Silver Cyanide Market Size

Silver Cyanide Market size was over USD 1.07 Billion in 2023 and is poised to cross USD 2.49 Billion by 2036, witnessing more than 6.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of silver cyanide is estimated at USD 1.14 Billion. The growth of the market can be attributed to the increasing demand for silver plating in various industries. Silver cyanide is the most important component in the silver plating process that enhances the durability, conductivity, and saves the product from corrosion & also makes them water resistant. Silver plating is a simple process of providing the coating of silver on a material. This process offers a variety of properties such as protection from corrosion to the base material, lower cost, and superior finish to the material. The application of silver cyanide in silver plating has been witnessed by multiple patents across the world.  In 2021, a patent was filed for a silver plating process using silver cyanide and potassium hydroxide specifically designed for use in the manufacture of flexible electronics. 

Additionally, silver cyanide is widely used in metal surface treatment and also in research activities that are estimated to propel the growth of this market in the forecast period. The main purpose of silver cyanide in the metal surface treatment process is to transform the chemical and physical properties of the product. Anyhow, owing to its highly toxic nature it is gradually being changed with other chemicals in metal plating applications. The metal surface treatment segment is expected to hold a revenue of USD 13 billion by the end of 2023.