DUBLIN--(BUSINESS WIRE)--The "Global Hydrogen Cyanide Market - Segmented by Structure, Application, and Geography - Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global hydrogen cyanide market is estimated to witness a CAGR of 1.25% during the forecast period, 2018-2023. Adiponitrile production is anticipated to be the largest consumer of hydrogen cyanide, which is used to produce nylon 66. North America leads the market with higher share.
Increasing Demand for Nylon 66 Fibers Driving the Market
Hydrogen Cyanide is mostly used to make adiponitrile (used to produce Nylon 66) and other chemicals. The world demand of hydrogen cyanide is closely tied to the consumption of nylon 66 through adiponitrile. Nylon is being used as a replacement for several applications including automotive, textile, and electronics components. Due to its low weight and high mechanical properties, it is being accepted in several industries. This growing demand for Nylon 66 is driving the hydrogen cyanide market indirectly.
Adiponitrile Application to Own the Large Share of the Market
A considerable part of the hydrogen cyanide produced is used in adiponitrile application as a precursor for polyamide production. The main regions producing adiponitrile are United States, and Western Europe. The second main application for hydrogen cyanide after adiponitrile is acetone cyanohydrin. Since, hydrogen cyanide is a toxic compound, most of the produced hydrogen cyanide is consumed or used at the place of production.
Notable Developments in the Market
- February 2017: CyPlus Idesa opened a sodium cyanide production plant in Mexico. CyPlus Idesa is a joint venture between German Evonik and Mexican Group IDESA. The new sodium cyanide plant has a capacity of 40,000 metric tons, and uses state-of-the-art hydrogen cyanide and cyanide technologies.
- Asahi Kasei
- BP Chemicals
- Evonik Industries
- Formosa Plastics
- Sterling Chemicals
- Sumitomo Chemical
Key Topics Covered
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis
7. Future of the Market
8. Competitive Landscape
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/hl45vw/global_hydrogen?w=4