Procurement Resource’s New Sodium Cyanide Industry Intelligence Report (2022) – Analyses the Key Sourcing Strategies, Demand Indicators, Price Drivers, and Supplier Assessment

Category Driver

The global sodium cyanide market is being driven by the growing mining activities, especially in the Asia Pacific region. The ever-increasing demand for precious metals like gold is encouraging increased mining in the region, by both national and international mining companies. The easy availability of feedstock, hydrogen cyanide, is aiding the market growth in the region. The demand for precious metals is aiding the growth of precious metals mining industries, especially in regions like Africa and Oceania, where the demand for sodium cyanide is growing. The mining industry is also witnessing healthy growth in the United States due to favourable changes in the policies; thus, further propelling the sodium cyanide industry forward. The market is also driven by the growing demand from the application sectors like chemical intermediates and other materials. The use of sodium cyanide in the electroplating industry is also supporting industry growth. Its excellent blending property makes it a useful intermediate in the electroplating industry. Likewise, sodium cyanide has been widely used by electroplating companies across the world for its better blending properties.

Industry Developments in terms of Technology/Innovation/R&D/Sustainability

There are various companies worldwide that are continuously making efforts to improve the safety and quality of their shipments and make the adaptable inner side of the containment more resistant. In July 2021, Cyanco announced a noteworthy advancement to its wooden boxes that will save its Solid sodium cyanide customers time and investment, advance the safety of their box handling, and decrease product damage in shipment. The customers would no longer need to open the plastic liner manually to reach the lifting straps. In addition, Australian Gold Reagents has proposed to WESTERN Australia’s Environmental Protection Authority in 2021 to expand its production at the Kwinana sodium cyanide plant as part of a seven-day public comment period.

Key Findings of the Report:

• Sodium cyanide refers to an inorganic compound with the chemical formula, NaCN. It is a clean and clolourless sodium salt and is a water-soluble solid. Cyanide has a superior resemblance to metals, which results in the high level of toxicity of this salt.
• The key application sector for the product is gold mining, which also exploits the high metal reactivity of the product. It is an enormously poisonous substance that blocks many metabolic processes and is often used as a test reagent for the role of chemoreceptors.
• The sodium cyanide market industry report comprises segments based on end-use products and regions. End-use segments are divided into mining, chemical, and other end-user industries. Geographically, the global sodium cyanide market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
• There has been an immense negative impact of the COVID-19 pandemic on most regions, industries, and economies and these stands correct for the sodium cyanide market too. Except for pharmaceuticals, almost all industrial applications of sodium cyanide were undesirably affected by the pandemic.
• The global sodium cyanide market is being driven by the growing mining activities, especially in the Asia Pacific region. The ever-increasing demand for precious metals like gold is encouraging increased mining in the region, by both national and international mining companies.
• The mining industry is also witnessing healthy growth in the United States due to favourable changes in the policies; thus, further propelling the sodium cyanide industry forward
• Nearly half of the global supply of sodium cyanide is supplied by the Asia Pacific region, the primary drivers being the region’s readily available feedstock and high-capacity installation.
• China, a significant market within the Asia Pacific region, has a high domestic demand for sodium cyanide. It is also a major exporter, exporting to countries like Latin America, Africa, and India. North America follows the Asia Pacific as the leading supplier and exporter of the substance.

Why Choose Procurement Resource?

• The sodium cyanide report includes preferred sourcing strategies by key suppliers present in the category
• The report provides an overview of the production process along with recent technologies being positioned
• The information regarding price movement, price hedging, and demand-supply is also included in the report
• The sodium cyanide industry report further offers category-specific regional trends and market dynamics
• The report also covers supplier profiles including financial data, product portfolio, and recent category-based initiatives 
• It provides extensive data pertaining to the demand, supply, cost, and pricing of sodium cyanide, along with an in-depth analysis of key indicators of category demand and pricing 
• The sodium cyanide industry report provides category-based buyer and supplier negotiation levers and sourcing and procurement practices
• The report extensively assesses the demand influencing and restricting factors on a regional and global level

About Us:

At Procurement Resource we have a team of highly skilled and seasoned experts who undertake extensive research to deliver our customers the newest and most up-to-date sourcing and procurement reports, cost models, price analysis, benchmarking, and category insights, which support our clientele to simplify their procurement process. Procurement Resource ensures that our clients remain at the forefront of their industries by offering actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts. We work with a varied collection of procurement teams across industries to get insights and real-time data that our customers can effectively execute. Our team also tracks the prices and production costs of a broad range of goods and commodities, thus, providing our clients with updated and reliable data. We, at Procurement Resource, with the help of the latest and cutting-edge methodologies in the industry, assist our clients to understand the supply chain, procurement, and industry environment to form strategies that ensure their optimum growth and success in every step.

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