The global Sodium Cyanide Market is estimated to be valued at US$ 2452.82 Mn or Million in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: -
Sodium cyanide is an inorganic compound represented by the chemical formula NaCN. It is a highly soluble white crystalline solid. Sodium cyanide is used majorly in mining and metallurgy industries for gold and silver extraction. Gold and silver are present in very low concentrations in their ores and require an efficient leaching agent to extract them. Sodium cyanide acts as an excellent leaching agent to dissolve and separate gold and silver from their ores when combined with certain chemicals and oxygenated water. It helps leach gold and silver out faster and more efficiently than any other alternative reagent. This has increased the demand for sodium cyanide in mineral extraction over the years.
Market key trends: -
One of the key trends in the sodium cyanide market is the growing gold mining industry. Gold production has witnessed a significant increase over the past few years owing to rising investment in gold mining projects and discoveries of new gold reserves. According to data from the World Gold Council, global gold mine production increased from over 2800 tonnes in 2010 to approximately 3200 tonnes in 2020. This rising gold production has positively influenced the demand for sodium cyanide, which acts as the primary leaching agent for gold extraction. The market is expected to gain further momentum over the forecast period owing to increasing gold mining activities across key markets.
Porter’s Analysis: -
- Threat of new entrants: - The sodium cyanide market has high capital requirements which act as an entry barrier for new players.
- Bargaining power of buyers: - The buyers have low bargaining power due to availability of limited substitutes of sodium cyanide.
- Bargaining power of suppliers: - The suppliers have moderate bargaining power due to availability of a number of suppliers in the market.
- Threat of new substitutes: - There exists a low threat from substitutions as sodium cyanide has very few economical alternatives.
- Competitive rivalry: - The competitive rivalry in the sodium cyanide market is high.
Key Takeaways: -
The Global Sodium Cyanide Market Growth is expected to witness high, exhibiting CAGR of 5.4% over the forecast period, due to increasing demand from gold mining industry.
Regional analysis: - Asia Pacific dominates the global sodium cyanide market and is expected to continue its dominance over the forecast years. This is attributed to robust growth in mining industry of countries like China and Australia in the region. North America is expected to grow at a steady pace owing to rising gold production.
Key players: - Key players operating in the sodium cyanide market are Cyanco Corporation, E. I. du Pont de Nemours and Company, Australian Gold Reagents, Orica Limited, Evonik Industries AG, Taekwang Industrial, Tongsuh Petrochemical, Anhui Shuguang Chemical, Unique Chemical. Cyanco Corporation and E. I. du Pont de Nemours and Company captured majority share of the sodium cyanide market.
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The Global Sodium Cyanide Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.The report classifies the market into different segments based on type and application.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global Sodium Cyanide Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/18070-sodium-cyanide-market-reportThe report also covers the complete competitive landscape of the worldwide market with company profiles of key players such as:AnQoreAustralian Gold Reagents Pty Ltd.Cyanco CorporationCyPlus GmbHKorund LLcNippon Soda Co., Ltd.OJSC LukoilOrica LimitedTaekwang Industrial Co., Ltd.The Chemours CompanyA detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT:By Type:Solid Sodium CyanideLiquid Sodium CyanideBy Application:Mining IndustryChemical IndustryDye And Textile IndustryElectroplating IndustryOtherBy Geography:North America (NA) – US, Canada & Rest of North AmericaEurope (EU) – UK, Germany, France & Rest of EuropeAsia Pacific (APAC) – China, Japan, India & Rest of APACLatin America (LA) – Brazil & Rest of Latin AmericaMiddle East & Africa (MEA) – Middle East and AfricaDownload Free Sample Report of Global Sodium Cyanide Market @ https://www.decisiondatabases.com/contact/download-sample-18070The Global Sodium Cyanide Market has been exhibited in detail in the following chapters –Chapter 1 Sodium Cyanide Market PrefaceChapter 2 Executive SummaryChapter 3 Sodium Cyanide Industry AnalysisChapter 4 Sodium Cyanide Market Value Chain AnalysisChapter 5 Sodium Cyanide Market Analysis By TypeChapter 6 Sodium Cyanide Market Analysis By ApplicationChapter 7 Sodium Cyanide Market Analysis By GeographyChapter 8 Competitive Landscape Of Sodium Cyanide CompaniesChapter 9 Company Profiles Of Sodium Cyanide IndustryPurchase the complete Global Sodium Cyanide Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-18070Other Reports by DecisionDatabases.com:Global Sodium Chloride Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Sodium Lactate Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Sodium Percarbonate Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.
Pegged to surpass a value pool of nearly US$ 3 Bn by the end of the forecast period (2019-2027), sodium cyanide is primarily used as a reagent in the mining & metallurgy industry for isolation of precious metals.
It is used for efficient extraction of gold from low-grade ore.
Sodium cyanide demand has received a significant uptick in the past five years owing to fluctuation in gold prices.
In Europe and Japan, sodium cyanide market is driven by chelate production, animal feed, dyes & pigments and chemical intermediates vis-a-vis gold consumption.
On this backdrop the global sodium cyanide market is projected to grow at a CAGR of over 4% during the forecast period (2019-2027).In a recent business intelligence study, Fact.MR presents the nitty-gritty of the global sodium cyanide market considering 2014-2018 as the historic year and 2019–2029 as the stipulated timeframe.
Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.The sodium cyanide market study outlines the key regions – Latin America, North America, MEA, Europe and APEJ – along with the countries contributing the most in the respective regions.
The “Global Sodium Cyanide Market” report offers compound growth from the base year and projected until 2026.
The report is further fragmented on the basis of segmentation that involves product type, application, and geography.
Esticast Research and Consulting provides accurate market size and forecast in relation to the major five regions.
The ADS-B implementation by various countries worldwide and ADS-B as an economical alternative for TCAS and ACAS are expected to offer growth opportunities in the upcoming years.For Better Understanding, Try Sample PDF Brochure of Report (including full TOC, Tables and Figures) @ https://www.esticastresearch.com/report/sodium-cyanide-market/#request-for-sampleMarket OverviewThe research report covers various developments across the geography of the Sodium Cyanide market based on the tools of organic as well as inorganic growth strategies.
The market report presented provides key statistics based on the past and current status of the market coupled with key trends and opportunities.The report not only analyses factors responsible for impacting the Sodium Cyanide market on the basis of the value chain but also evaluates industry forces that will highlight the market in the coming years.
The secondary based tools cover a wide spectrum of regions but focuses on key regions that include North America, Europe, Asia Pacific, Middle East, South America, and the Middle East Africa (MEA).What the report features:Forecast and analysis of the global Sodium Cyanide market by the integration of opportunities, applications, market trends, from 2019-2026.Global analysis of the Sodium Cyanide market by a noteworthy progression of the market.Forecast and analysis of global Sodium Cyanide market in five major regions namely Middle East, South America, and the Middle East Africa (MEA), North America, Europe, and the Asia Pacific.List of the Key Players of Sodium Cyanide:American ElementsAsahi Kasei CorporationAustralian Gold Reagents Pty LtdChangsha Hekang Chemical Co., Ltd.Chemicals LimitedCyancoDraslovka Holding B.V.Evonik Industries AGGujarat AlkaliesOrica LimitedPJSC LUKOILSasol LimitedTaekwang Industry Co, Ltd.The Chemours CompanyWesfarmers Limited.
