and productive method than leaching with cyanide

In certain circumstances, a few methods may show promise; however, for a good oxide gold ore, cyanide leaching is usually the best leach method for the recovery of yellow precious metal.

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐔𝐬𝐞 𝐨𝐟 𝐒𝐨𝐝𝐢𝐮𝐦 𝐂𝐲𝐚𝐧𝐢𝐝𝐞 𝐢𝐧 𝐌𝐢𝐧𝐢𝐧𝐠 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐭𝐨 𝐃𝐫𝐢𝐯𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

In terms of end-use industry, the global sodium cyanide market has been split into mining, dyes & pigments, chemical intermediates, pharmaceuticals, and others. Among these, the mining segment accounted for 78.8% share of the global sodium cyanide market in 2021. The segment is estimated to maintain its attractiveness during the forecast period, due to its suitability in various end-use areas. Sodium cyanide is commonly sold as either a liquid or solid briquette. Its strength, usually quoted on a molar basis, can range anywhere from 98% and above. Sodium cyanide powder is ideal for gold processing, as it is cost-effective, quick to process, and readily available.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐨𝐝𝐢𝐮𝐦 𝐂𝐲𝐚𝐧𝐢𝐝𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

In terms of volume, Asia Pacific held a notable share of 40.0% of the global sodium cyanide market in 2021. It is expected to remain a highly lucrative region during the forecast period due to rapid industrialization and rise in sodium cyanide use in pharmaceutical, mining, chemical, and dyes industries in the region. The market in Asia Pacific is expected to expand at a CAGR of 4.4% during the forecast period.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 -https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=46848

China is a key country of the sodium cyanide market in Asia Pacific, owing to the expansion of industries such as mining and chemical in the country. China is a major hub for chemical and medical-related products, which employ dyes, chemicals pests, and casting products, due to the latter's superior properties such as cost-effectiveness and efficiency compared to other alternatives.

Middle East & Africa constituted about 20% share of the global sodium cyanide market in 2021. The market in the region is estimated to expand at a CAGR of 3.6% during the forecast period. Europe and North America are attractive regions of the global market, led by a rise in industrial automation and technological reforms in the region. Europe offers immense potential for investors operating in the industry. The market size is small in the region; however, there exists vast potential for mining and other applied products due to the growth of the chemical industry in the region.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants.

The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭

Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website:https://www.transparencymarketresearch.com

This release was published on openPR.