Hyderabad, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Sodium Cyanide Market Report (2023-2028)," the market is estimated at 1.14 million kilotons billion in 2023. It is expected to register a CAGR of 4.06% during the forecast period.
Sodium cyanide is a white, deliquescent, poisonous, water-soluble, and crystalline powder that is prepared by heating charcoal and sodium amide together. It is used for functions like extracting gold from ore, chemical manufacturing, electroplating, and fumigation.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.14 million kilotons |
| Market Size (2028) | USD 1.39 million kilotons |
| CAGR (2023-2028) | 4.06% |
| Study Period | 2018-2028 |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Forecast Units | Volume (million kilotons) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increasing mining activities in Canada and Mexico. |
| Discovery of new mines. |
Who are the Top Companies in the Global Sodium Cyanide Market?
The sodium cyanide market is highly consolidated in nature. The top ten players in the market constitute around 60% of it.
A few significant players in the global sodium cyanide market are,
- Anhui Shuguang Chemical Group
- Australian Gold Reagents Pty Ltd
- Changsha Hekang Chemical Co. Ltd
- Cyanco International LLC
- Cyplus Gmbh
- Draslovka
- Hebei Chengxin Group Co. Ltd
- Jincheng Hongsheng Chemical Co. Ltd
- Orica Limited
- Taekwang Industrial Co. Ltd
- Tongsuh Petrochemical Corp. Ltd (Asahi Kasei Corporation)
- Unigel
- Ynnovate Sanzheng (Yingkou) Fine Chemicals Co. Ltd
Other Reports That Might Be of Your Interest:
- Ferric Chloride Market Report - The ferric chloride market is expected to register a CAGR of more than 5.00% during the forecast period (2023-2028).
- Sodium Chloride Market Report - The sodium chloride market is expected to register a CAGR of more than 5.00% during the forecast period (2023-2028).
Key Highlights from the Global Sodium Cyanide Market Report:
The Mining Segment Expected to Boost Market Demand
- A huge portion of the total quantity of sodium cyanide produced around the world is used in metallurgy and mining. Silver and gold are generally extracted using this process. Mining is the most.
- Sodium cyanide is the main part of the process of gold extraction from ore. The process involves crushing the ore using industrial machinery, which is popularly known as leeching.
Asia-Pacific is Predicted to Dominate the Market.
- Pertaining to the huge demand from the chemical and gold extraction industry, the demand of sodium cyanide has increased substantially in China over the years.
- China is the biggest producer of gold, having a share of around 9% of the total amount of gold produced around the world. The main reason for this is that in the Shandong province, mining activities have picked up pace after the pandemic.
Mordor Intelligence has Segmented the Global Sodium Cyanide Market Based on End-user Industry and Geography:
- By End-user Industry (Market Size and Forecast based on Volume (million kilotons), 2018-2028)
- Mining
- Chemical
- Other End-user Industries
- By Geography (Market Size and Forecast based on Volume (million kilotons), 2018-2028)
-
- Asia-Pacific
- China
- Australia & New Zealand
- Indonesia
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Russia
- CIS Countries (Excluding Russia)
- Rest of Europe
- South America
- Brazil
- Argentina
- Peru
- Rest of South America
- Middle East & Africa
- Ghana
- Sudan
- South Africa
- Rest of Middle East & Africa
-
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Sodium Cyanide Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Sodium Citrate Market Report - The sodium citrate market is expected to register a CAGR of more than 3.00% during the forecast period (2023-2028).
- Sodium Lauryl Sulfate Market Report - The sodium lauryl sulfate market is expected to register a CAGR of more than 4.00% during the forecast period (2023-2028).
- Africa Sodium Cyanide Market Report - The African sodium cyanide market is expected to register a CAGR of more than 3.00% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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