Covina, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Sodium Cyanide (NaCN) is a toxic inorganic solid that has a strong affinity for metals. Sodium Cyanide is commercially used for electroplating, fumigation, chemical manufacturing, extracting gold and silver from ores, etc. Pharmaceuticals, dyes & pigments, agrochemicals, and metal industries all use it as a raw ingredient. Because of its toxicity, it is also utilized as a pesticide and in analytical testing. The International Cyanide Management Code for the Manufacture, Transport, and Use of Cyanide in Gold Production, often known as the Cyanide Code, is a voluntary initiative aimed at assisting the global gold mining sector. It also assists gold mining cyanide producers and transporters in developing cyanide management techniques and publicly demonstrating compliance with the Cyanide Code through an impartial and transparent process. Sodium Cyanide has many roles medicine and industries. In medicinal sector, cyanide is found in widely used antihypertensive sodium nitroprusside in which each molecule contains 5 ions of cyanide. In industrial sector, cyanide is used in manufacturing, pesticides and thus, found in several industrial chemicals. Sodium Cyanide is used in Perkin reaction. Sodium cyanide is used as an intermediate in the manufacture of jewelers, vitamins, adhesives, computer electronics, fire retardants, aircraft brakes, cosmetics, nylon dyes, nail polish removers, paints, plexiglass, pharmaceuticals, rocket propellants. Sodium cyanide is known by many different names such as cyanobric, cyanide of sodium, cyanide salt or cyanogen, it is sodium salt as well as a one-carbon compound. It is an inorganic compound, because it is a specific chemical compound that does not have established carbon and hydrogen bonds. Metal refining has also become the major factor in target market growth. However, wide variety of applications has given positive impact on target market growth.
The report “Sodium Cyanide Market, By Type (Solid Sodium Cyanide and Liquid Sodium Cyanide), By Application (Mining, Chemical Industry, Pharmaceutical Industry and Dyes & Pigments), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032’’
Key Highlights:
- In April 2022, Australian Gold Reagents has poised to expand its sodium cyanide production for supporting growing demand for gold globally. Significant expansion of new plant is planned for construction in Kwinana, Western Australia. This expansion will help in consolidating company’s position as a high-quality supplier with strong commitment to safety, innovation and environment. The expansion of new plant is expected to deliver improved sustainability by low risk, efficiencies, carbon emission reduction and water recycling.
- In April 2022, LUKOIL is to continue the development of petrochemistry projects in Saratov. The Saratovorgsintez LLC petrochemical plant a wholly owned PJSC LUKOIL subsidiary is the only Russian manufacturer of acrylonitrile, acetonitrile and major manufacturer of sodium cyanide. The plant is developing projects for construction of new units for increasing production volume and improving efficiency.
- In 2022, Green synthesis of sodium cyanide by using hydrogen cyanide extracted under vacuum from Cassava leaves. This study was carried out for developing new green approach for synthesizing sodium cyanide extracted from cassava leaves after maceration for 120 min at 30 degree celcius and 45 min of recovery under vacuum at 35 to 40 degree celcius. The study has described the successful production of sodium cyanide by saturation of sodium hydroxide absorbing solution using HCN (hydrogen cyanide) extracted from cassava leaves.
Analyst View:
The key factor driving the growth of the Sodium Cyanide Market is expansion of pharmaceutical industries, technological advancement and rising demand for precious metals like gold and silver with increased emphasis by miners on reduction of product cost. Sodium cyanide is widely used in electroplating applications. Thus, the increasing use of gas in electroplating activities has increased the demand for sodium cyanide, which has fueled the growth of the target market. Sodium Cyanide has become the ideal choice in gold processing because of its fast leaching speed, easy availability and cost-effective, etc. However, wide variety of applications of sodium cyanide and growing demand for metals for both commercial and non-commercial applications is expected to boosts the demand for target market growth over the forecast period. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.
Request Free Sample: https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/2467
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Sodium Cyanide Market, By Type (Solid Sodium Cyanide and Liquid Sodium Cyanide), By Application (Mining, Chemical Industry, Pharmaceutical Industry and Dyes & Pigments), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032’’
To know the upcoming trends and insights prevalent in this market, click the link below:
https://www.prophecymarketinsights.com/market_insight/Global-Sodium-Cyanide-Market-By-2467
Key Market Insights from the report:
Sodium Cyanide Market accounted for US$ 2.3 billion in 2022 and is estimated to be US$ 4.1 billion by 2032 and is anticipated to register a CAGR of 5.4%. The Sodium Cyanide Market is segmented based on type, application and region.
- Based on Type, Sodium Cyanide Market is segmented into Solid Sodium Cyanide and Liquid Sodium Cyanide.
- Based on Application, Sodium Cyanide Market is segmented into Mining, Chemical Industry, Pharmaceutical Industry and Dyes & Pigments.
- By Region, the Sodium Cyanide Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of Sodium Cyanide Market:
The prominent players operating in the Sodium Cyanide Market includes, Evonik, Cyanco, American Elements, Australian Gold Reagents, Orica Limited, Hebei Chengxin Co. Ltd., Tongsuh Petrochemical, Chemours, Hindustan Chemical Company, and others.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Scope of the Report:
- Global Sodium Cyanide Market, By Type
- Overview
- Market Value and Forecast (US$ Kn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Solid Sodium Cyanide
- Overview
- Market Size and Forecast (US$ Kn), and Y-o-Y Growth (%), 2020 – 2030
- Liquid Sodium Cyanide
- Overview
- Market Size and Forecast (US$ Kn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Sodium Cyanide Market, By Application, 2020 – 2030, (US$ Kn)
- Overview
- Market Value and Forecast (US$ Kn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Mining
- Overview
- Market Size and Forecast (US$ Kn), and Y-o-Y Growth (%), 2020 – 2030
- Chemical Industry
- Overview
- Market Size and Forecast (US$ Kn), and Y-o-Y Growth (%), 2020 – 2030
- Pharmaceutical Industry
- Overview
- Market Size and Forecast (US$ Kn), and Y-o-Y Growth (%), 2020 – 2030
- Dyes &Pigments
- Overview
- Market Size and Forecast (US$ Kn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
Request Cutomization: https://www.prophecymarketinsights.com/market_insight/Insight/request-customization/2467
About Prophecy Market Insights
Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.
Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Browse Related Reports:
