H1 2023: In the first half of 2023, the Oxalic Acid market in the Asia Pacific region witnessed mixed prices. During the first quarter of 2023, the Oxalic Acid market in the China commenced with a subdued performance attributed to diminished market demand and the observance of the Lunar New Year celebration in China. In January 2023, the price of Oxalic Acid in China saw a decline. Subsequently, in February 2023, the price trajectory of Oxalic Acid witnessed an upward trend in China driven by heightened purchasing activities owing to robust demand and favourable trading conditions across Asian countries. The surge in demand for Oxalic Acid was a result of increased requirements by the downstream pharmaceutical industry, coupled with insufficient stocks to meet buyer needs, prompting heightened demand in the Chinese market. In the second quarter of 2023, the Oxalic Acid market faced sluggish trading activities amid an uptick in demand from the downstream organic synthesis sector. The decreased demand from end-user industries, particularly pharmaceuticals and metal cleaning, along with pessimistic buying, triggered a surge in Oxalic Acid demand. While major producers adjusted prices to align with lowered purchasing interest in the Chinese market, excess of Oxalic Acid resulted in the abundance of fresh stock, contributing to hazy demand and smooth supply in the Chinese market.
The global Oxalic Acid market stood at approximately 1215 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 4.15% during the forecast period until 2032.
Oxalic acid, a dicarboxylic acid with versatile applications, is employed across diverse industries for its unique properties. One prominent use is as a potent cleaning agent, particularly for rust removal and stain eradication from metal surfaces. Its effectiveness in brightening wood decks and furniture, especially when stained by iron or tannins, has made it a popular choice in the realm of household maintenance. Furthermore, oxalic acid serves as a bleaching agent in the textile industry, enhancing the colourfastness of certain fabrics and fibers. Its applications extend to metal, where it is utilized for cleaning and polishing brass, bronze, and aluminium, effectively removing tarnish and stains. In the field of beekeeping, oxalic acid takes on a crucial role as a treatment for Varroa mites, contributing to hive health.. Oxalic acid's utility extends to photography, where it acts as a reducing agent in developing solutions. In carpentry, this compound proves invaluable for wood bleaching, lightening or eliminating stains on hardwood floors. Its rust-converting properties make it a go-to solution for addressing rust on various surfaces, including masonry and concrete. Despite its multifaceted utility, cautious handling is imperative due to its toxicity, emphasizing the need for protective measures and proper disposal practices to ensure both efficacy and safety in its various applications.
Oxalic acid is experiencing extensive utilization as a cleaning and metal polishing agent across diverse industries, including automotive, construction, and aerospace. Its role as a bleaching agent and mordant in the textile industry further propels its market presence. The rising demand for sustainable cleaning agents augments the market growth of oxalic acid, as consumers increasingly recognize its natural cleaning properties. Moreover, its substantial application in the pharmaceutical industry positions it as a key driver, serving as a crucial raw material in the production of various pharmaceutical products, including antibiotics, antiseptics, and bleaching agents. Notably, oxalic acid plays a pivotal role in the synthesis of antibiotics like ciprofloxacin, renowned for treating a spectrum of bacterial infections. Additionally, its involvement in the production of antiseptics, such as potassium permanganate solution, underscores its relevance in addressing skin conditions like eczema and fungal infections. As industries continue to prioritize sustainable practices and the pharmaceutical sector witnesses ongoing advancements, the market for oxalic acid is poised for substantial growth, driven by its indispensable role in diverse applications, ranging from industrial processes to pharmaceutical formulations. Oxalic acid's involvement in the intricate chemical processes of extracting and purifying rare earth elements, where it acts as a precipitant, underscores its critical role. Regions rich in rare earth elements, particularly China, are leading in the use of oxalic acid. As these nations intensify rare earth processing, the demand for oxalic acid is expected to surge, driven by the growing need for efficient and eco-friendly processes in rare earth extraction. The global Oxalic Acid market size is anticipated to reach roughly 1830 thousand tonnes by 2032.
