November 14, 2018: Adroit Market Research today published a study on the “Global Oxalic Acid Market Size 2017 By Product Grade (Dihydrate, Anhydrous, Solution), By Application (Pharmaceutical, Rare Earth Sampling, Metal Processing, Agriculture, Chemicals, Textile & leather, Others), By Region and Forecast 2018 to 2025”. The global oxalic acid market study has been put together by keeping in mind various factors impacting the industry including drivers, restraints and opportunities. To provide a holistic view of the global oxalic acid market, the report covers information on the global trade movement, production & capacity, manufacturing cost breakdown and raw material trends and macroeconomic indicators for key geographical markets.
The global oxalic acid market size is anticipated to increase at a 4.0% CAGR over the forecast period between 2018 and 2025. The demand for this product is likely to be driven by the growth of key application sectors such as pharmaceuticals, chemicals and textile & leather. Development of the metallurgy & mining, agriculture and pharmaceutical sectors is expected to create growth opportunities in the global oxalic acid market by 2025.
Anhydrous oxalic acid constituted over 30% revenue of the global oxalic acid market in 2017. This oxalic acid grade is utilized in a wide array of industrial applications ranging from pharmaceutical to textiles. The product purity is usually in the range of 99.4-99.9% and is commercially available in crystallized and powdered compositions. Major consuming applications of this product grade include the production of pest control products (such as miticides) and drugs. In addition, this grade is suitably used for removing calcium carbonate from wastewater streams.
Asia held the largest oxalic acid market in 2017, and is expected to witness the fastest growth during the forecast period. The region is expected to drive the consumption of oxalic acid by the end of 2025. Rapid industrialization, availability of skilled labor, and presence of a wide consumer base are the chief driving factors that have stimulated the oxalic acid market growth over the past few years. Additionally, countries such as China and Japan currently have a large pharmaceutical industry worth USD 86.77 billion and 94.03 billion respectively, which in turn is considered to provide a favourable scope for the oxalic acid market growth in the future.
Asia is not only a major consumer but also the largest oxalic acid producer worldwide. China and India have been the major producers of oxalic acid in the region. In 2017, China was the largest producer and consumer of oxalic acid. The region produces all the commercial grades of oxalic acid viz., anhydrous, dihydrate, and aqueous solutions. In 2017, the total production of oxalic acid in China and India exceeded 200 kilo tons and 30 kilo tons respectively. Both the countries have strong production capabilities with the presence of a large number of market players such as UBE Industries Ltd., PCCPL, Indian Oxalate Ltd., Qingzhou Aoxing Chemical Co., Ltd., Star Oxochem, Radiant Indus Chemicals, Shandong Fengyuan Chemical Stock, HeFei Dongfeng General Chemical Plant, and others.
Production of oxalic acid can be achieved through various synthetic and biobased routes. Owing to its biobased precursors mainly molasses and ethylene glycol, the product is expected to gain importance as a biochemical intermediate in the future. This is likely to favor the product development and bolster the oxalic acid market size across all geographies during the forecast period.
Punjab Chemical and Crop Protection Limited (PCCPL), Alfa Aesar, UBE Industries Ltd., Oxaquim S.A, Radiant Indus Chem Pvt. Ltd. (RICPL) and Star Oxochem Pvt. Ltd. are some of the key global players.
Key segments of the global oxalic acid market
Product Grade Overview, 2012-2025 (Kilo Tons) (USD Million)
Application Overview, 2012-2025 (Kilo Tons) (USD Million)
- Rare earth sampling
- Metal processing
- Chemical manufacturing
- Textile & leather
Regional Overview, 2012 – 2025 (Kilo Tons) (USD Million)
- North America
- Rest of North America
- Rest of Europe
- Rest of Asia
- Rest of the World (RoW)
The report has analyzed several players in the market, some of which include
- UBE Industries, Ltd.
- Punjab Chemicals & Crop Protection Limited (PCCPL)
- Oxaquim S.A.
- WeylChem International GmbH
- Radiant Indus Chem Private Limited (RICPL)
- Qingzhou Aoxing Chemical Co., Ltd.
- Alfa Aesar