The global Oxalic Acid market is projected to reach USD 751.13 million by 2029, growing at a CAGR of 2.6%
The global oxalic acid market size reached USD 616.3 million in 2017. The global demand for oxalic acid or ethanedioic acid is expected to grow at a stea
dy CAGR over the forecast period, owing to its significant usage in various industrial applications such as pharmaceutical, agriculture, textile & leather, chemicals, etc.
Based on the grade, the product is categorized into three major segments viz. dihydrate, anhydrous, and solution. Dihydrate is the most preferred grade that accounted for more than 45% of total market revenue generated in 2017.
The dihydrate grade is a high purity formulation with product purity in the range of 99.5% to 100% respectively. Flavoring agent in ice-creams & bakery product, pH regulator in foods & beverages are some of the key applications of the product. Moreover, it finds application as a bleaching agent in the textile & leather industry.
Global Oxalic Acid Market, By Application, 2017 (%)
On the basis of end-use or application, the global market is segmented into pharmaceutical, textile & leather, rare earth sampling, agriculture, metal processing, chemical manufacturing, and others. Pharmaceutical, textile & leather, rare earth sampling, agriculture, and chemical manufacturing are the significant consumers of the product.
In the pharmaceutical industry, oxalic acid is utilized as s key ingredient in 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.
Oxalic acid 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. Hence, chemical manufacturing is another important application segment of the global ethanedioic acid market. Its usage in this application further exceeds to synthetic organic chemistry and analytical chemistry, wherein it is used as a reagent.
Asia held the largest market in 2017 and constituted more than 60% share of the total global revenue of the product. Presence of 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 was the largest importer of the product in 2016 and procured approximately 28 kilo tons. Oxaquim S.A. and WeylChem International GmbH are a couple of the key players operating in this region.
The product is distributed to the market through various supply modes including supply partnerships, direct selling, online portals, and wholesale. Sigma Aldrich, Alfa Aesar and Parchem are the key global suppliers of the product with strong distributing channels and market presence in all geographies.
The global oxalic acid market is highly fragmented, owing to the presence of large number of global and regional manufacturers such as UBE Industries Ltd., Punjab Chemical and Crop Protection Limited (PCCPL), Radiant Indus Chem Pvt. Ltd. (RICPL), Oxaquim S.A, Star Oxochem Pvt. Ltd, LabChem lnc., Sigma-Aldrich Corporation, Honeywell International Inc , and others.
Oxalic Acid Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||US$ 751.13 Mn.|
|Growth Rate||CAGR of 2.6 % during 2019-2029|
|Segment Covered||Product Grade, Applications, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Punjab Chemical and Crop Protection Limited (PCCPL), Radiant Indus Chem Pvt. Ltd. (RICPL), Oxaquim S.A, Star Oxochem Pvt. Ltd, LabChem lnc., Sigma-Aldrich Corporation, Honeywell International Inc., Clariant, Shanxi Province Yuanping Chemicals Co., Oxaquim S.A.|
Key Segments Of The Global Oxalic Acid Market
Product Grade Overview (USD Million)
Application Overview (USD Million)
- Rare Earth Sampling
- Metal Processing
- Textile & leather
Regional Overview (USD Million)
- North America
- Rest of North America
- Rest of Europe
- Rest of Asia
- Rest of the World (RoW)
- North America