Sodium Cyanide Market Segmentation:
Form Segment Analysis
The solid segment is estimated to gain the largest market share of about 70% in the year 2035. The growth of the segment can be attributed to the increasing demand for gold. Solid sodium cyanide is particularly used in dissolving and separating the gold from its ores through a process of leaching and cyanidation. According to the World Gold Council, in 2022 the total supply of gold increased to 3611.9 tonnes from 3568.9 tons in 2021. In addition to this, solid sodium cyanide is much easier to handle in comparison to liquid sodium cyanide, therefore, it is usually used more by the end-user industries.
End User Segment Analysis
The mining segment in the sodium cyanide market is expected to garner a significant share of around 46% in the year 2035. The rising demand for lithium in the world is expected to boost the growth of the segment. Global lithium carbonate equivalent (LCE) production reached 540,000 tonnes in 2021. Demand for lithium is estimated to rise to 1.5 million tonnes by 2025. The lithium is extracted by the procedure of underground mining, therefore, increasing the demand for sodium cyanide.
Our in-depth analysis of the global market includes the following segments:
|
Form |
|
|
End User |
|
