In 2016, the global oxalic acid market was valued at $546.9 million. The overall demand for ethanedioic acid or oxalic acid is anticipated to grow at a steady CAGR over the forecast period. Global oxalic acid market is witnessing a fast growth and is expected to continue over the forecast period. In addition to this, numerous companies are accepting the plans such as collaboration, joint ventures and expansion to increase the growth in the global oxalic acid market.
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Oxalic acid is an organic compound used in pharmaceutical industry for the manufacture of medicines such as aureomycin, tetracycline, oxytetracycline and many more. It is also used in laundries for removing iron rust stains, paint, color, ink stains and varnish, as bleaching agent, in dyeing and calico printing, wood cleaning and metal polishing, leather tanning process and the agent for precipitation in Rare Earth’s Industry. Increase in the development in medical sectors, pharmaceutical industries is the main reason for the rise in demand of oxalic acid globally. Oxalic acid is harmful on extreme exposure and tissues which results into laryngitis, burning sensation, spasm and many more which affects the growth of the oxalic acid market.
On the basis of grade, oxalic acid is divided into three main segments i.e. solution, anhydrous and dehydrate. Dihydrate is the most favored grade which contributed for more than 45% of overall market revenue in 2016. Flavoring agent in bakery products & ice-cream, regulates pH in beverages & foods are some of the main applications of the product. It is further used as key originator for the production of its derivatives such as esters and salts, industrial chemicals, fine chemicals, oxalates and phenol resin catalysts. It is used as reagent in analytical chemistry and synthetic organic chemistry. It is also used in removing the calcium carbonate from wastewater streams.
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Regional Overview:
Geographically, the regions focusing on the global oxalic acid market are Europe, North America, Latin America, Japan, Asia Pacific and Middle East & Africa. Asia is anticipated to be the biggest purchaser of oxalic acid in the world. China is main producer, consumer and exporter of oxalic acid. The main reason behind the increase in the usage of oxalic acid in Asian countries is the growth in the textiles, pharmaceuticals and rare earth industry. Europe is considered to be the rapidly growing market for oxalic acid globally. Manufacturers involved in the global oxalic acid market are Clariant, Ube Industries, Oxaquim, Indian Oxalate, Punjab Chemicals and Crop Protection Limited (PCCPL), Radiant Indus Chem, Dongfeng Chemical, Fengyuan Chemical, Changyuan Chemicals, Shaowu Fine Chemical, Hongli Chemicals, Gem Chemical, Taihe Chemical, Longxiang, Yuanping Chemical, Uranus Chemicals and many more.
Medicinal uses for oxalic acid
It is one of the most essential minerals needed in body to maintain peristalsis and tone of the bowel. Several foods that comprise oxalate are very healthy, but oxalic acid has harmful effects on the body. On the other hand, people who are trying to stay healthy should not avoid nutrient dense foods as they are high in oxalates.
Key Segments of the Global Oxalic Acid Market
Product Grade Overview, 2015-2025(USD Million)
- Dihydrate
- Anhydrous
- Solution
Application Overview, 2015-2025(USD Million)
- Pharmaceutical
- Rare Earth Sampling
- Metal Processing
- Agriculture
- Chemicals
- Textile & leather
- Others
Regional Overview, 2015-2025(USD Million)
- North America
- U.S.
- Europe
- Germany
- Asia
- China
- Rest of the World (RoW)
The report has analyzed several players in the market, some of which include
- UBE Industries, Ltd.
- Punjab Chemicals & Crop Protection Limited (PCCPL)
- Oxaquim S.A.
- WeylChem International GmbH
- Radiant Indus Chem Private Limited (RICPL)
- Qingzhou Aoxing Chemical Co., Ltd.
- Alfa Aesar
- Others
Table of Contents:
Chapter 1. Research Methodology
Chapter 2. Executive Summary
Chapter 3. Global Oxalic Acid Market Outlook
Chapter 5. Global Oxalic Acid Market, Application Overview
Chapter 6. Global Oxalic Acid Market, Regional Overview
Chapter 7. Competitive Landscape
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