Hydrogen Cyanide Market Scope
Hydrogen cyanide is also known as formonitrile (HCN), which is a highly volatile, colorless, and extremely poisonous liquid. Hydrogen cyanide and its compounds are used for several chemical processes, including fumigation, the case hardening of steel and iron, electroplating, and the concentration of ores. It is also employed in the preparation of acrylonitrile, which is used in the production of acrylic fibers, synthetic rubber, and plastics. It is highly toxic because it inhibits cellular oxidative processes.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | North America |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Evonik Industries (Germany), INEOS (United Kingdom), DowDuPont (United States), Adisseo (France), Air Liquide (France), Asahi Kasei (Japan), Mitsubishi Chemical (Japan), Kuraray (Japan), Sumitomo Chemical (Japan), Cornerstone Chemical (United States), Sterling Chemicals (India) and CSBP (Australia) |
CAGR | % |
The market is highly competitive owing to several key players within the industry. Some of the leading players are adopting strategies such as mergers, acquisitions, expansions, and product launches to gain a maximum share of the market. Some key players are also focusing on research & development activities to offer products as per the market necessities.The Vendors having a strong hold in the market are Evonik Industries, INEOS and Air Liquide. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Hydrogen Cyanide market throughout the predicted period.
Evonik Industries (Germany), INEOS (United Kingdom), DowDuPont (United States), Adisseo (France), Air Liquide (France), Asahi Kasei (Japan), Mitsubishi Chemical (Japan), Kuraray (Japan), Sumitomo Chemical (Japan), Cornerstone Chemical (United States), Sterling Chemicals (India) and CSBP (Australia) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Matheson Tri-Gas Inc (United States) and Ascend Performance Materials (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Hydrogen Cyanide market by Type , by Application (Acetone cyanohydrin, Adiponitrile, Sodium cyanide, DL-Methionine and Cyanuric chloride) and Region with country level break-up.
On the basis of geography, the market of Hydrogen Cyanide has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
September 2017, - DowDuPont™ announced the successful completion of the merger of equals between The Dow Chemical Company (“Dow”) and E.I. du Pont de Nemours & Company (“DuPont”). The combined entity is a holding company named “DowDuPont™” with three divisions – Agriculture, Materials Science, and Specialty Products.
Of the 1.1 million tons of hydrogen cyanide (HCN) produced annually, only 6% is converted into sodium cyanide for use in the mining industry. The remaining 94% of hydrogen cyanide is used to produce a wide variety of products, such as adhesives, computer electronics, fire retardants, and nylon, among others.
The regulatory body for Hydrogen Cyanide (HCN) may vary depending on the country or region. In the United States, for example, the Environmental Protection Agency (EPA) regulates Hydrogen Cyanide under various federal laws, including the Clean Air Act and the Toxic Substances Control Act.
Influencing Trend:
Rising Demand in Mining and Other Mineral Extraction Operations
Market Growth Drivers:
Huge Demand for the Manufacturing of Sodium Cyanide and Potassium Cyanide and Increasing Usage of Hydrogen Cyanide for the Production of Adiponitrile
Challenges:
Growing Alternatives for Hydrogen Cyanide
Restraints:
Highly Toxic Nature of Hydrogen Cyanide
Opportunities:
The Emerging Demand from Developing Countries
Key Target Audience
Hydrogen Cyanide Manufacturers, Hydrogen Cyanide Raw Material Suppliers, Hydrogen Cyanide Traders/Distributors, Hydrogen Cyanide Importer/Exporter, Regulatory & Government Bodies, End Users and Others