Sodium thiocyanate is a chemical compound which appears to be colorless or white powder. This powder easily dissolves in ethanol, water and acetone. It is a rhombic system crystal which has relative density 1.735 and melting point of 287 degree Celsius. Sodium thiocyanate decomposes on heating under light and produces harmful fumes of sulfur oxide, cyanides and nitrogen oxides. It reacts vigorously with strong bases, acids and strong oxidants. Due to these properties of sodium thiocyanate, it is used for wide range of applications in various end-user industries. Industries such as pharmaceutical, fiber, architecture, pesticide and personal care products among others are the major consumers of sodium thiocyanate worldwide.
Sodium thiocyanate is used for a wide range of applications ranging from personal care products to building and construction industry. The major industry which has highly contributed to the growth of sodium thiocyanate market is the pharmaceutical industry. Sodium thiocyanate is used as a raw material in production of wide range of pharmaceutical products. Hence, high demand for sodium thiocyanate from the pharmaceutical industry is driving the growth of global sodium thiocyanate market worldwide. Growing building and construction activities in emerging economies, especially Asia Pacific has led to high demand for sodium thiocyanate in the global market. Sodium thiocyanate is used as a hardening accelerator for concrete and cement mixes. Therefore, high demand is reported for sodium thiocyanate from the construction industry worldwide. Other industries such as pesticide and personal care products are also anticipated to boost market demand for sodium thiocyanate in the near future.
Sodium thiocyanate market is expected to reach over US$ 1454.0 Mn by 2023, growing at a CAGR ranging from 4.5% to 6.0% during the forecast period 2016-2023.
Purpose of the Report
The purpose of this strategic research study titled “Global Sodium Thiocyanate Market - Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2023” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global sodium thiocyanate market.
Target Audience
USP and Key Offerings
The report titled “Global Sodium Thiocyanate Market - Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2023” offers strategic insights into the global sodium thiocyanate market along with the market size and estimates for the duration 2015 to 2023. The said research study covers in-depth analysis of multiple market segments based on end-user applications, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading sodium thiocyanate vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global sodium thiocyanate market, of growth, offering market size and estimates for the period from 2015 to 2023, keeping in mind the above mentioned factors.
Sodium Thiocyanate is a chemical compound which is also known as Sodium sulphocyanide, Sodium rhodanide, Sodium rhodonate and Thiocyanic acid among others. It is a chemical compound which has a formula NaSCN. Sodium Thiocyanate is in the form of colorless powder that is known to be the main sources of Thiocyanate anion. The major applications of sodium thiocyanate is into end-user industries such as pharmaceutical, fiber, architecture, pesticide, personal care products and others. Among the above mentioned end-user industries, sodium thiocyanate is used on a large scale in the pharmaceutical industry. It is used as a raw material for production of various pharmaceutical products. High demand is observed from pharmaceutical industry and hence, is expected to fuel demand for sodium thiocyanate market. Sodium thiocyanate has major application in the fiber industry. It is used as a spinning solvent for polyacrylonitrile. Therefore fiber industry is also anticipated to boost growth of global sodium thiocyanate in the market. Growing building and construction activities worldwide has led to high demand for sodium thiocyanate in the market. It is used as a hardening accelerator for cement and concrete mixes. Other end-user industries such as pesticide and personal care products among others are also projected to fuel market growth of sodium thiocyanate during the forecast period 2015 to 2023.
Asia Pacific accounted as the fastest growing market for global sodium thiocyanate market in 2016. Growing demand for sodium thiocyanate from the pharmaceutical industry is the major factor driving the growth of global sodium thiocyanate in the region. Increasing constructional activities in the emerging economies such as China and India is another factor contributing to the growth of global sodium thiocyanate market. Hence, high demand is reported for sodium thiocyanate from Asia Pacific. North America is also anticipated to boost market demand for sodium thiocyanate. Growing demand from the fiber industry in the region has boosted market demand for sodium thiocyanate in the region. The use of sodium thiocyanate as a spinning solvent has driven market growth of sodium thiocyanate in North America. Other regions such as Europe, Middle East and Rest of the World are also projected to boost market demand for sodium thiocyanate during the forecast period from 2015 to 2023.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Sodium Thiocyanate market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
End-user
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
