Global Sodium Cyanide Market 2017-2021

Overview of the global sodium cyanide market

Sodium cyanide is one of the most preferred chemical in the mining industry for the extraction and separation of various precious metals. With the growing preference among individuals towards investments, there is an increasing need for the extraction of metals like gold. This will in turn, increase the need for sodium cyanide in this industry. Moreover, the expansion of mining and new projects for the exploration and production of gold, such as the Rainy River project and the Blackwater project in Canada and the expansion of the Eastern Dragon mine in China, also contribute to the consumption of sodium cyanide from the mining industry. Technavio's sodium cyanide market forecast identifies this demand from the mining industry as one of the major factors that will have a positive impact on the sodium cyanide market size. Our market sodium cyanide market analysis predicts that this market will grow at a CAGR of more than 5% by 2021.

The rising preference for non-toxic natural dyes is one of the key trends that will gain traction in the sodium cyanide market during the next few years. Natural dyes are made from plants, minerals, or invertebrates. These dyes are biodegradable and are environment-friendly and can serve as a substitute to chemical dyes. To cater to the rising need from the environment-conscious customers, textile manufacturers are also focusing on the development of natural dyes. This need for natural dyes in the textile segment will subsequently fuel the need for sodium cyanide.

Competitive landscape and key vendors