The North America Hydrogen Cyanide Market would witness market growth of 1.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 314.9 Kilo Tonnes, showcasing a growth of 1.2% (2019-2022).
Hydrogen cyanide (HCN) is a colorless, fairly toxic, volatile chemical compound with the formula HCN. It is composed of a hydrogen atom bonded to a carbon atom, also related to a nitrogen atom. HCN is used to manufacture chemicals such as nylon, acrylic fibers, and plastics. It has a different bitter almond odor, though some people can no longer perceive it due to a genetic trait. HCN is relatively reactive and can release poisonous gases when combusted. It poses significant health risks to humans, with inhalation or ingestion, leading to severe respiratory, cardiovascular, and neurological effects and even death if inhaled in high concentrations.
With advancements in technology and the growing focus on the area of expertise in chemicals, the demand for HCN is anticipated to develop further. The growth of the chemical industry, pushed by factors such as industrialization, economic development, and evolving consumer needs, creates opportunities for the market. Market players in the HCN industry are strategically located to meet the upward demand for chemical substances and capitalize on the increasing market.
According to the US Department of Agriculture, the agriculture industry contributed roughly $1.264 trillion to the US gross domestic product (GDP) in 2021, a 5.4-percent share. The output of America's farms contributed $164.7 billion—about 0.7 percent of US GDP. The overall contribution of agriculture to GDP is larger than 0.7 percent because sectors related to agriculture rely on agricultural inputs to contribute added value to the economy. Hydrogen cyanide is a precursor in synthesizing certain agrochemicals, including pesticides and herbicides. These chemicals are crucial in crop protection, pest control, and weed management. These aspects will boost the market growth in the coming years.
The US market dominated the North America Hydrogen Cyanide Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $338.4 million by 2030. The Canada market is experiencing a CAGR of 2.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 2.7% during (2023 - 2030).
Based on Product, the market is segmented into Hydrogen Cyanide Liquid, and Hydrogen Cyanide Gas. Based on Application, the market is segmented into Adiponitrile, Sodium Cyanide & Potassium Cyanide, Acetone Cyanohydrin, Cyanogen Chloride, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Hydrogen Cyanide Market is Predict to reach $1.3 Billion by 2030, at a CAGR of 2.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Air Liquide S.A., Evonik Industries AG (RAG-Stiftung), INEOS Group Holdings S.A., Sumitomo Chemical Co., Ltd., Ascend Performance Materials LLC (SK Capital and Partners), Kuraray Co., Ltd., Asahi Kasei Corporation, Mitsubishi Gas Chemical Company, Inc., Cyanco International, LLC (Cerberus Capital Management, L.P.) and Cornerstone Chemical Company (Littlejohn & Co., LLC).
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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