Hydrogen Cyanide Market 2023: Insights and Strategies by Industry Expert, 2032

The global hydrogen cyanide industry was valued at $1.2 billion in 2022 and is projected to reach $1.5 billion by 2032, growing at a CAGR of 2.2% from 2023 to 2032.

Hydrogen cyanide (commonly referred to as prussic acid) is an organic compound with the molecular formula HCN and the structural formula H+C+N. The liquid is colorless, highly toxic, and highly flammable. It boils at a temperature slightly higher than room temperature (25.6°C/78.1°F). HCN is manufactured on a commercial scale and is an essential raw material for a variety of chemical products, including polymers and pharmaceuticals. Potassium cyanide is a volatile organic compound with large-scale applications in the mining industry and plastics industry. Potassium cyanide is more toxic than a solid cyanide compound due to its volatile nature.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/20676

𝐏𝐫𝐢𝐦𝐞 𝐃𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐆𝐫𝐨𝐰𝐭𝐡:

The global hydrogen cyanide market is experiencing growth due to several factors such as an increase in demand for hydrogen cyanide from the pharmaceutical industry as hydrogen cyanide is widely utilized in the synthesis of pharmaceuticals, including sedatives, anesthetics, and analgesics, and an increase in demand for hydrogen cyanide from the agricultural sector. However, the health and safety risks associated with hydrogen cyanide hinder market growth to some extent. Moreover, increasing demand for HCN from the aerospace and defense industry offers remunerative opportunities for the expansion of the Hydrogen cyanide market.

𝐓𝐡𝐞 𝐡𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐜𝐲𝐚𝐧𝐢𝐝𝐞 𝐥𝐢𝐪𝐮𝐢𝐝 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝-

Based on product, the hydrogen cyanide liquid segment held the highest market share in 2022, accounting for around three-fifths of the global hydrogen cyanide market revenue and is expected to maintain its lead position throughout the forecast period. This can be attributed to the fact that hydrogen cyanide liquid is used in industrial processes and serves as a vital raw material to produce chemicals such as plastics. HCN liquid has a low boiling point and easily vaporizes at room temperature. It is also utilized in waste treatment and recycling applications, where its usage can help reduce pollution and promote eco-friendly practices. However, the hydrogen cyanide gas segment is projected to manifest the highest CAGR of 2.2% from 2023 to 2032. This can be attributed to the fact that hydrogen cyanide gas is used as a fumigant and insecticide in the agriculture industry. It is also employed in the treatment of stored grains and seeds to control pests and prevent spoilage.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/hydrogen-cyanide-market/purchase-options

𝐓𝐡𝐞 𝐚𝐝𝐢𝐩𝐨𝐧𝐢𝐭𝐫𝐢𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝-

Based on application, the adiponitrile segment held the highest market share in 2022, contributing to more than two-fifths of the global hydrogen cyanide market revenue, and is projected to maintain its leadership status during the forecast period. This is due to adiponitrile being a key chemical intermediate used in the production of nylon 6,6, which finds application in various industries including textiles, automotive, and electrical appliances. One of the primary drivers for adiponitrile is the increase in demand for nylon 6,6. Nylon 6,6 is known for its high strength, durability, and resistance to heat and chemicals, making it suitable for a wide range of applications. However, the Sodium cyanide and potassium cyanide segment is projected to manifest the highest CAGR of 2.5% from 2023 to 2032. The growth is attributed to the fact that sodium and potassium cyanide is used for gold extraction in the mining industry. They are also utilized in the production of a variety of chemicals, including pharmaceuticals, plastics, dyes, and pesticides. These industries have witnessed significant growth, driven by factors such as population growth, industrialization, and technological advancements, thereby propelling the demand for sodium cyanide and potassium cyanide.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟐-

Based on region, North America held the highest market share in 2022, accounting for more than two-fifths of the global hydrogen cyanide market revenue and is expected to maintain its dominance during the forecast timeframe. In North America, the hydrogen cyanide market is driven by several key factors such as an increase in demand for chemical intermediates in various industries, including pharmaceuticals, plastics, and agriculture. In addition, the growing adoption of hydrogen cyanide in mining applications and the expanding chemical manufacturing sector contribute to the market growth in the region. On the other hand, the Asia-pacific region would showcase the fastest CAGR of 2.3% during the forecast period.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

- Air Liquide

- Evonik Industries AG

- INEOS

- Sumitomo Chemical Co., Ltd.

- Ascend Performance Materials

- Cyanco International, LLC

- Cornerstone Chemical

- Asahi Kasei Corporation.

- Mitsubishi Gas Chemical Company, Inc.

- Kuraray Co., Ltd.

The report provides a detailed analysis of these key players in the global hydrogen cyanide market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/hydrogen-cyanide-market-A20226

Contact:

David Correa

United States

1209 Orange Street,

Corporation Trust Center,

Wilmington, New Castle,

Delaware 19801 USA.

Int'l: +1-503-894-6022

Toll Free: +1-800-792-5285

Fax: +1-800-792-5285

help@alliedmarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.