Sodium Cyanide Market

Sodium Cyanide Market - Size, Share, Outlook and
Opportunity Analysis 2018-2026
Sodium cyanide (NaCN) is an inorganic poisonous solid with high affinity for
metals. It is used as a raw material in pharmaceuticals, dyes and pigments,
agrochemicals, and metal industries. It is also used as an insecticide due to its
toxicity and finds application in analytical testing. The International Cyanide
Management Code for the Manufacture, Transport and Use of Cyanide in the
Production of Gold, also referred to as the Cyanide Code, is a voluntary
program designed to assist the global gold mining industry. It also helps the
producers and transporters of cyanide used in gold mining in improving cyanide
management practices, and to publicly demonstrate their compliance with the
Cyanide Code through an independent and transparent process.
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Among end users, the mining industry segment accounts for the largest share in
the global sodium cyanide market. NaCN is used in mining for extraction of
gold and other expensive metals. Gold being a least reactive metal shows high
affinity for cyanide, causing it to oxidize and dissolve in the presence of oxygen
and water. Moreover, the chemical industry segment was the fastest growing
segment in the global sodium cyanide market in 2017, owing to a wide range of
applications of NaCN in chemical synthesis. Cyanuric chloride, cyanogen
chloride, and various types of nitriles are some of the extensively used chemical
compounds that are derived from NaCN through various reactions.
Major players operating in the global sodium cyanide market include, Cyanco,
E. I. DuPont, Australian Gold Reagents, Orica, Evonik, Taekwang Industrial,
Tongsuh Petrochemical, Anhui Shuguang Chemical, Korund, Yingkou
Sanzheng, Sasol Polymers, Unique Chemical, Tiande Chemical, Lukoil, Hebei
Chengxin, Sinopec, and DSM.
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The global sodium cyanide market was pegged at 1100 kilo tons in 2017, and is expected to register a CAGR of 6.1% in terms of volume over the forecast period (2018 – 2026), to reach 2000 kilo tons by 2026.