Hydrogen Cyanide Market projected to surpass US$ 2,457.5 million by 2028 at a significant CAGR of 4.13%

The hydrogen cyanide market was evaluated at US$1,850.700 million in 2021 and will grow at a CAGR of 4.13% to be worth US$2,457.550 million by 2028.

NOIDA, UTTAR PRADESH, INDIA, October 5, 2023 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the hydrogen cyanide market is projected to grow at a CAGR of 4.13% between 2021 and 2028 to reach US$2,457.550 million by 2028.

The prime factors propelling the hydrogen cyanide market growth are Increasing demand for hydrogen cyanide in mining and metal processing, growing use of hydrogen cyanide in the production of plastics and other chemicals, and increasing demand for hydrogen cyanide in the pharmaceutical industry.

The hydrogen cyanide market is the global market for hydrogen cyanide, which is a highly volatile, colorless, and extremely poisonous liquid that is used for many chemical processes, including fumigation, the case solidifying of iron and steel, electroplating, and the centralization of metals. The market is segmented by the production process, including the Andrussow process, BMA, and others, and by application, including acrylonitrile, cyanogen chloride, and others. The major players in the market include INEOS, Air Liquide, Evonik Industries AG, MATHESON TRI-GAS, INC., and others. The market is highly regulated due to the toxicity of hydrogen cyanide, and the production and use of hydrogen cyanide are subject to strict safety regulations. The market is expected to accrue strong growth in the forecast frame, driven by type, application, and geography.

The market is witnessing multiple collaborations and technological advancements, for instance in February 2022, a few polyamides (Dad) and polyphthalamide (PPA) grades that BASF obtained as a feature of the securing of Solvay's PA66 business in Europe went at a bargain. These specialized polymers are provided under the notable business trademark Ultramid, having previously been sold by BASF under the brand Technyl^®.

Access sample report or view details: https://www.knowledge-sourcing.com/report/hydrogen-cyanide-market

Based on type, the global hydrogen cyanide market is divided into Hydrogen Cyanide (HCN) Liquid and Hydrogen Cyanide (HCN) Gas. hydrogen cyanide (HCN) liquid is probably going to be the most noticeable fragment in the market during the estimated time frame. Hydrogen cyanide liquid is used in the production of a variety of plastics and other chemicals, such as ABS plastics, acrylic plastics, polycarbonate plastics, herbicides, pesticides, and pharmaceuticals. The growing demand for plastics and other chemicals is driving the demand for hydrogen cyanide liquid in these industries.

Based on the production process, the global hydrogen cyanide market is divided into the Andrussow Process, BMA, and Others. The Andrussow process segment is experiencing substantial growth as it is a relatively simple and efficient process, and it produces a high-purity hydrogen cyanide product. The Andrussow Process is also relatively environmentally friendly, as it produces minimal waste. The government supports the development of new Andrussow Process technologies that are more efficient and environmentally friendly.

Based on application, the global hydrogen cyanide market is divided into Acrylonitrile, Cyanogen Chloride, Acrylates, Methacrylates Cyanide, and Others. The Acrylonitrile segment is experiencing substantial growth. Acrylonitrile is used in the production of a variety of plastics, including ABS plastics, acrylic plastics, and polycarbonate plastics. The growing demand for plastics is driving the demand for acrylonitrile, which in turn is driving the demand for hydrogen cyanide.

Geographically, North America accounts for a significant share of the global hydrogen cyanide market owing to a well-established chemical industry, which is a major consumer of hydrogen cyanide. Governments in North America are supporting the development of new hydrogen cyanide production technologies that are more efficient and environmentally friendly.

As a part of the report, the major players operating in the hydrogen cyanide market that have been covered include Evonik Industries AG, INEOS Group Ltd, Air Liquide S.A., Matheson Tri-Gas Inc., Ascend Performance Materials Operations LLC, Hindusthan Chemicals Company, The Dow Chemical Company, Taekwang Industry Co Ltd., Bluestar Adisseo, Sigma Aldrich, and Kuraray Co. Ltd. among other significant market players.

The market analytics report segments the hydrogen cyanide market as below:

• BY TYPE

o Hydrogen Cyanide (HCN) Liquid
o Hydrogen Cyanide (HCN) Gas

• BY PRODUCTION PROCESS

o Andrussow Process
o BMA
o Others

• BY APPLICATION

o Acrylonitrile
o Cyanogen Chloride
o Acrylates and Methacrylates Cyanide
o Others

• BY GEOGRAPHY

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• United Kingdom
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Profiled:

• Evonik Industries AG
• INEOS Group Ltd.
• Air Liquide S.A.
• Matheson Tri-Gas Inc.
• Ascend Performance Materials Operations LLC
• Hindusthan Chemicals Company
• The Dow Chemical Company
• Taekwang Industry Co Ltd.
• Bluestar Adisseo
• Sigma Aldrich
• Kuraray Co. Ltd.

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Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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