Market Research

Hydrogen Cyanide Market to Reach $4.0 Billion by 2025 Growing at a CAGR of 1.67% During 2020-2025

Jul 24, 2020 2:00 PM ET

iCrowd Newswire – Jul 24, 2020

Hydrogen Cyanide Market is forecast to reach $4.0 billion by 2025, after growing at a CAGR of 1.67% during 2020-2025. Hydrogen cyanide, also called prussic acid, is a chemical compound having the formula, HCN. Hydrogen cyanide is available in the form of toxic liquid or colorless gas, which is highly poisonous. Although it is poisonous, HCN is used in several industrial processes and is a highly valuable precursor to various chemical compounds, ranging from polymers to pharmaceuticals.

By Production Process – Segment Analysis
By production process, the global market for hydrogen cyanide is broadly segmented as an and Andrussow process, BMA and others, where Andrussow process are widely used to produce hydrogen cyanide. 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.

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By Application – Segment Analysis
From 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. Acetone cyanohydrin is used primarily to produce Methyl Methacrylate (MMA), which is in turn used for coatings and sealants and for poly-methyl-methacrylate production. MMA can also be produced from ethylene. Lucite International has developed Alpha Technology, a new, patented technology that uses ethylene, methanol and carbon monoxide.

Geography – Segment Analysis
APAC region holds the major share in hydrogen cyanide market. 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.

Drivers – Hydrogen Cyanide Market

Growing demand in manufacturing sodium cyanide and potassium cyanide
The major driver of the hydrogen cyanide market is the demand for manufacturing of sodium cyanide and potassium cyanide, used in the mining of silver and gold. The growing application of gold. About 10 % of the extracted gold is used in the production of electronic goods and technical equipment. Its high resistance to corrosion, excellent conductivity and easy processing makes gold a very valuable material, especially when it is necessary to guarantee individual components for permanent and a highly resistant functionality despite environmental influences. For this reason, gold plays an especially important role in the manufacture of satellites.

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Challenges – Hydrogen Cyanide Market

The high toxicity of hydrogen cyanide is the major factor that constraints the market growth
The major factor that restrain the market growth if its high toxic nature of the compound, which makes it difficult for transportation and storage. Owning to this, various manufacturers faces problem in order to import hydrogen cyanide, and even it is much expensive in transportation cost. Due to this, the manufacturers does not use this compound directly to manufacture the products.

Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Hydrogen Cyanide market. Hydrogen Cyanide Market top 10 companies are 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., among others.

Acquisitions/Technology Launches:
On August 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.

Key Takeaways
Hydrogen Cyanide also found in the smoke of various tobacco products and is also released by combustion of nitrogen-containing organic materials.

Also, hydrogen cyanide is obtainable from fruits that have a pit, such as cherries, apricots, apples, and bitter almonds, from which almond oil and flavoring are made.

Hydrogen cyanide is extremely toxic in nature and hence, most of it is consumed at the production site. Thus, there is no trade or transport for hydrogen cyanide.

Related Reports:

A. Merchant Hydrogen Market

https://www.industryarc.com/Report/19098/merchant-hydrogen-market

B. Sodium Cyanide Market

https://www.industryarc.com/Report/19146/sodium-cyanide-market

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