Gold Potassium Cyanide Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Gold Potassium Cyanide Market Analysis
During the time frame of the forecast, the gold potassium cyanide market is expected to register a CAGR of over 3%.
The gold potassium cyanide market was negatively impacted by the COVID-19 pandemic. Due to nationwide lockdowns, strict social distancing measures, disruptions in the supply chain, and worldwide shutdowns of factories and industries, the electronics market suffered, which in turn affected the growth of the gold potassium cyanide (KCN) market. Manufacturers operating in countries under lockdown were forced to shut down entire production facilities, while the global impact on employment, income, and general consumption negatively impacted demand for consumer electronics, which in turn negatively affected the growth of the gold potassium cyanide market.
- Over the next five to ten years, the growth of the gold potassium cyanide market will be affected by how much gold is used for electroplating and how much demand there is for electronic equipment and other technological products.
- On the flip side, the fact that GPC is a highly toxic substance as well as the fluctuation in its price are major challenges expected to hinder the market growth of gold potassium cyanide during the forecast period. Also, the COVID-19 pandemic was likely to cut short-term demand for GPC because it would cause a sharp drop in commercial production in many end-user industries.
- Significant investment in R&D activities will create new opportunities in the market.
- Asia-Pacific is expected to have the largest share of the global market. This is because countries like China, Japan, and South Korea are making more progress in their electronic industries, and India and China are increasing their demand for precious metals like gold, which makes up a big part of the global demand for gold.
Gold Potassium Cyanide Market Trends
This section covers the major market trends shaping the Gold Potassium Cyanide Market according to our research experts:
Growing Demand from Electronics and Metal Plating Industries
- Gold potassium cyanide (KCN) is an important gold source used in electrolytic gold plating and electroplating of other metals. KCN also finds applications in electronic devices because of its excellent properties.
- Gold electroplating is mostly carried out to obtain long-lasting decorative finishes and, in some cases, to improve electric contact and conductivity. Jewelry, fancy goods such as handbags, optical frames, power compacts, and costumes, jewelry pen cases, and plumbing fixtures are a few applications of gold electroplating. Since the COVID-19 strike, global gold jewelry demand has slowed, resulting in a 7% decrease in consumption in the first quarter of 2022.However, in Q2 2022, the demand for gold jewelry was 4% higher year over year at 453 t, which is still below the pre-pandemic quarterly levels.
- The properties of electroplated gold coatings are high conductivity, excellent resistance to corrosion, low contact resistance, and a remarkable ability to form very good thermocompression bonds.
- Due to these properties, the electronic industry has a strong relationship with KCN. KCN has become a valuable element in the fabrication of microelectronic and electronic devices such as calculators, transistors, and diodes.
- Larger items such as heat sinks, heaters, springs, wire connectors, and printed circuits are the common applications for gold potassium cyanide.
- In the short term, the outbreak of COVID-19 in all regions was expected to reduce demand for gold potassium cyanide from the metal and electronic industries.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific is expected to have the most of the world's market because China, Korea, and Japan have very advanced electronics industries, and countries like India are buying more precious metals like gold.
- Electronic component manufacturing Industries have been consuming KCN for different applications, such as flexible printed circuits and printed circuit boards, semiconductors, diodes, and other electronic chips that are used in electronic devices.
- According to the World Gold Council (WGC), China will be the world's largest consumer of gold in 2022. In 2021, China's gold consumption will rise by 56% year on year compared to the previous year.The annual gold consumption was 960.12 tons in 2021.
- The luxury watches and jewelry segment stands out and is also the fastest-growing segment in the consumption of gold. This reason is expected to increase the demand for KCN in the Asia-Pacific region.
- Increasing urbanization and growing connectivity, as well as the use of advanced technology in making safety technologies and infotainment systems, are all things that are driving up the demand for KCN from different electronic devices.
- Growth in the aerospace, metal plating, and electronic end-user industries in the Asia-Pacific region is expected to drive the market for gold potassium cyanide in the years to come.
- In the coming years, the market for gold potassium cyanide is likely to be driven by the continued growth of the medical industry and the rising demand from the auto, aerospace, and defense industries.
