Middle East and Africa Silver Cyanide Market: Industry Analysis and Forecast (2023-2029) Trends, Statistics, Dynamics, Segmentation by Purity, Application, Form, and Country

  • Middle East and Africa Silver Cyanide Market was valued at USD 0.031 billion in 2023. The Middle East and Africa Market size is estimated to grow at a CAGR of 5.3 % over the forecast period.

  • Format : PDF | Report ID : SMR_809

Middle East and Africa Silver Cyanide Market Definition:

Cyanide is a colorless, tasteless, and odorless toxic chemical. It is a very hard and brittle chemical that is a by-product of certain industrial processes. Silver cyanide is white and toxic. It is used in various sectors such as metal plating.

 

Further, the Middle East and Africa 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 the Middle East and Africa i.e., South Africa, Nigeria, Saudi Arabia, UAE, Kuwait, Egypt, and the Rest of the Middle East and Africa for each segment, the market sizing, and forecasts have been done on the basis of value (in USD Billion).

 

Middle East and Africa Silver Cyanide Market

 

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Middle East and Africa Silver Cyanide Market Dynamics:

Middle East and Africa Silver Cyanide Market Drivers:

1.Increasing use of Electronic devices: The size of the UAE smartphone market is fast-growing, primarily to the growing usage of wireless connectivity in a variety of electronic gadgets. The electronics device market is expected to grow at a CAGR of 5.4% through the forecast period. The market in the United Arab Emirates is being driven by rising consumer electronics R&D and technological breakthroughs, as well as the growing popularity of wearable electronic gadgets. The introduction of IoT across fitness bands, as well as the growing popularity of smart gadgets, have created opportunities for market growth in this country.

 

2.Huge demand for wearable electronic devices: Wearable electronic device market was valued at USD 0.38 Bn in 2021 and it is expected to reach USD 0.89 Bn in 2027 growing at a CAGR of 18.17% through the forecast period. Growing awareness of health, advancements in sensors, and the low cost of wearable products are driving the market growth in this region. Silver cyanide is used in the silver plating of electronics devices and components. Majorly all electronic components are silver plated to prevent them from the external environment.  

 

3.Adoption of silver plating by various sectors: Silver plating is used in a variety of fields, including medical, electronics, telecommunications, automotive, and others. Silver plating has great anti-galling characteristics, high lubricity, a wide operating temperature range, excellent corrosion resistance, and high conductivity. Silver plating is largely performed with silver cyanide. It contributes to the improvement of product quality and strengthens its adaptability to the external environment. It also has high electrical conductivity, good thermal conductivity, and strong light reflectivity qualities.

 

4.Increased usage of silver cyanide in the treatment of metal surfaces: The metal surface treatment market in the Middle East and Africa region is expected to grow at a CAGR of 6.5% through the forecast period. The increasing demand the silver cyanide due to its benefits is driving the silver cyanide market growth.

 

Middle East and Africa Market Silver Cyanide Challenges: In several geographical markets, strict environmental rules addressing emissions limit the volume sales of various surface treatment chemicals. Also, the toxicity of silver cyanide is a limiting factor for the market. The poisonous property of silver cyanide is hindering the market growth for the silver cyanide market.

 

Middle East and Africa 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 Middle East and Africa region with a share of about 68%. 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. Silver cyanide is used in silver plating the components of batteries and the battery energy storage market is expected to grow at a CAGR of 5.2% through the forecast period.

 

Middle East and Africa Silver Cyanide Market

 

Middle East and Africa Silver Cyanide Market Key Players Insights:

The market is characterized by the existence of several 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 Middle East and Africa Silver Cyanide market to the stakeholders in the industry. The report provides trends that are most dominant in the Middle East and Africa 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 Middle East and Africa 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 Middle East and Africa 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 Middle East and Africa Silver Cyanide markets. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Middle East and Africa Silver Cyanide markets.

 

 

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 Middle East and Africa Silver Cyanide markets. The report also analyses if the Middle East and Africa Silver Cyanide markets easy for new players 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 Middle East and Africa Silver Cyanide market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Middle East and Africa Silver Cyanide markets. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Middle East and Africa Silver Cyanide market is aided by legal factors.

 

Middle East and Africa Market Scope:

 

Middle East and Africa Silver Cyanide Market

Market Size in 2023

USD 0.0315 Bn.

Market Size in 2030

USD 0.04 Bn.

CAGR (2024-2030)

5.3 %

Historic Data

2018-22

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

South Africa
GCC
Egypt
Nigeria
Rest of the Middle East and Africa

 

 

Middle East and Africa Silver Cyanide Market Key Players

 

  • American Elements (California, US)
  • Umicore (Brussels, Belgium)
  • Alfa Aesar (Massachusetts, US)
  • Sasol (Sandton, South Africa)
  • TANAKA Holdings Co., Ltd. (Tokyo, Japan)
  • Merck KGaA (Darmstadt, Germany)


Frequently Asked Questions

The segments covered in the Middle East and Africa Market report are based on Purity, Application, and Form

  1. Scope of the Report
  2. Research Methodology
    • Research Process
    • Middle East and Africa Silver Cyanide Market: Target Audience
    • Middle East and Africa Silver Cyanide Market: Primary Research (As per Client Requirement)
    • Middle East and Africa Silver Cyanide Market: Secondary Research
  3. Executive Summary
  4. Competitive Landscape
    • Stellar Competition matrix
      • Middle East & Africa 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. Middle East and Africa Silver Cyanide Market Segmentation
    • Middle East and Africa Market, by Purity (2023-2030)
      • High Purity
      • Low Purity
    • Middle East and Africa Silver Cyanide Market, by Application (2023-2030)
      • Electronic Components
      • Silver Plating
      • Metal Surface Treatment
      • Chemicals & Salts
      • Research
    • Middle East and Africa Silver Cyanide Market, by Form (2023-2030)
      • Solid
      • Powder
    • Middle East and Africa Silver Cyanide Market, by Country (2023-2030)
      • South Africa
      • Ethopia
      • Saudi Arabia
      • UAE
      • Rest of Middle East & Africa
  6. Company Profiles
    • Key Players
      • American Elements (California, US)
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Business Strategy
        • Key Developments
      • Umicore (Brussels, Belgium)
      • Alfa Aesar (Massachusetts, US)
      • Sasol (Sandton, South Africa)
      • TANAKA Holdings Co., Ltd. (Tokyo, Japan)
      • Merck KGaA (Darmstadt, Germany)
  7. Key Findings
  8. Recommendations

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