Sodium Cyanide Procurement Intelligence 2030 : Sodium Cyanide Category Is Estimated To Expand Further At A CAGR Of 6.15%

Sodium Cyanide Procurement Intelligence

The global sodium cyanide category is anticipated to grow at a CAGR of 6.15% from 2023 to 2030.

It is driven by growing demand for precious metals such as silver and gold, growth in the need for chemical intermediaries by the agriculture and pharmaceutical sectors, and expansion of various end-user sectors due to rising consumer demand and rapid industrialization. In addition, sodium cyanide is widely utilized in the electroplating, a crucial process in electronics and automobile industries. Rising living standards and increasing consumer spending have increased demand for consumer durables and cars, which has led to a rise in electroplating applications and, in turn, increased market demand for the product. However, the detrimental impact of the product on environment and human health due to its toxicity is expected to hinder the growth of the global category during the projected timeframe. Sodium cyanide prevents oxygen from reaching tissues, resulting in tissue hypoxia due to its binding to the ferric iron of oxidized cytochrome oxidase.

Order your copy of the Sodium Cyanide category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Sodium Cyanide Procurement Intelligence Report Scope

The Sodium Cyanide category is expected to have pricing growth outlook of 5% - 10% increase (Annually) from 2023 to 2030, with below pricing models.

• Cost-plus pricing
• Competition-based pricing

Supplier Selection Scope of Report

• Cost and pricing
• Past engagements
• Productivity
• Geographical presence

Supplier selection criteria of Report

• Industries served
• years in service
• revenue generated
• employee strength
• geographic service provision
• form of sodium cyanide
• type of packaging
• risk management
• regulatory compliance
• lead time
• others

Sodium Cyanide Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

• Market Intelligence along with emerging technology and regulatory landscape
• Market estimates and forecasts from 2022 to 2030
• Growth opportunities, trends, and driver analysis
• Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
• Porter’s 5 forces
• Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
• Engagement and operating models, KPI, and SLA elements
• LCC/BCC analysis and negotiation strategies
• Peer benchmarking and product analysis
• Market report in PDF, Excel, and PPT and online dashboard versions 

Sodium Cyanide Procurement Cost and Supplier Intelligence

Raw materials (caustic soda, ammonia, hydrogen cyanide, etc.), labor, energy, equipment & machinery, and packaging & transportation constitute the key cost components in this category. One major factor influencing the price of sodium cyanide is the cost of the raw materials used in its manufacturing. The cost of production can be directly impacted by the changes in the prices of raw materials, particularly hydrogen cyanide. In addition, pricing is heavily influenced by supply and demand dynamics, just like with any other commodity. Prices are likely to rise in situations where there is a limited supply and a high demand for it. Conversely, low prices may result from an oversupply situation. Furthermore, the production process of sodium cyanide is energy intensive. Manufacturers vary their prices in response to changes in energy costs to account for higher or lower backend costs, which ultimately affects the final consumer. In the US, the price of sodium cyanide ranges between USD 165 per kg – 175 per kg.

Asia-Pacific region dominates the global sodium cyanide category, holding substantial share of revenue. The mining sector (where sodium cyanide is used for extraction of precious metals) in the region is anticipated to begin a new phase of expansion in the coming years with rising capital expenditure for projects. Gradually, the sector is emerging from its downturn as the global economy begins to revive. Given the substantial contribution of the mining sector to the GDP of economies in the region, governments are concentrating on implementing reforms, policies, and regimes that would facilitate its expansion. Reviewing the proximity of supplier’s warehouse to the location of delivery, assessing if a supplier is a signatory to international cyanide management code, evaluating if the supplier offers the product in the required form (liquid / dry), and comparing the pricing of the product by different suppliers in the industry are some of the best sourcing practices considered in this category.

List of Key Suppliers

• Anhui Anqing Shuguang Chemical Group Co., Ltd.
• Australian Gold Reagents Pty Ltd
• Cyanco International
• LLC
• CyPlus GmbH
• Draslovka Holding
• Hebei Chengxin Co., Ltd.
• Korund Ltd.
• Nippon Soda Co., Ltd.
• Orica Limited
• Taekwang Industrial Co., Ltd.
• The Chemours Company LLC
• Tongsuh Petrochemical Corporation Ltd.

Add-on Services provided by Grand View Research Pipeline: 

• 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. 

Browse through Grand View Research’s collection of procurement intelligence studies: 

Shrink Films Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

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Cyber Security Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape) 

Brief about Pipeline by Grand View Research:

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 supply chain, which helps in efficient procurement decisions. 

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• 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 disruptions