Gold Potassium Cyanide Industry Overview
The gold-potassium cyanide market is highly fragmented. Some of the major companies are Alfa Aesar, Thermo Fisher Scientific, Spectrum Chemical Manufacturing Corp., Bangalore Refinery, METALOR Technologies SA, and LEGOR GROUP S.p.A., among others.
Gold Potassium Cyanide Market Leaders
Alfa Aesar, Thermo Fisher Scientific
Spectrum Chemical Manufacturing Corp
Bangalore Refinery
METALOR Technologies SA
LEGOR GROUP S.p.A.
*Disclaimer: Major Players sorted in no particular order
Gold Potassium Cyanide Market News
- November 2022: Besra Gold Inc announced its agreement with Quantum Metals Recovery Inc which will come into effect from January 2023. As per the agreement, Quantum Metals Recovery Inc will provide an amount of USD 300 million in financial support through the gold offtake purchase facility. The agreement consent between both companies would enable advancement in exploration and development planning for gold.
- March 2022: Spectrum Chemical a leading global provider of fine chemicals, laboratory equipment, and supplies announced the launch of 12 new products to its rapidly growing bioCERTIFIED quality management system and chemicals portfolio for biopharmaceutical manufacturing.
Gold Potassium Cyanide Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Applications for Electroplating of Gold
4.1.2 Growing Demand from the Electronics Industry
4.2 Restraints
4.2.1 High Toxic Nature and Impact of COVID-19 Pandemic
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Type
5.1.1 Low Purity
5.1.2 High Purity
5.2 Applications
5.2.1 Electroplating of Metals
5.2.2 Decorative Costume Jewellery
5.2.3 Electronic Devices
5.2.4 Watches
5.2.5 Other Applications
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Alfa Aesar, Thermo Fisher Scientific
6.4.2 Bangalore Refinery
6.4.3 Innova Corporate
6.4.4 LEGOR GROUP S.p.A.
6.4.5 Mahavir Expochem Ltd
6.4.6 Parekh Industries Ltd.
6.4.7 Prominex Precious Mineral Resources
6.4.8 Spectrum Chemical Manufacturing Corp
6.4.9 METALOR Technologies SA
6.4.10 Umicore Electroplating
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Gold Potassium Cyanide Industry Segmentation
Gold potassium cyanide is a gold extraction formula with a weight ratio of approximately 68.2 percent. It is represented by the formula KCN. Because of its formula, KCN, gold potassium cyanide is commonly used in plating electronic equipment. Gold-potassium cyanide is used in the manufacturing process of electronic equipment, jewelry, and other products. Gold potassium cyanide is a very important gold source in electrolytic gold plating and is also known as GPC or PGC. Industrial gold potassium cyanide preparation necessitates a high rate of dissolution as well as a smooth dissolution. The gold potassium cyanide market is segmented by type, application, and geography. By type, the market is segmented into low purity and high purity. By application, the market is segmented into the electroplating of metals, decorative costume jewelry, electronic devices, watches, and other applications. The report also includes market size and forecasts for the gold potassium cyanide market in 15 major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).
| Type | |
| Low Purity | |
| High Purity |
| Applications | |
| Electroplating of Metals | |
| Decorative Costume Jewellery | |
| Electronic Devices | |
| Watches | |
| Other Applications |
| Geography | |||||||
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Gold Potassium Cyanide Market Research FAQs
What is the current Gold Potassium Cyanide Market size?
The Gold Potassium Cyanide Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Gold Potassium Cyanide Market?
Alfa Aesar, Thermo Fisher Scientific, Spectrum Chemical Manufacturing Corp, Bangalore Refinery, METALOR Technologies SA and LEGOR GROUP S.p.A. are the major companies operating in the Gold Potassium Cyanide Market.
Which is the fastest growing region in Gold Potassium Cyanide Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Gold Potassium Cyanide Market?
In 2024, the Asia-Pacific accounts for the largest market share in Gold Potassium Cyanide Market.
What years does this Gold Potassium Cyanide Market cover?
The report covers the Gold Potassium Cyanide Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Gold Potassium Cyanide Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Gold Potassium Cyanide Industry Report
Statistics for the 2024 Gold Potassium Cyanide market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Gold Potassium Cyanide analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
