Future Market Insights
Global Gold Compounds Market: Introduction
Gold compounds are generally the gold salts and chemical compounds with halogen, oxygen and hydrogen. Some of the most common gold compounds which are frequently used for diverse industrial as well as medical applications include gold chloride, gold potassium cyanide, Gold (III) chloride hydrate and Auranofin. Gold chloride is extensively used as the starting point for the synthesis of a number of other gold compounds. Gold potassium cyanide is primarily used as an electrolytic solution for the source of gold in electroplating industry in the manufacturing process of electronic equipment, jewellery and other products. Auranofin is one of the most common gold compounds used in the treatment of rheumatoid arthritis. Gold compounds are used in diagnostic radiology and in the radiological treatment of certain malignant neoplastic diseases. However, gold is potentially toxic, so in addition with treating any individuals it can have some serious side effects. The toxic reaction ranges from mild dermatoses to lethal poisoning.
Global Gold Compounds Market: Market Dynamics
Global gold compounds market is expected to witness significant growth, due to rising number of application across diverse sectors, such as personal care & cosmetics, industrial catalysts and electronics, etc. The vast rise in applications of gold compounds in the medical field is expected to drive the global gold compounds market at a substantial pace. Gold compounds are increasingly used for the treatment of rheumatoid arthritis. Owing to high growth of electrical and electronics industry across the globe, the demand for gold potassium cyanide is expected to rise at a significant pace. Moreover, gold potassium cyanide being a toxic product, prominent players are focusing on development of cyanide free gold solution for metal finishing processes in the global market. Additionally, increase in living standard and sense of fashion leading to growth in fashion business is another factor for the growth of gold compounds market.
However, higher prices associated with gold along with the gap in demand supply scenario of raw materials expected to hamper the growth of gold compounds market. Moreover, owing to toxic nature of gold compounds and rules & regulations governing the handling and disposal of the compounds is also expected to be a restraining factor for the growth of gold compounds market.
With the advancement in nanotechnology, the market is expected to provide immense opportunities for the growth and development of gold nanoparticles. Prominent players operating in gold compounds market are emphasizing on expanding their product portfolio in order to enhance its application base. The developed economics across the globe are focusing on enhancing its presence in the market, with the focus on penetrating into the emerging economics countries such as China and India.
Global Gold Compounds Market: Segmentation
Based on chemical compounds, global gold compounds is segmented as:
On the basis of End Use industry, global Gold Compounds market is segmented as:
Global Gold Compounds Market: Regional Outlook
Asia pacific has a huge demand for gold compounds owing to high demand from large consumer base. Furthermore, with the outburst of electronic industry in Asia Pacific especially in emerging countries such as India and China, is expected to lead the growth of gold compounds market at a high rate in the next coming years. Upsurge in demand of consumer electronics in APAC as well as other parts of the world, is expected to drive the gold compounds market at a steady rate. Europe gold compounds market is expected to grow at a moderate pace during the forecast period, owing to increasing investment for cosmetic and medicines.
Global Gold Compounds Market: Key Players
Examples of some of the market participants operating in the global rust remover market are as follows:
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