Africa Sodium Cyanide Market Size (2024 - 2029)

The African sodium cyanide market is anticipated to experience growth, driven primarily by the rising demand in gold mining activities. Despite the moderate impact of COVID-19 on industry expansion due to supply chain disruptions, the market is poised for development, particularly with new mining discoveries. South Africa leads the market due to its significant application in the mining sector. However, the inherent toxicity of sodium cyanide poses challenges to market growth.

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Market Size of Africa Sodium Cyanide Industry

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Africa Sodium Cyanide Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.00 %
Market Concentration High

Major Players

Africa Sodium Cyanide Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Sodium Cyanide Market Analysis

The African sodium cyanide market is expected to register at a CAGR of around 3% during the forecast period.

COVID-19 moderately impacted industry growth due to many countries' supply chain disruptions and lockdowns. However, the surging mining industry in South Africa and Ghana, among others, is likely to increase sodium cyanide consumption.

  • The primary factor driving the studied market growth is the increasing demand for gold mining activities.
  • Conversely, sodium cyanide toxicity is expected to hinder the studied market's growth.
  • The discovery of new mines is expected to offer new growth opportunities to the market studied.
  • South Africa dominated the market studied owing to its surging application in the mining industry.

Sodium Cyanide Industry Segmentation

Sodium cyanide is a colorless sodium salt whose crystals belong to the cubic crystal system. Its aqueous solutions are fundamental due to the presence of cyanide ions. The sodium cyanide market is segmented by end-user industry and geography. Based on the end-user industry, the market is segmented into mining, chemical, and other end-user industries. The report also covers the market size and forecasts in 10 countries. The market sizing and forecasts are based on volume (kilotons) for each segment.

End-user Industry
Mining
Chemical
Other End-user Industries
Geography
Ghana
Burkina Faso
Egypt
Tanzania
Zimbabwe
Mali
Democratic Republic of Congo
Sudan
Guinea
South Africa
Rest of Africa
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Africa Sodium Cyanide Market Size Summary

The sodium cyanide market in Africa is poised for steady growth, driven primarily by the burgeoning demand from the gold mining sector. This demand is particularly pronounced in countries like South Africa and Ghana, where the mining industry is a significant economic driver. Despite the challenges posed by sodium cyanide's toxicity, the market is expected to benefit from the discovery of new mines, which presents fresh opportunities for expansion. South Africa, with its rich mineral resources and established mining infrastructure, remains a dominant player in the market. The country's chemical industry, particularly through companies like Sasol, plays a crucial role in supplying sodium cyanide for gold extraction processes, further bolstering market growth.

Africa's abundant mineral wealth, including substantial reserves of gold, diamonds, and other metals, positions the continent as a key player in the global mining industry. The region, especially West Africa, has seen increased investment in gold exploration and production, attracting global mining companies. This trend is expected to drive the demand for sodium cyanide, as it is a vital component in the gold extraction process. The market is characterized by a high level of consolidation, with major players such as Sasol, Orica Limited, and TAEKWANG INDUSTRIAL CO., LTD holding significant shares. These companies are instrumental in meeting the growing demand for sodium cyanide, both locally and internationally, as they expand their production capacities to support the mining industry's needs.

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Africa Sodium Cyanide Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from the Gold Mining Activities

      2. 1.1.2 Increasing Demand for Use in Chemical and Polymer Synthesis

    2. 1.2 Restraints

      1. 1.2.1 Toxicity of Sodium Cyanide

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 End-user Industry

      1. 2.1.1 Mining

      2. 2.1.2 Chemical

      3. 2.1.3 Other End-user Industries

    2. 2.2 Geography

      1. 2.2.1 Ghana

      2. 2.2.2 Burkina Faso

      3. 2.2.3 Egypt

      4. 2.2.4 Tanzania

      5. 2.2.5 Zimbabwe

      6. 2.2.6 Mali

      7. 2.2.7 Democratic Republic of Congo

      8. 2.2.8 Sudan

      9. 2.2.9 Guinea

      10. 2.2.10 South Africa

      11. 2.2.11 Rest of Africa

Africa Sodium Cyanide Market Size FAQs

The Africa Sodium Cyanide Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Sasol, Orica Limited, TAEKWANG INDUSTRIAL CO., LTD, TSPC and Australian Gold Reagents Pty Ltd are the major companies operating in the Africa Sodium Cyanide Market.

Sodium Cyanide Market in Africa Report Snapshots

Sodium Cyanide Market in Africa Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)