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Global Sodium Cyanide Market to Grow at a CAGR of 5.2% over the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Sodium Cyanide Market Report and Forecast 2021-2026’, the global demand for sodium cyanide reached a volume of around 1153 thousand metric tons in 2020. The market demand is further expected to grow at a CAGR of 5.2% between 2021 and 2026 to attain a volume of around 1651 thousand metric tons by 2026.

The global sodium cyanide market is being aided by the growing mining activities, especially in the developing nations, coupled with the advancing technological developments. The Asia Pacific is the leading market for the product, accounting for nearly half the global supply of sodium cyanide, owing to the growing electroplating industry and rapid increase in mining activities in the region. The Asia Pacific is the largest exporting region of sodium cyanide. Within the Asia Pacific, China, being a major market for the product, accounts for a high domestic demand for sodium cyanide. After the Asia Pacific, North America is the leading supplier and exporter of the substance, majorly exporting to countries in Latin. In North America, the market is growing due to the surplus capacity of sodium cyanide in the region.

With the growing demand for precious metals, the mining activities have also increased, which is aiding the global market for sodium cyanide. In June 2017, the Chemours Company (Chemours) (NYSE: CC), a key player in the market, started the construction of a new Chemours Mining Solutions manufacturing facility in the state of Durango, Mexico, investing around USD 150 million in the project. Chemours is the world's largest producer of solid sodium cyanide, essential in mining operations, and this new facility will provide a safe and reliable supply to the mining industry in Mexico, further aiding in the growth of the sodium cyanide industry, globally.

Market Breakup by Applications and Regions:

  • Sodium cyanide finds use in a wide range of industrial applications like mining (extraction), and electroplating, among others.
  • Region-wise, the global sodium cyanide market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing mining activities, especially in the emerging economies, are leading to the growth of the global tablet coatings industry. 
  • The growing electroplating industry coupled with increasing urbanisation and rising disposable incomes, is further propelling the industry forward.  
  • Increased demand for precious metals is providing a further impetus to the market.
  • The growing demand from the application sectors for producing chemical intermediates and other materials is further supporting the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global sodium cyanide industry for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) information for the regional markets of sodium cyanide.
  • An analysis of the regional price trends has been provided for the (2016-2020) and (2021-2026) periods.
  • The report also looks in-depth into the trade data, covering the leading exporting and importing market, along with their value and volume.
  • It also provides an assessment of the market based on the Porter’s Five Forces model, along with a SWOT and value chain analysis.

The major players in the global sodium cyanide market are Anhui Shuguang Chemical Group, Cyanco Corporation, Chemours Company, Orica Limited, TAEKWANG Industrial Co., ltd., CyPlus GmbH, Tongsuh Petrochemical Corp., Ltd, Sasol Polymers Ltd, Australian Gold Reagents Pty Ltd, and Unique Chemical Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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