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

  • Europe Silver Cyanide Market was valued at USD 0.55 billion in 2023. Global Market size is estimated to grow at a CAGR of 5.1 %

     

  • Format : PDF | Report ID : SMR_797

Europe Silver Cyanide Market Definition:

Silver Cyanide is a chemical that is used in silver plating. Silver cyanide is useful in the production of different items, including paper, textiles, and paint. Also useful in metal surface plating. Silver cyanide is white in color, and it is poisonous.

 

Further, the Europe Silver Cyanide market is segmented by purity, application, form, and geography. On the basis of purity, the market is segmented under the channels of 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 Europe i.e., Italy, Germany, United Kingdom, Russia, France, and the Rest of Europe For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

Europe Silver Cyanide Market

 

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Europe Silver Cyanide COVID 19 Insights: COVID 19 has had an impact on Europe's major countries. The electroplating market was impacted by the fact that most of the countries in the region were under lockdown. Among all European countries, Germany was having the largest number of confirmed cases of COVID-19 infection.The chemical and material sectors in the region were to be impacted, owing to disrupted supply and distribution channels. Economies were also having a negative impact due to the covid 19. After the covid crisis now all sectors are slowly recovering.

 

Europe Silver Cyanide Market Dynamics:

Europe Silver Cyanide Market Drivers:

 

  1. Introducing technology upgrades and modern features in electronics: The consumer electronics market was valued at USD 205 Bn in 2022 and expected to grow at a CAGR of 8% through the forecast period. Most of the electronics and their components are electroplated. Majorly silver plating is done. It has various advantages of silver coating of electronics. Silver cyanide is used in plating electronics and electronic components.The European region is always in the front seat in the case of technological development. Germany is very aggressive in the technology upgradation and the modern features provided by the players in the market are booming the market growth.

 

  1. Adoption of silver cyanide in metal surface treatment: The metal surface treatment market in Europe region is expected to grow at a CAGR of 6.54% through the forecast period. The increasing demand the silver cyanide due to its various benefits is driving the silver cyanide market growth. Metal surface treatment is used in corrosion prevention, decorative surface creation, electronic circuit board manufacturing, and electromagnetic shielding of cellular phones, and computers.

 

 Growing chemical sector in Europe: By turnover, the Europe region’s chemical sector accounts for about 7.5 percent of EU manufacturing. And had sales of € 585 billion in 2021, accounting for around 17% of total chemical sales in the world.

 

The chemical sector in Europe region is expected to grow at CAGR of 4% through the forecast period. BASF was the leading chemical firm in Europe in terms of revenue in 2021. The chemical firm situated in Germany had a revenue of around USD 86.5 billion in that year. This was nearly double the sales of BASF's nearest competitor at the time, LyondellBasell Industries of the Netherlands. BASF is a multinational company with operations in chemicals, plastics, performance products, agricultural and functional solutions, as well as oil and natural gas.

 

Europe Silver Cyanide Market Opportunities: Silver cyanide is mostly used in the manufacturing sector and the Europe region is a hub for the electronics sector. The electronics market is expected to grow at a CAGR of 8% through the forecast period. The silver cyanide market will have a significant rise in the market growth in this region through the forecast period.

 

The innovation of newer technologies and products in the electronics market will drive significant growth as silver cyanide is used in the coating of electronics components. 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.

 

Europe 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. Due to its toxicity, the other chemicals are replacing the silver cyanide in the coating and metal plating market.

 

Europe 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 Europe region with a share of about 75%. 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 and in coating of the electronics component like semiconductors and electronic chips.

 

                                                                                Europe Silver Cyanide Market

 

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. The popularity of batteries in supporting home solar is especially evident in Germany, where 70 percent of newly installed batteries. 

 

Europe 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 Europe Silver Cyanide market to the stakeholders in the industry. The report provides trends that are most dominant in the Europe 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 Europe 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 Europe Silver Cyanide market report is to help understand which market segments, 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 Europe 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 Europe 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 Europe Silver Cyanide market. The report also analyses if the Europe 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 Europe Silver Cyanide market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Europe Silver Cyanide market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Europe Silver Cyanide market is aided by legal factors.

 

Europe Silver Cyanide Market Scope:

Europe Silver Cyanide Market 

Market Size in 2023

USD 0.55 Bn

Market Size in 2030

USD 0.78 Bn

CAGR (2024-2030)

5.1 Percent

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

  • UK and Rest of Europe
  • France
  • Germany
  • Italy 
  • Spain 
  • Sweden
  • Austria

 

Europe Silver Cyanide MARKET KEY PLAYERS: 

  • Umicore (Brussels, Belgium)
  • Metalor Technologies SA (Switzerland)
  • Merck KGaA (Darmstadt, Germany)
  • BASF (Ludwigshafen, Germany)
  • Linde (Dublin, Ireland)
  • Air Liquide (Paris, France)
  • American Elements (California, US)
  • Thermo Fisher Scientific (Massachusetts, US)

 

 

 

 


Frequently Asked Questions

The segments covered in the Europe Silver Cyanide Market report are based on Purity, Application, and Form.

  1. Scope of the Report
  2. Research Methodology
    • Research Process
    • Europe Silver Cyanide Market: Target Audience
    • Europe Silver Cyanide Market: Primary Research (As per Client Requirement)
    • Europe Silver Cyanide Market: Secondary Research
  3. Executive Summary
  4. Competitive Landscape
    • Stellar Competition matrix
      • Europe Stellar Competition Matrix
    • Key Players Benchmarking: - by Product, Pricing, Investments, Expansion Plans, Physical Presence, and Presence in the Market.
    • Mergers and Acquisitions in Industry: - M&A by Region, Value, and Strategic Intent
    • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Market Challenges
    • PESTLE Analysis
    • PORTERS Five Force Analysis
    • Value Chain Analysis
  5. Europe Silver Cyanide Market Segmentation
    • Europe Silver Cyanide Market, by Purity (2023-2030)
      • High purity
      • Low purity
    • Europe Silver Cyanide Market, by Application (2023-2030)
      • Electronic Components
      • Silver Plating
      • Metal Surface Treatment
      • Chemicals & Salts
      • Research
    • Europe Silver Cyanide Market, by Form  (2023-2030)
      • Solid
      • Powder
    • Europe Silver Cyanide Market, by Country (2023-2030)
      • Italy
      • France
      • Russia
      • United kingdom
      • Rest of Europe
  6. Company Profiles
    • Key Players
      • Umicore
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Business Strategy
        • Key Developments
      • Merck KGaA
      • Metalor Technologies SA
      • BASF
      • Linde
      • Air Liquide
      • American Elements
      • Thermo Fisher Scientific
  7. Key Findings
  8. Recommendations

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