USD 2.5 billion
Sodium Cyanide Market Size, Share, and Growth Analysis
Sodium Cyanide Market By Product Type (Solid Sodium Cyanide, Liquid Sodium Cyanide), By Industry (Mining, Chemical), By Sales Channel (Direct Sales, Distributor), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG10C2029 |
Region:
Global |
Published Date: January, 2025
Pages:
176
|Tables:
86
|Figures:
72
Format -
Sodium Cyanide Market Insights
Global Sodium Cyanide Market size was valued at USD 2.5 billion in 2023 and is poised to grow from USD 2.62 billion in 2024 to USD 3.78 billion by 2032, growing at a CAGR of 4.7% during the forecast period (2025-2032).
An inorganic toxic solid with a strong affinity for metals is sodium cyanide, or NaCN. It is a raw material used in the metal, agrochemical, dye & pigment, and pharmaceutical sectors. Due to its toxicity, it is also utilized as a pesticide and in analytical testing. The voluntary programme known as the International Cyanide Management Code for the Manufacture, Transport, and Use of Cyanide in the Production of Gold, or simply the Cyanide Code, was created to support the world's gold mining sector. Additionally, it supports the enhancement of cyanide management procedures for producers and transporters of cyanide used in gold mining, as well as their ability to openly exhibit adherence to the Cyanide Code via an impartial and open procedure.
White solid sodium cyanide (NaCN) is an inorganic chemical compound that dissolves in water. It is used as a pesticide in various chemicals to keep bugs out of agricultural farms and as a flotation agent in the mining sector to extract gold and silver from mineral ores. Over 90% of the world's gold producers use sodium cyanide, which is in high demand due to the expansion of mining operations. Leading gold-producing nations like Australia, China, and Russia are big users of this substance. Due to the growing demand for the precious metal worldwide, there has been an increase in gold extraction activities in major producing nations, which is responsible for this surge in market expansion.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Chemical
Fastest Growth
Mining
Growth Rate
4.7% CAGR
Global Sodium Cyanide Market ($ Bn)
Country Share by North America (%)
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Sodium Cyanide Market Segments Analysis
Global Sodium Cyanide Market is segmented by Product Type, Industry, Sales Channel and region. Based on Product Type, the market is segmented into Solid Sodium Cyanide and Liquid Sodium Cyanide. Based on Industry, the market is segmented into Mining, Chemical, Dye and Textile and Pharmaceutical. Based on Sales Channel, the market is segmented into Direct Sales and Distributor. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Industry
As per categorization by type, the market is classified into mining, chemical, dye & textile and pharmaceutical. Among these, chemical earned the largest share and continue to dominate the market. Significant innovation is now taking place in the global sodium cyanide market, especially in the mining industry where the chemical is widely employed to extract gold. Technological developments in chemical formulation and recycling are improving this application's environmental sustainability and efficiency. Businesses are spending more money on strategies to lessen the environmental impact of sodium cyanide, such as better systems for recovering and treating waste. Furthermore, in order to ensure compliance and reduce hazards, safer handling and transportation procedures are being developed in response to regulatory demands and rising environmental consciousness.
Due to rising demand and industrial expansion, the mining, dye and textile, and pharmaceutical industries are anticipated to grow at the quickest rates in the global sodium cyanide market. Due to the increase in gold production in mining, especially in emerging economies, a significant amount of sodium cyanide must be used to extract gold. Due to the growing demand for fashion worldwide, the dye and textile industries need sodium cyanide to process synthetic fibers. It is used in organic synthesis by the pharmaceutical industry, where demand for it is growing due to the increased manufacturing of complex chemical compounds and pharmaceuticals.
Analysis by Product
Liquid sodium cyanide is becoming more and more popular in the global sodium cyanide market as it is convenient to handle and effective when used, especially in the mining sector for gold leaching procedures. Improved safety features and accurate dosing systems are examples of innovations that reduce environmental impact and boost recovery rates. In order to comply with strict requirements, companies are concentrating on creating closed-loop systems for recovery and reuse as well as enhancing storage stability and transit safety. This will help to reduce any possible risks linked with the substance's liquid form.
