Market Size of Gold Potassium Cyanide Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Gold Potassium Cyanide Market Analysis
During the time frame of the forecast, the gold potassium cyanide market is expected to register a CAGR of over 3%.
The gold potassium cyanide market was negatively impacted by the COVID-19 pandemic. Due to nationwide lockdowns, strict social distancing measures, disruptions in the supply chain, and worldwide shutdowns of factories and industries, the electronics market suffered, which in turn affected the growth of the gold potassium cyanide (KCN) market. Manufacturers operating in countries under lockdown were forced to shut down entire production facilities, while the global impact on employment, income, and general consumption negatively impacted demand for consumer electronics, which in turn negatively affected the growth of the gold potassium cyanide market.
- Over the next five to ten years, the growth of the gold potassium cyanide market will be affected by how much gold is used for electroplating and how much demand there is for electronic equipment and other technological products.
- On the flip side, the fact that GPC is a highly toxic substance as well as the fluctuation in its price are major challenges expected to hinder the market growth of gold potassium cyanide during the forecast period. Also, the COVID-19 pandemic was likely to cut short-term demand for GPC because it would cause a sharp drop in commercial production in many end-user industries.
- Significant investment in R&D activities will create new opportunities in the market.
- Asia-Pacific is expected to have the largest share of the global market. This is because countries like China, Japan, and South Korea are making more progress in their electronic industries, and India and China are increasing their demand for precious metals like gold, which makes up a big part of the global demand for gold.
Gold Potassium Cyanide Industry Segmentation
Gold potassium cyanide is a gold extraction formula with a weight ratio of approximately 68.2 percent. It is represented by the formula KCN. Because of its formula, KCN, gold potassium cyanide is commonly used in plating electronic equipment. Gold-potassium cyanide is used in the manufacturing process of electronic equipment, jewelry, and other products. Gold potassium cyanide is a very important gold source in electrolytic gold plating and is also known as GPC or PGC. Industrial gold potassium cyanide preparation necessitates a high rate of dissolution as well as a smooth dissolution. The gold potassium cyanide market is segmented by type, application, and geography. By type, the market is segmented into low purity and high purity. By application, the market is segmented into the electroplating of metals, decorative costume jewelry, electronic devices, watches, and other applications. The report also includes market size and forecasts for the gold potassium cyanide market in 15 major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).
| Type | |
| Low Purity | |
| High Purity |
| Applications | |
| Electroplating of Metals | |
| Decorative Costume Jewellery | |
| Electronic Devices | |
| Watches | |
| Other Applications |
| Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Gold Potassium Cyanide Market Size Summary
The gold potassium cyanide market is poised for moderate growth over the forecast period, despite the challenges posed by the COVID-19 pandemic, which significantly disrupted supply chains and reduced demand in the electronics sector. The market's expansion is closely tied to the demand for gold in electroplating and electronic equipment, with Asia-Pacific expected to dominate due to its advanced electronics industries in countries like China, Japan, and South Korea. The region's increasing consumption of precious metals, driven by rising demand for luxury goods and advanced technology, is anticipated to bolster the market. However, the market faces hurdles such as the toxicity of gold potassium cyanide and price fluctuations, which could impede growth.
Gold potassium cyanide is a crucial component in the electroplating and electronics industries, valued for its properties that enhance conductivity and resistance to corrosion. Its applications range from jewelry and decorative items to critical components in microelectronics and electronic devices. The market's trajectory will be influenced by ongoing investments in research and development, which are expected to open new avenues for growth. The aerospace, metal plating, and electronic sectors, particularly in the Asia-Pacific region, are projected to drive demand. The market remains fragmented, with key players like Alfa Aesar and Thermo Fisher Scientific leading the charge, while strategic agreements and product launches continue to shape the competitive landscape.
Gold Potassium Cyanide Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Drivers
-
1.1.1 Increasing Applications for Electroplating of Gold
-
1.1.2 Growing Demand from the Electronics Industry
-
-
1.2 Restraints
-
1.2.1 High Toxic Nature and Impact of COVID-19 Pandemic
-
1.2.2 Other Restraints
-
-
1.3 Industry Value Chain Analysis
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Buyers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products and Services
-
1.4.5 Degree of Competition
-
-
-
2. MARKET SEGMENTATION (Market Size in Value)
-
2.1 Type
-
2.1.1 Low Purity
-
2.1.2 High Purity
-
-
2.2 Applications
-
2.2.1 Electroplating of Metals
-
2.2.2 Decorative Costume Jewellery
-
2.2.3 Electronic Devices
-
2.2.4 Watches
-
2.2.5 Other Applications
-
-
2.3 Geography
-
2.3.1 Asia-Pacific
-
2.3.1.1 China
-
2.3.1.2 India
-
2.3.1.3 Japan
-
2.3.1.4 South Korea
-
2.3.1.5 Rest of Asia-Pacific
-
-
2.3.2 North America
-
2.3.2.1 United States
-
2.3.2.2 Canada
-
2.3.2.3 Mexico
-
-
2.3.3 Europe
-
2.3.3.1 Germany
-
2.3.3.2 United Kingdom
-
2.3.3.3 France
-
2.3.3.4 Italy
-
2.3.3.5 Rest of Europe
-
-
2.3.4 South America
-
2.3.4.1 Brazil
-
2.3.4.2 Argentina
-
2.3.4.3 Rest of South America
-
-
2.3.5 Middle-East and Africa
-
2.3.5.1 Saudi Arabia
-
2.3.5.2 South Africa
-
2.3.5.3 Rest of Middle-East and Africa
-
-
-
Gold Potassium Cyanide Market Size FAQs
What is the current Gold Potassium Cyanide Market size?
The Gold Potassium Cyanide Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Gold Potassium Cyanide Market?
Alfa Aesar, Thermo Fisher Scientific, Spectrum Chemical Manufacturing Corp, Bangalore Refinery, METALOR Technologies SA and LEGOR GROUP S.p.A. are the major companies operating in the Gold Potassium Cyanide Market.
