According to a new report by Expert Market Research titled, ‘Global Sodium Cyanide Market Report and Forecast 2020-2025’, the global demand for sodium cyanide reached a volume of around 855.7 thousand metric tons in 2019. The market demand is further expected to grow at a CAGR of 4.1% between 2020 and 2025 to attain a volume of around 1089 thousand metric tons by 2025.
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The global sodium cyanide market is being aided by the growing mining activities, especially in the developing nations, coupled with the advancing technological developments. The Asia Pacific is the leading market for the product, accounting for nearly half the global supply of sodium cyanide, owing to the growing electroplating industry and rapid increase in mining activities in the region. The Asia Pacific is the largest exporting region of sodium cyanide. Within the Asia Pacific, China, being a major market for the product, accounts for a high domestic demand for sodium cyanide. After the Asia Pacific, North America is the leading supplier and exporter of the substance, majorly exporting to countries in Latin. In North America, the market is growing due to the surplus capacity of sodium cyanide in the region.
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With the growing demand for precious metals, the mining activities have also increased, which is aiding the global market for sodium cyanide. In June 2017, the Chemours Company (Chemours) (NYSE: CC), a key player in the market, started the construction of a new Chemours Mining Solutions manufacturing facility in the state of Durango, Mexico, investing around USD 150 million in the project. Chemours is the world’s largest producer of solid sodium cyanide, essential in mining operations, and this new facility will provide a safe and reliable supply to the mining industry in Mexico, further aiding in the growth of the sodium cyanide industry, globally.
Market Breakup by Application:
- Mining (Extraction)
Market Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Findings of the Report:
- The growing mining activities, especially in the emerging economies, are leading to the growth of the global tablet coatings industry.
- The growing electroplating industry coupled with increasing urbanisation and rising disposable incomes, is further propelling the industry forward.
- Increased demand for precious metals is providing a further impetus to the market.
- The growing demand from the application sectors for producing chemical intermediates and other materials is further supporting the industry growth.
Key Offerings of the Report:
- The Expert Market Research report gives an overview of the global sodium cyanide industry for the periods (2015-2019) and (2020-2025).
- The report also offers historical (2015-2019) and forecast (2020-2025) information for the regional markets of sodium cyanide.
- An analysis of the regional price trends has been provided for the (2015-2019) and (2020-2025) periods.
- The report also looks in-depth into the trade data, covering the leading exporting and importing market, along with their value and volume.
- It also provides an assessment of the market based on the Porter’s Five Forces model, along with a SWOT and value chain analysis.
Competitive Landscape & SuPlier Analysis:
- Anhui Shuguang Chemical Group
- Cyanco Corporation
- Chemours Company (NYSE: CC)
- Orica Limited (ASX: ORI)
- TAEKWANG Industrial Co., ltd. (KRX: 003240)
- CyPlus GmbH
- Tongsuh Petrochemical Corp., Ltd
- Sasol Polymers Ltd
- Australian Gold Reagents Pty Ltd
- Unique Chemical Limited
Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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