As it is more stable, convenient to store, and more efficient to transport than liquid sodium cyanide, solid sodium cyanide is expected to grow at the quickest rate in the global sodium cyanide market. Due to its granular structure, which lowers the possibility of spills and leaks during handling, it is more attractive in areas with strict safety rules. Additionally, solid sodium cyanide's longer shelf life and less expensive transportation make it a preferred option for the expanding gold mining industry, especially in isolated places. These elements, together with its efficiency in processing ore, are what are causing its growing use.
Global Sodium Cyanide Market By Industry (%)
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Sodium Cyanide Market Regional Insights
The expansion of the mining industry in recent years, especially in the U.S. market, which is largely focused on reducing its dependency on imports of minerals from other countries, is what is driving the need for sodium cyanide throughout the North American market. The U.S.-China trade war, which started in 2018, has made geopolitical unrest more intense, which has had a major effect on China's low-cost raw material imports. Sodium cyanide has a sizable market in the Asia-Pacific region, which is anticipated to expand throughout the projection period. This chemical is in high demand in a number of Asian nations, mostly from the mining, electroplating, and chemical synthesis sectors. These nations include China, Japan, and South Korea.
Latin America is the region with the greatest rate of growth in the global sodium cyanide market, primarily due to the robust mining activity in countries such as Brazil and Argentina. Europe continues to grow steadily due to strict laws that encourage the use of safer and more environmentally friendly chemicals, especially in mining and other industrial applications. The Middle East and Africa region is expanding at the same time as a result of a rise in mining activities and industrial development; South Africa, for example, is the world's top producer of gold, which increases the demand for sodium cyanide.
Global Sodium Cyanide Market By Geography
- Largest
- Fastest
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Sodium Cyanide Market Dynamics
Drivers
Expansion of the Mining Industry
- The growth of the mining sector, especially in the gold mining sector, is the main factor propelling the global sodium cyanide market. The leaching technique, which is widely used to extract gold from ore, depends on sodium cyanide. Due to the rising demand for gold due to its usage in jewellery and electronics, as well as its value as a safe haven for investors, mining activities have increased, which has increased the need for sodium cyanide.
Technological Developments in Mining
- The development of mining technologies that improve the efficacy and efficiency of sodium cyanide in the extraction process is another important factor. The use of sodium cyanide is becoming increasingly appealing due to innovations including precision dosing methods, enhanced leach recovery rates, and environmentally friendlier cyanide management techniques. In addition to optimising gold yield, these technologies aid in adhering to safety and environmental regulations, which are tightening worldwide.
Restraints
Environmental and Health Concerns
- The substantial health and environmental dangers connected with the usage of sodium cyanide are a key impediment to the global sodium cyanide market. As sodium cyanide is so deadly, spills can have disastrous consequences for both human health and ecosystems. Due to the tight regulatory frameworks and scrutiny imposed by environmental organisations, industries now have to pay higher compliance costs and occasionally have their use restricted, particularly in areas where environmental restrictions are strict.
No Development of Alternative Technologies
- The market for sodium cyanide is also being restrained by the advancement of substitute gold extraction methods that do not use cyanide. In comparison to cyanide leaching, processes like bioleaching and thiosulfate leaching are thought to be more environmentally friendly and are becoming more commercially viable. The demand for sodium cyanide in conventional markets, such as gold mining, may decline if alternative technologies acquire traction and acceptability. These substitutes are especially desirable in areas where ecological sustainability is valued more highly than conventional practices.
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Sodium Cyanide Market Competitive Landscape
A small number of multinational businesses control the majority of the sodium cyanide market worldwide; the top 10 corporations have between 55 and 60 percent of the market share. These businesses are making significant investments in R&D to produce eco-friendly goods, demonstrating the growing significance of sustainability in the sector. Important firms are also broadening their product offerings and pursuing mergers and acquisitions in order to hold onto and grow their market shares. As a result, smaller businesses are up against more competition and may even find themselves bought by bigger firms as the industry becomes more consolidated. The sector is expected to continue its trend of consolidation and sustainability investment, emphasising product innovation and responsible practices to keep up with changing consumer needs.