On the basis of Grade, Oxalic acid market is segmented into – Anhydrous, Dihydrate, and Aqueous Solution. Dihydrate serves as a widely employed flavouring additive to enhance the taste of ice cream and baked goods, also acting as a pH balancer to maintain optimal acidity in various food and beverage formulations. In the textile and leather industries, dihydrate functions as a bleaching agent, contributing to the desired colour and brightness of products. In chromatographic separation processes, dihydrate, combined with acetonitrile or other solvents, acts as a crucial buffer, aiding in de-chelation and deproteinization for precise and reliable results in analytical techniques.
Based on region, Asia Pacific region is the largest consumer of Oxalic Acid with India and China being the leading nations. The Asia Pacific region commands the largest market share in both production and consumption of oxalic acid, propelled primarily by the burgeoning industrial sector, notably in China and India. China, being the foremost producer and consumer of this organic chemical in the region, holds a substantial portion of the global market. This dominance is rooted in China's extensive manufacturing capacities, facilitated by favorable government policies and ready access to raw materials. The region's pre-eminence in oxalic acid production and utilization signifies its pivotal role in the global market dynamics. As the industrial landscape continues to thrive, particularly in key nations like China and India, the Asia Pacific's strategic position is anticipated to persist, influencing the overall market trends and reinforcing its significance in the organic chemical sector.
Based on the end-user industry, the global Oxalic Acid market is divided into Pharmaceutical, Textile, Rare Earth Metals, Metal Processing & Cleaning, and Others. However, the Pharmaceutical Industry dominates the global Oxalic Acid market.
Major players in the Global Oxalic Acid market are Mudanjiang Fengda Chemical Co., Ltd., Oxaquim SA, Merck KGaA, UBE Industries Ltd., Clariant International Limited, Indian Oxalate Limited, Shijiazhuang Taihe Chemical Co., Ltd., Spectrum Chemical Manufacturing Corp., Shandong Fengyuan Chemical Co., Ltd., and Penta s.r.o., and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Oxalic Acid which covers production, demand and supply of Oxalic Acid market in the globe.
• To analyse and forecast the market size of Oxalic Acid
• To classify and forecast Global Oxalic Acid market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Oxalic Acid market in the globe.
To extract data for Global Oxalic Acid market, primary research surveys were conducted with Oxalic Acid manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Oxalic Acid market over the coming years.
ChemAnalyst calculated Oxalic Acid demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Oxalic Acid. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Oxalic Acid manufacturers and other stakeholders
• Organizations, forums and alliances related to Oxalic Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Oxalic Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Oxalic Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1215 thousand tonnes
Market size Volume in 2032
1830 thousand tonnes
Growth Rate
CAGR of 4.15% from 2023 to 2032
Base year for estimation
2022
Estimated Year
2023
Historic Data
2015 – 2021
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Grade, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Pharmaceutical, Textile, Rare Earth Metals, Metal Processing & Cleaning, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Oxalic Acid market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Oxalic Acid.
3. Capacity By Location
To better understand the regional supply of Oxalic Acid by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Oxalic Acid by the leading players and forecast how it will grow in the coming years.
6. Demand by Grade
Learn about the various Grades of Oxalic acid: Anhydrous, Dihydrate, and Aqueous Solution, and their demands. It will allow you to choose which Grade to concentrate on when designing your strategy.
7. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Pharmaceutical, Textile, Rare Earth Metals, Metal Processing & Cleaning, and Others) are creating a market and the forecast for the growth of the Oxalic Acid market.
8. Demand by Region
Analyzing the change in demand of Oxalic Acid in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
9. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Oxalic Acid. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
10. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Oxalic Acid.
11. Company Share
Figure out what proportion of the market share of Oxalic Acid is currently held by leading players across the globe.
12. Manufacturing Process
Discover insights into the intricate manufacturing process of Oxalic Acid.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Oxalic Acid in terms of volume in 2022?
Ans:
The global market size of Oxalic Acid had reached approximately 1215 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Oxalic Acid?
Ans:
Asia Pacific region is the leading consumer of Oxalic Acid globally.
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