The global Sodium Cyanide Market is estimated to be valued at US$ 2452.82 Mn or in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview: –

Sodium cyanide is a white, solid, water-soluble compound that is commercially produced as a pellet or crystal with the chemical formula NaCN. It is commonly used for recovering gold and other metals from ores where they occur in low concentrations. The compound finds its major application in gold mining processes, which provides an efficient and environment-friendly extraction of gold from gold-containing ores.

Market key trends: –

One of the key trends in the sodium cyanide market is its growing adoption in e-waste recycling. With increasing electronic waste due to rapid obsolescence and short life cycle of consumer electronics, e-waste recycling is emerging as a sustainable solution for recovery of precious metals like gold, silver from electronic scrap. Sodium cyanide helps extract these metals through leaching and further purification. Its non-hazardous nature and high recovery rates make it the chemical of choice for commercial gold and other metal recycling from e-waste. This is expected to drive the demand for sodium cyanide in e-waste recycling over the forecast period.

Segment Analysis: –

The global sodium cyanide market is segmented into solid sodium cyanide and liquid sodium cyanide. Among these, the solid sodium cyanide segment holds the largest share in the global market owing to its cost-effectiveness in storage and transportation as compared to liquid sodium cyanide. It is majorly produced and supplied in the form of briquettes or flakes to end users. The segment is estimated to exhibit steady growth over the forecast period.

Key Takeaways: –

The Global Sodium Cyanide Market Growth is expected to witness high, exhibiting CAGR of 5.4% over the forecast period, due to increasing demand from gold mining industries. The extensive usage of sodium cyanide in froth flotation process for recovery of gold has been a major factor driving the growth of sodium cyanide market.

Regional analysis: –

Asia Pacific dominates the global sodium cyanide market and is estimated to continue its dominance during the forecast period. This is attributed to presence of major gold miners in countries such as China and Australia in the region. Moreover, increasing gold mining activities in other APAC countries such as Indonesia is further anticipated to propel the demand.

Key players: –

Key players operating in the sodium cyanide market are Cyanco Corporation, E. I. du Pont de Nemours and Company, Australian Gold Reagents, Orica Limited, Evonik Industries AG, Taekwang Industrial, Tongsuh Petrochemical, Anhui Shuguang Chemical, Unique Chemical. Cyanco corporation is one of the leading manufacturer of sodium cyanide with extensive production facilities located in the US, Canada and Peru.

*Note:
1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it