Dublin, Sept. 28, 2020 (GLOBE NEWSWIRE) -- The "Gold Potassium Cyanide Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market for gold potassium cyanide is expected to grow at a CAGR of more than 3% globally during the forecast period.
Increasing applications for electroplating of gold and growing demand from the electronic industry are driving the market growth.
Highly toxic nature and the impact of COVID-19 are expected to hinder the market growth.
Key Market Trends
Growing Demand from Electronic and Metal Plating Industries
- Gold potassium cyanide (KCN) is an important gold source used in electrolytic gold plating and electroplating of other metals. KCN also finds its applications in electronic devices because of its excellent properties.
- Gold electroplating is mostly carried out to obtain long-lasting decorative finishes and in some cases to improve electric contact and conductivity. Jewelry, fancy goods such as handbags, optical frames, power compacts, and costumes jewelry pen cases, plumbing fixtures are few applications of gold electroplating.
- Properties of electroplated coatings of gold are high conductivity, excellent resistance to corrosion, low contact resistance, and remarkable ability to form very good thermocompression bonds.
- Due to these properties, the electronic Industry has a strong relation with KCN. KCN has become a valuable element in the fabrication of microelectronic and electronic devices such as calculators, transistors, and diodes.
- Larger items such as heat sinks, heater, springs, wires connectors, printed circuits are the common applications for gold potassium cyanide.
- Recently, the outbreak of COVID-19 in all regions is expected to decrease the demand for gold potassium cyanide from the metal and electronic industries in the short term.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific is expected to dominate the global market owing to the highly developed electronic sector in China, Korea, and Japan and growing demand for precious metals like gold in countries such as India for various reasons.
- Electronic component manufacturing Industries have been consuming KCN for different applications such as flexible printed circuits and printed circuit boards, semiconductors, diodes, and other electronic chips that are used in electronic devices.
- According to the World Gold Council (WGC), China is the largest consumer of gold in 2019. Luxury watches and jewelry segment stands top and is also the fastest growing segment in the consumption of gold. This reason is expected to increase the demand for KCN from the Asia-Pacific region.
- Factors like increasing urbanization, growing connectivity, combined with the usage of advanced technology in the manufacturing of safety technologies and infotainment systems, are boosting the demand for KCN from various electronic devices.
- Growth in aerospace, metal plating industries, and the electronic end-user industries in the Asia-Pacific region are expected to drive the market for gold potassium cyanide through the years to come
- The continuous growth in the medical sector, increasing demand from automobile and aerospace and defense sectors, are expected to drive the market for gold potassium cyanide through the years to come.
Competitive Landscape
The global gold potassium cyanide market is fragmented in nature with many players competing in the market. Some of the major companies are Alfa Aesar, Spectrum Chemical, Bangalore Refinery Pvt Ltd, The Metalor Group, and Legor Group, among others.
Reasons to Purchase this report:
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Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Applications for Electroplating of Gold
4.1.2 Growing Demand from the Electronics Industry
4.2 Restraints
4.2.1 High Toxic Nature and Impact of COVID-19
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Applications
5.1.1 Electroplating of Metals
5.1.2 Decorative Costume Jewellery
5.1.3 Electronic Devices
5.1.4 Watches
5.1.5 Other Applications
5.2 Geography
5.2.1 Asia-Pacific
5.2.1.1 China
5.2.1.2 India
5.2.1.3 Japan
5.2.1.4 South Korea
5.2.1.5 Rest of Asia-Pacific
5.2.2 North America
5.2.2.1 United States
5.2.2.2 Canada
5.2.2.3 Mexico
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 United Kingdom
5.2.3.3 France
5.2.3.4 Italy
5.2.3.5 Rest of Europe
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle-East and Africa
5.2.5.1 Saudi Arabia
5.2.5.2 South Africa
5.2.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Alfa Aesar
6.4.2 Bangalore Refinery Pvt Ltd
6.4.3 Innova corporate
6.4.4 Legor Group
6.4.5 Mahavir Expochem Ltd
6.4.6 PAREKH INDUSTRIES LTD
6.4.7 Prominex Precious Mineral Resources
6.4.8 Spectrum Chemical
6.4.9 The Metalor Group
6.4.10 Umicore Electroplating
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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