The size of the global market for Hydrogen Cyanide (HCN) is expected to reach 2989.1 by 2028, expanding at a compound annual growth rate (CAGR) of 1.9%.
Factors that are driving the hydrogen cyanide market is higher demand for manufacturing potassium cyanide and sodium cyanide, used in the mining of gold and silver. Another important factor that is favoring the hydrogen cyanide market is its escalated use in production of adiponitrile that is the precursor to manufacture nylon 66. However, the factor that may hamper hydrogen cyanide market is its highly toxic nature, which makes it difficult for storage and transportation. Hydrogen cyanide is considered poisonous for human use at it binds irreversibly to, the iron atom present in the hemoglobin. As a result, oxygen does not pass easily to the cells or tissues of the body. It has properties which interfere with ATP (adenosine triphosphate), the key storage molecule in the body. The mixture of these two events, will suddenly bring the body’s metabolism to a stop, resulting in death.
Based on geography, the global hydrogen cyanide market is divided into Europe, Asia Pacific, Latin America, North America, and Middle East & Africa. North America ranks as topmost region in terms of hydrogen cyanide market due to the lower production of adiponitrile and sodium cyanide in the region. The hydrogen cyanide market is expected to pose a sluggish growth for Europe during the forecast period. However, Asia-Pacific is projected to display a steady growth because of hydrogen cyanide in the production of adiponsitrile in the region. In Asia-Pacific, the most expected dominant consumer of hydrogen cyanide in the upcoming years is China.
The Global Hydrogen Cyanide (HCN) Market, based on products, is segmented into Hydrogen Cyanide (HCN) Liquid and Hydrogen Cyanide (HCN) Gas. End-user applications holds major importance as it is main revenue generation segment. Basis on that, segmentation of Hydrogen Cyanide Market includes Acetone Cyanohydrin, Sodium Cyanide, Cyanuric Chloride, Adiponitrile, DL-Methionine and Others.
The key manufacturers of the global hydrogen cyanide market are the BP Chemicals, Ascend Performance Materials, Invista, Butachimie, Evonik, HINDUSTHAN CHEMICALS COMPANY, INEOS, Dow, DuPont, Adisseo, Cornerstone, Asahi Kasei, Cyanco, Kuraray, Kaohsuing, Secco, Sterling Chemicals, CSBP, Mitsubishi Rayon, Sumitomo Chemical, Formosa Plastics, Sinopec, CNPC and Hebei Chengxin.
Key segments of ‘Global Hydrogen Cyanide (HCN) Market’
Based on product, the market has been segmented into,
- Hydrogen Cyanide (HCN) Liquid
- Hydrogen Cyanide (HCN) Gas
Based on end-user applications, the market has been segmented into,
- Acetone Cyanohydrin
- Sodium Cyanide
- Cyanuric Chloride
Based on region, the market has been segmented into,
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)