Oxalic Acid Market: Summary
The Global Oxalic Acid Market is projected to reach a value of over USD 1,073 million by 2027 at a CAGR of around 5.7%.
Oxalic Acid, also knows as ethanedioic acid, is occurs naturally in many foods, but excessive ingestion of oxalic acid or prolonged skin contact can be dangerous. It can also be prepared in the laboratory by the oxidation of sucrose in the presence of nitric acid and a catalyst like vanadium pentoxide. Oxalic acid is a white crystalline solid that forms a colorless solution in water. It has a structure with two polymorphs and it appears as a white crystalline solid which becomes a colorless solution when dissolved in water. Oxalic acid is a reducing agent and is used as a chelating agent with oxalate as its conjugate base.
Oxalic Acid Market: Drivers & Challenges
- Significant Usage in Various Industrial Applications
Oxalic acid widely used in the pharmaceutical industry for utilized as a key ingredient in the manufacturing of drugs such as Achromycin, Terramycin, Borneol, and other antibiotics. Rare earth sampling is another major application that utilizes ethanedioic acid as a precipitating and resolving agent for purification of rare earth elements. In the metal polishing industry, the product is utilized in the surface treatment of metals such as rust removal, metal recovery & purification, surface polishing, and alumite film processing. Furthermore, the use of oxalic acid as a flavoring agent in ice-creams, beverages, and bakery products has provided thrust to the global oxalic acid market. In addition to this, it has been extensively adopted in the metal polishing industry for applications such as rust removal, alumite film processing, surface polishing, and metal purification. Moreover, in chemical manufacturing oxalic is further utilized as a key precursor for the production of its derivatives such as salts and esters, fine chemicals, industrial chemicals, phenol resin catalysts, and oxalates. Thus, the increasing demand for oxalic acid from various end-use industries is expected to boost the global oxalic acid market.
- Disadvantages Associated with Oxalic Acid
The corrosive nature and toxicity of the acid can cause dangerous conditions for workers who are using the chemical. Oxalic acid vapor is harmful if inhaled. It can cause severe irritation and burns of the nose, throat, and respiratory tract. The crystals/solution are harmful if absorbed through the skin. Rare chemical burns may occur from oxalic acid and may cause hypocalcemia. Inhalation of oxalic acid dust or mist over a long period of time might result in weight loss and respiratory tract inflammation. Rats administered oxalic acid at 2.5 and 5% in the diet for 70 days developed depressed thyroid function and weight loss. Thus, the hazardous health effects associated with the oxalic acid is likely to hamper the market growth up to a certain extent.
Oxalic Acid Market: Key Segments
- Segmentation based on product grade: Dihydrate, Anhydrous, and Aqueous Solution
- Segmentation based on application: Pharmaceutical, Rare Earth Sampling, Metal Processing, Agriculture, Chemicals, Textile & Leather and Others
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
Oxalic Acid Market: Report Scope
The report on the oxalic acid market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million) and Volume (Kiloton)
Product Grade, Application, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Oxaquim. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- UBE INDUSTRIES,LTD.
- Merck KGaA
- URANUS CHEMICALS CO., LTD.
- Hemadri Chemicals
- Punjab Chemical and Crop Protection Limited (PCCPL)
- Radiant Indus Chem Pvt. Ltd. (RICPL)
- Star Oxochem Pvt. Ltd,
- Honeywell International Inc
- Other Key Companies
Oxalic Acid Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Oxalic Acid Market, by Product Grade
- Aqueous Solution
Oxalic Acid Market, by Application
- Rare Earth Sampling
- Metal Processing
- Textile & Leather
Oxalic Acid Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Oxalic Acid Market Providers
- Oxalic Acid Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Oxalic Acid Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE OXALIC ACID MARKET STUDY