Sodium Cyanide Market Size, Share, Growth Analysis, By Product(Solid Sodium Cyanide and Liquid Sodium Cyanide), By Industry(Mining, Chemical, Dye & Textile and Pharmaceutical), By Sales Channel(Direct Sales and Distributed), By Region - Industry Forecast 2024-2031

Global Sodium Cyanide Market size was valued at USD 2202.25 million in 2022, USD 2303.55 million in 2023 and is projected to grow USD 3155.87 million by 2031, growing at a CAGR of 4.6% in the forecast period (2024-2031).

An inorganic toxic solid with a strong affinity for metals is sodium cyanide, or NaCN. It is a raw material used in the metal, agrochemical, dye & pigment, and pharmaceutical sectors. Due to its toxicity, it is also utilized as a pesticide and in analytical testing. The voluntary programme known as the International Cyanide Management Code for the Manufacture, Transport, and Use of Cyanide in the Production of Gold, or simply the Cyanide Code, was created to support the world's gold mining sector. Additionally, it supports the enhancement of cyanide management procedures for producers and transporters of cyanide used in gold mining, as well as their ability to openly exhibit adherence to the Cyanide Code via an impartial and open procedure.

White solid sodium cyanide (NaCN) is an inorganic chemical compound that dissolves in water. It is used as a pesticide in various chemicals to keep bugs out of agricultural farms and as a flotation agent in the mining sector to extract gold and silver from mineral ores. Over 90% of the world's gold producers use sodium cyanide, which is in high demand due to the expansion of mining operations. Leading gold-producing nations like Australia, China, and Russia are big users of this substance. Due to the growing demand for the precious metal worldwide, there has been an increase in gold extraction activities in major producing nations, which is responsible for this surge in market expansion.