Market Size of Hydrogen Cyanide Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR (2024 - 2029) | 1.50 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Hydrogen Cyanide Market Analysis
The Hydrogen Cyanide Market size is estimated at 2.39 Million tons in 2024, and is expected to reach 2.62 Million tons by 2029, growing at a CAGR of greater than 1.5% during the forecast period (2024-2029).
The majority of the hydrogen cyanide manufactured is used as a raw material for adiponitrile production, which is used in producing nylon 66 for fiber and plastic production. Adiponitrile (AND) is used to make hexamethylene diamine (HMDA), the majority of which (approximately 92%) is used to make nylon 6,6 fibers and resins.
Over the medium term, the major factors driving market growth were the high demand for sodium and potassium cyanide and the increasing use of hydrogen cyanide in producing adiponitrile.
On the flip side, the highly toxic nature of hydrogen cyanide hampers the market's growth studied.
Its use in the production of chelating agents in untapped markets is likely to present opportunities in the future.
North America is expected to dominate the global hydrogen cyanide market, while the Asia-Pacific region is expected to be the fastest-growing market during the forecast period.
Hydrogen Cyanide Industry Segmentation
Hydrogen cyanide is a colorless, extremely poisonous, and flammable liquid that boils slightly above room temperature.
The hydrogen cyanide market is segmented by structure type, application, and geography. By structure type, the market is segmented into hydrogen cyanide liquid and hydrogen cyanide gas. By application, the market is segmented into sodium cyanide and potassium cyanide, adiponitrile, acetone cyanohydrin, and other applications. The report offers market size and forecasts for 22 countries across major regions.
For each segment, market sizing and forecasts have been done on the basis of volume (tons). Hydrogen cyanide is a colorless, extremely poisonous, and flammable liquid that boils slightly above room temperature.
The hydrogen cyanide market is segmented by structure type, application, and geography. By structure type, the market is segmented into hydrogen cyanide liquid and hydrogen cyanide gas. By application, the market is segmented into sodium cyanide and potassium cyanide, adiponitrile, acetone cyanohydrin, and other applications. The report offers market size and forecasts for 22 countries across major regions.
For each segment, market sizing and forecasts have been done on the basis of volume (tons).
Structure Type | |
Hydrogen Cyanide Liquid | |
Hydrogen Cyanide Gas |
Application | |
Sodium Cyanide and Potassium Cyanide | |
Adiponitrile | |
Acetone Cyanohydrin | |
Other Applications |
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Hydrogen Cyanide Market Size Summary
The hydrogen cyanide market is poised for moderate growth over the forecast period, driven primarily by its critical role as a precursor in the production of adiponitrile, which is essential for manufacturing nylon 66. This demand is further bolstered by the high consumption of sodium and potassium cyanide in various industrial applications, including electroplating and metal mining. Despite its toxic nature posing challenges to market expansion, the potential for hydrogen cyanide's use in producing chelating agents presents new opportunities. North America is anticipated to lead the market, with the Asia-Pacific region emerging as the fastest-growing area, reflecting a dynamic shift in global demand patterns.
The market landscape is characterized by a partial consolidation, with key players such as INVISTA, Evonik Industries, and INEOS dominating the scene. The United States stands out as a significant exporter, with its hydrogen cyanide demand driven by its extensive mining activities and agricultural sector. The plastic industry's reliance on acetone cyanohydrin further fuels market consumption. Meanwhile, geopolitical and economic factors, including the aftermath of Russia's invasion of Ukraine, have impacted global supply chains, influencing market dynamics. As the industry navigates these challenges, the overall outlook remains positive, with anticipated growth in both established and emerging markets.
Hydrogen Cyanide Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Favorable Demand for Manufacturing of Sodium Cyanide and Potassium Cyanide
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1.1.2 Increasing Usage of Hydrogen Cyanide for the Production of Adiponitrile
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1.2 Restraints
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1.2.1 Highly Toxic Nature of Hydrogen Cyanide
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Structure Type
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2.1.1 Hydrogen Cyanide Liquid
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2.1.2 Hydrogen Cyanide Gas
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2.2 Application
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2.2.1 Sodium Cyanide and Potassium Cyanide
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2.2.2 Adiponitrile
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2.2.3 Acetone Cyanohydrin
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2.2.4 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Indonesia
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2.3.1.6 Malaysia
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2.3.1.7 Thailand
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2.3.1.8 Vietnam
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2.3.1.9 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Spain
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2.3.3.6 Russia
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2.3.3.7 Turkey
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2.3.3.8 NORDIC Countries
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2.3.3.9 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Hydrogen Cyanide Market Size FAQs
How big is the Hydrogen Cyanide Market?
The Hydrogen Cyanide Market size is expected to reach 2.39 million tons in 2024 and grow at a CAGR of greater than 1.5% to reach 2.62 million tons by 2029.
What is the current Hydrogen Cyanide Market size?
In 2024, the Hydrogen Cyanide Market size is expected to reach 2.39 million tons.