Sodium Cyanide Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Sodium Cyanide Market is segmented by End-user Industry (Mining, Chemical, and Other End-user Industries) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons).

Market Snapshot

Sodium Cyanide Market Report
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: North America
Largest Market: Asia Pacific
CAGR: >6 %
Sodium Cyanide Market Key Players

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The sodium cyanide market was valued at more than 1,100 kilotons in 2021, and the market is projected to register a CAGR of more than 6% during the forecast period (2022-2027).

The impact of COVID-19 on the global sodium cyanide market has largely been negated, and the market has now reached pre-pandemic levels.

  • Over the medium term, the major factors driving the growth of the market studied are the increasing mining activities in Canada and Mexico and the demand from the gold mining industry.
  • On the flip side, the toxicity of sodium cyanide hampers the growth of the market studied.
  • The mining industry dominated the market, and it is likely to grow during the forecast period with the continuous growth in mining activities.
  • Due to the growing mining activities in the region, Asia-Pacific dominated the market, and robust demand from the end-user industry fuelled the growth.

Scope of the Report

Sodium cyanide is a colorless sodium salt, and its crystals belong to the cubic crystal system. Its aqueous solutions are strongly basic due to the presence of cyanide ions. The sodium cyanide market is segmented by end-user industry and geography. By end-user industry, the report also covers the market size and forecasts for the market in 12 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons).

End-user Industry
Mining
Chemical
Other End-user Industries
Geography
Asia-Pacific
China
Australia & New Zealand
Indonesia
Rest of Asia-Pacific
North America
United States
Canada
Rest of North America
Europe
Russia
CIS Countries (Excluding Russia)
Rest of Europe
South America
Brazil
Argentina
Peru
Rest of South America
Middle-East and Africa
Ghana
Sudan
South Africa
Rest of Middle-East and Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Mining Segment to Dominate the Market Demand

  • A major portion of the sodium cyanide produced worldwide is used in mining and metallurgy, especially in extracting gold and silver. It is one of the most economically viable, easily processable, and environmentally sustainable technologies for gold processing.
  • Typically, gold is extracted from its ore using sodium cyanide through leeching. The ore is crushed into a fine powder using industrial machinery in this process. Then, the dust is added to a sodium cyanide solution (NaCN) and allowed to process.
  • Canada is one of the global leaders in mining operations, actively producing more than 60 metals and minerals. The country is the fifth-largest gold producer in the world.
  • For instance, in January 2020, the federal government announced to spend around USD 500,000 to promote northern mining, especially in Yukon, the Northwest Territories, and Nunavut.
  • Apart from the North American region, Africa has abundant mineral sources, making it a hub for the global mining industry. Apart from South Africa, which has a major mining industry, countries like Ghana, Mali, and Burkina Faso, have rapidly growing mining industries.
  • All the above reasons are responsible for the mining segment to dominate the sodium cyanide market in the forecast period (2022-2027).
Sodium Cyanide Market Trends

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share. With the robust demand from the gold extraction and chemical industry, the demand for sodium cyanide in Asia-Pacific, primarily in China, has increased faster.
  • China is the largest producer of gold across the world. The country produced 368 tons of gold in 2021.
  • Besides, China stands to be the second-largest producer of copper, bauxite, manganese, cobalt, and silver. It also produces gem diamond, chromium, and timber.
  • Such factors are likely to boost the demand for sodium cyanide in China during the forecast period.
  • Australia is the second-largest producer of gold in Asia and the third-largest globally. The gold production in the country reached 328 tons in 2021. The country is estimated to overgrow China in terms of production in the near future, primarily due to the expansion plans.
  • Moreover, as Indonesia holds immense mineral reserves, the government has been promoting investments by offering domestic and foreign investors attractive opportunities. Some of the target minerals include gold, bauxite, copper, silver, tin, and, majorly, nickel (owing to its growing applications in battery technology).
  • Hence, with all such applications and robust demand in the region, Asia-Pacific is expected to be the largest market during the forecast period.
Sodium Cyanide Market Analysis

Competitive Landscape

The sodium cyanide market is consolidated, with the top 10 players accounting for over 60% of the share in terms of production capacities. Some of the noticeable players in the market (not in any particular order) include Cyanco International LLC, The Chemours Company, Orica, HeBei ChengXin, and Australian Gold Reagents Pty Ltd.

Major Players

  1. The Chemours Company

  2. Cyanco

  3. Orica Limited

  4. Australian Gold Reagents Pty Ltd

  5. HeBei ChengXin

The Chemours Company, Cyanco, Orica Limited, Australian Gold Reagents Pty Ltd, HeBei ChengXin

Recent Developments

The recent developments pertaining to the major players in the market are being covered in the complete study.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Mining Activities in Canada and Mexico

      2. 4.1.2 Demand from the Gold Mining Industry

    2. 4.2 Restraints

      1. 4.2.1 Toxicity of Sodium Cyanide

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 End-user Industry

      1. 5.1.1 Mining

      2. 5.1.2 Chemical

      3. 5.1.3 Other End-user Industries

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 Australia & New Zealand

        3. 5.2.1.3 Indonesia

        4. 5.2.1.4 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Rest of North America

      3. 5.2.3 Europe

        1. 5.2.3.1 Russia

        2. 5.2.3.2 CIS Countries (Excluding Russia)

        3. 5.2.3.3 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Peru

        4. 5.2.4.4 Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. 5.2.5.1 Ghana

        2. 5.2.5.2 Sudan

        3. 5.2.5.3 South Africa

        4. 5.2.5.4 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Anhui Shuguang Group

      2. 6.4.2 Australian Gold Reagents Pty Ltd

      3. 6.4.3 Changsha Hekang Chemical Co. Ltd

      4. 6.4.4 The Chemours Company

      5. 6.4.5 Cyanco International LLC

      6. 6.4.6 CyPlus Idesa

      7. 6.4.7 Hebei Chengxin Group Co. Ltd

      8. 6.4.8 Orica Limited

      9. 6.4.9 Sasol

      10. 6.4.10 Taekwang Industrial Co. Ltd

      11. 6.4.11 Tongsuh Petrochemical Corp. Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Discovery of New Mines

    2. 7.2 Legalizing Mining

**Subject to Availability
You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Sodium Cyanide Market market is studied from 2017 - 2027.

The Sodium Cyanide Market is growing at a CAGR of >6% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

The Chemours Company, Cyanco, Orica Limited, Australian Gold Reagents Pty Ltd, HeBei ChengXin are the major companies operating in Sodium Cyanide Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!