Global Sodium Cyanide Market Size is Expected to Grow to $3175.23 Million by 2028

Global Sodium Cyanide Market Overview

According to Global Market Monitor, the global sodium cyanide market size will reach $2717.86 million in 2023 and is expected to grow to $3175.23 million by 2028.

Sodium cyanide is an inorganic compound that has a high affinity for metals, which leads to the high toxicity of the salt. With its high reactivity towards metals, it is mainly applied in gold mining. Sodium cyanide is a common industrial chemical that can be obtained at a relatively low cost. Considering technical and economic reasons, cyanide is the priory chemical for recovering gold from ore.

Sodium Cyanide Industry Regional Distribution

The production areas of sodium cyanide are mainly China, South Korea, the United States, Europe, and Australia, of which the USA is the largest producer around the world. In recent years, China's exports of solid sodium cyanide to South America, Africa, Australia Central Asia, Southeast Asia, and other regions have been increasing, indicating that the demand for solid sodium cyanide from China in various countries in the world is expanding.

The mining industry is also witnessing healthy growth in the United States due to favorable changes in the policies, propelling the sodium cyanide market 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 the market growth. Its excellent blending property makes it a useful intermediate in the electroplating industry. Other applications, such as fumigation, silver refinement, steel hardness, and dye manufacturing are expected to drive demand for sodium cyanide during the forecast period.

Market Drivers and Challenges

Sodium cyanide is mainly used in mining operations to extract gold from ore by heap leaching or barrel leaching. In addition, it is used in other industries such as electroplating, pesticides, pharmaceuticals, ore extraction, dyes, cleaning metals, and chelating agents. As the growing demand for precious metal mining and downstream sodium cyanide products, the global sodium cyanide market will continue to expand. Sodium cyanide has huge market potential in the future.

Although sodium cyanide has been widely used in the mining industry, the use of it has received increasing attention in recent years due to its adverse impact on the environment. Sodium cyanide itself decomposes quickly in water, but the broken-down compounds can pose a great danger to wildlife and humans in the area. This is especially important in cases where sodium cyanide leaks into groundwater sources, as it can cause widespread contamination and last a long time. In addition, strict government regulations limit the toxicity of sodium cyanide and the availability of alternatives such as thiosulfate that are relatively safer than sodium cyanide. These are also major factors that will hinder the growth of the global sodium cyanide market.

Drivers	Rising mining and metallurgical activities provide important development opportunities for sodium cyanide.
	Good Product Performance
	Rising Chemical Manufacturing Activities
	Use of Sodium Cyanide as Extraction Agent for Precious Metals
Challenges	Negative impact of sodium cyanide on the environment limiting market growth
	Policy Restrictions