Market Size of Oxalic Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Oxalic Acid Market Analysis
The global oxalic acid market is projected to register a CAGR of over 4% during the forecast period. COVID-19 negatively impacted the market in 2020. In the first half of 2020, the import and export of oxalic acid were closed due to government-imposed lockdown restrictions. The temporary suspension of transportation unfavorably impacted the consumption of oxalic acid. However, its use in the pharmaceutical sector to produce drugs like borneol and tetracycline, as well as disinfectants, created a great demand for oxalic acid during the pandemic.
- The growing adoption of oxalic acid in the pharmaceutical industry to produce various medicines is forecasting market demand.
- The use of oxalic acid in the metal processing industry for rust removal, smelting of rare earth metals, and as a paint remover is also a blooming opportunity for the market studied.
- Growing health issues due to the toxicity of oxalic acid are hindering the market's growth.
- The Asian-Pacific region is expected to dominate the oxalic acid market and is also likely to witness the highest CAGR during the forecast period.
Oxalic Acid Industry Segmentation
Oxalic acid is a crystalline solid organic compound that finds many applications in Pharmaceuticals, Chemicals, and various other applications. The oxalic acid market is segmented by product grade, application, and geography. The market is segmented by product grade: Anhydrous, Dihydrate, and Aqueous Solutions. By application, the market is segmented into pharmaceutical, textile, rare earth metals, chemical, metal processing, and other applications. The report also covers the market size and forecasts for the oxalic acid market in 15 major countries across various regions. For each segment, the market sizing and forecasts have been done based on volume (Kilotons) and revenue (USD Million).
| Product Grade | |
| Anhydrous | |
| Dihydrate | |
| Aqueous Solution |
| Application | |
| Pharmaceutical | |
| Textile | |
| Rare Earth Metals | |
| Chemical | |
| Metal Processing | |
| Other Applications |
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Oxalic Acid Market Size Summary
The oxalic acid market is poised for steady growth, driven by its increasing application in the pharmaceutical and metal processing industries. Despite the initial setbacks caused by the COVID-19 pandemic, which disrupted global trade and consumption, the demand for oxalic acid surged due to its essential role in producing pharmaceuticals and disinfectants. The pharmaceutical sector, in particular, is a significant contributor to market expansion, as oxalic acid is utilized in the production of various drugs and as an ingredient in healthcare products. However, the market faces challenges due to the toxicity of oxalic acid, which could impede its growth. The Asia-Pacific region is expected to lead the market, with countries like China, India, and Japan driving demand through their burgeoning pharmaceutical and chemical manufacturing sectors.
The Asia-Pacific region's dominance in the oxalic acid market is attributed to its robust industrial activities and increasing healthcare investments. China, as a major producer and consumer, plays a pivotal role in the region's market dynamics. The region's growth is further supported by significant investments in chemical manufacturing and the textile industry, particularly in China. The market is moderately fragmented, with key players like Oxaquim SA, UBE Corporation, and Clariant AG actively expanding their production capacities to meet rising demand. Strategic acquisitions and investments in production facilities are expected to bolster the market's growth trajectory, ensuring a steady supply of oxalic acid to various industries.
Oxalic Acid Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from the End-user Industries
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1.1.2 Expansion of Pharmaceutical Industries
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1.2 Restraints
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1.2.1 Toxicity of Oxalic acid
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1.2.2 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Product Grade
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2.1.1 Anhydrous
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2.1.2 Dihydrate
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2.1.3 Aqueous Solution
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2.2 Application
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2.2.1 Pharmaceutical
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2.2.2 Textile
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2.2.3 Rare Earth Metals
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2.2.4 Chemical
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2.2.5 Metal Processing
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Oxalic Acid Market Size FAQs
What is the current Oxalic Acid Market size?
The Oxalic Acid Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Oxalic Acid Market?
Oxaquim S.A. , UBE Corporation , Clariant AG , STAROXOCHEM Pvt Ltd. and Honeywell International Inc. are the major companies operating in the Oxalic Acid Market.
