The global sodium cyanide market was pegged at 1100 kilo tons in 2017, and is expected to register a CAGR of 6.1% in terms of volume over the forecast period (2018 – 2026), to reach 2000 kilo tons by 2026.

Seattle, WA -- (SBWire) -- 09/30/2019 --­­­Global Sodium Cyanide Market – Insights

Sodium cyanide (NaCN) is an inorganic poisonous solid used as a raw material in pharmaceuticals, dyes and pigments, agrochemicals, and metal industries. Extensive use of NaCN in various end-use industries can be attributed to its high affinity for metals. It is toxic in nature and is therefore used as an insecticide. NaCN is also used in analytical testing. The International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold, also referred to as the Cyanide Code, is a voluntary program designed to assist the global gold mining industry. It helps the producers and transporters of cyanide used in gold mining in enhancing cyanide management practices and to publicly demonstrate their compliance with the Cyanide Code through an independent and transparent process.

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Among end users, the mining industry segment accounts for the largest share in the global sodium cyanide market. NaCN is used in extraction of gold and other expensive metals. Gold is the least reactive metal and has high affinity for cyanide, which causes the metal to oxidize and dissolve in the presence of oxygen and water. The chemical industry segment witnessed the fastest growth in the global sodium cyanide market in 2017. This was attributed to increasing use of NaCN in chemical synthesis. Cyanuric chloride, cyanogen chloride, and various types of nitriles are some of the extensively used chemical compounds that are derived from NaCN through various reactions.
The market in Asia Pacific witnessed significant growth in 2017, owing to increasing mining activities in the region. For instance, according to the U.S. Geological Survey 2013, China was the leading mined-gold-producing country in the world and gold production in the country was expected to increase 2.5%, annually.

However, challenges in transport, handling, and storage of NaCN are expected to restrict growth of the sodium cyanide market. The National Industrial Chemicals Notification and Assessment Scheme (NICNAS) has assessed the environmental risks of NaCN and made recommendations for reducing the risks from its transport and use in mining. Moreover, numerous regulations with respect to use of NaCN are also expected to hinder the market growth. Transport of NaCN should be conducted according to the requirements specified in the Australian Code for the Transport of Dangerous Goods by Road and Rail (7th edition - ADG7) and the associated State/Territory legislation that gives it effect.
The global sodium cyanide market was pegged at 1100 kilo tons in 2017, and is expected to register a CAGR of 6.1% in terms of volume over the forecast period (2018 – 2026), to reach 2000 kilo tons by 2026.

According to Coherent Market insights analysis, Mexico is the largest importer and second largest consumer of sodium cyanide. This is majorly attributed to high presence of gold and silver mines in the country. Sodium cyanide is used to extract gold, silver, and other precious metals. Mexico is the largest producer of silver in the world and ranks among the top 15 producers of gold worldwide.
Furthermore, key players in the market are focused on expanding their businesses in order to enhance their market share. For instance, in 2017, CyPlus IDESA started a sodium cyanide production plant in Mexico, which has a production capacity of 40 kilo tons per year.

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Key players in the market are focused on increasing production capacity in order to enhance their market share. For instance, in 2014, Australia-based Gold Reagents Pty Ltd. increased its sodium cyanide solution production capacity from 64 kilo tons to 78 kilo tons.

Major players operating in the global sodium cyanide market include, Cyanco, E. I. DuPont, Australian Gold Reagents, Orica, Evonik, Taekwang Industrial, Tongsuh Petrochemical, Anhui Shuguang Chemical, Korund, Yingkou Sanzheng, Sasol Polymers, Unique Chemical, Tiande Chemical, Lukoil, Hebei Chengxin, Sinopec, and DSM.

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