Global Hydrogen Cyanide Market – Size, Share, and Forecasts (2017 - 2022)
The demand for hydrogen cyanide is driven by a significant demand for manufacturing of sodium cyanide and potassium cyanide, and is estimated to have a strong growth during 2017-2022 (the forecast period).Hydrogen cyanide is a chemical compound with the chemical formula HCN. It is a colorless, extremely poisonous, and flammable liquid. It is a highly valuable precursor to many chemical compounds, ranging from polymers to pharmaceuticals.The most important driver for hydrogen cyanide market is the demand for manufacturing of sodium cyanide and potassium cyanide, which are used in mining of silver and gold, where hydrogen cyanide is used as feedstock. Another major driver for the hydrogen cyanide market is its increasing use in production of adiponitrile, which is the precursor to manufacture nylon 66. On the basis of structure type, the market is segmented into hydrogen cyanide liquid and hydrogen cyanide gas. This market is further segmented on the basis of application into sodium cyanide & potassium cyanide, adiponitrile, acetone cyanohydrin and others, which consists of DL-Methionine, chelating agents and cyanuric chloride. The market is dominated by adiponitrile application of hydrogen cyanide.The major challenge that hydrogen cyanide market faces is its highly toxic nature which makes it difficult to transport and store. It is extremely poisonous, because it binds irreversibly to the iron atom in the hemoglobin, making it unavailable to transport the vital O2, to the body's cells and tissues. It also interferes with ATP (adenosine triphosphate), the main energy storage molecule in the body. The combination of these two events, rapidly bring the body's metabolism to a halt, resulting in death.
Areas with Scope for Hydrogen Cyanide:North America is a major consumer of hydrogen cyanide, due to increase in demand for nutritional additives. It is followed by Europe and Asia-Pacific, and these region are expected to witness strong growth over the forecast period due to high demand for nylon 66, where adiponitrile is feedstock and increasing use of chelating agents. There is no international trade for hydrogen cyanide because it is difficult to transport and store, so most HCN produced is used on site.
Notable Developments in the Market
• In Oct 2016, INVISTA opened its nylon 66 facility, including a new 215,000-ton hexamethylene diamine (HMD) plant and a 150,000-ton polymer plant, at the Shanghai chemical industry park in China which is produced from hydrogen cyanide.
• In Feb 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.
Why Purchase the Global Hydrogen Cyanide Market Report?
• Know about: the latest regulations and policies of hydrogen cyanide market.
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
• Which segment of hydrogen cyanide by application and by structure type will dominate the market?
• Which regions will witness fastest growth during the forecast period?
• Identify the latest developments, market shares and strategies employed by the major market players, such as:
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