Hydrogen Cyanide Market |Market Analysis|Global Industry|Market Forecast to 2026
The Global Hydrogen Cyanide Market was worth USD 2726.2 million in 2018 and is forecasted to reach USD XX million by 2026, growing at a CAGR of XX% during the forecast period (2019-2026).
(EMAILWIRE.COM, October 29, 2019 ) Market Overview
• Hydrogen cyanide (HCN), in some cases called prussic acid, is a chemical compound with the chemical formula HCN. It is a colorless, extremely poisonous and flammable liquid that boils slightly above room temperature, at 25.6 °C (78.1 °F). HCN is produced on an industrial scale and is a highly valuable precursor to many chemical compounds ranging from polymers to pharmaceuticals. Hydrogen cyanide is found in the smoke of different tobacco items and is additionally discharged by burning of nitrogen-containing natural materials. Hydrogen cyanide is utilized to make sodium cyanide and potassium cyanide, utilized chiefly in gold and silver digging and for electroplating of those metals.
Market Dynamics
• Increasing demand for manufacturing of sodium cyanide and potassium cyanide and increasing applications of HCN in Adiponitrile production are the major drivers for the growth of the market. The massive demand for the production of sodium cyanide and potassium cyanide is driving the market for Hydrogen cyanide. Potassium Cyanide and Sodium Cyanide are widely used in the organic synthesis for the production of nitriles and carboxylic acids. However, these are used mainly in gold and silver mining, and also for electroplating of these materials. With the increasing investments in gold and silver, the global gold and silver production is continuously increasing. The global gold production increased from 2730 tonnes in 2012 to 3247 tonnes in 2017, and it is expected to rise with more pace during the forecast period. The increasing gold production will call for more production of sodium cyanides and potassium cyanides.
• Increasing applications of adiponitrile are another key driver for global HCN market as approximately 90% of HCN is used as a raw material for adiponitrile which is in-turn used in producing nylon 66 for fiber and plastic production. Adiponitrile is a colorless organic liquid compound used for the synthesis of hexamethylenediamine, which is used for the production of polymer nylon 6-6. Adiponitrile is used in various applications such as carpet fibers, conveyor belts, electro-insulating elements, plastic industry, automotive industry, and strings in musical instruments, tire cords, textile industry, and ropes. The growing use of Adiponitrile in plastic, fiber and textile industries is expected to fuel market demand over the forecast period. Moreover, increasing demand from the plastics and automotive sector for nylon 6-6 will be the key driver for rising demand over the projected period.
• Growing alternatives for the hydrogen cyanide and high toxicity of hydrogen cyanide are the restraints that are hindering the market growth. The high toxicity of Hydrogen Cyanide is hindering the market growth during the forecast period. Due to its high toxic nature companies are investing more on the safety parameters which leads to high production cost. There are numerous regulations pertaining to the use of hydrogen cyanide. Agencies, such as the International Cyanide Management Code has defined a particular limit on the use of hydrogen cyanide. Further, Europe is the major region which is following the strict regulations on various Cyanide products such as Hydrogen Cyanide, Sodium Cyanide, and Potassium Cyanide. The National Industrial Chemicals Notification and Assessment Scheme (NICNAS) has assessed the environmental risks of hydrogen cyanide and made recommendations for reducing the risks from its transport
Market Segmentation
• Based on the production process, the global market for hydrogen cyanide is broadly segmented as an and Russow process, BMA and others. The Global Hydrogen Cyanide Market Value, by production from Andrussow Process, was valued at $1455.8 million in 2018 and is expected to reach $XX million by 2026, with an estimated CAGR of 2.50% during the forecast period 2018 to 2026. The Andrussow Process is an industrial process for HCN production, named after its developer Leonid Andrussow, which involves the reaction of methane and ammonia in the presence of oxygen and a platinum catalyst for producing Hydrogen Cyanide. It is an exothermic process is the most widely used method for direct synthesis of Hydrogen Cyanide. The average capacity of single commercial installations is (5 – 30) × 10 t/a. The large plants are operated by DuPont, Rohm, and Haas, Novartis and Cyanco in the US; ICI, Butachemie, Röhm, and Elf-Atochem in Western Europe; and Mitsubishi Gas in Japan.
