The global potassium dicyanoaurate market is subject to witness a substantial growth due to the rising demand from number of end-user industries across the globe. Use of potassium dicyanoaurate for applications such as manufacturing electronic equipment and customizable jewelry is expected to boost market demand over the next seven years. Potassium dicyanoaurate is also referred as gold potassium cyanide or potassium gold dicyanide.
Rapid growth of fashion industry and increasing adoption of potassium dicyanoaurate for jewelry plating is anticipated to drive the growth of the market over the forecast period. Shifting consumer trends towards gold plated jewelry over the traditional silver plated jewelry is predicted to favor market growth as well. Globally, the market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the potassium dicyanoaurate market.
Political stability, positive socioeconomic changes and easy availability of raw materials are expected to foster market expansion over the upcoming years. Rising personal disposable income in emerging economies across Asia Pacific, Latin America and Middle East region, is estimated to augment market growth over the coming years. In addition, increasing competition and massive investment by industry leaders in research & development activities are driving industry expansion in North America and Europe. Growing demand for potassium dicyanoaurate for manufacturing of gold plated jewelry is major contributing factor for market growth as well.
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Gold potassium cyanide or potassium dicyanoaurate is increasingly used in application involving watch plating, electroforming, barrel plating, terminal, flexible printed circuits & printed circuit boards, electroplating metals other than electronics industry and hanging plating. Potassium dicyanoaurate is also used for wafer gold plating during various industry processes in semiconductor, diodes and packaging industry.
The market is broadly categorized into four major segments based on the application type such as industrial sector, electrical & electronics sector, decorative segment and pharmaceutical sector. The electrical & electronics sector is considered as one of the fastest growing segment in the potassium dicyanoaurate market with substantial revenue generation in the last few years.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in chemical manufacturing sector, increase in the number of research & development activities in the region and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the potassium dicyanoaurate market with massive growth in forecast period. Countries such as India, China, Japan and Singapore are leading the Asia-Pacific market with strong economic growth in the region, growing electronics & electrical industry, rapid growth in fashion industry, rising disposable income, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the potassium dicyanoaurate market are Sreenivasa Industries, Inc., Prominex Precious Mineral Resources Ltd., Bangalore Refinery Private Ltd., GFS Chemicals, Inc., Barrick Gold Co., Kinross Gold Co., Italpreziosi S.p.A, Newmont Mining Co., The Tanaka Kikinzoku Group Co., and Valcambi S.A.
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