Sodium cyanide Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking Report 2020 – 2027

Procurement Outlook

Sodium cyanide is a highly toxic salt that commonly appears as a white solid and is redolent of almonds. It is soluble in water, ammonia, methanol, and ethanol. Sodium cyanide can be segmented into two types based on forms; solid sodium cyanide and liquid sodium cyanide.

 

Following are the major applications of sodium cyanide:

Mining: Sodium cyanide is extensively used in the mining industry. The main use of sodium cyanide in mining is the extraction of gold and other precious metals. Gold is highly reactive to cyanide, therefore, it is explicitly used in gold mining.


Chemical feedstock- Sodium cyanide helps in producing several commercially significant chemical compounds such as cyanogen chloride, many types of nitriles, and cyanuric chloride. Nitriles are present in many chemicals, and it has vast usage in the pharmaceutical industry. Furthermore, sodium cyanide is used as an agricultural chemical and pesticide. It can also be used to produce hydrocyanic acid.

 

Demand Outlook

The global sodium cyanide market was valued at ~1 million tons in 2020 and it is expected to grow at a CAGR of 6% from 2020 to 2027 owing to increasing demand from the mining industry. The mining industry is the largest end-user segment of the global sodium cyanide market with more than 70% market share in 2020. APAC countries like China, South Korea, and Australia are the largest producers of sodium cyanide accounted for more than 50% share in the global sodium cyanide industry, followed by the U.S. and Germany. Liquid sodium cyanide has higher demand than solid sodium cyanide. Liquid sodium cyanide accounted for more than 60% of the global sodium cyanide demand.

 

Cost Drivers

Industrial sodium cyanide is produced from metallic sodium, charcoal, and ammonia. In this process, molten sodium, ammonia, and charcoal react to form Sodium Cyanide. The procurement cost of these chemicals plays a very crucial role in determining the sodium cyanide production cost. The cost of raw materials accounted for more than 50% of the overall cost of production followed by machinery, equipment, and labor costs. As the price of raw material is highly volatile, sodium cyanide manufacturers outsource their production to low-cost countries like China to maintain the profit margins.

 

Read report summary:  https://www.grandviewresearch.com/pipeline/sodium-cyanide-industry-procurement-intelligence-report

 

Add-on Services

 

  • Should Cost Analysis Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

  • Rate Benchmarking Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

  • Salary Benchmarking Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

  • Supplier Newsletter A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

 

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A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.


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  • Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption


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