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In the mining industry, sodium cyanide is often used to leach precious metals such as gold and silver. With the expansion of the global mining scale for precious metals, the demand for sodium cyanide is also increasing. Sodium cyanide manufacturers around the world are also continuing to expand their production scale to meet market demand. For instance, Cyanco announced the expansion of its manufacturing plant in Nevada, the USA in 2018, for the continuous supply of sodium cyanide around the world.
This article will analyze the sodium cyanide market situation from the following 3 aspects.
1. The distribution of global sodium cyanide production capacity
2. The favorable factors affecting the sodium cyanide market
3. The unfavorable factors affecting the sodium cyanide market
In 2015, the global total production capacity of sodium cyanide was approximately 1.79 million tons per year (calculated as 100% sodium cyanide, the same below), and the output was approximately 1.35 million tons. In 2019, the global total production capacity of sodium cyanide is about 1.92 million tons, and the total output is about 1.45 million tons. The average annual growth rate of output from 2015 to 2019 is about 1.8%. The global production of sodium cyanide from 2015 to 2019 is shown in Figure 1.
In 2019, global sodium cyanide production was mainly distributed in Asia, accounting for approximately 59% of the total global production capacity, followed by North America, Oceania and Europe, accounting for 15%, 9% and 14% respectively. The distribution of global sodium cyanide production capacity in 2019 is shown in Figure 2. The main global sodium cyanide manufacturers include Hebei Chengxin Group of China, Cyanco of the United States, Anhui Shuguang Chemical of China, Orica of Australia, Chemours of the United States, TongshuPetro of South Korea, Cyplus of Germany, Gold Reagents of Australia, etc.
The global sodium cyanide market is a stable pattern, with a few large manufacturers occupying a large market share, and many small and medium-sized enterprises are competing for the remaining market share. The Asia-Pacific region, the Middle East and Africa are the main exporters of sodium cyanide, while Latin America and European countries are the main importers of sodium cyanide.
In summary, the main driving factor for the future market growth of sodium cyanide is the continuous development of the downstream precious metal smelting industry. At present, there are still a large number of gold and other precious metal deposits to be mined around the world. With the continuous advancement of exploration technology, there is still a lot of room for the production of gold and other precious metals to rise. In addition, the growth of chemicals, electroplating and other industries is also an important factor driving the growth of the sodium cyanide market.
From a policy point of view, due to environmental pressures, many countries have begun to introduce policies to restrict the use of sodium cyanide, and low-toxic gold leaching chemicals will have a certain impact on the sodium cyanide market.
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