Global Sodium Cyanide Market 2017-2021
About Sodium Cyanide
Sodium cyanide is an inorganic chemical with formula NaCN. It is available in white soluble solid and liquid forms. It is highly toxic in nature, readily gets oxidized, and exhibits high affinity to metals. Sodium cyanide is manufactured through various chemical methods. One such method is the reaction of sodium hydroxide with hydrogen cyanide, resulting in sodium cyanide and water as a by-product. Another widely accepted chemical method is the Castner-Kellner process wherein sodium amide is made to react with carbon at high temperatures, resulting in sodium cyanide and hydrogen as a by-product.
Technavio’s analysts forecast the global sodium cyanide market to grow at a CAGR of 5.14% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global sodium cyanide market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Sodium Cyanide Market 2017-2021
Technavio recognizes the following companies as the key players in the global sodium cyanide market: Asahi Kasei, The Chemours Company, Cyanco, Orica, Royal DSM, and SASOL
Other Prominent Vendors in the market are: Anhui Shuguang Chemical, Australian Gold Reagents, Gujarat Alkalies and Chemical, HeBei ChengXin, Korund, LUKOIL, TAEKWANG INDUSTRIAL, TSPC, and UNIGEL UK.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Decrease in gold production. The global gold supply fell by 2.8% every year. After the initial falls in Asia, gold traded sideways and then gradually ticked higher later in the Asian session and has been further increasing in Europe. South Africa’s gold production continues to fall. It is predicted that, with time, gold production in China, which is a leading buyer and producer of gold in APAC, will decline due to reduction in production because of the shutdown of older mines.”
According to the report, one of the major drivers for this market is Simpler manufacturing processes of sodium cyanide. Sodium cyanide is produced easily in a one-step reaction. The industrial production of sodium cyanide is carried out using the Andrussow method or the Castner Kellner process, which is widely adopted and commercially accepted processes for the manufacture of sodium cyanide across the globe.
Further, the report states that one of the major factors hindering the growth of this market is High toxicity level. Cyanide is toxic in large doses and is regulated in many countries worldwide to protect humans, animals, and the aquatic environment. It prevents the living cells from using oxygen, resulting in suffocation. Cyanide poisoning may be fatal to humans and animals if prompt first-aid treatment is not provided. Various long-term health effects, such as goiter and poor thyroid function, have been noticed in people who consume a diet comprising cyanide-containing plants such as cassava.
Asahi Kasei, The Chemours Company, Cyanco, Orica, Royal DSM, SASOL, Anhui Shuguang Chemical, Australian Gold Reagents, Gujarat Alkalies and Chemical, HeBei ChengXin, Korund, LUKOIL, TAEKWANG INDUSTRIAL, TSPC, and UNIGEL UK.
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