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.
Market Driver:
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.
Market Restraint:
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.
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.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
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Base Year for Market Calculation |
2020 |
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Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) and Volume (Kiloton) |
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Segments Included |
Product Grade, Application, and Region |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Oxalic Acid Market, by Product Grade
Oxalic Acid Market, by Application
Oxalic Acid Market, by Region
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
