PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279885
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279885
Global Hydrogen Cyanide Market is valued approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Hydrogen cyanide is primarily used in industrial processes, such as the production of synthetic fibers, plastics, and dyes. It is also used in the manufacturing of certain pharmaceuticals, fumigation agents, and pesticides. The Hydrogen Cyanide market is expanding because of factors such as growing usage in adiponitrile application, increasing the use of hydrogen cyanide in the automotive industry and rising gold extraction activities.
The market for hydrogen cyanide is being driven by the enormous demand to produce sodium cyanide and potassium cyanide. For the synthesis of carboxylic acids and nitriles, potassium and sodium cyanides are frequently utilized. However, these are primarily employed in the mining of gold and silver, as well as in the electroplating of these metals. Global production of gold and silver is continuously rising due to the rising investments in these precious metals. According to World Gold Council total gold mine production in year 2021 stood at 3,568.9 tones which increased to 3,611.9 tones in year 2022. Thus, rising gold products are fostering the market growth. Along with these, Numerous sectors, including the automotive, textile, and electronics industries, have seen a sharp increase in demand for nylon. As a result, it is anticipated that demand for adiponitrile would increase quickly along with the growing use of nylon. For instance, the output of the textile industry in the United States reached USD 16.59 billion in 2021, a rise of 7.2% from the fourth quarter of 2020. in addition, huge demand for manufacturing of sodium cyanide and potassium cyanide and increasing government initiatives and investments in the textile sector is creating lucrative growth to the market. However, the high cost of Hydrogen Cyanide stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Hydrogen Cyanide Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rising demand from gold extraction activities, rising automotive industry, and textiles industry in the region. Whereas, North America is projected to have significant growth owing to factors such as rising technological advancement, and the presence of key market players.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Structure Typeofferings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable