(EnergyIndustry.Net, March 23, 2020 ) Hydrogen Cyanide Market Overview The Global Hydrogen Cyanide Market was worth USD 2726.2 million in 2018 and is forecasted to reach USD XX million by 2026, growing at a CAGR of XX% during the forecast period (2019-2026).
Key Points: • Increasing demand for manufacturing of sodium cyanide and potassium cyanide and increasing applications of HCN in Adiponitrile production are the major drivers for the growth of the market. • Growing alternatives for the hydrogen cyanide and high toxicity of hydrogen cyanide are the restraints that are hindering the market growth • The Global Hydrogen Cyanide Market Value, by production from the Andrussow Process, was valued at $1455.8 million in 2018 with an estimated CAGR of 2.50% during the forecast period. • The Global Hydrogen Cyanide Market for Adiponitrile application was valued at $1368.6 million in 2018 with an estimated CAGR of 2.28% during the forecast period. • The Asia Pacific accounted for the highest market share in 2018. China accounted the majority share of the market with 54% followed by Japan and India with 11% and 9% of the total Asia-Pacific market, respectively. • The North America market is growing at a CAGR of 2.05% during the forecast period (2018-2026). • Companies are expanding their production capacities to meet increasing demand from consumers.
Hydrogen Cyanide Market Dynamics Increasing demand for manufacturing of sodium cyanide and potassium cyanide and increasing applications of HCN in Adiponitrile production are the major drivers for the growth of the market. The massive demand for the production of sodium cyanide and potassium cyanide is driving the market for Hydrogen cyanide. Potassium Cyanide and Sodium Cyanide are widely used in the organic synthesis for the production of nitriles and carboxylic acids. However, these are used mainly in gold and silver mining, and also for electroplating of these materials. With the increasing investments in gold and silver, the global gold and silver production is continuously increasing. The global gold production increased from 2730 tonnes in 2012 to 3247 tonnes in 2017, and it is expected to rise with more pace during the forecast period. The increasing gold production will call for more production of sodium cyanides and potassium cyanides. Increasing applications of adiponitrile are another key driver for global HCN market as approximately 90% of HCN is used as a raw material for adiponitrile which is in-turn used in producing nylon 66 for fiber and plastic production. Adiponitrile is a colorless organic liquid compound used for the synthesis of hexamethylenediamine, which is used for the production of polymer nylon 6-6. Adiponitrile is used in various applications such as carpet fibers, conveyor belts, electro-insulating elements, plastic industry, automotive industry, and strings in musical instruments, tire cords, textile industry, and ropes. The growing use of Adiponitrile in plastic, fiber and textile industries is expected to fuel market demand over the forecast period. Moreover, increasing demand from the plastics and automotive sector for nylon 6-6 will be the key driver for rising demand over the projected period. Market Segmentation By Production Process • Andrussow Process • BMA • Others By Application • Sodium Cyanide and Potassium Cyanide • Acrylonitrile • Cyanogen chloride • Adiponitrile • Acrylates and Methacrylates cyanide • Others (Adiponitrile, Cyanuric chloride, Ferrocyanide)
Geographical Analysis • North America • Europe • South America • Asia Pacific • The Middle East and Africa Hydrogen Cyanide Companies Some of the key market players are Asahi Kasei, Ascend Performance Materials Operations LLC, Evonik Industries, Cornerstone Chemical Company, Sinopec, Bluestar Adisseo, BP Chemicals, Sumitomo Chemical, Dow-DuPont, INEOS Group Holdings S.A. and Taekwang Industrial Co., Ltd.
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