Sodium Cyanide (CAS 143-33-9) Market
Global Sodium Cyanide (CAS 143-33-9) Market (By Type, Solid Sodium Cyanide and Liquid Sodium Cyanide; By Application, Electroplating, Chemical Industry, and Mining Industry; By Region and Companies), 2024-2033
December 2024
Chemicals and Materials
Pages: 138
ID: IMR1383
Sodium Cyanide (CAS 143-33-9) Market Overview
Global Sodium Cyanide (CAS 143-33-9) Market acquired the significant revenue of 2.6 Billion in 2023 and expected to be worth around USD 4.0 Billion by 2033 with the CAGR of 4.4% during the forecast period of 2024 to 2033. Sodium Cyanide (CAS: 143-33-9) Market is inspired by extensive uses in diverse industries, particularly in the mining sector for extractive purposes particularly Gold and silver due to the use in the cyanidation process. Besides mining, Sodium Cyanide has its uses in chemical manufacturing, in organic syntheses, and in electro plating. Some of the factors that affect market include the demand of precious metals in the international market, restriction in the handling of chemical hazardous and innovation in extraction of metals. Future outlook The market is expected to grow in the future, but it has problems, including the impact on the environment and regulatory issues related to its use and the volatility of raw materials and the growing demand for more environmentally friendly products.
Drivers for the Sodium Cyanide (CAS 143-33-9) Market
Increased Gold and Silver Mining Demand
The major factor influencing sodium cyanide market is its function as a reagent in the cyanidation process that involves extraction of gold and silver from their ores. During this process the Sodium Cyanide is added to water to form a cyanide solution that is later used to leach the precious metals on the ore. CC removes gold and silver by converting them into soluble cyanide. The cyanide surrounds the gold or silver and can be extracted from all the surrounding materials. Thanks to this process, it is very economical and fast, which makes it to be preferred by most mines wherever they are in the world for extraction of gold and silver.
Sodium cyanide is principally consumed by the mining industry or in areas where gold and silver is mined like North and South America and some parts of Africa and Asia. The increased use and demand for gold and silver in industries like electronics, jewelry, and investment make Sodium Cyanide crucial in the extraction process.
Restraints for the Sodium Cyanide (CAS 143-33-9) Market
Volatility in Raw Material Prices
Improvement in cost of price is majorly dependent on important raw materials like Hydrogen cyanide (HCN), Sodium hydroxide (NaOH)and ammonia which has the tendency of fluctuating. HCN which is a major raw material for Sodium Cyanide production depends on natural gas or any other Petroleum related industry hence relatively sensitive to the price of energy. Also, sodium hydroxide and ammonia costs can be affected by factors like disruptions in the supply chain, changes in other industries’ demand for the products, and fluctuations in the cost of raw materials like natural gas. Such fluctuation in the prices can easily influence the cost of Sodium Cyanide, and thus affect the manufacturing costs.
Opportunity in the Sodium Cyanide (CAS 143-33-9) Market
Development of Safer and More Sustainable Alternatives
The growing emphasis on sustainability and environmental responsibility in the mining industry is driving significant research into finding less harmful and eco-friendly alternatives to Sodium Cyanide in gold and silver extraction. Sodium Cyanide, while effective, poses considerable environmental risks due to its toxicity and potential for water contamination, leading to severe ecological impacts if not properly managed. As mining operations face increasing regulatory pressure and societal demand for greener practices, there is a push to identify and implement alternatives that are safer for both the environment and human health.
Trends for the Sodium Cyanide (CAS 143-33-9) Market
Advances in Waste Management and Recycling Technologies
Improvements in the recycling and safe disposal of Sodium Cyanide residues are becoming a crucial focus within the mining and chemical industries, as part of broader efforts to reduce environmental impact and enhance sustainability. Sodium Cyanide, due to its toxic nature, poses significant environmental risks if not properly handled after its use in gold and silver extraction. Residual cyanide, if released into the environment, can contaminate water sources and harm local ecosystems, leading to stringent environmental regulations and increased scrutiny from both governmental agencies and the public.
As a result, there has been a growing emphasis on developing more effective and efficient methods for managing and recycling cyanide residues. One approach involves the use of chemical treatments that detoxify residual cyanide, converting it into less harmful substances such as cyanate or ammonium.
Segments Covered in the Report
By Type
o Solid Sodium Cyanide
o Liquid Sodium Cyanide
By Application
o Electroplating
o Chemical Industry
o Mining Industry
Segment Analysis
By Type Analysis
On the basis of type, the market is divided into solid sodium cyanide and liquid sodium cyanide. Among these, solid sodium cyanide segment acquired the significant share in the market owing to its widespread use in the mining industry, particularly in gold and silver extraction. Solid sodium cyanide is more commonly utilized in the mining process because it is easier to store, handle, and transport compared to its liquid counterpart. It is typically transported in the form of briquettes, which makes it more convenient for large-scale mining operations, especially in remote areas.
