Sodium Cyanide Market

Sodium Cyanide Market: Description

• Sodium cyanide is manufactured by treating hydrogen cyanide with sodium hydroxide at an elevated temperature. The compound is highly poisonous. It remains stable at high temperatures in the complete absence of carbon dioxide, air, and moisture. Sodium cyanide is widely used in gold mining due to its high affinity toward metals. Additionally, it is employed in other industries such as electroplating, agrochemicals, pharmaceuticals, ore extraction, dyes, cleaning metals, and chelating agents.
• The cyanide production process has lower environmental impact vis-à-vis other leaching chemicals such as bromine, chlorine, and thiourea. Several other biological media are under consideration to recover gold from ores; however, no one has come up with a more cost-effective and productive method than leaching with cyanide. This factor is likely to drive the global sodium cyanide market.

 Key Growth Drivers of Sodium Cyanide Market

• Cyanide is one of few chemical reagents that dissolves gold in water. It is a common industrial chemical that is readily available at a reasonably low cost. For technical and economic reasons, cyanide is the chemical of choice for the recovery of gold from ores. It has been used in metal extraction since 1887. Currently, it is safely used and managed in gold recovery around the world. Highly dilute solutions of sodium cyanide, typically in the range of 0.01% and 0.05% cyanide (100 to 500 parts per million), are employed in gold mining operations.
• Cyanide is employed in mining to extract gold (and silver) from ores, particularly low-grade ores, and ores that cannot be readily treated through simple physical processes such as crushing and gravity separation. The use of water-based solutions to extract and recover metals such as gold is called hydrometallurgy.
• The demand for flotation reagents such as sodium cyanide has been increasing due to decline in the quality of gold and silver ores. Sodium cyanide, being economic, is widely used in the extraction of gold. The prices of gold have been fluctuating since the last few years. Therefore, manufacturers are focused on the extraction of gold from deeper mines that have been winding down. Consequently, demand for sodium cyanide has been rising significantly, as such, boosting the growth of the sodium cyanide market.
• Local and foreign investments have been increasing in the mining sector in Latin America. This is driving the demand for reagents, such as sodium cyanide, for gold and silver extraction.
• Almost 90% of global gold production utilizes sodium cyanide. Gold ore, after being crushed into powder, is added to the sodium cyanide solution. This results in the strong bonding of gold molecules to the sodium cyanide. The application of zinc then separates the cyanide from the gold, resulting in the formation of solid gold.
• The consumption of sodium cyanide per ton of ore processed has been increasing, owing to gradual decline in the average content of gold across the globe.

Major Challenges for Sodium Cyanide Market

• The use of cyanide (CN) compounds in the mining industry raises several conflicting and confusing issues. Mining regulatory authorities state that, cyanide rapidly breaks down in water in the presence of sunlight into largely harmless substances such as carbon dioxide and nitrate.
• Cyanide oxidizes when exposed to air or other oxidants, and therefore, it decomposes. It is a deadly poison when ingested in a sufficiently high dose. However, it does not lead to chronic health or environmental problems when present in low concentrations.

Lucrative Opportunities for Sodium Cyanide Market

• Approximately 90% of sodium cyanide is used for gold and silver processing in North America. Around 75% is used for this purpose, worldwide. Nonetheless, sodium cyanide is also employed as a chemical intermediate, specifically in locations with lack of local supply of hydrogen cyanide, since sodium cyanide can be transported and stored. For instance, sodium cyanide is primarily employed in chemicals in Japan and Europe, while it is majorly employed for gold extraction in North and South America, Australia, South Africa, and China.
• Off late, the sodium cyanide market has transformed owing to fluctuation in the prices of gold. Gold mining companies have been investing in new grass root exploration projects. These companies are also expanding their activities in mines that have been winding down.

Asia Pacific to Dominate Sodium Cyanide Market

• Asia Pacific and the Middle East & Africa are leading sodium cyanide exporters, while some countries in Latin America and Europe import large volumes of the product.
• China is a key country in the sodium cyanide market in Asia Pacific, owing to the expansion of industries such as mining and chemicals in the country. China is a major hub for chemical- and medical-related products. Dyes, chemical pests, and casting products are employed in chemical- and medical-related products due to their superior properties such as cost effectiveness and efficiency as compared to other alternatives.

Mining End-use Industry to Account for Prominent Share

• Based on end-use industry, the mining segment accounted for a major share of the global sodium cyanide market in 2018. The segment is anticipated to continue its dominance during the forecast period, due to its suitability in various end-use areas.
• Sodium cyanide is commonly employed in mining applications to extract gold and other precious metals from their ores. It is sold as either a liquid or solid briquette. Its strength, usually quoted on a molar basis, can range anywhere from 98% and above.
• Sodium cyanide is ideal for gold processing, as it is cost-effective, quick to process, and readily available. Approximately 85% to 90% of gold production companies utilize sodium cyanide.

Leading Players Actively Engage in Joint Ventures and R&D Activities

• Key players operating in the global sodium cyanide market include 
  • Cyanco
  • Australian Gold Reagents Pty Ltd
  • Asahi Kasei Corporation
  • Orica Limited
  • Sasol Limited
  • The Chemours Company
  • Evonik Industries AG
  • Changsha Hekang Chemical Co., Ltd.
  • Draslovka Holding B.V.
  • Gujarat Alkalies and Chemicals Limited
  • PJSC LUKOIL
  • Taekwang Industry Co, Ltd.
  • American Elements, 
  • Wesfarmers Limited. 
• These companies engage in expansions, mergers & acquisitions, and joint ventures to maintain their share in the global sodium cyanide market.
• On February 22, 2017, CyPlus Idesa S.A.P.I de C.V. officially opened its sodium cyanide production plant with an inauguration ceremony in Coatzacoalcos (Veracruz, Mexico). This new sodium cyanide plant has a capacity of 40,000 metric tons, and uses state-of-the-art hydrocyanic acid and cyanide technologies.