The sodium cyanide industry is projected to reach a value of 3 Bn between 2019 and 2027. The widespread demand arising from the mining and metallurgy populations is the key factor bolstering revenue. The demand for gold and low-grade ore extracts will continue to aid the growth of the sodium cyanide market. This promising growth outlook can be attributed to the strong demand for rural mining exploration efforts, reveals Fact.MR in its new study.
“Growing need for reagents in metallurgic processes and strong demand for gold across the globe will accelerate the growth of sodium cyanide market in Asia Pacific,” says the Fact.MR report.
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Sodium Cyanide Market – Key Takeaways
- The mining and metallurgy segment holds leading market share, and is projected to display high CAGR through the forecast period.
- Solid form of sodium cyanide remains highly preferred accounting for two-third of the revenue share.
- Chemical intermediates are poised to witness a high growth rate through the end of the assessment period.
- North America is a leading market, accounting for 16% of the global demand share, with major impetus arising from Mexico.
- East Asia is anticipated to display major growth rate of 6% through 2027.
Sodium Cyanide Market – Key Driving Factors
- The rapid increase of gold prices in recent years are driving the demand in sodium cyanide market.
- Prolonged mining operations and rural exploration ventures support growth of global market.
- The rising adoption of sodium cyanide as an extraction reagent has resulted in widespread industrial application, bolstering growth.
- Niche demand for sodium cyanide in animal feed, chelate production, and dyes & pigments, and chemical intermediary industries is pushing the sodium cyanide market.
Sodium cyanide Market – Key Constraints
- Increasing strictness of regulations and inspections associated with the supply side of the production chain is impacting market growth.
- Plant closures and lower operational levels, particularly in major supplier nations such as China will restrict the market.
Explore 162 tables and 152 figures in the study. Request TOC of the report at – https://www.factmr.com/connectus/sample?flag=RM&rep_id=4554
The global sodium cyanide market is largely consolidated. The leading players profiled in the report include, but are not limited to Orica, Chemours Company, Evonik Industries AG, and Cyanco. Market leaders are investing in large scale expansion of production capacities. Manufacturers are channeling their efforts competitive bidding to secure stable supplies with lower prices, as indicated by the Fact.MR report.
About the Report
This 170-page study offers readers a comprehensive market forecast of the sodium cyanide market. Global, regional and country level analysis of the latest industry trends impacting the sodium cyanide market are covered in this Fact.MR study. The report offers compelling insights on the sodium cyanide market on the basis of form (solid and liquid), end use (mining & metallurgy, pharmaceutical, chemical intermediaries, dyes & pigments, and others), across six regions (Middle East and Africa, South Asia & Oceania, East Asia, Europe, Latin America, North America).
Media Release: https://www.factmr.com/media-release/1334/global-sodium-cyanide-market