OXALIC ACID MARKET TO REACH USD 1,073 MILLION BY 2027 | CAGR 5.7% – FORENCIS RESEARCH

Oxalic Acid Market - Global Industry Analysis and Forecast 2020 to 2027

Global Oxalic Acid Market: Key Highlights

  • According to the new market research report Oxalic Acid Market by Product Grade (Dihydrate, Anhydrous, and Aqueous Solution), by Application (Pharmaceutical, Rare Earth Sampling, Metal Processing, Agriculture, Chemicals, Textile & Leather), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global Oxalic Acid market is estimated to reach USD  1,073 Million by 2027 at a CAGR of around 5.7% during the review period.
  • Oxalic 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
  • Oxalic acid widely used in the pharmaceutical industry for utilized as key ingredient in manufacturing of drugs such as Achromycin, Terramycin, Borneol, and other antibiotics
  • In chemical manufacturing oxalic is further utilized as a key precursor for production of its derivatives such as salts and esters, fine chemicals, industrial chemicals, phenol resin catalysts, and oxalates

Oxalic Acid Market

Global Oxalic Acid Market: Key Market Dynamics

  • Significant usage in various industrial applications such as pharmaceutical, agriculture, textile & leather, chemicals, is a key driving factor for oxalic acid market
  • In the pharmaceutical industry oxalic acid used for utilized as key ingredient in manufacturing of drugs such as Achromycin, Terramycin, Borneol, and other antibiotics
  • In chemical manufacturing oxalic is further utilized as a key precursor for production of its derivatives such as salts and esters, fine chemicals, industrial chemicals, phenol resin catalysts, and oxalates
  • However, the hazardous health effects associated with the oxalic acid is likely to hamper the market growth up to a certain extent

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Global Oxalic Acid Market: Regional Overview

  • Asia-Pacific

Asia-Pacific is expected to account for the largest share in the global oxalic acid market during the forecast period, owing to the presence of a large number of regional players coupled with well-developed downstream industries in the region, are the key driving factors that are expected to boost its demand over the years ahead.

  • Europe

Europe is expected to witness promising growth in the global oxalic acid market during the forecast period owing to the entry of new players in the market. Additionally, effective mergers and acquisitions have contributed to the market’s growth in this region. Asia Pacific is also perceived to serve as one of the major oxalic acid markets. The growth in this region is mainly driven by China as it is a major producer of oxalic acid.

Global Oxalic Acid Market: Key Players Overview

  • Oxaquim.:

Oxaquim is the first European manufacturer of oxalic acid and its derivatives. The company is also one of the leading manufacturers of oxalates in the world, producing 12 types of this product. The company has 160,00 employees across 70 countries globally. In February 2020, Oxaquim announced to invest in new pilot plant for pure oxalic acid. This pilot plant will be up and running by the second half of 2020.

  • Ube Industries, Ltd.

Ube Industries, Ltd. is a Japan-based chemical manufacturer. The Company operates in six business segments. The Chemical segment manufactures and sells caprolactam, nylon, industrial chemicals, synthetic rubber, ammonia, ammonium sulfate and nylon resin, among others. Ube Industries, Ltd. has a presence in the Asia- Pacific, North & Central America, South America, and Europe.

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Rep Id : CM 0150

Published : 2020-08-27

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