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CHEMICALS AND ADVANCED MATERIALS

Silver Cyanide Market Analysis by Purity (High Purity, and Low Purity); by Form (Solid, and Powder); and by Application (Electronic Components, Silver Plating, Metal Surface Treatment, Chemicals & Salts, and Research) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Thermo Fisher Scientific enters into a partnership with biotech incubator LabShares Newton to provide support to the biotech ecosystem in Boston. Through the collaboration, the partners will provide instruments, lab equipment, and consumables to help early-stage life sciences companies.
  • DuPont and Dow inaugurated new DuPont Liveo Healthcare Solutions. This new facility is expected to expand capacity for biopharmaceutical tubing extrusion to meet increased demand from Liveo customers.

Global Silver Cyanide Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Silver-Cyanide-Market-Scope

The global silver cyanide market is estimated to garner a notable revenue by the end of 2031 by growing at a robust CAGR over the forecast period, i.e., 2022 – 2031. Further, the market generated a noteworthy revenue in the year 2021. Growth of the market is primarily driven by the rapid adoption of silver cyanide for applications such as silver plating and metal surface treatment in the electronics sector. Thus, the bloom in electronics industry is anticipated to fuel the silver cyanide market in the forecast period. As, per recent estimates, in 2020, the global consumer electronics manufacturing industry was calculated to be USD 1.6 trillion. Further, the industry is projected with a growth rate of 3% in the period of 2017 – 2022.

Silver-Cyanide-Market-Size

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Whitish in appearance, silver cyanide is a chemical compound acquired from the chemical reaction between solutions containing silver and cyanide. Silver cyanide is highly reactive in nature and decomposes on exposure to light and is mostly used for silver plating of metals across manufacturing industries. Due to the advantages like improved solderability, durability, conductivity, and corrosion and wear resistance of products, silver cyanide is being increasingly used for silver plating in the electronics sector. Due to the high involvement of the population, the electronic industry is expected to boom, which is further projected to increase the demand for silver cyanide. In 2020, it was estimated that approximately 1.4 million jobs are there in the U.S. electronic manufacturing sector.

Global Silver Cyanide Market: Growth Drivers and Challenges

Growth Drivers

  • Rise in Automotive Industry – The usage of silver cyanide in silver plating of automotive parts provides numerous benefits such as excellent corrosion resistance to base material, superior finish and lower costs. The expansion of automotive industry is thus estimated to

fuel the market growth. As per recent statistics, the global automotive industry is expected garner approximately USD 8 trillion by 2030. Furthermore, it was calculated that around 67 million units of vehicles were sold internationally in 2021 and around 56 million units were produced in 2020. 

  • Expansion in Chemical Industry - The total revenue of global chemical industry was calculated to be USD 4 trillion in 2019.
  • Soaring Expenditure in Advanced Chemicals and Materials Industry – In 2019, the global research and development expenditure spending on advanced materials and chemicals industry was USD 42 billion in 2019.
  • Growth in GDP level - As per the World Bank, the Gross Domestic Product (GDP) in 2021 was accounted to be USD 96.1 trillion, up from USD 75.18 trillion in 2015.
  • Rise in Disposable Personal Income – In 2021, the disposable personal income of Americans was approximately USD 16 trillion and the per capita income was calculated to be USD 47, 760.

Challenges

  • Highly Toxic Nature of the Chemical
  • Increased Concern of Health Issues Due to the Chemical
  • Stringent Rules by the Government

The silver cyanide market is segmented and analyzed for demand and supply by application into electronic components, silver plating, metal surface treatment, chemicals & salts, and research. Out of these, silver plating segment is expected to garner the highest revenue by 2031, owing to its increased usage of silver plating across diverse end-use industries such as electronics, manufacturing, laboratory and chemicals. The growth of the global electronics industry is calculated to be 6% in 2020. The increasingly used for silver plating of musical instruments, power generators, utensils, jewelry and several other products. The revenue generated by global musical instruments segment amounts to be USD 39 billion in 2022.

Major Macro-Economic Indicators Impacting the Market Growth

Major-Macro-Economic-Indicators-Impacting-the-Market-Growth

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Silver Cyanide Market Regional Synopsis

Regionally, the global silver cyanide market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in Asia Pacific is projected to hold the largest market share by the end of 2031, owing to the increasing demand for silver cyanide for various applications, lax government regulations, and presence of leading market players. Sales of silver cyanide are growing at a significant pace across countries like China and India due rapid growth of end-use industries including electronics and chemicals. China was the largest market worldwide with electronic industry revenue of around 1.6 trillion euros in 2021. Further, the high investment of expenditure in research and development (R&D) in the region is an another growth factor.

Silver-Cyanide-Market

The global silver cyanide market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global silver cyanide market includes the following segments:

By Purity

  • High Purity
  • Low Purity

By Form

  • Solid
  • Powder

By Application

  • Electronic Components
  • Silver Plating
  • Metal Surface Treatment
  • Chemicals & Salts
  • Research

Top Featured Companies Dominating the Global Silver Cynaide Market

  • American Elements
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Umicore
  • Mahavir Expochem Ltd.
  • Thermo Fisher Scientific
  • SAXONIA Edelmetallie GmbH
  • TANAKA Holdings Co., Ltd.
  • Alfa Aesar
  • Anhul Shuguang Chemical Group
  • DuPont and Dow
  • Metalor Technologies SA

 

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