Sodium Cyanide Market Resurgent, Heightened Demand for Gold Mining Sustaining Growth
Fact.MR predicts that demand for sodium cyanide is projected to growth at a CAGR of over 4% during the forecast period (2019-2027) and is anticipated to reach a value pool of nearly US$ 3 Bn. In recent years the market for sodium cyanide has gained massive momentum owing to rapidly increasing gold prices.
Gold mining companies are investing more capital in new rural exploration ventures, as well as prolonging mining operations that are poised to create value opportunities in the sodium cyanide market. Increasing use of sodium cyanide as an extraction reagent in the mining industry is a primary factor driving growth in the global market for sodium cyanide.
This can be attributed to its economic advantages in gold and silver extraction. The mining and metallurgy segment has maintained its supremacy in the market and is poised to create lucrative growth prospects during the forecast period.
Mining & Metallurgy Proliferates With Intensive Sodium Cyanide Utilization
An upswing in demand for sodium cyanide has been witnessed in the mining & and metallurgy industries. It is commonly used in the mining of gold, where demand is mainly determined by the high availability and low costs of sodium cyanide.
Moreover, considering the ongoing supply for sodium cyanide, large mining companies are engaging with several cyanide suppliers with an advance notice covering six to twelve months.
Presently, sodium cyanide is utilized by about 90% of the global gold supply chain. Another factor facilitating growth for sodium cyanide in the purification of metals is the increasing demand for these metals for both commercial and non-commercial operations.
Gold is another metal where the extraction process employs sodium cyanide. Globally, the growing demand for such metals for commercial and non-commercial applications has resulted in increased mining activities.
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APAC to Outpace Other Regions, as Mining Activities Intensify
Asia Pacific is presently maintaining its supremacy in the global sodium cyanide market. This area is home to over half the market for sodium cyanide along with China which holds the leading share in the region. Australia also has a significant number of producers of sodium cyanide and the area has shown high demand growth for mining reagents.
Latin America also has a prominent position in the global market for sodium cyanide. Countries like Chile, Peru, and Colombia have shown a surge in demand for mining reagents. Europe is anticipated to show a moderate growth trajectory in the coming years.
With the supply situation changing globally, capacity expansions are projected to increase in several European countries. Hence these regions will become a little less dependent on imports from APAC countries. The market supply gap for sodium cyanide in North America is expected to narrow by the end of the forecast period with demand receiving a steady uptick and supply remaining at an even keel.
Environmental Concerns to Create a Dip in Supply
The global sodium cyanide market is consolidated in nature with Tier-1 competitors such as Evonik Industries AG, Cyanco, The Chemours Company and Orica capturing a market share of more than 60%. Industry stakeholders are investing in large scale manufacturing to cater to the growing sodium cyanide market.
Competitive bidding is one of the most widely used strategies for supplier selection globally. In recent years, several producers in APAC have gained significant new businesses as a result of their lower prices.
Although demand for sodium cyanide with the recovering mining industry has been steadily increasing globally, the supply side is witnessing environmental inspections causing many plant closures and low operating levels, particularly in China. It is generating supply pressure, and is expected to have an impact on global sodium cyanide prices.
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Global Sodium Cyanide Market: In-Depth Assessment on Key Segments
The global sodium cyanide market is segmented on the basis of form, end-use, and region.
- Mining & Metallurgy
- Chemical Intermediates
- Dyes & Pigments
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Global Sodium Cyanide Market – Scope Of The Report
The following report provides forecast and analysis of the global sodium cyanide market along with the historical data of 2013, estimated data 2019 and forecast data up to 2027 in terms of value (US$ Mn) and volume (Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global sodium cyanide market along with several macro-economic indicators. This newly published and insightful report on sodium cyanide sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global sodium cyanide market.
The report also comprises the study of current issues with end users and opportunities for sodium cyanide. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of sodium cyanide manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the sodium cyanide market provided in the report adds to the credibility of this exhaustive research study.
Country-specific assessment on demand for sodium cyanide has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous sodium cyanide manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
Global Sodium Cyanide Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the sodium cyanide market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the sodium cyanide market, which includes global GDP growth rate, various industries growth rate, such as chemical & materials, mining & metallurgy and others.
This report serves as an authentic resource of intelligence on the Sodium cyanide market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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