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Sodium Cyanide Market

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Sodium Cyanide Market report categorizes global market by type, and end-user - Global Industry Insights, Trends, Outlook and Opportunity Analysis 2018-26
Sodium Cyanide Market - Global Industry Insights,
Trends, Outlook and Opportunity Analysis 2018-2026
Sodium cyanide is a white, water-soluble solid inorganic. Sodium cyanide is used for
the isolation of precious metals, as it is an excellent reagent for mining. It has a high
affinity for metals making it salt toxic. When it is treated with acid, it forms the toxic
gas – hydrogen cyanide. Sodium cyanide is produced by the Andrussow method
involving the use of ammonia, air, natural gas, and caustic soda. The reaction of
ammonia with natural gas and air over platinum produces hydrogen cyanide gas,
which is found to be toxic.
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The sodium cyanide market is driven by the growing demand from the precious
metals mining industry due to the demand of precious metals with escalating prices.
However, stringent regulations due to its high toxicity are expected to hamper market
growth. Increasing delays and impediments in starting up large-scale projects are
projected to impact consumption, as investment in capital costs do. The high cost of
extracting gold proves to be another major hindrance to the sodium cyanide market.
Solid sodium cyanide is white in color and water soluble. Sodium cyanide is also
used as a chemical intermediary, especially at locations where there is a scarcity of
hydrogen cyanide. Sodium cyanide can be easily transported and stored. It is used
in the production of nitriles, which are used in various chemicals, including
pharmaceuticals. The growth of the sodium cyanide market is expected to continue
due to the continuous mining of gold. People are looking to invest more in gold due
to the fluctuating global financial conditions, thus creating high demands for gold.
However, mining companies are experiencing difficulties in meeting the global gold
demands.
Sodium Cyanide Market Outlook
In North America, sodium cyanide is used on a large scale for gold extraction. The
U.S. being a major gold market, makes use of sodium cyanide on a large-scale for
gold production. In Europe, sodium cyanide is predominantly used in the chemical
industry. Countries in Central and Eastern Europe, Kazakhstan, and Russia plan to
build new plants to increase its sodium cyanide production in order to decrease its
dependency on other countries. This region is projected to become a little less
dependent on imports from South Korea and China, in the near future.
In Asia, India and China are major gold producing countries. Hence, the use of
sodium cyanide is driven by these countries, due to growing the local and global
demand for gold. Japan uses sodium cyanide mainly for its chemical purposes.
Australia and South Korea are major sodium cyanide exporters. China is also likely
to increase capacity over the next five years, by setting up new plants.
In Africa, gold is produced on a large scale, hence there is a great demand for
sodium cyanide market in this region. In the Middle East, plans to build a new
capacity sodium cyanide plant in Saudi Arabia are on hold, due to which the Middle
East is still dependent on sodium cyanide imports.
Some major sodium cyanide producers 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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apeksha motghare
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