Global Hydrogen Cyanide Market - Segmented by Structure, Application, and Geography - Growth, Trends and Forecasts (2018 - 2023)
The global hydrogen cyanide market is estimated to witness a CAGR of 1.25% during the forecast period, 2018-2023. Adiponitrile production is anticipated to be the largest consumer of hydrogen cyanide, which is used to produce nylon 66. North America leads the market with higher share.
Increasing Demand for Nylon 66 Fibers Driving the Market
Hydrogen Cyanide is mostly used to make adiponitrile (used to produce Nylon 66) and other chemicals. The world demand of hydrogen cyanide is closely tied to the consumption of nylon 66 through adiponitrile. Nylon is being used as a replacement for several applications including automotive, textile, and electronics components. Due to its low weight and high mechanical properties, it is being accepted in several industries. This growing demand for Nylon 66 is driving the hydrogen cyanide market indirectly.
Adiponitrile Application to Own the Large Share of the Market
A considerable part of the hydrogen cyanide produced is used in adiponitrile application as a precursor for polyamide production. The main regions producing adiponitrile are United States, and Western Europe. The second main application for hydrogen cyanide after adiponitrile is acetone cyanohydrin. Since, hydrogen cyanide is a toxic compound, most of the produced hydrogen cyanide is consumed or used at the place of production.
North America Leads among Other Regions
North America is expected to lead the hydrogen cyanide market followed by Europe and Asia-Pacific. The consumption of hydrogen cyanide in North American region is high due to the increase in the demand for the nutritional additives in the region. With the increasing huge population and emerging economies, the Asia-Pacific region is expected to own the largest share of the market during the forecast period.
Notable Developments in the Market
February 2017: CyPlus Idesa opened a sodium cyanide production plant in Mexico. CyPlus Idesa is a joint venture between German Evonik and Mexican Group IDESA. The new sodium cyanide plant has a capacity of 40,000 metric tons, and uses state-of-the-art hydrogen cyanide and cyanide technologies
Major Key Players Invista, Evonik Industries, INEOS, Cyanco, Sterling Chemicals, amongst others.
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Countries expected to witness the fastest growth during the forecast period
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