• On the basis of application, the global market for hydrogen cyanide is classified into sodium cyanide and potassium cyanide, acrylonitrile, cyanogen chloride, adiponitrile, acrylates, and methacrylates cyanide and others (cyanuric chloride, ferrocyanide). The Global Hydrogen Cyanide Market for Adiponitrile application was valued at $1368.6 million in 2018 and is expected to reach $XX million by 2026, with an estimated CAGR of 2.28% during the forecast period 2018 to 2026. Adiponitrile is estimated to be the fastest growing segment during the forecast period.
• Over the last few years, the major use of Hydrogen Cyanide has been in the production of Adiponitrile. It is used exclusively for producing Hexamethylene Diamine (HMDA), of which majority is used to make Nylon- 66 fibers and resins. In Electronics, it is used in connectors, relays, switches, housings, plugs, cables, knobs and buttons, input/output ports, face plates, insulators, transformers, terminal blocks, and coil bobbins. The Asia-Pacific region will be the fastest growing segment for electronics during the forecast period. The region witnessed a 5% growth in 2018. Therefore, it is also estimated to be the fastest growing region for Nylon 66 and Adiponitrile.
Geographical Analysis
• The global Hydrogen Cyanide Market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
• The Asia-Pacific Hydrogen Cyanide (HCN) market value was US$ 944.1 million in 2018 and is expected to reach US$ XX million by 2026 growing at a CAGR of 2.23% between 2018 to 2026. It held the highest market share in 2018. China holds the majority share of the market with 54% followed by Japan and India with 11% and 9% of the total Asia-Pacific market respectively. In China, the demand for and production of acrylonitrile are huge, so investigation of the possibilities of disposal of the wastewater generated is of great practical significance. The by-products in the process of propylene ammoxidation are mainly hydrogen cyanide, acetonitrile, acrolein, carbon dioxide, and carbon monoxide. Some of the initiatives taken by the government is propelling the growth of the market in India. For instance, the Government of India’s initiative of ‘Make in India’ is predicted to boost the demand for adiponitrile (ADN) which is leading to an increase in demand for HCN in India.
• The North America Hydrogen Cyanide market value was $835.8 million in 2018 and expected to reach USD XX million by 2026. The North America HCN market is driven by the growing production of sodium cyanide and adiponitrile in this region. In North America, the US accounted for the largest market share in 2018 due to the increasing demand for hydrogen Cyanide in the country. Some of the major producers of hydrogen cyanide in the US are Adisseo USA, Cyanco Co., Cytec Industries, Degussa Corp., Dow-DuPont, and Others. The rapid demand for hydrogen cyanide to produce sodium cyanide and potassium cyanide are spurring the market growth in Canada.
• Brazil is one of the major countries in the South American region and holds the highest market share of South America HCN market.
Company Profiles
• Some of the key market players are Asahi Kasei, Ascend Performance Materials Operations LLC, Evonik Industries, Cornerstone Chemical Company, Sinopec, Bluestar Adisseo, BP Chemicals, Sumitomo Chemical, Dow-DuPont, INEOS Group Holdings S.A. and Taekwang Industrial Co., Ltd.
• Companies are expanding their production capacities to meet increasing demand from consumers. Manufacturers are adopting by-product management and re-utilization strategies in their production lines in order to increase their revenues.
• On August 01, 2018, Ascend Performance Materials, the largest fully integrated producer of nylon 6,6 resin, has purchased Britannia Techno Polymer.
• In December 2017, Cornerstone Chemical Company, a leading manufacturer of key intermediate and specialty chemicals announced it has licensed from The Chemours Company a world-scale HCN production technology package to significantly increase its on-site HCN production.
