Press release
Hydrogen Cyanide Market is bound to Exhibit Comprehensive Growth - DataM Intelligence
Hydrogen Cyanide Market - DataM intelligence
Global Hydrogen Cyanide Market is Expected to reach a high CAGR during the forecasting period of 2022 - 2029.
Hydrogen cyanide (HCN), in some cases called prussic acid, is a chemical compound with the chemical formula HCN. It is a colorless, extremely poisonous, and flammable liquid that boils slightly above room temperature, at 25.6 °C (78.1 °F). HCN is produced on an industrial scale and is a highly valuable precursor to many chemical compounds ranging from polymers to pharmaceuticals. Hydrogen cyanide is found in the smoke of different tobacco items and is additionally discharged by burning nitrogen-containing natural materials. Hydrogen cyanide is utilized to make sodium cyanide and potassium cyanide, utilized chiefly in gold and silver digging and for the electroplating of those metals.
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Market Dynamics:
Increasing demand for the manufacturing of sodium cyanide and potassium cyanide and increasing applications of HCN in Adiponitrile production are the major drivers of the market's growth. The massive demand for the production of sodium cyanide and potassium cyanide is driving the market for Hydrogen cyanide. Potassium Cyanide and Sodium Cyanide are widely used in organic synthesis for the production of nitriles and carboxylic acids.
However, these are used mainly in gold and silver mining, and also for electroplating of these materials. With the increasing investments in gold and silver, global gold and silver production is continuously increasing. Global gold production increased from 2730 tonnes in 2012 to 3247 tonnes in 2017, and it is expected to rise at more pace during the forecast period. The increasing gold production will call for more production of sodium cyanides and potassium cyanides.
Increasing applications of adiponitrile are another key driver for the global HCN market as approximately 90% of HCN is used as a raw material for adiponitrile which is in turn used in producing nylon 66 for fiber and plastic production. Adiponitrile is a colorless organic liquid compound used for the synthesis of hexamethylenediamine, which is used for the production of polymer nylon 6-6. Adiponitrile is used in various applications such as carpet fibers, conveyor belts, electro-insulating elements, plastic industry, automotive industry, and strings in musical instruments, tire cords, textile industry, and ropes. The growing use of Adiponitrile in the plastic, fiber, and textile industries is expected to fuel market demand over the forecast period. Moreover, increasing demand from the plastics and automotive sector for nylon 6-6 will be the key driver for rising demand over the projected period.
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Market Segmentation:
By Production Process
• Andrussow Process
• BMA
By Application
• Sodium Cyanide and Potassium Cyanide
• Acrylonitrile
• Cyanogen chloride
• Acrylates and Methacrylates cyanide
Major Companies:
Some of the key market players are Asahi Kasei, Ascend Performance Materials Operations LLC, Evonik Industries, Cornerstone Chemical Company, Sinopec, Bluestar Adisseo, BP Chemicals, Sumitomo Chemical, Dow-DuPont, INEOS Group Holdings S.A. and Taekwang Industrial Co., Ltd.
Companies are expanding their production capacities to meet increasing demand from consumers. Manufacturers are adopting by-product management and re-utilization strategies in their production lines to increase their revenues.
On August 01, 2018, Ascend Performance Materials, the largest fully integrated producer of nylon 6,6 resin, purchased Britannia Techno Polymer.
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