Sodium Cyanide Market Size

Sodium Cyanide Market size was over USD 2.08 Billion in 2023 and is anticipated to reach USD 3.42 Billion by 2036, growing at around 3.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of sodium cyanide is estimated at USD 2.16 Billion. In the world, there are currently over 400 mining initiatives, that involve the exploration of rare earth metals, this excludes the count of China. Rising mining projects are boosting the need for sodium cyanide, which is used to extract gold and other precious metals.

In addition to this, a rising infestation of pests is thought to be fueling the expansion of the sodium cyanide market. Pest infestation causes around 40% of the world's crop production loss. Moreover, the world suffers a loss of USD 70 billion due to pest invasion. Sodium cyanide has been used for fumigation purposes to control pests and other insects on stored grains and crops.