Oxalic Acid

Oxalic Acid

Global Oxalic Acid Market to Reach US$720.1 Million by 2030

The global market for Oxalic Acid estimated at US$607.5 Million in the year 2023, is expected to reach US$720.1 Million by 2030, growing at a CAGR of 2.5% over the analysis period 2023-2030. Dihydrate Grade Oxalic Acid, one of the segments analyzed in the report, is expected to record a 2.9% CAGR and reach US$336.9 Million by the end of the analysis period. Growth in the Amorphous Grade Oxalic Acid segment is estimated at 2.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$164.9 Million While China is Forecast to Grow at 4.3% CAGR

The Oxalic Acid market in the U.S. is estimated at US$164.9 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$139.1 Million by the year 2030 trailing a CAGR of 4.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.4% and 2.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.

Global Oxalic Acid Market - Key Trends & Drivers Summarized

Why Is Oxalic Acid a Critical Chemical in Various Applications?

Oxalic acid is a versatile organic compound widely used in multiple industrial and domestic applications. It is characterized by its ability to act as a reducing agent and its capacity to form strong complexes with metal ions. These properties make oxalic acid essential in industries such as textile, metal processing, and pharmaceuticals. In the textile industry, oxalic acid is used for bleaching and cleaning fabrics. The metal processing industry utilizes oxalic acid for rust removal and metal cleaning. Additionally, oxalic acid serves as a precursor in the synthesis of various pharmaceuticals and as a cleaning agent in household products. The broad range of applications underscores the importance of oxalic acid in global markets.

How Have Technological Innovations Enhanced Oxalic Acid Production and Applications?

Technological advancements have significantly improved oxalic acid production and its applications. Innovations in production methods, such as electrochemical synthesis and bio-based production processes, have increased the efficiency and sustainability of oxalic acid manufacturing. Advanced purification techniques have enabled the production of high-purity oxalic acid for specialized applications, such as in pharmaceuticals and electronics. The development of new formulations and delivery systems has expanded the use of oxalic acid in various industries, including its use as a catalyst in chemical reactions. These technological strides have enhanced the versatility and utility of oxalic acid, driving its demand across multiple sectors.

What Are the Current Trends in Oxalic Acid Consumption?

Current trends in oxalic acid consumption reflect its broadening applications and evolving industry demands. The textile industry continues to be a significant consumer of oxalic acid, driven by the demand for effective bleaching and cleaning agents. The metal processing sector is also witnessing increased use of oxalic acid for rust removal and metal surface treatment. The pharmaceutical industry relies on oxalic acid for the synthesis of various drugs and intermediates. Additionally, the use of oxalic acid in household cleaning products is on the rise, driven by its effectiveness and safety. Emerging applications of oxalic acid in electronics, particularly in the production of semiconductors and other high-tech components, are also gaining traction. These trends highlight the diverse applications and growing importance of oxalic acid in various industries.

What Factors Are Driving the Growth in the Oxalic Acid Market?

The growth in the oxalic acid market is driven by several factors. Firstly, the rising demand for effective bleaching and cleaning agents in the textile industry is propelling the use of oxalic acid. Secondly, the expanding metal processing industry`s reliance on oxalic acid for rust removal and metal treatment is a significant growth driver. The pharmaceutical sector`s increasing use of oxalic acid in drug synthesis and formulation also contributes to market growth. Additionally, the growing demand for household cleaning products that utilize oxalic acid is boosting consumption. The development of advanced production methods and high-purity oxalic acid for specialized applications further enhances market growth. Lastly, ongoing research and development efforts aimed at discovering new applications and improving production processes continue to foster market expansion, underscoring the robust growth trajectory of the oxalic acid market.

Select Competitors (Total 22 Featured) -

• HeFei DongFeng Genral Chemical Plant
• Honeywell Research Chemicals
• Indian Oxalate Limited
• MilliporeSigma
• Oxaquim SA
• Punjab Chemicals and Crop Protection Ltd.
• Qingzhou Aoxing Chemical Co., Ltd.
• Radiant Indus Chem Pvt., Ltd.
• Shandong Fengyuan Chemical Co. Ltd.
• STAR OXOCHEM PVT. LTD.
• Thermo Fisher Scientific - Alfa Aesar
• UBE Industries Ltd.
• WeylChem International GmbH

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