Additionally, solid sodium cyanide is often preferred for its longer shelf life and stability, which makes it suitable for use in various mining processes where precise dosages are required. The solid form also facilitates safer handling, reducing risks associated with spills and leaks during transportation.
By Application Analysis
On the basis of application, the market is divided into electroplating, chemical industry, and mining industry. Among these, mining industry held the prominent share of the market due to its essential role in gold and silver extraction through the cyanidation process. Sodium Cyanide is widely used in the mining industry to dissolve gold and silver from ores, making it a crucial chemical for large-scale mining operations. The demand for Sodium Cyanide is closely tied to the global demand for precious metals, particularly gold, which remains a key driver in the mining industry.
Furthermore, the continuous exploration and development of new mining projects, especially in regions with rich gold and silver deposits such as North America, South America, and Africa, further solidifies the dominant position of the mining industry in the Sodium Cyanide market. This segment not only consumes the largest volume of Sodium Cyanide but also faces consistent demand driven by mining activities and the extraction of precious metals for various industrial uses.
Regional Analysis
North America Dominated the Market with the Highest Revenue Share
North America held the most of the share of 34.1% of the market due to the strong presence of the mining industry, particularly in the United States and Canada. These countries are major producers of gold and silver, and the mining operations in the region rely heavily on Sodium Cyanide for the extraction of these metals. North America also has well-established infrastructure for the production, storage, and transportation of Sodium Cyanide, making it an attractive market for both manufacturers and end-users.
Additionally, the region benefits from advanced mining technologies, stringent regulatory frameworks that ensure safe and efficient use of Sodium Cyanide, and ongoing investments in exploration activities. The high demand for Sodium Cyanide in the mining sector, coupled with the growth of the chemical and electroplating industries, contributes to North America's dominant position in the market.
Competitive Analysis
The competitive landscape of the Sodium Cyanide market is characterized by the presence of several key global players and a mix of large multinational corporations and regional suppliers. The market is highly competitive due to the critical role Sodium Cyanide plays in industries like mining, electroplating, and chemical production. Leading players such as Orica Limited, Cyanco, and Evonik Industries dominate the market through their extensive production capacities, global distribution networks, and long-standing relationships with key customers, particularly in the mining sector. These companies leverage technological advancements and invest in safety measures and sustainable practices to ensure the safe handling, transportation, and disposal of Sodium Cyanide, which is critical due to the hazardous nature of the chemical.
Key Market Players in the Sodium Cyanide (CAS 143-33-9) Market
o Orica Limited
o Cyanco
o Evonik Industries AG
o Linyi Lantian Chemical Co., Ltd.
o Taekwang Industrial Co., Ltd.
o Xinjiang Zhongtai International Holdings Limited
o Shandong Shengya Chemical Co., Ltd.
o Shaanxi Coal and Chemical Industry Co., Ltd.
o Kemira Oyj
o China National Petroleum Corporation (CNPC)
o Other Key Players
Report Features |
Description |
Market Size 2023 |
USD 2.6 Billion |
Market Size 2033 |
USD 4.0 Billion |
Compound Annual Growth Rate (CAGR) |
4.4% (2023-2033) |
Base Year |
2023 |
Market Forecast Period |
2024-2033 |
Historical Data |
2019-2022 |
Market Forecast Units |
Value (USD Billion) |
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
By Type, Application, and Region |
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
Countries Covered |
The U.S., Canada, Germany, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
Key Companies Profiled |
Orica Limited, Cyanco, Evonik Industries AG, Linyi Lantian Chemical Co., Ltd., Taekwang Industrial Co., Ltd., Xinjiang Zhongtai International Holdings Limited, Shandong Shengya Chemical Co., Ltd., Shaanxi Coal and Chemical Industry Co., Ltd., Kemira Oyj, China National Petroleum Corporation (CNPC), and Other Key Players. |
Key Market Opportunities |
Development of Safer and More Sustainable Alternatives |
Key Market Dynamics |
Increased Gold and Silver Mining Demand |
Frequently Asked Questions
1. Who are the key players in the Sodium Cyanide (CAS 143-33-9) Market?
Answer: Orica Limited, Cyanco, Evonik Industries AG, Linyi Lantian Chemical Co., Ltd., Taekwang Industrial Co., Ltd., Xinjiang Zhongtai International Holdings Limited, Shandong Shengya Chemical Co., Ltd., Shaanxi Coal and Chemical Industry Co., Ltd., Kemira Oyj, China National Petroleum Corporation (CNPC), and Other Key Players.
2. How much is the Sodium Cyanide (CAS 143-33-9) Market in 2023?
Answer: The Sodium Cyanide (CAS 143-33-9) Market size was valued at USD 2.6 Billion in 2023.
3. What would be the forecast period in the Sodium Cyanide (CAS 143-33-9) Market?
Answer: The forecast period in the Sodium Cyanide (CAS 143-33-9) Market report is 2024-2033.
4. What is the growth rate of the Sodium Cyanide (CAS 143-33-9) Market?
Answer: Sodium Cyanide (CAS 143-33-9) Market is growing at a CAGR of 4.4% during the forecast period, from 2024 to 2033.
