Sodium Cyanide Market Trends

Growth Drivers

Growing Trend of Fast Fashion– Fast fashion has increased the production of clothes and other apparel, moreover, the variety has also increased. This in turn has increased the need for sodium cyanide to produce more dues and pigments for the growing apparel production. Clothing and footwear consumption is predicted to rise by 63% by 2030 across the globe.
Rising Production of Automotives– In 2022, the world produced around 85 million vehicles, and the overall production increased by around 6% from 2021. Sodium cyanide is used in the electroplating process of applying a layer of copper or other metals onto the surfaces of auto parts.

Challenges

Presence of New Alternatives- As industries progress, there may be initiatives to develop more ecologically friendly and less contingent techniques of metal extraction and processing that are not as dependent on sodium cyanide. This could impact the demand for sodium cyanide.
Negative Perception of Sodium Cyanide
Disposal Impact on the Environment

Sodium Cyanide Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	3.9%
Base Year Market Size (2023)	USD 2.08 Billion
Forecast Year Market Size (2036)	USD 3.42 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of sodium cyanide is estimated at USD 2.16 Billion.

The 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. Increasing exploration of mining, and rising demand for electroplating of steel, gold, and silver products are the major factors driving the market growth.

North America industry is estimated to hold 26% of the revenue share by 2036, backed by increased investment in the production of minerals in the region.

Evonik Industries AG, The Chemours Company, Draslovka Holding Company, EPC Engineering and Technologies GmbH, Cynaco International, Sasol Limited, Changsha Hekang Chemical Co., Ltd., Orica Limited, Australian Gold Reagents Pty Ltd., Gujrat Alkalies and Chemicals Limited

Sodium Cyanide Market Trends