Asia Pacific Silver Cyanide Market: Industry Analysis and Forecast (2024-2030)

Asia Pacific Silver Cyanide Market Definition:

Silver cyanide is a white to grey powder with no odor or flavor that darkens when exposed to light. It is insoluble in water and toxic to the skin through open wounds. Silver cyanide is useful in the production of different items, including paper, textiles, and paint. Also useful in metal surface plating.

 

Further, the Asia Pacific Silver Cyanide market is segmented by purity, Application, form, and geography. On the basis of purity, the Asia Pacific Silver Cyanide market is segmented under high purity and low purity. Based on the form, the Silver Cyanide market is segmented under the Solid and powdered. Based on the Application, the Silver Cyanide market is segmented under the Electronic Components, Silver Plating, Metal Surface Treatment, Chemicals & Salts, and Research. By geography, the market covers the major countries in Asia Pacific i.e., India, China, Japan, Australia, and Rest of Asia Pacific for each segment, the market sizing, and forecasts have been done on the basis of value (in USD Billion).

 

 

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Asia Pacific Silver Cyanide COVID 19 Insights:

 

Chemical sector, manufacturing sector, and automobile market have been hit hard by the COVID 19. All the manufacturing facilities were shut down as per government decisions and the supply chain was disrupted. Economies were also having a negative impact due to the COVID 19. After the covid crisis now all sectors are slowly recovering.

 

Asia Pacific Silver Cyanide Market Dynamics:

Asia Pacific Silver Cyanide Market Drivers:

 

1.Increased use of silver cyanide in metal surface treatment: The metal surface treatment market in Asia pacific region is expected to grow at a CAGR of 7% through the forecast period. The increasing demand the silver cyanide due to its benefits is driving the silver cyanide market growth. In this region, the metal surface treatment market in India is growing at a CAGR of 5.8% through the forecast period. This growth is due to the high demand for automobile parts, railways, and the defense sector.

 

2.Significant growth of the chemical sector: Asia pacific region dominates the chemical market with a 58.6% share. China is having the largest chemical market in Asia pacific region. In Asia pacific region countries like India are developing countries and the huge population and rapid industrialization are driving the market growth in this region. India has observed impressive growth in the chemical export market and created a record export in 2021 of about US$ 29 Bn chemical export.

 

3 .Huge demand for electronic devices: The population of the Asia Pacific region is about 4.3 Bn which is around 59.7% of the total world population. India and China account for the most population in this region. The rapid urbanization and increased penetration of electronic devices in the population are driving the market growth in this region. The consumer electronics market in Asia pacific region was valued at US$ 400 Bn in 2021 and it is expected to grow at a CAGR of 9% through the forecasted period.

 

Silver cyanide is used in silver plating and most electronic devices are silver plated. The semiconductors, connectors, bearings, etc. are majorly silver coated for being prevented corrosion. The reason for choosing silver for coating is that silver is more affordable than the gold and platinum. So, it becomes easier to use silver for coating.

 

Asia Pacific Silver Cyanide Market Opportunities: Silver cyanide is mostly used in the manufacturing sector and the Asia pacific region is a hub for the manufacturing sector. The manufacturing sector is expected to grow at a CAGR of 6.6% through the forecast period. The silver cyanide market will have a significant rise in the market growth in this region through the forecast period.

 

Because of its potential to raise the appearance of products, it is increasingly being used for a wide range of applications, including aesthetic effects on teapots, and trays. Increased sales of these items will give opportunities for growth in the silver cyanide market through the forecast period. Teapots and trays like household applications will have increased demand in the Asia Pacific region owing to the huge population and it will create a bigger impact on the market growth.

 

Asia Pacific Silver Cyanide Market Challenges: Silver cyanide is a poisonous chemical and this factor can hamper the market growth. Because of its severe toxicity, it is rapidly being phased out of metal plating applications. Perhaps it is for this reason that the various top medicinal and drug laboratories have classified it as a very dangerous material.

 

Asia Pacific Silver Cyanide Market Segment Analysis:

By Purity, the silver cyanide market is segmented into Low purity and high purity. High purity silver cyanide dominates the segment in the Asia pacific region with a share of about 65%. It is expected to grow at a significant rate through the forecast period. High purity silver cyanide has high demand in the chemical sector as it is used for the synthesis of salts of various compounds.  

 

 

By Application, the silver cyanide market is segmented into Electronic Components, Silver Plating, Metal Surface Treatment, Chemicals & Salts, and Research. Silver cyanide is used in electronic components for the plating. It is also used in solar batteries for silver plating. This is emerging technology and demand for solar batteries is increased in recent years and it will continue.

 

Asia Pacific Silver Cyanide Market Key Players Insights:

 

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the Europe market, key players in the market, particularly in this region, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Asia Pacific Silver Cyanide market to the stakeholders in the industry. The report provides trends that are most dominant in the Asia Pacific Silver Cyanide market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Asia Pacific Silver Cyanide Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Asia Pacific Silver Cyanide market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Asia Pacific Silver Cyanide market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Asia Pacific Silver Cyanide market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Asia Pacific Silver Cyanide market. The report also analyses if the Asia Pacific Silver Cyanide market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Asia Pacific Silver Cyanide market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Asia Pacific Silver Cyanide market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Asia Pacific Silver Cyanide market is aided by legal factors.

 

Asia Pacific Silver Cyanide Market Scope:

Asia Pacific Silver Cyanide Market Scope
Market Size in 2023	USD 0.16 Bn.
Market Size in 2030	USD 0.25 Bn.
CAGR (2024-2030)	5.9%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Purity High Purity Low Purity
	By Application Electronic Components Silver Plating Metal Surface Treatment Chemicals & Salts Research
	By Form Solid Powder
Country Scope	China India  Japan  South Korea Australia  ASEAN Rest of APAC

 

Asia Pacific Silver Cyanide MARKET KEY PLAYERS: 

• TANAKA Holdings Co., Ltd. (Tokyo, Japan)
• KSIP Pte. Ltd. (Singapore)
• SUVCHEM (Mumbai, India)
• Anhul Shuguang Chemical Group (Anhui, China)
• Mahavir Expochem Ltd. (Ahmedabad, India)
• Taiwan Guangyang (Penghu, Taiwan)
• Umicore (Brussels, Belgium)