Sodium cyanide is a highly toxic salt that commonly appears as a white solid and is redolent of almonds. It is soluble in water, ammonia, methanol, and ethanol. Sodium cyanide can be segmented into two types based on forms; solid sodium cyanide and liquid sodium cyanide. Following are the major applications of sodium cyanide:
Mining: Sodium cyanide is extensively used in the mining industry. The main use of sodium cyanide in mining is the extraction of gold and other precious metals. Gold is highly reactive to cyanide, therefore, it is explicitly used in gold mining.
Chemical feedstock- Sodium cyanide helps in producing several commercially significant chemical compounds such as cyanogen chloride, many types of nitriles, and cyanuric chloride. Nitriles are present in many chemicals, and it has vast usage in the pharmaceutical industry. Furthermore, sodium cyanide is used as an agricultural chemical and pesticide. It can also be used to produce hydrocyanic acid.
The global sodium cyanide market was valued at ~1 million tons in 2020 and it is expected to grow at a CAGR of 6% from 2020 to 2027 owing to increasing demand from the mining industry. The mining industry is the largest end-user segment of the global sodium cyanide market with more than 70% market share in 2020. APAC countries like China, South Korea, and Australia are the largest producers of sodium cyanide accounted for more than 50% share in the global sodium cyanide industry, followed by the U.S. and Germany. Liquid sodium cyanide has higher demand than solid sodium cyanide. Liquid sodium cyanide accounted for more than 60% of the global sodium cyanide demand.
Industrial sodium cyanide is produced from metallic sodium, charcoal, and ammonia. In this process, molten sodium, ammonia, and charcoal react to form Sodium Cyanide. The procurement cost of these chemicals plays a very crucial role in determining the sodium cyanide production cost. The cost of raw materials accounted for more than 50% of the overall cost of production followed by machinery, equipment, and labor costs. As the price of raw material is highly volatile, sodium cyanide manufacturers outsource their production to low-cost countries like China to maintain the profit margins.
The covid-19 pandemic has had a significant impact on the global sodium cyanide production in 2020. As many governments were forced to impose lockdown in large-scale industrial production, the demand for sodium cyanide from the mining industry witnessed a massive setback. The industrial production of sodium cyanide halted for a while due to lockdown and low demand. Moreover, many developed countries like the U.S. and Germany are imposing stringent regulations in using sodium cyanide due to its toxicity.
The Chemours Company, Cyanoco, Orica Ltd., Australian Gold Reagent, Hebei Chengxin, Anhui Shuguang Chemical Group, Tongsuh Petrochemical, Taekwang Industrial, CyPlus (Evonik) are some of the key suppliers of sodium cyanide. The global sodium cyanide industry features a moderately consolidated landscape with the top ten players contributing around 60% of the market share. Leading suppliers are strengthening their presence through multiple mergers, acquisitions, and partnerships. Grand View Research will help our client identify the best-suited suppliers by mapping their core capabilities and operational efficiency.
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
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Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
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