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Sodium Cyanide Market -Industry News, Applications and Trends

(EnergyIndustry.Net, August 19, 2021 ) Market Overview

Sodium cyanide is an inorganic compound, having chemical formula NaCN.

It is a white, water-soluble solid. It has a high affinity for metals, which leads to the high toxicity of this salt. Sodium Cyanide has high reactivity for metals, which is exploited in its application in mining, especially in gold mining.

NaCN is used in the gold mining industry to extract gold from rock by heap leaching; it is also used for steel cyanation, in electroplating, hydrometallurgy of precious metals, in floatation processes and for beneficiation of metallic ores.



Market Trends

The increasing investments in gold is a primary factor which will drive the market during the forecast period. Of all the precious metals, gold is most popular as an investment. Investors generally buy gold as a way of diversifying risk, especially through the use of futures contracts and derivatives.

With the growing preference among individual for investments, there will be an increasing need for more gold production which in turn will drive the market for Sodium Cyanide. Conventional gold mining operations rely heavily on cyanide leaching as the predominant method for recovering gold from ores and concentrates.

The global gold production increased from 2730 tonnes in 2012 to 3247 tonnes in 2017. Thus, the increasing gold production will boost the demand for Sodium Cyanide.

The use and subsequent disposal of toxic sodium cyanide present significant safety and environment challenges. There have been several high profiles peaks and spills of cyanide killing scores of fish.

As a result of this, it is facing strong public opposition, and some countries have banned it altogether. Various alternatives like Cyanide-Free processes has been introduced in the regions where Sodium cyanide is banned.

Therefore, the toxicity of Sodium Cyanide which is harmful to both human as well as aquatic life can hinder the growth of the market in the coming years.



Industry Outlook

The Global Cyanide Market segments the market by form and application. Form segment includes Solid Sodium Cyanide and Liquid Sodium Cyanide. Further, based on application, the market can be segmented as Mining, Electroplating, Chemical, Pharmaceuticals, and Others.

Mining is the leading segment. Sodium Cyanide is primarily used in Gold mining. NaCN is highly reactive to metals. Cyanide has been the leaching reagent of choice in gold mining because of its high gold recoveries, robustness and relatively low cost. The gold mining sector uses approximately 66,000 tons of sodium cyanide annually worldwide.



Product Analysis

By Form

Solid Sodium Cyanide

Liquid Sodium Cyanide



By Application

Mining

Electroplating

Chemical

Pharmaceuticals

Others



Regional Analysis

The report segments the market based on geography as North America, South America, Europe, Asia-Pacific and Rest of the World.

Asia-Pacific is the most dominating region for Sodium Cyanide Market. The large share of Asia-Pacific can be attributed to the high gold production in countries like China, Australia, and Uzbekistan. Australia has the highest number of gold reserves in the world (about 10% of the total world gold reserve) and is the second largest gold producing after China.

Australia Gold Reagents is the major manufacturer and supplier of sodium cyanide for gold extraction in Australia.

The market in Europe and North America is expected to register slow growth in comparison to the APAC region. In North America, the demand for Sodium Cyanide is prominently driven by the gold-mining industry, As the U.S. is one of the major gold producing countries.

In Europe, Russia is expected to drive the market in the region. This country is investing in new plants for increasing the production of sodium cyanide. Also, the vast gold reserves present in Russia will propel the demand for sodium cyanide.

The demand for Sodium Cyanide is expected to grow at a healthy pace in the Middle East region and especially in Saudi Arabia. It is because of the Ad Duwayhi gold mine in Saudi Arabia. The Ad Duwayhi mine has begun commercial production; hence there is a high demand for Sodium Cyanide in this region.



Companies

The Global Sodium Cyanide market report profiles the following companies-

Asahi Kasei, Chemours, Cyanco, Orica, Royal DSM, Sasol Polymers, Evonik, Australian Gold Reagents, Sinopec, Tongsuh Petrochemical corp.,ltd, and Hebei Chengxin Co., Ltd.



Related Topic's

Polybutylene Adipate Terephthalate Market, Performance Chemicals Market, Chlor-Alkali Market, Cenospheres Market, Base Oil Market

DataM Intelligence

Sai Kiran

+1 877 441 4866

pr@datamintelligence.com

Source: EmailWire.Com

Renewable Energy News




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