Top Players in Sodium Cyanide Market
- Orica Limited (Australia)
- The Chemours Company (USA)
- Sasol Limited (South Africa)
- Draslovka Holding a.s. (Czech Republic)
- CyPlus GmbH (Germany)
- Hebei Chengxin Co., Ltd. (China)
- Shandong Gold Mining Co., Ltd. (China)
- Inner Mongolia Yuanxing Energy Co., Ltd. (China)
- Australian Gold Reagents Pty Ltd (Australia)
- Buckman (USA)
- Ercros S.A. (Spain)
- Gujarat Alkalies and Chemicals Limited (India)
- Kemcore (South Africa)
- African Explosives Limited (South Africa) (AEL)
- PT Aneka Kimia Raya Tbk (Indonesia)
- Oman Chemicals Trading Co LLC (Oman)
- Sibirskaya Gornaya Kompaniya (SGK) (Russia)
- Kazakhmys Corporation (Kazakhstan)
- Navdeep Chemicals Pvt. Ltd. (India)
- Chemtrade Logistics Inc. (Canada)
Recent Developments
- In December 2021, Global chemistry and advanced materials company The Chemours Company announced that it has closed the sale of its mining solutions division to Draslovka a.s., a private chemical company based in the Czech Republic that specializes in producing cyanide for use in mining and other activities, for $521 million.
- In June 2022, A recent study described a novel process that uses green synthesis to produce sodium cyanide from cassava leaves. The industries that employ this product are anticipated to become more interested as a result of this innovation, which will boost market growth going forward.
- In July 2022, The Czech Republic-based family-run specialty chemical leader Draslovka Holding a.s. announced that it has acquired Intreso Group. The acquisition will increase Draslovka's skills and market reach in the pest management industry while supporting the company's focus on creating and supplying next-generation fumigants and biocides.
Sodium Cyanide Key Market Trends
- Growing Emphasis on Sustainable and Safer Cyanide Practices: The handling and application of sodium cyanide is becoming more ecologically friendly and safer, especially in the gold mining industry. Businesses are spending money on methods and technology that reduce the harm that cyanide causes to the environment. One example is closed-loop systems, which let sodium cyanide be recycled and used again in mining operations. Stricter environmental laws and the growing social responsibility requirements that communities and stakeholders are demanding are other factors driving this change.
- Rising Adoption of Heap Leaching Technology in Emerging Economies: The technique of heap leaching has gained significant traction in developing nations as it is an economical and effective way to recover gold from low-grade ores. This process, which calls for large amounts of sodium cyanide, is seen to be a good choice for mining firms that are working under tighter financial constraints and in areas with laxer environmental regulations. The need for sodium cyanide is predicted to rise as heap leaching methods spread, especially in Latin America and Africa where fresh gold resources are frequently extracted with this method.
Sodium Cyanide Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the demand for sodium cyanide, which is necessary for the gold leaching process, is expanding dramatically due to the growth of the gold mining industry, which is being driven by the increased demand for gold for use in electronics, jewellery, and as a safe haven for investments. In areas where environmental rules are stringent, the market for sodium cyanide is severely challenged by the health and environmental dangers it poses. These risks include the possibility of catastrophic leaks and increased regulatory attention.
With a majority market share of 55 to 60 percent, a small number of multinational corporations dominate the global sodium cyanide market. These companies are progressively emphasizing sustainability and growing their market share through acquisitions, mergers, and product diversification, which is increasing industry consolidation and competition for smaller businesses. Due to increased environmental laws, increased demands for social responsibility, and investments in technologies like closed-loop systems, the global sodium cyanide market is shifting towards safer and more sustainable cyanide methods in the gold mining industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.5 billion |
| Market size value in 2032 | USD 3.78 billion |
| Growth Rate | 4.7% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Sodium Cyanide Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Sodium Cyanide Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Sodium Cyanide Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sodium Cyanide Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sodium Cyanide Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sodium Cyanide Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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