• In March 2017, SABIC and Sinopec signed a strategic cooperation agreement to study opportunities for joint petrochemical projects in Saudi Arabia and China.
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About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
• Hydrogen cyanide (HCN), in some cases called prussic acid, is a chemical compound with the chemical formula HCN. It is a colorless, extremely poisonous and flammable liquid that boils slightly above room temperature, at 25.6 °C (78.1 °F). HCN is produced on an industrial scale and is a highly valuable precursor to many chemical compounds ranging from polymers to pharmaceuticals. Hydrogen cyanide is found in the smoke of different tobacco items and is additionally discharged by burning of nitrogen-containing natural materials. Hydrogen cyanide is utilized to make sodium cyanide and potassium cyanide, utilized chiefly in gold and silver digging and for electroplating of those metals.
Market Dynamics
• Increasing demand for manufacturing of sodium cyanide and potassium cyanide and increasing applications of HCN in Adiponitrile production are the major drivers for the growth of the market. The massive demand for the production of sodium cyanide and potassium cyanide is driving the market for Hydrogen cyanide. Potassium Cyanide and Sodium Cyanide are widely used in the organic synthesis for the production of nitriles and carboxylic acids. However, these are used mainly in gold and silver mining, and also for electroplating of these materials. With the increasing investments in gold and silver, the global gold and silver production is continuously increasing. The global gold production increased from 2730 tonnes in 2012 to 3247 tonnes in 2017, and it is expected to rise with more pace during the forecast period. The increasing gold production will call for more production of sodium cyanides and potassium cyanides.
• Increasing applications of adiponitrile are another key driver for global HCN market as approximately 90% of HCN is used as a raw material for adiponitrile which is in-turn used in producing nylon 66 for fiber and plastic production. Adiponitrile is a colorless organic liquid compound used for the synthesis of hexamethylenediamine, which is used for the production of polymer nylon 6-6. Adiponitrile is used in various applications such as carpet fibers, conveyor belts, electro-insulating elements, plastic industry, automotive industry, and strings in musical instruments, tire cords, textile industry, and ropes. The growing use of Adiponitrile in plastic, fiber and textile industries is expected to fuel market demand over the forecast period. Moreover, increasing demand from the plastics and automotive sector for nylon 6-6 will be the key driver for rising demand over the projected period.
• Growing alternatives for the hydrogen cyanide and high toxicity of hydrogen cyanide are the restraints that are hindering the market growth. The high toxicity of Hydrogen Cyanide is hindering the market growth during the forecast period. Due to its high toxic nature companies are investing more on the safety parameters which leads to high production cost. There are numerous regulations pertaining to the use of hydrogen cyanide. Agencies, such as the International Cyanide Management Code has defined a particular limit on the use of hydrogen cyanide. Further, Europe is the major region which is following the strict regulations on various Cyanide products such as Hydrogen Cyanide, Sodium Cyanide, and Potassium Cyanide. The National Industrial Chemicals Notification and Assessment Scheme (NICNAS) has assessed the environmental risks of hydrogen cyanide and made recommendations for reducing the risks from its transport
Market Segmentation
• Based on the production process, the global market for hydrogen cyanide is broadly segmented as an and Russow process, BMA and others. The Global Hydrogen Cyanide Market Value, by production from Andrussow Process, was valued at $1455.8 million in 2018 and is expected to reach $XX million by 2026, with an estimated CAGR of 2.50% during the forecast period 2018 to 2026. The Andrussow Process is an industrial process for HCN production, named after its developer Leonid Andrussow, which involves the reaction of methane and ammonia in the presence of oxygen and a platinum catalyst for producing Hydrogen Cyanide. It is an exothermic process is the most widely used method for direct synthesis of Hydrogen Cyanide. The average capacity of single commercial installations is (5 – 30) × 10 t/a. The large plants are operated by DuPont, Rohm, and Haas, Novartis and Cyanco in the US; ICI, Butachemie, Röhm, and Elf-Atochem in Western Europe; and Mitsubishi Gas in Japan.
