United States Sodium Cyanide Market Outlook
According to a new report by Expert Market Research titled “United States Sodium Cyanide Market Size, Share, Analysis, Report, Demand, Price 2023-2028″, the United States sodium cyanide market reached a value of approximately USD 126.6 million in 2022. Aided by the expanding demand for various chemicals, such as chemical intermediates and other materials along with the expanding mining operations, the market is projected to further grow at a CAGR of 4.10% between 2023 and 2028 to reach a value of around USD 160.81 million by 2028.
Sodium cyanide, a highly toxic inorganic compound, is predominantly used in the gold mining industry to extract gold from ore, owing to its high reactivity and efficiency. Besides, it finds substantial application in the synthesis of numerous industrially valuable chemicals and as a laboratory reagent. With its attributes such as cost-effectiveness, high performance, and adaptability, sodium cyanide has become a material of choice for numerous industries, thus stimulating the growth of the market.
The United States sodium cyanide market growth is closely tied to the flourishing mining industry, primarily the gold mining sector. The country, known for its vast mineral resources, has been witnessing an upsurge in gold mining activities in recent years. Sodium cyanide, as a reliable and efficient lixiviant, is an indispensable part of the gold extraction process, especially in heap leaching and carbon-in-pulp methods. This upswing in mining activities is projected to significantly contribute to the demand for sodium cyanide.
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Moreover, the growing chemical industry is providing a significant impetus to the United States sodium cyanide market development. Sodium cyanide serves as a key precursor in the production of various chemicals including cyanuric chloride, cyanogen chloride, and many organic cyanides, which find extensive applications across a spectrum of industries such as textile, plastics, and pharmaceuticals. With the chemical industry on a growth trajectory, the demand for sodium cyanide is set to escalate.
In the pharmaceutical industry, sodium cyanide acts as an essential reagent in the manufacturing process of certain pharmaceutical drugs, boosting the United States sodium cyanide market expansion. Despite its high toxicity, the careful and controlled use of sodium cyanide can lead to the production of beneficial compounds for medical use. As the pharmaceutical industry expands in response to the rising demand for innovative healthcare solutions, sodium cyanide’s demand in this sector will also likely experience a boost.
Concurrently, the demand for sodium cyanide in the water treatment industry has seen considerable growth. Sodium cyanide can be used for the removal of metals and the mitigation of the growth of destructive organisms in the water. The urgency to address the challenges of water scarcity and promote sustainable water management solutions is expected to foster the United States sodium cyanide market growth.
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United States Sodium Cyanide Market Segmentation
The market can be divided based on form and end use.
Market Breakup by Form
- Liquid (Solution)
Market Breakup by End Use
- Mining and Metallurgy
- Chemical Intermediate
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the United States sodium cyanide companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Cyanco International, LLC
- Orica Limited
- Sasol Limited
- Univertical International
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