According to Fact.MR, demand for sodium cyanide is expected to expand at a CAGR of over 4% over the forecast period (2019-2027), reaching a value pool of about US$ 3 billion. Because of rapidly rising gold prices, the market for sodium cyanide has exploded in recent years.
Gold mining corporations are putting more money into new remote exploration ventures and extending mining operations that have the potential to generate value in the sodium cyanide market. The growing usage of sodium cyanide as an extraction reagent in the mining industry is a major driver of the worldwide sodium cyanide market.
Global Sodium Cyanide Market: In-Depth Assessment on Key Segments
The global sodium cyanide market is segmented on the basis of form, end-use, and region.
Form
- Solid
- Liquid
End-Use
- Mining & Metallurgy
- Pharmaceutical
- Chemical Intermediates
- Pharmaceutical
- Dyes & Pigments
- Others
The Most Important Takeaways from the Sodium Cyanide Market Research
The mining and metallurgy category now holds the majority of market share and is predicted to increase at a rapid rate in the coming years. Sodium cyanide is expected to have a large market potential in the future due to rapid economic development and the requirement for a reagent in metallurgical processes such as extracting precious metals from ores.
Solid form accounted for a substantial portion of the market in terms of value and volume in 2018, and is expected to account for more than two-thirds of revenue share by 2027.
Chemical intermediates, among other end uses, are expected to grow at a considerable pace of over 6% over the assessment period (2019-2027)
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