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Global Hydrogen Cyanide Market to reach USD XX billion by the end of 2030.

Global Hydrogen Cyanide Market Size study & Forecast, by Structure Type (Hydrogen Cyanide Liquid, Hydrogen Cyanide Gas) by Application (Sodium Cyanide and Potassium Cyanide, Adiponitrile, Acetone Cyanohydrin, Other Applications), and Regional Analysis, 2023-2030

Product Code: CMCC-41525474
Publish Date: 20-05-2023
Page: 200

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.

Major market player included in this report are:
Air Liquide
Ascend Performance Materials Private Limited
Evonik Industries AG
Hindusthan Chemicals Company
Matheson Tri-Gas Inc.
Sumitomo Chemical Co., Ltd.
Triveni Chemicals & Industries Ltd
INEOS Group Limited
Taekwang Industrial Co., Ltd.
Sterling Chemical and Alcohol Ltd

Recent Developments in the Market:
Ø In July 2022, A study was done to find a green way to make sodium cyanide using hydrogen cyanide that was vacuum extracted from cassava leaves. In this investigation, sodium cyanide was extracted from cassava leaves after 120 minutes of maceration at 30 degrees Celsius and 45 minutes of recovery in a vacuum at 35 to 40 degrees Celsius. According to the study, hydrogen cyanide (HCN), which is derived from cassava leaves, was successfully used to produce sodium cyanide by saturating a sodium hydroxide-absorbing solution with it.

Global Hydrogen Cyanide Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Structure Type, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

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:

By Structure Type:
Hydrogen Cyanide Liquid
Hydrogen Cyanide Gas

By Application:
Sodium Cyanide and Potassium Cyanide
Adiponitrile
Acetone Cyanohydrin
Other Applications

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Hydrogen Cyanide Market, by Region, 2020-2030 (USD Billion)
1.2.2. Hydrogen Cyanide Market, by Structure Type, 2020-2030 (USD Billion)
1.2.3. Hydrogen Cyanide Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Hydrogen Cyanide Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Hydrogen Cyanide Market Dynamics
3.1. Hydrogen Cyanide Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Growing Usage in Adiponitrile Application
3.1.1.2. Increasing the use of Hydrogen Cyanide in the automotive industry
3.1.1.3. Rising gold extraction activities
3.1.2. Market Challenges
3.1.2.1. High Cost of Hydrogen Cyanide
3.1.2.2. Highly Toxic Nature of Hydrogen Cyanide
3.1.3. Market Opportunities
3.1.3.1. Huge Demand for Manufacturing of Sodium Cyanide and Potassium Cyanide
3.1.3.2. Increasing government initiatives and investments in the textile sector
Chapter 4. Global Hydrogen Cyanide Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Hydrogen Cyanide Market, by Structure Type
5.1. Market Snapshot
5.2. Global Hydrogen Cyanide Market by Structure Type, Performance – Potential Analysis
5.3. Global Hydrogen Cyanide Market Estimates & Forecasts by Structure Type 2020-2030 (USD Billion)
5.4. Hydrogen Cyanide Market, Sub Segment Analysis
5.4.1. Hydrogen Cyanide Liquid
5.4.2. Hydrogen Cyanide Gas
Chapter 6. Global Hydrogen Cyanide Market, by Application
6.1. Market Snapshot
6.2. Global Hydrogen Cyanide Market by Application, Performance – Potential Analysis
6.3. Global Hydrogen Cyanide Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Hydrogen Cyanide Market, Sub Segment Analysis
6.4.1. Sodium Cyanide and Potassium Cyanide
6.4.2. Adiponitrile
6.4.3. Acetone Cyanohydrin
6.4.4. Other Applications
Chapter 7. Global Hydrogen Cyanide Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Hydrogen Cyanide Market, Regional Market Snapshot
7.4. North America Hydrogen Cyanide Market
7.4.1. U.S. Hydrogen Cyanide Market
7.4.1.1. Structure Type breakdown estimates & forecasts, 2020-2030
7.4.1.2. Application breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Hydrogen Cyanide Market
7.5. Europe Hydrogen Cyanide Market Snapshot
7.5.1. U.K. Hydrogen Cyanide Market
7.5.2. Germany Hydrogen Cyanide Market
7.5.3. France Hydrogen Cyanide Market
7.5.4. Spain Hydrogen Cyanide Market
7.5.5. Italy Hydrogen Cyanide Market
7.5.6. Rest of Europe Hydrogen Cyanide Market
7.6. Asia-Pacific Hydrogen Cyanide Market Snapshot
7.6.1. China Hydrogen Cyanide Market
7.6.2. India Hydrogen Cyanide Market
7.6.3. Japan Hydrogen Cyanide Market
7.6.4. Australia Hydrogen Cyanide Market
7.6.5. South Korea Hydrogen Cyanide Market
7.6.6. Rest of Asia Pacific Hydrogen Cyanide Market
7.7. Latin America Hydrogen Cyanide Market Snapshot
7.7.1. Brazil Hydrogen Cyanide Market
7.7.2. Mexico Hydrogen Cyanide Market
7.8. Middle East & Africa Hydrogen Cyanide Market
7.8.1. Saudi Arabia Hydrogen Cyanide Market
7.8.2. South Africa Hydrogen Cyanide Market
7.8.3. Rest of Middle East & Africa Hydrogen Cyanide Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Air Liquide
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Recent Developments
8.3.2. Ascend Performance Materials Private Limited
8.3.3. Evonik Industries AG
8.3.4. Hindusthan Chemicals Company
8.3.5. Matheson Tri-Gas Inc.
8.3.6. Sumitomo Chemical Co., Ltd.
8.3.7. Triveni Chemicals & Industries Ltd
8.3.8. INEOS Group Limited
8.3.9. Taekwang Industrial Co., Ltd.
8.3.10. Sterling Chemical and Alcohol Ltd
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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