• On the basis of application, the global market for hydrogen cyanide is classified into sodium cyanide and potassium cyanide, acrylonitrile, cyanogen chloride, adiponitrile, acrylates, and methacrylates cyanide and others (cyanuric chloride, ferrocyanide). The Global Hydrogen Cyanide Market for Adiponitrile application was valued at $1368.6 million in 2018 and is expected to reach $XX million by 2026, with an estimated CAGR of 2.28% during the forecast period 2018 to 2026. Adiponitrile is estimated to be the fastest growing segment during the forecast period.
• Over the last few years, the major use of Hydrogen Cyanide has been in the production of Adiponitrile. It is used exclusively for producing Hexamethylene Diamine (HMDA), of which majority is used to make Nylon- 66 fibers and resins. In Electronics, it is used in connectors, relays, switches, housings, plugs, cables, knobs and buttons, input/output ports, face plates, insulators, transformers, terminal blocks, and coil bobbins. The Asia-Pacific region will be the fastest growing segment for electronics during the forecast period. The region witnessed a 5% growth in 2018. Therefore, it is also estimated to be the fastest growing region for Nylon 66 and Adiponitrile.
Geographical Analysis
• The global Hydrogen Cyanide Market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
• The Asia-Pacific Hydrogen Cyanide (HCN) market value was US$ 944.1 million in 2018 and is expected to reach US$ XX million by 2026 growing at a CAGR of 2.23% between 2018 to 2026. It held the highest market share in 2018. China holds the majority share of the market with 54% followed by Japan and India with 11% and 9% of the total Asia-Pacific market respectively. In China, the demand for and production of acrylonitrile are huge, so investigation of the possibilities of disposal of the wastewater generated is of great practical significance. The by-products in the process of propylene ammoxidation are mainly hydrogen cyanide, acetonitrile, acrolein, carbon dioxide, and carbon monoxide. Some of the initiatives taken by the government is propelling the growth of the market in India. For instance, the Government of India’s initiative of ‘Make in India’ is predicted to boost the demand for adiponitrile (ADN) which is leading to an increase in demand for HCN in India.
• The North America Hydrogen Cyanide market value was $835.8 million in 2018 and expected to reach USD XX million by 2026. The North America HCN market is driven by the growing production of sodium cyanide and adiponitrile in this region. In North America, the US accounted for the largest market share in 2018 due to the increasing demand for hydrogen Cyanide in the country. Some of the major producers of hydrogen cyanide in the US are Adisseo USA, Cyanco Co., Cytec Industries, Degussa Corp., Dow-DuPont, and Others. The rapid demand for hydrogen cyanide to produce sodium cyanide and potassium cyanide are spurring the market growth in Canada.
• Brazil is one of the major countries in the South American region and holds the highest market share of South America HCN market.
Company Profiles
• Some of the key market players are Asahi Kasei, Ascend Performance Materials Operations LLC, Evonik Industries, Cornerstone Chemical Company, Sinopec, Bluestar Adisseo, BP Chemicals, Sumitomo Chemical, Dow-DuPont, INEOS Group Holdings S.A. and Taekwang Industrial Co., Ltd.
• Companies are expanding their production capacities to meet increasing demand from consumers. Manufacturers are adopting by-product management and re-utilization strategies in their production lines in order to increase their revenues.
• On August 01, 2018, Ascend Performance Materials, the largest fully integrated producer of nylon 6,6 resin, has purchased Britannia Techno Polymer.
• In December 2017, Cornerstone Chemical Company, a leading manufacturer of key intermediate and specialty chemicals announced it has licensed from The Chemours Company a world-scale HCN production technology package to significantly increase its on-site HCN production.
• In March 2017, SABIC and Sinopec signed a strategic cooperation agreement to study opportunities for joint petrochemical projects in Saudi Arabia and China.
Enquire Before purchase: https://www.datamintelligence.com/enquiry/hydrogen-cyanide-market
Download free sample: https://www.datamintelligence.com/download-sample/hydrogen-cyanide-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results